Investment Property Management

5 Key Things to Look For in a Property Manager

Buying a property is one of the biggest investments you can make and represents a huge moment of accomplishment, so it goes without saying that when trusting an agent with your most valuable asset, you want to be in safe  hands. 

 

There are so many qualities and skills that make up a great Property Manager, differentiating the ones who simply collect a fee, to those who are exceptional at what they do. We sat down with some of our Property Management Team, to find out from their experience, what makes an amazing Property Manager;

“One thing I believe is most important is transparency and open communication with an owner, not just over email! Speaking with an owner transparently and openly gains their trust in you to manage their property.” – Kerrie Rushworth

“I think something that my clients would say about me is that I am very genuine. I always bring a genuine openness, which I find then creates trust because they know I am being real and honest with them. On a practical level, Property Management can be full of problems to solve. One key quality of any  amazing Property Manager is their ability to analyze details, use their expert knowledge and skill to cultivate creative solutions to any problem that comes across their desk.” – Jordy Woolley

“I’ve always worked with the premise that there is a property for every kind of tenant and the perfect tenant for every property. A diverse portfolio displays this theory if tenants are thoughtfully matched. One aspect I always discuss with a landlord is the potential longevity of a tenancy. A high turnover of tenants proves costly for an investor, therefore I will always bring this consideration to the table when discussing a potential applicant with a landlord. Some things to consider for the longevity of a tenancy; accessible infrastructure, neighbours, do they have children with changing needs, will the rent increase and will this be affordable etc.” – Rachel King

“Property Management can be full of problems to solve. One key quality of any  amazing Property Manager is their ability to analyse details, use their expert knowledge and skill to cultivate creative solutions to any problem that comes across their desk.” – Jordy Woolley

As the first point of contact between both landlord and tenants, property managers must be responsive and exceptional at dealing with day-to-day issues with certainty and clarity as they occur. While maintaining excellent communication in keeping clients and customers updated on any and all affairs, concerns and actions. Within any market there are almost micro-markets; depending on suburbs and even certain streets within them. Your property manager should not only understand and follow these, but is eager to keep up to date with market trends by following other listings in the area. This enables them to give their clients the best and most comprehensive advice possible – while being excited to do so. 

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As a highly intricate and coordinated role; with any individual property manager having a portfolio of many multiples of properties under their care, having attention to detail and ability to organise several tasks, trades, landlords, tenants, strata managers, and more simultaneously is a predominant skill for any agent to have. While it is the highest importance for any agent to keep a professional and competent attitude toward all clients and customers; as well as having the ability to respond to issues with emotion aside – Having a property manager who is genuinely interested in and empathetic toward all their clients is of great value. Many agents form relationships with both landlords and tenants over years of managing properties, and so with this are able to advocate for both sides in order to have the best outcome for all parties” – Maille Noonan

 

“As the first point of contact between both landlord and tenants, property managers must be responsive and exceptional at dealing with day-to-day issues with certainty and clarity as they occur. While maintaining excellent communication in keeping clients and customers updated on any and all affairs, concerns and actions.” – Maille Noonan

“Personally, when a client is looking for a property manager, I think the biggest thing is trust and being honest. When looking for a property manager, I think clients should see if the property manager they meet is someone they get along with, someone that tells the truth, and someone that is honest the entire time, as the client has a long term relationship looking after one of their biggest assets, and they need to feel like we look after their property like it is our own. Clients should feel like the PM is not just a service but an advisor and have a good relationship with them. That is my biggest thing to look for when having someone manage a property – Trust… As you are in it for the long run.” – Tarl Buckley

If you’d like some advice on your investment property, feel free to get in touch with one of our team and we would be more than happy to chat with you. 

 

Molenaar x McNeice
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