Choosing the right property manager to care for your investment!

Posted by Unknown on Thursday, April 23, 2009

Finding a property manager who will manage your properties is critical to investors. Here is a list of areas that you must consider prior to making your selection; and remember it is no longer necessary to use a local real estate agency, if you have several properties try and find an agent who will manage all of them as the advantages of dealing with one company and one manager far outweighs the need of dealing with several.

An informed and proactive property manager:

Understands that a vacant property is the enemy of investors
Comes to the intervew prepared with comparable rent values and an estimate valuation
Has forwarded to you via email or mail information on their business
Asks what your specific needs are and sets an agenda for your meeting
Follow us if they do not list the property
Provides references or testimonials
Understands how the current rental makret is performing
Isn’t easy to negotiate with, remember you want a property manager who can negotiate
their fees or you need to ask yourself how will they get you market value for your rental
Does not hand out keys but meets all prospective tenants at the property
Have processes in place to call or sms you after each open for inspection
Looks after a reasonable size portfolio
Clearly explains their tenant selection, arrears, rent reviews and lease renewal process
Clearly understands how you want to be communicated with and frequency
Makes contact with you on a regular basis
Provides you with simple property management statements
Provides your accountants with a financial year statement
Provides you information on landlord insurance
Attends body corporate meetings on your behalf
Is experienced at VCAT however is not a frequent attendant
Is committed to their professional development

It is important to remember that the cheapest property management rate will not get you the best property manager.

Metro Property Management core business is investment properties. We manage properties here, there and everywhere, we research every area and our clients love the fact that they only have to deal with one company for all of their property needs.

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