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HOW TO CHOOSE THE BEST PROPERTY MANAGEMENT AGENCY FOR YOU:

Here’s a short list of some essential questions you should be asking yourself before just handing over your investment to anyone.

1. Is the company a member of a local industry? Such as REIQ
2. Are they experienced and carry the relevant industry licences required.? In other words, not just a practising PM operating out of a backyard with no real estate licences.
3. Does the company have the most innovative, cutting-edge technology to be able to manage your property? This is super important in enabling efficacy, productivity, and being able to keep up with the ever-changing legislation
4. Does the PM really care about your property? Your PM primary focus is to ensure that they are maximising your income, optimising capital growth as well as maintaining the highest possible rental income for you. You should also be receiving the highest possible service available in the industry as well as being guaranteed. A PM should treat your property as if is his/her own. It makes a huge difference when making decisions on your behalf.
5. How do they select quality tenants? There should be good systems in the agency to ensure you of always select the best tenants suitable for your property.
6. How does the company minimise vacancies? Again, the company should have good systems in place ensuring you as the landlord of as few vacancies as humanly possible.
7. Is the company large or more of a boutique real estate company? Some investors don’t really care whether the agency is small or large. Although, in my opinion, and in the many years of being a real estate agent, I have found it vitally important to have a much smaller, boutique agency. With previous experience in larger companies, you tend to become just another number in the agency, you normally have younger, inexperienced PM’s managing your investment, and you normally have a larger turnover in PM’s meaning you are forever being given a new manager to look after your property. A boutique agency you certainly receive a more personal hands-on service.
8. How often does the company carry out routines? This is critical in ensuring you your property is being well maintained and looked after by your tenant. Regular visits are normally scheduled for every 3 months by your PM. This allows your PM a chance to be your eyes while inspecting the property and to pick up any maintenance or damage issues needing immediate attention and that your tenant may not have alerted the PM too.
9. Communication? It's vitally important to have a good relationship with your PM looking after your property. You should be able to call, email or text anytime to discuss your property being managed by the agency.
10. Is the director/owner involved in the day-to-day running of the business and his/her team? This is a very valid and important question and should be considered when deciding on any agency to manage your property. As we all know, an owner working within his/her business will normally have a better understanding of their team, all the properties under management and the day-to-day running of the business. Obviously, there are many more questions to be asked before handing the keys to your property to anyone.

The above-mentioned are just a few to consider when deciding on the right agency. So, If you’ve either just purchased a property, considering an investment property or you already have a property and considering changing management, then it’s time to give my very experienced team and I a call today. Your property will be in good hands!