You don’t want to waste your time and money on a bad property manager who makes life more challenging for you, which is essentially the opposite of what you’d want from property management in Point Cook.
Red Flag: Disorganised
The essential purpose of a property manager is to remain organized, so if they’re disorganized, it isn’t worth having a property manager at all.
Ideally, your property manager will be so organized that they already have systems in place for things like managing rent payment schedules, onboarding, finding tenants, and tenant screening, not to mention they will keep you in the loop about everything without you asking. Anything less than this and they are not worth it.
Red Flag: They Handle One Market
When you hire a property management company, you will want to know which market they specialize in and who their usual renters are. If a property manager can’t disclose this information, it’s probably because they’re trying to do too much. This will be an issue down the line as the manager will tap into the market they’re used to, not the market you want.
Say, for example, you want to rent out homes in a family-oriented area, but your property manager finds you tenants who are party-loving students. This can be frustrating overall.
Red Flag: High Turnover
Most jobs with high turnovers are enormous red flags that point to an issue with the workplace, and the same goes for high turnover in property managers. When property managers can’t manage happy long-term tenants, you’ll usually find out the hard way: when you have a high turnover in your tenants. This can be irritating, financially non-viable, and lead to bad investments.
Red Flag: Too Busy & Too Hands Off
Property managers should have the right amount of work on their hands, not so much that they can’t make time for you, and not too little that they’re nit-picking your tenants with too many inspections. Similarly, a good property manager is hands-on, so you can be hands-off. After all, they are someone to manage a property, and this takes lots of hands-on work with tenants, tradespeople, and you, the property owner. So look for someone who has enough clients to handle one more feasibly with a personal approach to management.
When you want to avoid these red flags and work with trusted property managers who already operate in the Point Cook area, you’re guaranteed success with Established Property! https://www.estproperty.com.au/
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