Six key traits of a great property manager
Entrusting someone with your rental property involves a major leap of faith. After all, this is a highly valuable asset that is designed to provide a return on investment and also provide capital gain.
When it comes to who to give this responsibility to, we’d argue there are six key traits to a great property manager and each helps ensure you are getting maximum return on your investment and owning that rental is stress-free.
The property market changes and within the rental market there can be fluctuations in supply and demand.
A great property manager knows their local rental market intimately, including how many properties in an area are currently available, the rental price they command and how that compares to the rental property you own.
They will also have a comprehensive understanding of rental laws, including both rental owner and occupier rights and obligations.
Good communication is a key skill required from any property manager. This person should have the ability and drive to communicate with people from all walks of life and do so in a timely manner on a regular basis.
They should be professional to deal with, willing to offer insight and advice, and most importantly seek to understand your aims as the property owner.
This should then translate into timely communication that occurs not just when something goes wrong, but also helps educate you and the rental occupier about everything related to that house.
In real estate, the property manager is often considered the middle-man.
They are tasked with negotiating great outcomes for both the property owner and the rental occupier, while ensuring the property remains well maintained, all maintenance is tended to and the home retains its value.
The best property managers are meticulous in their attention to detail.
They ensure nothing is missed when it comes to inspections, the law, rental agreement conditions and any issue or item that impacts the property, its value and its ability to appeal to a wide range of rental occupiers.
This meticulous nature extends to the way they check the rental references of prospective renters, the maintenance issues they identify and the research they conduct when pricing your rental property properly.
Property management is a job for the highly organised. There are repairs and maintenance to organise, owners to speak with, renters to assist and agreements to be signed.
The best property managers not only pride themselves on their personal organisation, they have systems and procedures to ensure nothing slips through the cracks.
Finally, a key trait to look for in a great property manager is consistency.
You want to know they are consistently looking after your investment, will consistently update you about any changes, and will consistently follow-up to ensure any work gets done or any problem is resolved.
This consistency creates trust and the knowledge your major investment is in safe hands.
How we can help
Our experienced property managers pride themselves on establishing great relationships with both rental occupiers and owners.
We manage every property as if it were our own and you can learn more about our property management services here.
Alternatively, if you are looking to rent a property, you can view the properties we currently have available here.