How to Choose a Property Manager

Mar 18 2012 / 7:52 pm Was written by Atwell & Co. Comments Off

property management, property management melbourneProperty management is the operation of residential and commercial real estate typically done by a hired licensed professional, a Property Manager. Responsibilities of property managers include collecting rental payments, finding and screening new tenants, marketing and promotion of the property to fill vacancies quickly, arranging for and supervising repairs for the property, periodic inspection of property, oversight of evictions, notices to tenants of rule violations and late/nonpayment, and liaison with local and regional building authorities. Property managers may also assist owners with the management of property construction or remodeling and new property development.

Why hire a property manager in Melbourne, Australia? Simple, property managers are trained and licensed professionals with experience in building management, maintenance, negotiating with contractors, and a liaison with regulatory officials. Having a property manager manage your property allows you time freedom and peace of mind knowing your property is being cared for by someone that knows all the ins and outs of property management. They also provide the owner with accounting of all money received and disbursed on each property.

Carefully and thoughtfully screen possible property managers for your investment property as you would a new babysitter for your child. You will trust this person to handle finances, take care of your valued tenants, uphold the rules of the property, maintain good working relationships with local and regional building authorities and overall take care of your property. Their focus must be on insuring your property is well-cared for, operating within budget and adhering to all local, state, and national laws.

Ask for, and check references: focus on individuals or property management companies whose entire focus is on property management. Ask about the credentials, where and how they were trained, what sizes and types of properties have they managed in past and now in the present. Be determined in your investigation. Lead them to give you examples of marketing and sales programs that have initiated to fill vacancies in the properties they manage. Check with local building authorities in Melbourne, Australia to ensure they have good working relationships with them.

Schedule in-depth interviews where you can learn about their background in the field of property management and clearly outline your objectives for your property and their responsibilities. A good property manager will have a varied background and immense skills. Marketing, public relations, contract negotiations, people skills, maintenance, construction management, knowledge of laws relating to investment properties are all key things to look for in your property manager.

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