Six features to look for in a Property Manager
While there are many factors that contribute towards an excellent property manager, here are our top six features to look out for when selecting a manager for your asset.
Selecting the right property manager can play a pivotal role in optimising the performance of an investment property. While there are many factors that contribute towards an excellent property manager, here are our top six features to look out for when selecting a manager for your asset.
A property manager who values accountability will take ownership of operating your asset and their overall approach will be defined by a deep sense of responsibility. Accountability often indicates other compelling qualities such as keen attention to detail, professionalism and due care for people and property. It’s important that they extend this to tenants and landlords alike.
‘Treating both parties fairly and equally will ensure tenants feel cared for and there will be fewer vacancies down the track,’ says Marshall White business development manager, Neil Harris.
- Strong communication skills
Communication is a key part of a property manager’s role and a skilled individual will confidently change their style to match a variety of situations. A warm and approachable manner will build rapport with tenants and make them feel at ease when entering their home whereas clear assertive communication is crucial when negotiating conflict.
‘A good quality property manager will communicate honestly and promptly with their clients. Numerous clients have expressed their disappointment with previous property managers who rarely returned phone calls or hid behind emails,’ says Neil.
- Local knowledge and experience
Look out for a property manager with relevant local knowledge and experience as they will be best placed to deliver tailored advice for your residence.
‘At Marshall White we strive to develop a detailed understanding of local demographics, infrastructure and architecture to guide our decisions on marketing as well as our recommendations for non urgent repairs and maintenance,’ says Neil.
- Company values
Be sure to investigate the overall values of the organisation which employs your prospective property manager. Look for a company that prioritises keeping portfolio numbers down and employs specialists who will be able to offer a more tailored experience.
Whilst even the most dedicated property manager will need to take sick leave and annual leave from time to time, a company that fosters a tight knit and supportive environment will have alternative employees who can step in and assist.
Consider how the brand reputation aligns with your property and if it is a match that will benefit you. Certain tenants, particularly in the prestige property market, choose to only rent from agents known for delivering an excellent standard of customer service.
With future planning in mind, it is useful to select a company with a respected sales department attached. If or when you choose to sell your investment an existing relationship could make the process much smoother.
- Performs Routine Inspections
When investigating a potential property manager enquire about their process for performing inspections. It is paramount that these are performed regularly and a comprehensive report is compiled. You should be kept well informed on your asset throughout the tenancy period, even if you are located overseas.
- Technologically Savvy
Technology is constantly evolving and disrupting the property industry, a property manager who embraces technological advances will stay at the forefront of the industry.
‘At Marshall White we are constantly reviewing processes and looking at how new technologies can improve the experience we offer our owners and tenants,’ says Neil.