How to choose a Property Manager
Twenty-Two questions to ask Your prospective Property Manager
- Are they local people with local knowledge?
- What supporting facts and figures do they provide to back up their rental appraisal figures?
- How long will it take them to find the best tenant for your property?
- How thorough are they with tenant screening and background checking?
- Will they put just any tenant in your property just to get it rented?
- How many prospective tenants do they have on their database?
- How do their online listings look? Are there mistakes or poor-quality photos used in their advertising?
- How thorough are they with their property condition reports at the beginning of each tenancy?
- Do they get out of their vehicle to conduct routine inspections or is it a drive by?
- How often do they attend court on behalf of their owners on a monthly basis?
- What are their rent arrears percentage?
- How often will they conduct a rent review on your property?
- What special clauses do they routinely use in their tenancy agreements?
- Are rents collected held in a fully audited trust account?
- Do they have suitably qualified staff to cover when your property manager goes on holiday?
- Do they provide a 24/7 365 day a year service?
- Do their property managers receive on going training in the RTA and other relevant legislation to ensure you stay informed and on the right side of the law?
- Will they work with you in a way that works for you but doesn’t compromise the service they offer?
- Do they work for you and at the same time form healthy relationships with your tenant to encourage respect for the property, long duration tenancies and high occupancy?
- Will they give helpful advice and keep you informed on specialist matters that affect your investment such as insurance requirements and legislation changes.
- Do they give sound advice on how you can maximise your return and minimise your risk?
- Are they the cheapest or are they the best?