How to Select a Property Manager That Will Pay For Themselves

Feb 17, 2020 | Landlord Advice, Property Investment

Selecting a property manager to look after your property isn’t so simple, when you realise the benefits of a property manager who truly excels in their field.

Picking the wrong manager could lead to numerous issues like:

  • Rents not being appropriately managed.
  • The property not being maintained efficiently would lead to a higher cost of repair down the line.
  • Bad advice when it comes to landlord-tenant law.
  • A poorly supervised property.
  • Mistakes in the paperwork.
  • Unable to properly assist you with your tax returns. 

You have to select the perfect property manager to successfully manage your investment. Here are some tips to help you with your selection.

1- A Cheap Property Manager Will End Up Costing You More

You want to target value as a landlord, and not just look at the price.

A good property manager won’t be the cheapest, and you have to focus on all the benefits you get out of someone who actually knows their job.

Focus on getting the ideal property manager for your property, someone who is an expert, responsible, and efficient. At Investarent, our team of professionals have years of experience and training as property managers.

We ensure that you get your money’s worth.

2- Look Locally

If you happen to be in Brisbane, then you’re in our backyard. In the rental market, having local real estate knowledge is crucial to success.

Investarent knows Brisbane like the back of our hand. We know the area and its various suburbs. You can trust us to manage your rent, tenants, and property maintenance in an efficient manner.

Having local knowledge gives us the edge when it comes to screening tenants, knowing what rent to charge, and getting the right team to maintain or repair your prized property.

It is pertinent to mention that while a company might be situated in another state, it might employ professionals in your locality with local market knowledge.

3- Look for Experience

No amount of training and expertise can replace real-life experience. Don’t get me wrong, training and becoming an expert is the building block of any profession.

However, you need to have experience on top of that training. Investarent is a market leader; our team of highly trained professionals have years of experience that will inevitably give you the edge.

You need a company that has a comprehensive system in place, thanks to years of experience, to handle all the jobs efficiently and smoothly.

4- Do Your Research

Search for the best possible options you can find, and which option works best for you.

Word of mouth matters a lot as well, so ask your fellow landlords for advice and suggestions.

Never go in blind, always do extensive research and compare in detail what different property managers are offering

5- Communication is Key

A property manager must possess excellent communication skills. He must be coherent, cohesive, friendly, available, professional, understanding, and compassionate.

Your tenants would highly appreciate a property manager who is communicable.

So when you set out to search and select a property manager, remember to select only those that have mastered this attribute.

6- What Services Do They Offer?

Every property manager is slightly different, don’t assume that they all are promising the same services and responsibilities to be undertaken by them.

Always talk out the details to get an idea so that you may compare the different levels of commitments being offered by each property manager.

7- It is Important to Interview Them

Ask them about their experience and qualifications. Ask them how many properties they are managing and how much time do they devote to each property. How frequently do they conduct inspections, and what is their tenant vetting process.

A thorough interview will reveal a lot about your new property manager, make an informed decision after a detailed meeting.

Featured Articles