Choosing A Property Manager For Your Investment Property
Choosing to rent out your new build as an investment property can be the perfect way to increase household cashflow and secure your financial future – if you’ve made an intelligent choice in your property manager! In today’s blog, we provide four tips to choosing a property manager who will care for your build as if it was their own. Read on!
Great Local Experience
When it comes to choosing a property manager, local knowledge is imperative. An experienced property manager will understand the local demographics, they know the standard of rental properties that are being sought in the local market and what the demand is like. Most agents will have a marketing department and know what works when it comes to attract premium tenants. They will also have an established network of trusted tradespeople on call. Securing a local property manager is a great advantage – ask for referrals and do a google search for which real estate agencies have office locations in your postcode.
Getting updates and information about your investment property should happen regularly. Great property managers use the latest technology for all facets of property management including tenancy applications, routine property inspections, entry and exit reporting, key management, monthly income statements and maintenance management. Reliable, seamlessly, user-friendly communication systems are a must.
Raving Reviews and Testimonials
Do your research! Testimonials and reviews are a great source and can be found 24/7 on the world wide web. Websites such as RateMyAgent are great. Simply head to the leasing section of the site and begin your search. If you have friends or family in the suburb your investment property sits in, ask them for their recommendations as well. Also check out a few different agents website, their recent social media posts and their advertising campaigns for similar rental properties to gain an understanding of how they work, and what they might be able to do for your property.
Consider The Fee Structure
While pricing isn’t the most important part of your property management choice – it’s certainly something to consider. it is worth getting 3 rental appraisals done by 3 different agents so you get a feel for what each of them offers and what you can expect to earn from the rent once all of the costs come out.
The Aston Homes team are happy to assist with information regarding your next investment. If you’re considering one of our floorplans for your new build, feel free to reach out with any questions you might have. Contact us here!
The suggestions and advice provided is general only and may not be suitable for your individual needs. Before making any decisions, you should seek expert advice.