If you are shopping around for a property manager for your investment property, it is important that you know what quality and range of services you are paying for.
Not all property managers are the same.
In order that you make an informed decision, ask the following questions of the agency you are considering for the job of managing your property.
Property Leasing
- Do your property managers work closely with the leasing agents?
- Do you have a choice of letting agents?
- Do your property managers work closely with your solicitors for preparation of leases?
Property Management
- What documented systems are in place for property management?
- What is your process for dealing with rent arrears?
- What is your process for dealing with repairs and maintenance?
- What steps do you take to ensure that all contractors working on my property are properly licensed and insured?
- What steps do you take to ensure that all maintenance work on my property is competitively priced?
- What is the experience level of my staff members who will be leasing and managing my property?
- How much training have they had?
- How frequently will you account to me for rent monies collected on my behalf?
- Can you send me rent statements by email and deposit my money in my bank account electronically? (Yes/No)
Customer Service
- Do you provide a service guarantee? (Yes/No)
- Does the agency have documented service standards? (Yes/No)
- What back up staff are there in the event that my property manager is sick or on holidays?
- How frequently will you communicate with me and what form will it take?
- Do you have the proper licences to hold and operate a trust account?