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.
An open line of communication is vital and should never be taken for granted when it comes to property management. A good property manager understands that life isn’t always 9 to 5, and a simple call can save hours of emails and misunderstandings. Things often happen outside of work hours, so knowing that your property manager is always available to help is reassuring for both the owner and renter. The assurance of knowing that someone is on hand to help if a pipe breaks, an accident occurs, or to notify you of any maintenance required provides peace of mind.
Regular reports and thorough updates about the property are also part of a good communication strategy; take these seriously. Knowing your property manager is regularly inspecting your property and keeping you informed of any issues gives you assurance that your investment is sound. Property management software, online portals, and automated reporting systems can significantly enhance efficiency and communication, and these technological tools allow property managers to provide real-time updates to owners and tenants. A property manager who embraces and leverages technology demonstrates their commitment to providing the best service.
Contact Vivien Rendina
To see that the Ray White Newcastle property management team ticks all these boxes, get in touch for a no-obligation chat.