Becoming the owner of a rental property means that you’ll need to take on certain responsibilities. This includes looking after the home and the tenants who live inside it.
It’s not always possible for you to do this on your own, whether it’s due to time restrictions or lack of knowledge. This is why many people look to hire a professional property manager to take care of their rental properties for them.
Hiring a professional property manager has many benefits. They’re experts in their field and have a sound understanding of the way the rental market works.
But what makes a good property manager? How do you know whether you’ve found the right one for your home?
While it’s great having a property manager who is chatty that you get along with, your investment property is your business. Therefore, it’s best you find someone who has a high degree of professionalism.
Don’t be afraid to ask a property manager for references from previous or current clients, as that will help you to get an idea of the level of service they provide.
As property managers deal with many people on a daily basis, it’s important they have great relationship management skills. From wrangling tenants and conducting viewings to organising repairs with maintenance workers, your property manager needs to have top-notch communication skills.
A property manager needs to be easily contactable, whether it’s in the event of a tenant emergency or if you need to get hold of them for other matters. What service guarantees does your agent have around contact-ability.
Another crucial aspect of property management is reliable delivery: the manager does what they say they will do, to ensure everything is taken care of, giving you a hassle-free ownership experience.
Another feature that great property managers have is efficiency. For instance, when something at one of your rental properties breaks, you’ll want to ensure that it is swiftly taken care of to reduce the risk of the problem getting worse.
As the property manager will be the person conducting inspections at your rental property, they will need to have a keen eye for detail.
A good property manager should be able to pick up on issues and deal with them as they arise.
Multi-tasking is also a feature you should look for in a property manager, as they will need to have the ability to juggle tasks from one rental home to another.
To ensure that your rental property and landlord responsibilities run in accordance with the law, your property manager needs to have a sound understanding of tenancy law. This can vary between states, and rules and regulations can change over time.
So look for someone who is obviously keeping abreast of changing rules.
At Ray White Byron Bay, we are series about property management, with a dedicated team for property management.
If you’d like to find out how we can improve your ownership experience, or if you’ve just bought something and are looking for someone to look after your property, feel free to contact us using the form below, or call us on 02 6685 8911.