Maximise your investment with the right property manager

Finding the right property manager is one of the smartest things you can do to protect and maximise your property investment. A good property manager will do more than just collect your rent – they’ll find and manage your tenants, organise maintenance, preserve the condition of your property, increase its value and maximise your rental return. Ultimately,  your relationship with your property manager is an ongoing business partnership and like any partnership, it pays to do your research. Here are three key considerations when choosing a property manager to make sure your experience as a landlord is both enjoyable and rewarding.

Optimising your investment

A good property manager will find high quality tenants, conduct inspections and provide timely advice to increase the value of your investment. They will regularly review your rental, have access to comparable rents and negotiate appropriate increases while minimising vacancy periods. A good property manager will also give you rental comparisons with other properties in the area to ensure you are receiving the right rental return and attracting appropriate tenants.

Managing risk

The Victorian Residential Tenancies Act has more than 400 sections and a good property manager will know the legislation inside and out, and stay abreast of any changes. They’ll make sure your legal interests are covered in relation to your property, will draw up leases and submit bonds to the Residential Tenancies Bond Authority.

Quality of service

A great property manager will provide high quality service which effectively removes stress for landlords. From screening and signing up tenants, resolving any disputes, preparing comprehensive inspection reports and sourcing reliable tradesmen for maintenance – these tasks should be managed quickly and efficiently. Always look for a property manager who is a licensed Real Estate Agent and don’t be shy to ask about their experience and processes: How many properties do they manage and where? How long have they been in the industry? What is their tenancy database like? What is their experience with conflict resolution and can they provide examples?