What Qualities To Look For In A Property Manager
By Jahnae Jackson
If you have purchased an investment property, your next step is usually hiring a property manager. From finding your tenants to maximising your investment potential, engaging a property manager has many benefits. But how do you choose the right one? Here are the top qualities you should look for if you want to hire a professional property manager that delivers results.
1. Communication Skills
Since your property manager is yours and your tenants’ main contact, they must have strong communication skills. Your property manager should be prompt and reliable when keeping you informed about factors that impact your property’s performance. These factors include marketing, tenant selection, maintenance, inspections, rental payments and lease renewals. Having these insights helps you make the best decisions about your financial asset.
What’s more, they must also be responsive when communicating with your tenants. The quicker your property manager can resolve issues, the more satisfied your tenants will be, which means they will more likely take better care of your property. As a result, hiring a property manager with effective communication skills can help you retain quality tenants, keep your property better maintained and improve your rental returns.
2. Market Area Specialist
Your property manager must be a market area specialist with an in-depth knowledge of the area’s current trends, conditions, demographics and demand. They should conduct weekly market area research, so they know the average rent, level of demand, popular features, and other critical facts and statistics. This information can help you make important decisions about your investment, such as how to improve your property’s appeal, market your property and achieve the maximum rental rate.
3. Property Management Knowledge
When it comes to choosing the right property manager, their level of industry knowledge is key. You should select one who can demonstrate their understanding and experience in managing similar properties, finding and retaining quality tenants, dealing with tenants’ issues and increasing rental returns. However, make sure you don’t overlook a well-trained property manager who may be new to the industry. If this individual is part of an experienced team, they can draw on this collective expertise and still deliver great results.
4. Property Investor Mindset
It goes without saying that your property manager plays a pivotal role in the success of your investment property. That’s why, when it comes to hiring a property manager, you must make sure they have an investor mindset. Having this mindset ensures that they focus on maximising your property’s appeal and returns. They should provide ongoing and up-to-date information about your property’s performance and offer strategies that could add value to your asset.
5. Positive Reviews
A property manager should provide you with testimonials that demonstrate their professional service, local market expertise, industry experience and excellent results. These reviews can give you peace of mind that the property manager you are considering will offer a rewarding experience for both you and your tenants. As well as asking for written testimonials, it’s a good idea to check the real estate agency’s Google and social media reviews too.
With our local market knowledge and years of experience, the ManageMe team is here to help you achieve your property investment goals. Our knowledgeable and experienced property managers are committed to providing you with the highest level of service and will assist you every step of the way. If you are looking for a Gold Coast property management agency to help you maximise your investment potential, contact us today.
Before making any financial decision, you should seek independent financial advice from a licensed financial advisor.
