6 important questions to ask your property manager

Font size :
  1. Do you have a qualification in property management?

“This is an important question because, in SA at least, there are no legal requirements for property managers to have any qualifications,” says Xenia Ioannou, principal of ALEXA Real Estate, a boutique agency in Norwood, SA.

  1. Is the principal of the real estate agency personally involved in the property management division?

Many principals are too busy being real estate sales people to even be principals, let alone oversee what is going on in the “less profitable” property management division, Ioannou warns. “When this happens and the management is left up to an inexperienced or unqualified property manager, the effectiveness of management can be compromised.”

  1. How many years experience do you have?

It is important to establish how long they have been at the current agency. “Property manager burnout is a big issue in this industry, and agencies that offer great salary incentives and good office support for the property manager tend to get better service and happier staff,” she says.

  1. How many properties does each property manager manage?

Some property managers can handle 150 properties, because the agency principal is personally involved and there is adequate office support and systems. In contrast, there are property managers barely capable of managing a rent roll of 60 properties, because the agency principal offers no support, there are no office systems in place and staff are not rewarded adequately.

  1. How will you screen potential tenants?

“There are a number of steps an agency can take to ensure that your asset is protected, including an effective screening procedure for tenants,” Ioannou advises. Ask: how detailed is the agency’s tenant application form? Do they cross check landlines, rather than just ringing mobile phones?

  1. How are tenants treated?

It is important to choose an agency that is fair on both sides, Ioannou says. Unfairly treated tenants leave causing you money through vacancies. Ioannou suggests you find out how quickly maintenance issues are dealt with, as this is a common complaint from tenants. “Is the agency flexible enough to show tenants through their listed rentals after hours and on weekends?” she adds. “This is a good sign for tenants, but also for you as an investor, because you want to ensure that employed tenants are given priority.”

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

Mortgage News and Articles

How to tell when a housing market is cooling How to tell when a housing market is cooling

You need to check clearance rates, listings, and the price gap, among other factors Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Sunday, Sep 24, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords