The strong demand for skilled Property Managers
By | 11th Jul 18

What to look for in a property manager

With commentary around the suspected oversupply of apartments in key areas of Melbourne, it is more vital than ever to have an experienced property manager managing your property portfolio as the volume of vacant apartment’s increases.

The strong levels of off the plan development in the last five to eight years in Melbourne has forced investors to look for property managers to lease their investment properties to quality tenants.

It can be a challenge but it is important as finding the right tenants is crucial to protecting your property and ensuring you maintain a steady rental return. With the competition of rental properties on the market, it has never been more evident that having an experienced property manager is important. 

What to look for in a property manager

A great property manager is somebody who can prioritise, multitask, and place the right quality tenants into your property. It is important to be able to trust your property manager as they will essentially be taking care of your investment on your behalf. We think having a property manager who is passionate about real estate and property is essential. Having a sound understanding of the market trends and legislations when it comes to tenancy laws and processes is imperative and goes without saying, with over 500 rules and regulations listed in Victoria’s state legislation.

From a technical point of view, understanding landlord and tenant rights is important but we also think a property manager who is detailed, follows through on outcomes and is proactive, creates a recipe that sets up your investment to succeed overall.

Some things to consider when selecting your property manager:

  • When interviewing your prospective property manager, ask questions about how they deal with negotiation, difficult situations and in their experience how they have mitigated tricky tenants in various situations.
  • It is also a good idea to find out how they manage advertising and vacancies to understand clearly, what is involved financially but also from a process point of you so you know what to expect.
  • Stability is essential. Understanding how long your property manager has worked in the organisation and how long they have been in the industry is key.

 

If you would like more information on our Property Management service, get in touch with one of our award winning team members:

Laura Braun - lbraun@advantageproperty.com.au

Karen Knight - kknight@advantageproperty.com.au

Chloe Zhangi - czanghi@advantageproperty.com.au