If you’re the owner of an investment property, you may know all too well how difficult it is to find the right Property Manager, especially if you’re the owner of an executive investment property. Having a good Property Manager is important so that you can feel comfortable leaving your investment in the hands of someone you trust, rather than having to worry about how it’s being looked after in your absence. After all, the job of a Property Manager is to look after all aspects of your investment property so that you don’t have to. However, we understand that if it’s your first time renting out a home to someone, it can be difficult to know what to look for in a Property Manager. Therefore, we’re listing below our best tips on how to choose the right executive Property Manager.
Do your Research
One of the most important first steps you can take when choosing an executive Property Manager is to do your research! Too often are Property Managers hired simply because they’re the first one that a landlord has come across or because they’ve received the cheapest quote from them. While this may work out for some people, it’s really important to shop around with your Property Managers and find someone that is able to fulfill all your needs, not just the cheapest Property Manager you can find. A great way to weed out the good Property Managers from the bad is to read their Google reviews and testimonials on RealEstate.com.au. Here, people can leave their honest review and you’re able to gain an understanding of what their service is like.
Choose Someone Local
Because Real Estate is very suburb specific, it’s smart to hire a Property Manager that specialises in the suburb or area your investment property is in. In the Real Estate business, local knowledge is everything and local Property Managers will have an idea of how to attract tenants In the area, what the right level of rent is and any valuable improvements that you can make to your property. Most importantly, local Property Managers will have an extensive database that they can send your property to, increasing your chances of securing a tenant quickly.
Look at their Services
The next thing to consider when hiring an executive Property Manager is to look at their list of services. If you’re a busy person who doesn’t have time to manage any part of your property, you need a Property Manager who can offer a complete service. In the same way, managing an executive rental is slightly different to managing regular rental properties, where the Property Manager needs to be able to ensure that tenants are maintaining the property to a high standard. A good Property Management company should actually have different Property Managers who are dedicated to different areas of renting; for example, one Property Manager dedicated to maintenance, one focused on communications and one on accounts. This way, you can feel confident knowing that all elements of your investment property are being looked after properly.
One of the most important things to do when selecting an executive Property Manager is to ask questions! Don’t be afraid to question what’s written on paper and make sure that they’re able to support their testimonials and claims on their website. Below are some examples of good questions to ask your potential executive Property Manager:
- What are your qualifications?
- How many properties does your company manage?
- How many properties are allocated to each manager?
- How are your services different/ better than other agencies?
- How are you committed to best practice?
Communication is Key
When shopping around for Property Managers, take note of how they communicate with you as ultimately, this will reflect on how they communicate with you if you decide to hire them. When emailing or messaging them, consider how quickly they reply, if they are able to write professionally and the level of detail they put in their email. If they tick all these boxes straight off the bat, it’s a good indication that they’ll be easy to communicate with when it comes to managing your property.