Investment property owners – let’s face it, there’s many different types. Here’s just four …
- The portfolio professionals;
- The enthusiastic new owners;
- The above-market rent chargers; and
- The ‘cheap-fix’ landlords.
If there’s a type you’ll want to identify with, it’s probably not the latter two.
Because while it’s nice to pat yourself on the back for saving a buck in avoiding a repair, you could be band-aiding a broken pipe that’ll become an explosive cost down the track… which isn’t exactly a ‘profitable’ investment mindset.
But just as goals and values vary between landlords, property managers can also be branded in different categories.
The key to choosing the best one is understanding what their purpose is, and how they have the potential to do more than simply collect the rent – but also to add a wealth of value to your property.
So if you’re looking for someone who can just find you a tenant, leave rent prices as-is and not bother you with any tenant concerns, then perhaps you’re content with a bargain-priced property management agency.
Alternatively, if you’re after a proactive partner who will look after every aspect of your asset with a deliberate strategy, you may want to look beyond your lower-tier agencies – and onto a little more value for money.
Identifying a top quality property manager requires looking for a professional who will:
- Manage your repairs and maintenance (so that your property is kept in top condition and your tenant remains happy to stay)
- Provide feedback as soon as the market changes to ensure your investment stays on track
- Notify you as soon as your tenant gives notice
- Find you a tenant immediately, through a dedicated leasing team – rather than have you lose valuable money while your property sits vacant
- Look after your property with planned, regular improvements for better property condition standards
- Keep your tenants paying on time with low or no rent in arrears
- Understand the importance of maintaining a great relationship with your tenant
- Provide an easy-to-use online management system, for efficient communication
It’s worth noting that the difference between poor and premium property management mostly comes down to a few extra dollars per week. Yet the difference in the service that you receive could be enormous – especially when you’re counting those dollars over the lifetime of your property.
Our advice? Check out your property manager’s Google Reviews to weigh up if it’s worth making the switch to a premium agency.
If the question is whether or not you can get good value from a ‘cheap’ agent, you’re likely to find the answer aligned with most other services… that in the end, you get what you pay for!
Prudential Real Estate Campbelltown | (02) 4628 0033 | campbelltown@prudential.com.au
Prudential Real Estate Liverpool | (02) 9822 5999 | liverpool@prudential.com.au
Prudential Real Estate Macquarie Fields | (02) 9605 5333 | macquariefields@prudential.com.au
Prudential Real Estate Narellan | (02) 4624 4400 | narellan@prudential.com.au
