Choosing a Property Manager for your Investment Property!

A residential property is one of the most valuable assets you will attain in your life. Most people will purchase a property to satisfy the Great Australian Dream of owning and living in their very own home.

However, a lot more Australians are now purchasing multiple properties, as real estate is one of the safest ways to invest your money and receive a return on that investment.

Once you have secured your investment property, and completed any maintenance or renovations that you feel may be necessary, the next step will be to find tenants. This is where a Property Manager will become a part of your search for those tenants.

Here are some general things you should look for when choosing your property manager:

  1. Look for an agency that specialises in property management. It would also be preferable for the director/owner of the business to be involved in the day to day procedures of the property management department.
  2. Do some research on local property managers to find out how much experience they have in the industry. Their knowledge can be a huge asset to you while managing your property. Also, going with an agent who has chosen property management as a career, rather than someone who has just fallen into the role, can benefit you, as they’re most likely to be more passionate about their job.
  3. Some busy agencies have 200 properties per property manager and this can often be too many to give your property individual attention. At some boutique agencies, each property manager looks after about 100-150 properties. While these agencies may charge a little more, landlords often find the added expense translates to a trouble-free investment, which can produce a higher return.

 

If you have recently purchased an investment property or are just looking for a new agent to manage your existing property, contact Lismore Property Managers on (02) 6624 7700 or visit their website at www.lismorepropertymanagers.com.au to see how they can help you today.

Posted in: Property investment

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