Are you looking for someone to take care of your investment property? In this article, Keris Hodge states the 4 tips to getting the most out of a property manager. Call our Property Management team today on 4959 6577 to speak to someone about what we can do for your property!
4 Tips to Get the Most Out of a Property Manager
Property managers come in different shapes and sizes. Just as you research other aspects of investing in property, you should look carefully at the different types of managers out there and the different ways they can support you and your needs.
Some selling agents also manage properties, and other property managers specialise in this area.
Here’s my four key tips to help you choose the right property manager and get the most out of your relationship.
1. FOCUS MATTERS
Your property manager must have experience with he business of managing properties because it is an intricate business that needs the relevant industry expertise in order to maximise your occupancy rates and rental returns.
2. THE CARE FACTOR
Select a property manager that you feel comfortable with and one that will treat your apartment or home like it is their own, someone who always remembers that it is your prime investment and will work diligently to maximise your rental income whilst efficiently managing tenant demands and maintenance bills.
3. SIZE (OF LIST) MATTERS
Ask the property manager about how many prospective tenants they’ll be marketing your property to. How big is their database? Is it specialised in any way (i.e. how qualified are those leads)? You want to know your property manager has a sizeable number of relationships they can reliably draw on to fill your property and meet your needs ongoingly. This doesn’t always mean going with the biggest, most established agency. Simply that you want someone with a track record and a solid market base.
4. GO LOCAL
Make sure you appoint the most professional, knowledgeable and experienced property management service, in the local area of the investment property. This will ensure the manager is close at hand and has local knowledge relevant for your property.
Anyone who is toying with the idea of buying an investment property should research the property management services on the market before completing the purchase. Better to be safe in experienced hands sooner than later!
– Keris Hodge
Ray White Toronto Property Management 4959 6577