Finding the right Property Manager

Finding the right property manager to look after your tenants and property can be the hardest part of owning an investment property. Here are some things to consider. 

Attention to detail

An experienced property manager should have strong attention to detail. With many dates and deadlines to consider, you want someone who proactively looks after everything from advertising your property and securing new tenants to routine inspections and compliance matters such as smoke alarm inspections. 

Tenant insights

Property managers deal with tenants every day, so they know the little things people are looking for in a rental property. Having an expert who can highlight these in their communications and at property inspections can make the difference between finding dream tenants in days, not weeks.

Systems and processes

Finding a property manager with all the right systems and processes in place will give you peace of mind. Similar to having strong attention to detail, the best property managers will have all of the systems and processes set up to ensure everything is done on time. Automated processes such as processing rental payments and producing rent receipts, to reminders for routine inspections. 

Market knowledge

A key benefit of an experienced property manager is their market knowledge and insight. By working with someone who knows the area where your investment property is located, you can strike a balance between maximising your rental pricing and finding new tenants quickly when the need arises. Also, when it comes to renewing the lease with current tenants, your property manager will be able to confidently advise if a rent increase is appropriate and how much it should be.

Ongoing support

People need to take a break or a few days off if they’re unwell like any other job. It’s important to check what support your property manager will organise when they’re not available. Make sure they have systems and processes set up to continue looking after your place and tenants.  

Things to consider

There’s a lot to consider when you’re looking for a property manager. It can often be the hardest part of owing an investment property. With the above factors in mind, the best thing you can do is begin researching agencies and ask for referrals from your network. Once you’ve spoken with a few different property managers, you’ll get a feel for who is the right fit for you.

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