Newcastle Living Magazine

What To Look For In A Property Manager

If you are in the market for a property manager, there are a range of things to consider before choosing who to manage your investment. Whether you’re looking to switch from your current property manager or you have a new property that requires management, there are some fundamental things to consider. Your property manager will become someone you turn to for advice, so it’s imperative you trust them and that they have the knowledge, communication and negotiation skills, and ability to navigate tricky relationships and situations.

Knowledge and trust are fundamental when choosing an agency and a professional property manager for your property. You need to feel confident that the person handling your investments is capable and up-to-date on owner’s and tenant’s rights, as well as the ever-changing market conditions. As the owner, your property manager should keep you well informed of any changes in rental conditions and the overall market. They should be your most trusted business ally, someone you can speak to about anything and trust that they have your best interests at heart. A good property manager will treat your investment property as they would their own, recognising it as a precious asset to be well-maintained and looked after.

As a property manager, strong negotiation and relationship management skills are vital for creating a positive experience for tenants and owners. These skills are developed through experience rather than taught, and they play a vital role in demonstrating to investors that their assets are valued, and any issues that pop up will be handled proactively. Your property manager acts as a middleman for you and your tenants, so it’s important to assess their level of experience and enthusiasm in this area. If they’re new to the industry, look at their mentors and their agency’s history and reputation.