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Top 3 Tips to choosing the right Property Management Team

By Tamara Lloyd

Your investment property is one of your greatest assets, so you want to make sure it is well looked after in both the short term and long term. Here are our Top 3 Tips to choosing the right company to manage your investment property.

Tip 1 – Look at the Company not just the individual. A lot of articles and information around choosing a Property Manager talk about meeting the Property Manager in person to make sure you are happy with them.  Although this is a great opportunity to get to know the individual, we think it’s just as important to look at the Property Management Team and the business as a whole.

Property Managers can leave a particular company, or change location. You want a company that has good systems in place and a proven track record of stability. If your property manager is away on leave, sick or moves on, does the company have the resources in place to effectively manage your property in the long term? Check the company Google Reviews to get an insight on how the it performs overall according to customers. If there is an issue, how accessible is the Director? Who makes the final decision if there is an issue?

Tip 2 – What systems and technology does the Company have in place to communicate with you effectively? It’s important that your Property Management Team are up to date with technology. Technology should:

  • give you, the landlord, quality information in a timely fashion.
  • accelerate the process of getting maintenance attended to.
  • provide more detailed condition reports and routine inspection reports with plenty of photos (it’s not unusual for us to take 400 plus photos of a property condition report).

Tip 3 – Ask plenty of questions! Here is a guide to some of the most important questions. If a property management company are not confident in their answers or cannot answer the following questions, you should be concerned about how they will manage your property.

  • Who will be managing my property and how much experience do they have?
  • What support will my property manager have from other team members or management?
  • How many properties does the property manager manage?
  • How long will it take to find tenants for my property?
  • What is the process if the tenants don’t pay their rent?
  • How often is my property inspected?
  • Do I get a written report?
  • What happens if the tenants aren’t looking after my property?
  • When does the rent get paid to me?
  • What other services does your company offer for investors? (ie do they have information nights?, can they offer information on investing?)

If you would like more information or would like to discuss your options with our Property Management Team, please contact the office on 9725 7444.

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