Landlord’s guide to finding a great property manager
Finding a competent property manager is a matter of knowing the right questions to ask.
You’re on the lookout for a good partner, someone who will look after your needs, attend to the small details and generally have your well-being at heart.
What you don’t want is indifference, unreturned calls and problems swept under the carpet.
So, how do you find that special person – a good property manager.
Landlords should meet with at least two property managers before making a choice – and price shouldn’t be the main criteria.
The main thing is to trust your instincts when you meet the people who are going to be managing your property. If you don’t like them from talking to them, don’t go with them just because they’re cheaper. For an investment, usually of at least half a million dollars, you should be picking the person who you feel is the most professional agent to manage the property.
We recommend asking some key questions at that first face-to-face meeting at the top of the list is: ‘what’s your ratio of properties to the manager?’ If people are managing more than 200, you might find they don’t have enough time in the day to service those clients.
Another question that should be high on a landlord’s list is how long your prospective manager has been doing this type of work. There are a lot of property managers who are 17 or 18-year-olds just out of high school who have done a certificate course online. Find someone who you can trust and has the experience.
Other questions to ask prospective property managers include: how are tenants selected and screened; how often are inspections are undertaken; and how detailed are inspection reports?
Fees for property management vary between states – and sometimes between suburbs. However, standard charges in Australia are generally between five and 10 per cent of a property’s rent, with other services, such as lease preparation and letting fees, billed on top of that.
For more questions or if you are interested in us managing your property please get in touch.
Original article found here written by Michael Yardney.