A property manager is a crucial part of investing in property. While some people may choose to do this themselves, an industry expert you can trust can make a huge difference in the success and smooth running of your property. However, finding a good one that fits your needs isn’t as simple as an internet search. Here’s some tips to help you find the right fit:
Start Online
If you’re here, you have already started your online search but it is definitely a great place to begin. The internet has a wealth of information and a good property manager will have an online presence. Once you have a few names, check each company’s website, including mission statements. Look for reviews on sites like Facebook or Google.
Ask friends and family
Talking to people you know and trust is extremely valuable for any big decision. If you know people who have invested before or currently have an investment property, this is a great way to find out what their experience is like and if they have any recommendations or tips. Make sure to ask about any problems they have had as well.
Meet with many people
Once you have a list of prospective property managers from your online search and referrals from people you know, the next step is to meet whoever you have shortlisted. You’ll want to interview several managers to find the best fit for you.
A few things to ask about include:
- Experience and qualifications
- How many properties they manage, what kind, and where
- What makes them different from other managers or agencies
- What other services do they offer
- What is their fee structure and how do they market properties
Visit their properties
On-site visits can tell you a lot about how a property manager works and the care they put into their client’s investments. Keep an eye out for how the property is looked after, if it is tidy, or needs repairs or maintenance. Also speak to the tenants if you can to see if they feel like their complaints get addressed and any work is resolved in a reasonable timeframe. Ask if they will be renewing their lease and why or why not.
Check the fine print
You will have to sign a management agreement when you pick a property manager, so it is important you understand what you are signing up for. You may even want a lawyer to look over the contract to make sure you’re protected.
If you are looking to invest in property, a property manager can be the difference between a bad investment and a great one! But finding the right manager is also crucial. Consider these steps to ensure you are on the right track, and if you need help finding someone, talk to our team – we work in the industry and can make some suggestions to get you started.
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