Having the right property manager for your rental property.
Lets talk about having the right Property Manager for your property!
Hey there,
Ok, so I’m going to let you in on a little secret on how to select the right and most efficient property manager for your investment properties.
By finding a great and efficient property manager who looks after houses and apartments, your cashflow will go up. But more importantly a great property manager will allow you to buy more real estate and look after the day to day activities with your properties so you can focus on building your wealth.
A great and efficient property manager is always aware of good deal in real estate and is able to advise their investors, which makes them even more valuable.
Having the right property manager for your rental property.
When it comes to lease your property out, having the right property manager can ensure a smooth and stress-free experience.
East Avenue Realty specialises exclusively in Property Management across the Eastern Suburbs, we chose to specialise exclusively in rental properties as most real estate agencies are mainly focused on sales and the rental owners are not being provided with the right service.
We understand and respect the importance of our clients’ investment properties, and how it can impact their future. With our combined years of experience, our team has developed procedures and systems in place to maximise the returns that our clients receive, and to ensure that their properties are maintained correctly throughout the lifetime of the tenancy, while keeping clients well informed.
A property owner should put time and effort in finding the right property manager, as it is a long-term relationship, and one that the owner can benefit immensely from in terms of having confidence and peace of mind that his/her investment is well looked after.
Some important tips when selecting the right property manager.
1. A property owner should always try to interview at least three property managers prior to deciding on which agent to go with.
Important considerations when deciding which property manager to choose include how much experience the agent has within the area, how long has the property manager been with the agency, and what are they charging. Be cautious that the cheapest agent may not always the best and may end up costing you more down the track with a property being managed poorly.
2. Asking the right questions can help determine whether a property manager will care for your property in the way you wish.
Some questions to ask include: how many properties do they manage? Is the property manager going to be the person looking after your property, or will it be another staff member? What is the agency’s procedure in handling arrears, repairs, and maintenance? What systems do they have in place and what measures do they take to find quality tenants?
3. Important qualities of a good property manager include good communication skills openness and transparency with property owners, and sound knowledge of legislation.
4. A good property manager can assist a client in obtaining the greatest possible return of investment, and in selecting the right tenants.
A knowledgeable property manager should be able to advise a client of how a property should be portrayed when advertising it on the rental market and conduct a market analysis to set the rent at an appropriate market level to ensure quick leasing. Having the property’s rental amount advertised at the right market level gives the owner more variety of good tenants. Choosing the right tenant is very important, and at East Avenue Realty, we conduct detailed reference checks on all prospective tenants and let the owner make the decision of which tenant they would like to occupy their investment property.
5. The right property manager and agency will lessen the stress and worry of whether a property is well cared for.
A detailed procedure followed by the entire team at an agency will ensure every property is well looked after. The East Avenue Realty procedure includes a fair and comprehensive lease agreement to protect the interest of landlords, utilising only skilled and licensed tradespeople for repairs and maintenance, having a strict arrears procedure keeping up to date with changes to the legislation, paying landlord insurance and outgoings on behalf of the landlord, and conducting detailed regular routine, ingoing, and outgoing inspections.
