Six essential questions to ask your property manager
Property investors spend a large amount of time and effort carefully researching the property markets to find the best investment, and this time and effort should also go into fully researching their professional property manager.
As well as saving investors both time and money, the essential role a property manager plays in preserving, and enhancing a property’s capital value and maximising its income cannot be under estimated.
Property management is much more than just collecting rents and too many landlords choose their property manager on fees alone; you need to have the confidence your investment is in good hands.
Because the relationship with your property manager will be a long and ongoing one, when you’re researching property managers here are some essential questions to ask:
1. Is the agency a dedicated property management company?
Property management is complex, and intensive business, requiring many skills and knowledge of the legalities. You need to be confident that your agency has a dedicated and knowledgeable team of experts managing your property, ensuring your property management needs are a priority and there is continuity should one of the team take time off.
Here at Newcastle Property Management, as the name suggests, we are an agency specialising in property management. We have been members of REI (Real Estate Institute) for over 50 years, giving you confidence we are a professionally run company. Our team attend all the training opportunities to ensure we are fully up to date with all legalities and latest regulation updates.
2. What experience is behind the team, and how long have they been with the agency?
Just because an agency has a ‘brand-name’ behind it, it doesn’t always reflect the experience of real estate management and quality of service.
You need stability in your property manager, someone who will learn about your property, know what to check on when. Furthermore, you want to be able to talk to that person today, and in 6 months’ time!
Our dedicated team is headed up by Kellie Andriessen, the manager/owner of Newcastle Property Management; having started her career in property management in 1989, she has helped thousands of Novocastrians realise their dreams through property.
Our staff each on average has over 20 years’ experience in real estate and property, with the vast majority having investment properties themselves. So they know exactly what it is to be a landlord, and deliver the quality of service they would expect to receive themselves.
We also get to know our properties. We mean really know the properties entrusted to our care. We know the building’s layout, the available utilities, and any quirks the property may have. That way, we know what to look out for, and if we have to call on our team of tradies to fix a problem, we can advise accordingly.
3. What’s the admin and paperwork like?
You need confidence that all your paperwork is in order – and this starts at the very beginning with a written proposal. Good property managers put in the time and effort to ensure you have the paperwork which goes with managing your property.
Our proposal lays out what our services are and what you can expect from us. If you do decide to use our services, our owners’ portal provides you with a convenient and comprehensive way of managing your rental properties online. Log on to view statements, financial reporting, ongoing maintenance, upcoming events, inspection reports and more.
4. How does the agency find and screen tenants?
This is perhaps one of the most important questions to ask. You need your property not just tenanted, but tenanted with people who will pay the rent and care for your property.
Our vacancy rate is always well below the Newcastle average and we achieve this by promoting through our extensive database and using strategic marketing to target the right audience.
By professionally marketing your property online with quality photos, floorplans and a well worded description of your property, we entice people to view it.
5. How are tenants managed?
Tenants do need to be properly managed and monitored; this not only ensures they pay the rent on time, but they are also caring for, and looking after your property.
We believe our proactive and professional approach keeps tenants on track. We regularly physically inspect properties, and behind the scenes, we check on tenants, ensuring they are up to date on payments, and whether any maintenance requests have come in.
Tenants also love our online portal as they can see their statements, create new maintenance requests, see upcoming events, access receipts, rental information and lots more.
Because of our excellent relationship and regular communications with tenants, we rarely have any issues, and these are dealt with rapidly before they escalate into a serious problem. On the rare occasion that they do, our experienced property officers know the complex tenancy laws to ensure you are in line with them and are fully represented.
6. Can you create value for my property?
Every investor wants to add value to their asset.
With our regular inspections, we quickly pick up on any maintenance or repairs, ensure they are completed cost effectively and in a timely manner; in doing so, we are keeping your property in the best condition it can be.
Our rental return is kept in line with the current market, and we quickly find new quality tenants to avoid a vacant property. Furthermore, we can advise on simple and cost-effective upgrades which will add value in the long run.
Our motto is very simple – we treat every property as if it’s one of our own.
With many of our team having investment properties themselves, we always go the extra mile.
We’d love you to get in touch to tell you more, and also tell you how our property management services can make your life easier, and increase your return on investment.
With nearly 50 years of property management experience behind us, we’ve helped thousands of people realise their dreams through property and our aim is to make your life easier. Simply give us a ring on 02 4956 9777, send us an email to mail@newcastlepropertymanagement.com.au or pop into our Cardiff office for a chat.
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