4 things to look for in an exceptional property manager

Finding a property manager that will help you to maximise value from your investment property portfolio can be an extremely tough exercise. group crowd house invest portfolio property paper

With so many different property management companies in the market the degree of service you will receive can vary dramatically.

Too often do property managers promise the world before disappointing and becoming just another ‘transaction filler’.

Here are four features to look for in a property manager to help you find a professional advice-driven service, which will help you make the most of your investment property.

1. Communication25151372_l

Open and clear communication should be maintained by the property manager at all times.

Check to see if the property manager has a customer service charter that outlines their commitments to you.

A good property manager will ensure they return phone calls or emails within one working day or contact landlords within one working day after becoming aware of required repairs or maintenance.

They should also provide regular (monthly) updates on the performance of your property and if rent is being paid on time.

2. Negotiation

Property managers are constantly in negotiations, whether this be about the rental price, lease contracts or gathering quotes for maintenance services.

An outstanding property manager should hold good negotiation skills to ensure you, as the landlord, receive the best outcome.

3. Knowledge and passion

While the number of years a property manager has worked in the industry can be an important factor, it’s not the be-all and end-all.book story house property dream first home learn real estate

What’s more important is their enthusiasm for the industry – do they read industry publications to expand their knowledge, for example?

Do they have a comprehensive understanding of the Residential Tenancies Act?

Do they attend regular industry training courses and seminars?

An outstanding property manager will have a passion for the industry to ensure they stay abreast of the latest trends and information.

4. Professionalism

Professional property managers will be active participants in the broader industry.

Is the property manager a member of any credible industry organisations?

Has the property manager, or their company, won any industry awards for their excellence in property management and customer service?

Furthermore, ask if the property manager has a cap on the number of properties they can manage as some individuals will handle hundreds of properties, which will mean a poorer service for you.

Want more of this type of information?

Damian Collins


Damian is managing director of Momentum Wealth, a Perth based property investment consultancy firm. A successful property investor in his own right, Damian formed Momentum Wealth to assist time poor investors in building their portfolios and applies his many years of experience to help clients accelerate their wealth creation. Visit www.momentumwealth.com.au

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