- Highly qualified and experienced property managers
- Excellent customer service
- Good communicator
- Proprietary software that facilitates management of properties
- An established network of contractors
- Fee structure
- Experience
Having a highly qualified and experienced property manager is important because they maintain a high level of productivity that translates into lower costs and higher returns. It is important to choose a company that provides its employees with ongoing training because they are the first people a client contacts in an emergency or when there is an issue. It is important to choose a company that utilizes Proprietary software that facilitates management of properties because it ensures accuracy and quick processing. A great Property Manager will have an established network of contractors for maintenance, repairs and landscaping which will ensure the property remains presentable at all times and the property manager can select the best contractor without having to do extensive research beforehand.
Choosing a property manager that focuses on excellent customer service is important because a property manager’s job includes making sure that the customer is receiving exactly what they expect. When customers have a bad experience with a person, company or company-owned building, it hurts the reputation of the property management company.
There are five key points to consider before choosing a property manager:
• The process of getting new tenants and setting up utilities.
• How long they have been in business and how long they have been in the same place.
• What their office staff and maintenance staff are like.
• How easy it was to work with them when you needed something fixed on your place.
• Your community’s needs and how well that property manager can meet those needs with their properties.
A property manager must be a good communicator in order to manage your rental property. The property manager/owner relationship is a business partnership, and communication is vital to prevent misunderstandings and miscommunication.
You will have questions about your property, and it is up to the property manager to answer them. You should never hesitate to ask questions. Remember that it’s in your benefit to understand everything you can about running your rental property.
As a landlord, you are responsible for providing the property manager with accurate information regarding the rental unit such as how many occupants live in the unit, when you want rent paid (and if check-in and check-out procedures will be required) and who has access to keys for the rental unit.
Does the property manager have built for purpose software to manage rental properties? This is important to consider because they need to be efficient and effective in their tasks. While not all property managers have built for purpose software, all of them should have some form of software.
How many properties are being managed by the property manager? A good property manager will be managing between 10-15 properties usually. If they are managing more than this, you should question the ability for them to effectively manage your rental property without the appropriate property management infrastructure. Remember that too much management responsibility can lead to ineffective management of your rental property.
What is the fee structure for the services provided? The fee structure can vary from one company to another. Some may charge a percentage of the rent collected, and others charge a fixed monthly fee based on how many rental units they are managing. Fees do add up over time, so it is important to consider the fee structure offered by your property manager. The fees should be fair and competitive, since the time spent managing your rental property should be reasonable.
What is the experience level of the property manager? The owner/property manager relationship should be based on trust and mutual respect. It is important for you to understand that your property manager will have a lot of responsibility, and if they don’t know what they are doing, things will not run smoothly. All property managers should have a minimum of 3 years experience in property management.
Limnios Property Group is a leader in rental property management in Perth, WA. If you require a property manager who has highly qualified and experienced property managers, a focus on excellent landlord and tenant service, a solid track record for dealing with emergencies and maintenance, professional infrastructure and competitive management fees, then contact Limnios today on 08 9328 3866.
Limnios Property Group is a leading property manager in Perth, WA. We provide property management services to residential investors and landlords, and have the experience and the expertise needed to manage a wide range of properties.
