Peter Gordon Dip.FP. & Dip.FMB.
e peter@investoproperty.com.au
Ph: 0401 214 134

How to Choose a Property Manager

Thursday, 5th December 2013

 

One of the important steps in property investing is choosing your property manager. Here are 5 questions you can ask an agency in order to select the one that is going to protect your investment and maximise the income you earn from it.

 

Is there a dedicated property management department?

Make sure that property management is a focus for the agency. There should be a dedicated team looking after property management and not simply an extra duty for one of the team.

 

How experienced is the property manager?

The focus for this question is the actual property manager not the agency, make sure it is the person who will actually be managing your property. How long have they been doing this? Do they have a passion for property management? How long have they been with the agency? This is important as it helps to establish stability.

 

How many properties do they look after?

This is an important question. If they are looking after more than 150 properties you may not get the service you need. Look for a property manager with less than 150. This will allow the property manager to devote enough time to your property. This may mean they are not the cheapest but you want someone who can focus on your property.

 

Ask them how they show prospective tenants your property?

You want a property manager who actually takes the prospective tenant to your property. This ensures that your property is secure, allows the property manager to ‘sell’ the benefits of your property and provides an opportunity for the property manager to learn a little more about the prospective tenant.

 

How do they select a tenant?

Ask the property manager how they select a tenant. Be sure that they screen effectively, do they do credit checks, employment, rental history.

Selecting a property manager is such an important step, if you have any questions or would like further information please contact peter@investoproperty.com.au