Questions to ask your Property Manager

If you are a smart investor in the process of searching for a new property manager for your hard earned investment property, you have certainly come across some websites suggesting that you ask some questions to your prospective management companies before you sign up. We have saved you the trouble and answered the most common questions here. You can always contact us if you have more questions. We are happy to help.

What qualifications do your property managers have?

Our managers have formal qualifications in Property Management, but more than that, our managers have more than 25 years’ experience in the area of Property Management alone. There are some nuances to this job that only experience can bring. As any other profession with constant contact with the public, we say that we manage people as much as we manage properties. And with so many years of experience, we have seen it all – the good, the bad and the ugly.

On average how many properties does a manager oversee and is there a maximum?

Because we are a specialist property management business, the normal “standard” of 110-150 properties per manager is difficult to apply to us. We have specialist roles for each important part our operations. For example: we have exclusive roles for Leasing and Accounts. The Leasing Manager will manage  properties that need to be leased, while our Accounts specialist can handle, among other things, insurance claims. This leaves our Property Managers free to concentrate on what they do best – build relationships with tenants, manage rent payments and maintenance issues and most of all take care of any queries you may have. We also have state of the art software systems that greatly improve the handling of information throughout the office, so everyone knows what is happening to each property at any one time.

Who does the initial and routine inspection of the property?

The initial in-going inspection is done by the leasing manager. Routine inspections are conducted by each Property Manager every 17 weeks.

What is the service level commitment on getting back to us? e.g. - need to get copy of receipts, rental repairs and if we call what's the turnaround of this?

You are able to speak to your Property Manager at any time. They will let you know immediately what the time-frame is likely to be for various issues ,and as all problems are different they will walk you through each step until your queries and probl. Usually, we respond to emails and calls immediately to let you know who/when/what will be done and when you will hear from us again. We are implementing a new portal to owners in 2013 where you will have your own username/password to access all details of your property such as current and past accounts, statements, receipts, inspection reports and photos. We are working on it as we speak and we anticipate it going live early 2013.

How frequently can you disperse rent to us?

All rent is paid mid and end of each month assisting you your cashflow. If however you would require a special payment from time to time we can provide available funds to you within 24 hours.

What's your recommendation on rental increases?

We review your rental income every time that a lease is up to renewal, when a lease is terminated and needs to be re leased. We also constantly keep an eye for market movements to ensure you are getting the best possible return.

Do you have a standard for pricing  repairs and maintenance? Will we be contacted when money is to be spent?

As all repairs and maintenance issues are specific, we do not have a standard pricing for them. We use professional tradespeople that have been working for us for a long time. They are reliable and professional. We keep up to date records of their licences and insurance policies. When maintenance is needed, we will contact you first to know how you would like to proceed. You can elect to get your own quotes or you can let us take care of the issue for you. We have an after-hours number for emergencies only and tenants are advised that if the “emergency” call is not considered an emergency by our trades people, they will be responsible for paying for the call.

What is your tenant selections process?

With the information provided in the application form, we confirm their payment and tenancy history by calling their current and/or previous landlord/agent as well as confirming their employment, checking them against a National Tenancy Internet Database to see if they have been lodged as a bad tenant by a previous agent. We also check employment history and ask them for references . If we think they qualify as a good tenant, we will present them to you. You will then have the final word. If you do not think they will suit your property, we keep looking until we find the right tenant for you.
 

How frequently and on what days do you set up for tenants to view property?

Our Leasing Manager will open the property as many times as necessary. On average, we do not need to do more than one or two opens. We also do opens after hours and we do opens by appointment when interested tenants ring us to enquiry about a property.

Would you recommend a 6 or 12 month lease and for what reason?

This is completely up to you to decide, as each property and owner circumstances are different, but we recommend 12 month leases. We tend to get more stable tenants while minimising vacancy periods and leasing fees.

If you have more questions or would like to contact us for a rental appraisal, please click here.