Choosing a Property Manager
Selecting a Managing Agent is an important decision – don’t be afraid to ask questions:
- How many staff does your Property Management Department have?
- How many properties does each Property Manager look after?
- Have my calls and enquiries been responded to in a timely manner? If not, how will my tenants’ queries be responded to?
- How far does the marketing arm of this company reach?
- Do their print and online property advertisements grab my attention?
- Do they actively market in the vicinity of my property using letterbox drops and other mail marketing campaigns?
- How do they screen prospective tenants?
- Do I feel that I can openly communicate with this Property Manager and associated staff for the duration of their involvement with my property?
- What references do they have from satisfied clients?
- Is the agency offering advice on maximising my investments?
- Do I feel that Mark Hay Realty is the best qualified agency to handle my property and investment need?
What to do before you lease your property
- Provide 2 sets of keys, including fobs, swipe cards and remotes to your property manager
- We find that the most popular times for property viewings are during lunchbreaks and between 4.30pm and 5.30pm
- Advise your property manager the most suitable time to show prospective tenants through so that they can advertise viewing times up to one week in advance
- Ensure the property is clean and uncluttered Put all valuables away during viewing times
- Consider if your property needs a “spruce up” before marketing for rent. Your property manager can assist you with arranging quotes for painting, repairs and general upkeep of the property.
- Ask your property manager to arrange for the property (including windows and carpets) to be cleaned prior to the commencement of the new tenancy – this will ensure that the tenants leave the property in good clean condition at the end of their tenancy
- Ask your property manager to arrange Landlord Protection Insurance for your property, at an annual cost of only $240; can you afford not to have it? Go to www.rentcover.com.au for more information
- Consider engaging the services of a Depreciation Specialist such as DEPPRO. Many property owners are losing out on potential tax refunds by failing to take full advantage of a property’s tax depreciation potential. Property tax depreciation is available to any property owner who obtains assessable income by way of rent. Go to www.deppro.com for more information
Make sure to also check out our Presenting Your Property Guide