Real estate investors know how important it is to leave the day-to-day running of their properties in the right hands. A good manager is the key to high tenant retention, consistent income, and reduced liability. When you hire the right people to oversee your investments, you can rest easy and focus your efforts on other important matters.
There are many property management agencies in Brisbane that can help you. Before you choose one, however, it pays to know the most important qualities to look for.
1. Experience – One of the first things you should check is the company’s track record. What kind of properties have they managed in the past? How many are they currently handling? They will be responsible for a wide range of responsibilities, from accounting to tenant screening. You need to know that they are capable of delivering results.
2. People skills – Arguably the most important thing to have, your property manager must be able to work well with tenants. Being able to resolve disputes or pacify angry tenants is certainly helpful, but just having a pleasant and approachable demeanor makes an immense difference.
3. Standardised procedures – Professional agencies should have clearly defined operating procedures to follow. Everything from building maintenance to rent collection should be done in a timely, organised, and well documented manner.
4. Responsiveness – You will want to hear about how your properties are doing, or occasionally want to give them specific instructions. Good property management companies have excellent communication skills, are willing to cooperate, and make sure that you are always in the know. Full transparency is also vital.
5. Continuous improvement – The property management industry is a highly competitive one, and the best agencies continue to improve their craft. A commitment to employee training and cutting-edge management software is a good sign.
These traits should give you a clear idea of what separates actual property managers from people who only know how to collect the rent. Take the time to really find a company that you can trust and work with for years to come.