How Do You Choose the Right Property Manager As an investment property owner, you have invested in one of the most valuable assets you're likely to own so it is vital to choose the right team to manage that asset and achieve the best return on investment.
Hi Erin here from Madeleine Hicks Real Estate and choosing a property manager can be a lengthy and difficult process. However, knowing the right questions to ask can go a long way to helping you hiring the right person for the job.
Some of the main questions that you should ask include:-
Is the owner of the business involved in the day to day running of the property management division. Often property management is the poor cousin to the sales department. Having an owner that works in the Property Management division shows that the business is serious about managing client properties.
Do you have a strict tenant selection and screening policy? Ensuring that good quality tenants as selected and bad ones are avoided is vitally important to the efficient management of your property.
Do you do regular property Inspections and how often are they completed? Property inspections are very important in ensuring that your investment property is being well maintained by the tenant. Oh and make sure that you are sent photos every time.
Do you have a formal policy for dealing with tenants that are late with the rent? sometimes tenants fall behind in the rent. In these circumstances a strong procedure will ensure that the rent is brought back in order as quickly as possible, or other remedial action is taken.
These are just a few of the questions that you should ask a prospective property manager. There are plenty more that you should be aware of as well. So we have produce a guide with 23 Questions that you should ask your property manager. You will be able to download the guide in the link below this video.
Remember, your property is one of your largest assets and the income that you derive from your investment property can make a big difference to your way of life. Finding the right team to manage your property can make or break that income.
For more information or to arrange an inspection please call 07 3355 6845 or visit: www.madeleinehicks.com.au
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