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How to choose a good property manager

After purchasing numerous investment properties in a range of markets, if there’s one thing InvestorKit understands, it’s what separates the good property managers from the bad.

Good property managers are worth their weight in gold, because they help protect and enhance the value of your asset. InvestorKit is fortunate to know many good property managers throughout Australia.

Bad property managers, by contrast, undermine the profitability of your investment property.

So how, then, do you assess the quality of a property manager? By looking for these four things…

Knowledge

Real estate is a local game. Good property managers understand the street and suburb where your investment property is located. They’re also across the ever-changing balance between supply and demand in the local area. That means, at any moment in time, they’ll know what sort of rent you can charge and how hard you need to push to find tenants.

Care factor

Good property managers treat your property like it’s their own. They want to find you the best tenants. They want to get you the best rent. They want to keep your property in the best condition. They want to address maintenance issues with the best tradies. In short, they want to give you such great service that you sleep well at night.

Problem-solving skills

Even the best investment properties experience problems from time to time. The tenants might fall behind on their rent; the hot water system might flood the home; the neighbors might party at all hours of the night. Whatever the problem, a good property manager will have the experience to solve it quickly.

Relationship-building skills

Happy tenants pay the rent on time and treat the property with respect; disgruntled tenants wonder why they should do either of those things. Good property managers go out of their way to build solid relationships with tenants, so they’re more likely to remain happy.