How to choose a property manager

How to choose a property manager

7 great tips to help you find a reputable property manager

1. Search in the area that your rental property is located

Having a property manager that is based in the same area as your investment property is key.  A local property manager will have inside market knowledge, will be able to appraise the property accurately and know what tenants in your area are looking for, they may even have existing tenants on their wait list that can move straight in, saving you some costs in advertising!  

2. Research is King

It's 2022 and we all have the wonderful tool of the internet.  Internet can be used to find other people's experiences and opinions of local property managers and agencies

• Google. Check the map, ratings and reviews of local property management and real estate agencies.  Check out our reviews here for example!  
• Productreview.com.au. Check out reviews from fellow investors at this useful website to get an idea of what to expect from an agency.
• Rent.com.au. Search a directory of more than 6,200 property management agencies throughout Australia.

3. Word of mouth

One of the best ways to find a reputable property manager is ask friends and family who they use for their investment property.  Are they super happy with their property manager?  Then why not use the same one?

4. Ask crucial questions

Property management companies will always sound fantastic on their websites, but it's best to ask a few critical questions too to establish how they operate and who will be looking after your asset.

5. Check what service you will receive

Some agencies only inspect properties twice a year, whereas others inspect religiously every 3 months.  Make sure you know what you are getting for your money.  Here at Baber & Co Rental Specialists we inspect every 3 months to ensure our properties are looked after.

6. Communication is key

One of the most common complaints we hear from new clients coming over from their existing agency is poor communication.  Lost emails, phone calls un-returned and tenants moved out with no warning!  Make sure your property manager is easily contacted by telephone and email.  Here at Baber & Co Rental Specialists we pledge to get back to clients on the very same business day!

7. Count the cost

The management fee should be one of the least important factors when selecting your property manager.  Yes you may be able to find an agency offering low 5% management fee, but chances are the service will be low too!  

Important questions to ask a prospective property manager

 

1. What are your qualifications? Here in Queensland, there are two types of qualification; registration and full licence.  Someone with a full licence is likely to be more experienced and skilled.  Here at Baber & Co, Naomi Baber holds her full Real estate licence.
2. How many properties do you manage as a company? It's important to understand how many properties a company is managing.  Be mindful that a large number is likely to mean there is less time to spend on your investment.  Baber & Co Portfolio looks after a small portfolio, so we have plenty of time to give the right amount of attention to each client, home and tenant. 
3. How many properties are allocated to each manager within the company? This will reflect the time spent per property.  Our recommendation is no more than 100. 
4. What is your commitment to best practice? This is a fairly open question, what you want to hear is that they have systems in place, well trained staff and core values they stick to. 
5. How will repairs and maintenance be handled?  This is important, you need reassurance that you will be contacted for approval prior to any work taking place.
6. How often will you inspect the property? Best practice is 3-4 times per year.  Some agencies only commit to twice a year, some don't attend at all!  This is the biggest and most important part of any property manager's service to you, so make sure you know what you're getting. 

Want to know more about our service guarantee?  Click here 

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