When interviewing property managers to take care of your investment property, there are certain questions you need to have answered to make a sound decision. It’s important that you focus your decision more on who the property manager is, rather than how much they are charging you.
Whilst property managers have already built a certain reputation about the service they provide and how woeful it can be, you can’t generalise when making this decision. By interviewing multiple agents, you’ll find one that has your interest before all else.
Things you need to know about your property manager would be, how long have you been in the industry for? How many properties do they have on their books and currently managing themseleves? How do they resolve conflict? What do they do when a tenant falls into arrears? When do they organise the condition report? How do they screen prospective tenants? And of course, How much do they cost?
These are some of the main questions that may help keep a conversation going while you scope out whether they are the right fit for you. Understanding that you probably need an agent sooner rather than later, try not to make a hasty decision on who protects your interest and your asset.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.