As a property investor, teaming up with the right property manager can make a huge difference to the success of your investment. A great manager takes care of the day-to-day, keeps your property profitable, and makes sure it’s well-maintained. Knowing how to choose the right property manager is key to maximising your investment returns and ensuring peace of mind.
Define Your Needs
The first step in how to choose the right property manager is working out exactly what you’re looking for. Do you need help with just selecting a tenant or full-service management? And what’s more important to you—someone proactive, on the ball, and diligent who might charge a bit more, or a budget-friendly agency offering basic services?
Start your Search
Start your search for how to choose the right property manager by looking at Google Reviews and checking out their online presence. See if they’re members of professional organisations like the Real Estate Institute of Western Australia (REIWA). Pay attention to how they advertise properties. Are they using quality photos that really show a home at its best? That’s important because good advertising attracts quality tenants faster.
Shortlist and Interview
Once you’ve shortlisted a few managers, set up interviews to ask about their experience, tenant screening processes, routine inspections, how they handle maintenance, and their fees. Asking these questions will give you insight into how to choose the right property manager who is transparent, knowledgeable, and easy to communicate with.
Observe Their Work
But don’t just take their word for it. If you can, attend one of their home opens to see how they interact with potential tenants and handle the event. A manager who creates a good tenant experience is more likely to secure long-term tenants, which means less downtime and better returns for you. This step is a critical part of how to choose the right property manager. Ask about their vacancy rates and whether they’re up-to-date with their knowledge of ever-changing tenancy laws.
Review the Management Agreement
Once you’ve found the right manager, go over their management agreement carefully. Make sure it matches your expectations, and ask about anything that isn’t clear, like cancellation policies or extra fees. Ensuring clarity here is a vital part of understanding how to choose the right property manager who aligns with your goals.
Preparing Your property
Getting your property ready for tenants is key. Fix any repairs, make it look inviting, and have all the necessary paperwork ready, like insurance details and keys.
Establish Clear Communication
Set clear expectations for how and when you’d like updates. Discuss with your property manager how they will keep you informed, such as through email, phone calls, or a landlord portal. Regular and open communication not only helps you stay updated but also fosters trust and a strong working relationship. This is an essential step in how to choose the right property manager effectively.
Taking the Next Step
Finding a good property manager doesn’t have to be daunting. Taking the time to research, asking the right questions, and setting clear expectations will help you find a property manager who’s a great fit for your investment. Once you’re ready to take the next step, reach out to experienced property managers in your area to discuss your goals and see how they can help you achieve them. Start by jotting down what matters most to you and tackle the process one step at a time.
If you’re a landlord with questions about managing your property, don’t forget to check out our Landlord FAQs page. It’s packed with answers to the most common questions we hear from landlords, covering everything from tenant selection to property maintenance and legal requirements.
For more professional advice on how to choose the right property manager, visit this helpful guide.
