4 Questions to Help You Pick the Right Property Manager

A good property manager plays a crucial role in the ongoing upkeep of your investment and the day-to-day administration of a rental property. Whether you’re looking to maximise your rental returns or find perfect long-term tenants, a property manager has the expertise you need to get the most from your investment. Below, we outline some questions you should ask when you’re searching for a property manager.

Who is in the property manager’s team?

When you’re assessing property management teams, it’s important to ensure they are adequately resourced. Ask how many properties the property manager currently has in their portfolio, who else on their team supports them (such as an assistant), and how they handle the administrative and operational aspects of property management. Teams with the latest software and systems in place are often better equipped to respond to maintenance and repair requests promptly, leading to happier long-term tenants and potentially better rental returns.

How do they manage late payments?

Managing late payments is often an inevitable part of being a property manager. Look for property managers who proactively maintain open communication with tenants so that any issues with rental payments are addressed before they become a major problem. A professional property manager will have a standard procedure for managing overdue rent. This procedure typically includes follow-up phone calls, sending payment reminders, and, in extreme cases, issuing a notice to vacate if the rent is more than 14 days overdue.

When are routine inspections conducted?

A good property manager should regularly inspect your property to identify any maintenance and repairs required and ensure the property is being well cared for. When you’re searching for a property manager, ask how they manage routine inspections. If they have strong systems and processes, they’ll likely use dedicated software that reminds them when an inspection is due and when they need to notify the tenant.

How are repairs and maintenance managed?

One of the most important aspects of having a property manager is ensuring that repairs and maintenance jobs are handled promptly and efficiently. This is especially crucial for property investors, as unresolved repairs or inadequate fixes can lead to costly long-term problems. As the owner, it’s your responsibility to provide a safe home, but both the tenant and the property manager must do their part in reporting and addressing maintenance and repairs. A professional property manager will ensure that any issues are dealt with promptly and correctly.

Having a great property manager can significantly reduce the burden of responsibilities you carry as a property investor. With an expert supporting you in finding great tenants, ensuring the property is well maintained, and staying up to date with everchanging regulations, you’ll have peace of mind knowing your investment is in good hands. This allows you to focus on your long-term goals.

Remember, this article is general in nature and is not financial or legal advice. Please consult your professional financial and legal advisors before making any decisions.

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