As of late we have had many enquiries from Potential Landlords with the first, common question being “What are your management fees and costs?”

While yes, that should be a factor in choosing your property manager, it should NOT dictate your final decision.

“Although this is an important question and needs to be addressed, it should not be the basis upon which a decision is made to appoint an Agent.” – Jayson Ryder

Ask yourself, why are these agents offering me a cheaper fee? As the saying goes, you DO more than often, get what you pay for.

“Paying an Agent less money often will not result in more money in your hand. You get what you pay for. It is far too common that Agents today often cheaper services to entice clients but often at a cost of poor service or worse, incompetency that can cost thousands of dollars.” – Jayson Ryder

So, what should you do to find the best Property Manager for your investment?

We have come up with some great steps in making that important decision.

Office Environment

Do your research, call each agent in town and ask them for an interview. It is important that you actually go into the office, experience the environment in which your property managers will be working in. Do you notice good team work and communication between staff? How do you feel when you walk into the office, are you warmly welcomed and made to feel comfortable and important?

It is pivotal to experience the office environment, because yourself, as well as your tenant (current or prospective) will also be using the office frequently and you need to feel comfortable visiting.

”Having a face to face meeting will help you decide on the right person for the job.” – Jayson Ryder

 

Advertising

I also suggest grabbing a rental list and looking at the agent’s websites, look to see how they will be advertising your home, if it is vacant or should it become vacant. What websites will your home appear on? Advertising is an extremely important part in finding a good tenant for your investment. As they say the more the merrier, the bigger the audience, means the better chances are in finding the best suitable tenant for your property.

Statistics

Ask your interviewed agent how many houses they rent per month and how many houses they sell per month.

How many staff members do they have in the office and what jobs do they do? How will the different jobs play a part in your investment?

How many properties are being managed? (both sales and rentals)

It is great to gather statistics, as they may become important to you when it comes time to choose your agent.

Experience

Experience in any department is generally more attractive than no experience at all, but it certainly doesn’t mean the most experienced agent appointed to manage your property will be the best. Make comparisons with the other factors as well as experience.

Procedures

What procedures are in place? Are there many or none at all? Procedures tend to help any work place run smoothly and promptly. What is the procedure when there is a maintenance issue? Some maintenance procedures may suit you better than others.

Are there any other fees/costs charged?

Make sure you ask this question! There may be ‘hidden costs’ or extra charges for advertising. Some agents have inclusive advertising and others may charge an extra fee.

Last of all – Value for Money

Now it is time to put together all of the answers from your questions, gathered from your interviews. Your thorough research, should bring you to the agent that best suits you and your investment. I can’t stress enough the importance of a good investigation on agents in town, so you as a landlord, know exactly what you are getting for your money.