In this article we share unbiased, simple steps for you to take in finding a really good property manager.

Tip: You’ll want to do more than just search ‘best property management company North Lakes, Mango Hill’ or wherever you are. 

You’ll want to find a Property Manager that ticks all the boxes in terms of the services they provide, but do not under estimate the value of your gut!

If you get the feeling that a Rental Management team is sterile, too big to care about each property/client or just in it for the commission – trust what your gut is telling you. Too many have been left dissatisfied and frustrated by the poor care of their current property manager.

Your investment is important. So you want to be sure that your property/properties are being managed by professional, ethical and caring people who are knowledgeable of all required Queensland legislative compliance.

Rental management is an industry that undergoes legislative changes constantly, so as well as finding someone who gets it, it’s important that your investments are being managed by people who are informed and follow the right procedures to cover you.

In this article we have outlined a few key points to consider when choosing a managing agency for your investment property/properties. We’ll cover what your gut won’t know to tell you.

Legislative Compliance

Over the last decade, property management has undergone a significant transformation, from simply a rent collection service, to a dynamic investment management and service system. This changing scene has brought about the need to appropriately manage new legislation and the consequences to ensure fairness for both owners and tenants alike. For Queensland there have been changes in relation to Smoke Alarms, Corded Window Coverings, Pool Safety Certificates, and Water Consumption Charges to name a few.

It is important to realise that with these changes to the legislation comes a greater onus on owners and agents to follow the requirements of these laws.

Now more than ever, it is prudent to ensure that your property is professionally managed by entrusting it to a manager who is trained, experienced and equipped to meet these ever changing needs.

The Role of a Property Manager

Your property manager will act as guardian of your property and will provide a range of services on your behalf that include:

• Thoroughly screening and selecting tenants
• Acting according to legislation and best practices to ensure a landlord is meeting their rights and obligations
• Receiving rents and issuing receipts
• Arranging repairs and maintenance to the property
• Paying of accounts such as water services, rates and invoices
• Marketing the property to secure a new tenant
• Reporting on the condition of the property before, during and after a tenancy

According to the Queensland Government website on How to Appoint a Property Agent, it is the legal responsibility of a Property Manager to;

• Respond quickly to requests for maintenance or repairs (but not all do!)
• Act in your best interests, such as when getting quotes
• Make sure any repairers (such as builders, carpenters or electricians) have relevant licences
• Have a procedure for handling complaints (and comply with it)
• Carry out inspection reports and inventories
• Guide prospective tenants on their inspections (unless you tell them otherwise in writing).

Simple Steps for Appointing Your Rental Manager

When choosing your agent;

1. Read their appointment form carefully
2. Get a list of the services they will do for you
3. Consider their commissions, fees and charges

You should also ask about their procedures for;

1. Carrying out maintenance or repairs (including quotes and receipts)
2. Handling complaints
3. Ending a tenancy, including evictions (find out how long rent can go unpaid).

Following these simple steps will ensure you know all you need to know before making your choice. The next step is the most important.

Listen to your gut.

Ask yourself;

Do you know who will personally be looking after your property?

Do they seem genuinely interested in your financial investment?

Are they easy to get along with?

Do they pay attention to your requests and observations without dismissing the point?

How many properties do they manage at one time and is their portfolio too big for the team to give enough respective time to your property?

How much experience do they have?

Now what is your gut telling you?