A good property manager will have your best interests at heart. They will also be able to balance the needs of your tenant and even accountant, providing timely service and excellent record-keeping. It might sound like you’re asking a lot of one person. Expert property management is a team effort.
A real estate agent with a property agent dedicated to looking after rentals embeds this resource within the agency so that they’re keenly aware of market fluctuations and values.
Your property manager is someone you’ll need to talk to and email throughout your relationship. You should expect periodic property reports and that your property manager is generous with their time in explaining and clarifying all written communications.
Establishing clear guidelines on maintenance and repairs is also critical. You may not feel the need to approve a cost under $250, but will want to know as soon as costs reach $2000 in any particular financial year.
Your property manager should also be aware of whether you’re negative or positive gearing your property. This will allow them to provide customised reports on how your investment is progressing and give you an indication of when to sell, re-mortgage or even renovate.
Engaging a Property Management Agency
First things first, make sure you like and trust your property manager. This is someone you’ll have to talk to regularly about everything from repairs to increasing the rent. And you’ll want to be sure you can trust them to get you or your accountant the necessary paperwork at tax time. Make sure you check the credentials of the agent you’re considering, that they have the experience and expertise in dealing with investment property. Ask for references and check social media to get an accurate picture of the organisation and who you’re dealing with.
If you need help with your investment property in Adelaide’s Golden Groves, Wynn Vale, Greenwith, Tea Tree Gully, Modbury Heights, Dernancourt, Redwood Park, Fairview Park, Surrey Downs, St Agnes, Ridgehaven, Highbury, Banksia Park, Yatala Vale, Vista, contact us
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