Hi Everybody,
I am just wondering what key points to look for in a property manager, hidden fee's etc. Being new to investing and getting alot of "advice" from all directions, I just need some unbiased advice from like minds.
Thank youHi,
I am by no means an expert but when we were in the same position the advise we were given was to ask questions like:
– how often do you do inspections? do you take photos? will you give me a report? is this included in the cost or extra?
– how many properties do you manage? who looks after them if/when you are sick/on holiday? (you don't want them to have too many because then yours might slip through the cracks)
– how do you advertise for a tennant? Do you have innovative ways of attracting quality tennants? how do you screen tennants?
– what % of your rent roll is in arrears? what is your policy/procedure for late rent collection?
– what are the fees/charges with your service?
– what is included and what is an 'extra'?Hope this has helped,
YuliaHi J
Yulia is on the right track however bear in mind, the Residential Tenancies Act provides legislative requirements that all agencies are required to follow.
Essentially, all agents provide the same service, some just do it better than others! This usually comes down to training and support systems in place and the individual property managers experience and expertise.
It is important that you dont base your decision on 'cheap fees' though as you usually get what you pay for!
well I just realised how old your post it…!
regards
Verity
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