Investing in property can be both a rewarding and daunting experience. For many residential rental providers, choosing to engage with a qualified property manager takes the headache out of leasing their property and ensures quality ongoing management of the asset. But finding a suitable property manager who has a vested interest in you and your rental can often be a challenge.
When it comes time to choose a property manager, there are many factors to consider other than just fees. Below are our top tips for rental providers on the hunt for the perfect property manager.
Read online reviews
Before anything else, start by doing your research. Head online and read up on several agents in your area. But a positive or negative review from a tenant doesn’t necessarily mean the residential rental provider feels the same way, so be sure to read the reviews in detail.
Choose management over sales
A real estate agency with an expertise in sales does not always translate to a successful property management team. While many agencies offer both services, you want to ensure there is a big team supporting you and that your rental will be as high of a priority as a new listing. Get under the hood of each agency and find their strengths.
Look for an experienced team
Above all, an agency with a good track record in the property management space is going to be preferable. Engaging with an experienced property management team means you will have access to full-time customer service and a skilled team behind your dedicated property manager who can step in to support when needed.
One of the best sources of information is the agency’s current rental listings. Look at how these properties are marketed. Are the images and copy of a high quality, how often is the agency showing the property to prospective tenants?
Every agent manages differently, so discussing the terms of your contract in detail is crucial. The condition report will be your most important document during this process, so ask to see the agency’s standard report and ensure this is extremely detailed. Be sure to ask a lot of questions. How often will the agent carry out regular routine inspections? What is the process around handling maintenance? When will the rental payments be passed on to you?
The best return on an investment is making sure you’ve got a property manager who is going to take care of your asset.
For more information around selecting the right property manager, or to chat to someone from our team, give us a call today!