5 tips for choosing a property manager for your rental.

Renting out your investment property can be a rewarding venture but managing it yourself can be overwhelming. Hiring a professional property manager can save you time and stress, ensuring your property is well-maintained and your returns are maximised.

To explore your options, contact us today! We're here to assist you with any financing questions you may have.

Here are five essential tips for choosing the right property manager for your rental.

1. Do your homework

Start by researching property management companies in your area. Look for full-service real estate agencies or dedicated property management firms that specialise in rentals. Be sure to read customer reviews and testimonials to gauge the quality of their services. Even if a property manager comes recommended by friends or family, independent reviews can provide valuable insights into their reliability and effectiveness.

2. Stick to local professionals

Choosing a local property manager is crucial. They will have a deep understanding of the suburb’s demographics, tenant preferences, and the appropriate rental rates. This local expertise is invaluable when it comes to effectively managing your property and making informed decisions that can impact your investment's profitability.

3. Understand the fee structure

Property management fees can vary widely, typically charged as a percentage of the rent or a flat fee. Familiarise yourself with their fee structure, which may include:

• Administrative fees
• Leasing fees at the start of a tenancy
• Advertising fees
• Charges for lease renewals

Understanding what you get for your money will help you avoid unexpected costs and ensure you’re getting value for your investment.

4. Evaluate communication accessibility

In the event of an emergency or maintenance issue, you need to be able to reach your property manager quickly. Test their communication responsiveness by contacting them with questions. Are they easy to reach? Do they respond promptly? Evaluate their communication style to ensure it aligns with your needs.

5. Don’t be afraid to ask questions

Asking questions is crucial when choosing a property manager. Consider inquiring about:

• The services they provide
• Their approach to maintenance management
• The types and number of properties in their portfolio
• How they handle rental payments
• Frequency of property inspections
• Updates on legislative changes affecting rentals

Your questions will help you assess their expertise and determine if they’re the right fit for your investment needs.

Let’s chat!

If you're considering buying an investment property, we’re here to assist with the financing side of things. Get in touch today at 1300 780 440 or book a call to discuss your options and take the next step toward a successful investment.