Allowing someone else to manage your property is a bit of a scary thought. You want to make sure that you are choosing the right person for your rental management and that you will receive the service you are promised. Knowing what questions to ask and what you should be looking for when searching for a property manager will make it easier than ever for you to find the right person. With help from our friends at Leasi, we have put together some tips to help you on your way.
How To Find The Perfect Rental Management Company
Do The Research
Just as in any important decision, research is a key aspect of the process. Ensure that you get an accurate summary of the property manager you are considering – and looking at client feedback is a great place to start. This research is worth your time given the amount of years that they could be working with you. Speaking to previous clients can give incredible insight into a company. Leasi suggests that you ask: How quickly does the property manager handle maintenance issues? How happy are you with the tenants they have chosen? Do they go out of their way to handle emergencies quickly? Are you happy with their network of trades? Do they conduct regular inspections?
Know How They Communicate
Knowing how your property manager communicates with tenants and how they intend to communicate with you is important. Firstly, It is essential to know that they will be contacting you with updates about your property, you should not need to be calling them for updates. You have hired them to manage your property and it is important you remember you have a right to be kept in the loop and be a part in decision making. Secondly, it is important to be aware of how they handle tenants – in particular how they handle rental arrears. You should find someone who is firm yet understanding when it comes to payment of rent. Leasi suggests knowing when to recognise a good tenant who has good reason for paying late as a one off – compared to a tenant who continuously pays rent late. You do not want to lose the good tenants, so a sense of sensitivity balanced with firmness is ideal from a property manager.
Compare Property Management Fees
The cost of property management can vary. Some will charge more for their services and others will come to a lower cost. The experts at Leasi comment on the fact that a fair fee is not always the lowest fee, if it is for a full service. Full service involves interviewing tenants, completing background checks, collecting rent and handling maintenance issues as they arise. Remember to be sure of what each manager offers by comparing and collecting prices, this will help you figure out who is charging a fair fee compared to those who are not.
For further information on finding the right property manager for your investment property, be sure to contact the experts at Leasi with any of your questions or queries. You can discuss your requirements with our team on 1800 184 284 or book a call online.