The ‘right’ property manager is an investment in your financial future
As a landlord, finding the right property manager is an investment in your financial future. Their role is to look after one of your greatest assets, in addition to ensuring you receive the income you’re entitled to in terms of rent.
The best property managers are like a trusted advisor, assisting you achieve your goals, securing the right tenants and protecting your investment.
So how do you find one? Here are our top tips on what to look for in a property manager…
A property manager’s role is the middleman. Their job is to adhere to the law, looking after both the landlord’s and the tenant’s rights while protecting a property from damage, and ensuring the rent is paid on time.
That means a firm grasp of the law is paramount, and it’s important to note, this legislation varies from state to state and changes over time.
A property manager’s knowledge should also extend to a deep understanding of your local market, including current rental prices, vacancy rates and more.
The more knowledgeable your property manager is, the more likely they are to secure the right tenant for you.
As a middleman, a property manager needs to be an effective communicator, liaising with all parties involved in a lease.
This communication skill also extends to working with tradespeople and other services to ensure any repairs or maintenance requirements are met.
Communication shouldn’t just be reactive either, you should be hearing from your property manager in an advisory capacity long before an issue arises.
Systems and procedures
Any property manager worth their salt backs up their role with strong systems and procedures. This ensures you receive rent when you should, your property is inspected regularly, leases are re-negotiated long in advance of their end date, and any vacancies are quickly filled.
So, when searching for a property manager, questions you might consider asking include:
- How do you go about finding a tenant for my property, and what checks do you conduct?
- How do you ensure tenants pay their rent on time?
- How often do you undertake routine inspections?
- What information will I receive about the condition of my property after a routine inspection?
Attention to detail
Attention to detail is an imperative attribute of any good property manager. This allows them to identify anything that needs to be tended to with your investment before an issue arises. It also ensures your property continues to attract tenants of a high calibre, and that any breaches are quickly remedied.
Whether it’s the small things like the fact your shade sail needs cleaning, or the big issues like instantly getting on top of an emergency repair, a property manager is the backstop that ensures nothing gets through the cracks.
Looking after your investment as if it were their own
Perhaps most importantly, a property manager should view your investment as if it were their own. This allows them to effectively screen tenants, suggest any required repairs, and work with you to manage an asset that attracts good quality tenants for the long term.
If you’re looking for property managers who will work with you as a landlord to ensure your property retains its value and appeal, we can assist. Learn more about how our Eview Group property managers can help, by contacting your local Eview Group Proud Member agency, today!