Please note - Due to the holiday season, builders and developers may be slower than usual in responding to any queries Close

8 Essential Skills of a Strong Property Management Team 

Sourcing a good property manager can be a daunting task for even the most experienced landlord. A strong property management team requires a range of skills, from effective communication to a thorough understanding of property legislation. Finding the right fit for your needs can feel overwhelming, especially if you’ve encountered difficulties in the past or are just breaking into the property market. To help you navigate this complex task, we’ve set out below some of the key skills your property manager should possess…

property manager

1. The Whole Package
The best property managers have a broad skill set but, most importantly, a strong ability to communicate, negotiate and provide excellent customer service. Not only does the job require regular liaising with tenants, property owners, real estate agents, and more, it also entails hands-on duties, such as overseeing any maintenance or repair issues. The easiest preliminary way to assess the credentials of your potential property management company is to inspect their online presence or Linkedin profile.

2. Communication
It’s a given, but consistent and effective communication is essential when it comes to ensuring your peace of mind. Successful communication means you and your tenants are able to readily contact your agent. An online tenant portal is an easily accessible channel, which enables stress-free correspondence, provides key information and allows for the convenient payment of rent.

3. The Right Knowledge
The best property management teams have a good understanding of the relevant law and marketing principles. A highly organised and particular agent is key to ensuring that you are protected from any potential fines, taxes or lawsuits and that your property attracts the right tenants and is rented out quickly.

4. Strong Social Media Presence
Social media, and the internet in general, now play a huge role in our daily lives, so it stands to reason that the most successful property management companies are taking advantage of our contemporary reliance on the world wide web. If your chosen company isn’t online, or if their web presence is minimal, then they’re probably limiting their business opportunities – and yours too! Ideally, your team should capitalise on every available avenue in order to increase the chances of your property being rented quickly and your income being maximised.

property manager

5. Professional Attitude
A sloppy approach to property management can be disastrous for your investment dreams and potentially result in unpaid rent, badly documented property reports and poor customer service skills. First impressions are crucial here, so be sure to assess the neatness of the premises, the friendliness of the staff and the presentation of documents.

6. Transparency
Your property is a huge financial investment and your manager should be completely trustworthy and transparent when it comes to ensuring what’s in your best interests. A good property manager is able to deliver information in a direct and professional manner and will ensure that your goals are realistic and attainable.

7. Positive Reputation
While a professional and friendly agency is a great start, it’s equally important that they’re well-established and boast a proven track record. Question how many properties the agency leases each month, and what the average income is for properties similar to your own. Not only does this provide you with a starting idea of their capabilities, but it also ensures that your expectations are analogous.

8. Happy Tenants, Happy Owners
Strong property management teams should have a large repertoire of satisfied tenants and owners. Testimonials really can be beneficial when it comes to scoping different companies, with positive reviews a great indicator of successful procedures, a high level of professionalism and proven results.

Need help getting started? iBuyNew will point you in the right direction! Whether you are looking for apartments, townhouses or house and land packages, working closely with an iBuyNew property consultant, who understands the market, will help you find something suitable that’s tailored to your needs and requirements. Get in touch with them on 1300 123 463.

Kaylah Chesson

Kaylah is completing her final year of a Bachelor of Arts / Bachelor of Laws degree at Deakin University. Her particular areas of interest include property and land law, home design and the creative arts.

About

iBuildNew is the market leading aggregator dedicated to residential home construction and land development. As an independent platform, iBuildNew helps Australians identify and compare new home designs, house and land packages and land estates. It’s the smart way home buyers, who are considering a new build, can find the ideal options to match their individual needs. Home building is a big decision, we make sure you get it right.

You may also like

10 Questions to Ask When Buying Off the Plan

As the name suggests, buying off the plan means to purchase a property that hasn’t yet ...
Read More
Oct 02, 2019

Think Like An Investor And Achieve Your Investment G...

When adapting the mindset of a property investor, it is important to be well-informed w...
Read More
Jul 12, 2019

It Pays To Keep An Open Mind: Investing In Regional ...

It is so common for us to hear about capital growth rates and rental yields for propert...
Read More
Sep 08, 2017

Understanding Building Contracts in Your State

If you are planning on building a new home then you will have to sign a building contra...
Read More
Jun 25, 2018

Changes to Victorian Tenancy Laws

Tenancy laws have not seen much change for the last 20 years in Victoria. Although rece...
Read More

9 Must-Have Features of the Most Lucrative Investmen...

If you’ve read the news lately, then you’re no stranger to the state of the Australian ...
Read More
Oct 09, 2019

What Type Of Investment Property Is Right For You?

After saving up and making all the preparations, the exciting stage of choosing an inve...
Read More
Jun 12, 2018

3 Big Things That Will Make Great Real Estate Invest...

Location Want to ensure you've made a great real estate investment opportunity? Repeat ...
Read More
Aug 08, 2019

Looking For Long-Term Property Investment Success? H...

Whether you're buying property to invest, or buying a new home, having successful retur...
Read More
Mar 04, 2021

7 Essentials You Need To Start Investing In Property

This article was originally published on iBuyNew.com.au and has been reposted here with...
Read More

5 Interesting Ways to Customise When Buying Off-The-...

One of the biggest differences between a custom home and buying off-the-plan home is th...
Read More
Apr 04, 2018

6 Reasons You Should Use A Property Management Compa...

If you have invested in property, leasing it out is one of the most financially rewardi...
Read More

Investing In House and Land Packages VS Pre-Existing...

When investing in property, it can often be way too difficult to know which kind of pro...
Read More

Depreciation dilemma: old or new?

When thinking of investing in property, investors tend to focus more on the location, t...
Read More
Mar 27, 2018

Understanding Property Management Fees and Services

Property management fees can be difficult to comprehend at first. There are so many dif...
Read More
Oct 05, 2017

Investing in Property? Prepare Your Team Now

If you’ve decided to invest in property, then you have made the first big move towards ...
Read More
Jul 04, 2019

Capital Gains vs. Rental Yield: Which is Better? 

It’s the age-old question when it comes to property investing: should I opt for capital...
Read More
Jan 15, 2020

What Is Rentvesting And Is It Right For Me?

Renting in a bustling inner-suburb may give you the lifestyle that you are after and ha...
Read More
Feb 24, 2017

Understanding the Secret Language of the Lawyer

When you build a house, the entire process can seem somewhat overwhelming. However, at ...
Read More
May 13, 2017

What Is Negative Gearing And What Does It Mean For You?

Negative gearing is an investment practice in Australia that involves investing borrowe...
Read More
May 23, 2018

Searching for an Investment Property: Negative Geari...

Negative gearing is when you borrow money to make an investment, and the income from th...
Read More
Oct 20, 2017

Stocks Versus Property Investment: Which One is Righ...

It’s the age-old debate: stocks versus property? Anecdotally, Australians see certain s...
Read More
Jul 16, 2019

8 Essential Skills of a Strong Property Management T...

Sourcing a good property manager can be a daunting task for even the most experienced l...
Read More
Jul 21, 2017

Enjoy Maximum Capital Growth When You Choose Investm...

There are a lot of misconceptions about an investment property, which is why it’s cruci...
Read More

Get more from

Browse House and Land Packages