A professional property manager will go above and beyond to help you manage your investment property. There are some signs that you need to watch out for. As a property owner, do you know exactly what you should be expecting from your property manager?

What are property managers responsibilities?

There are 4 key aspects of real estate that a property manager is responsible for:

Rent

It is a property manager's responsibility to handle rent for the landlord. A property manger is expected to be an expert in real estate and should set the rent price and adjust it accordingly throughout the period of their management.

Property Maintenance

The property manager must ensure that the property is in good condition and fit for the tenant to live in. Specific maintenance details will be listed within the tenancy agreement; however, property managers are in most cases responsible for the following aspects:

• Drains and gutters remain clear

• Emergency repairs

• Smoke Alarms

• Building and pest inspections.

Landlords can also expect property managers to monitor the property’s condition. This includes conducting regular property inspections to pick up any necessary maintenance issues or damage to the property.

Tenants

Managing tenants is one of the most important responsibilities of a property manger. They are responsible for finding and managing suitable tenants for the landlord. The property manager is the delegate between tenant and property owner. The property manager must therefore handle events like complaints, evictions, leases, emergencies and bond claims.

Budgets and paperwork

Landlords will usually set a spending budget for the property manager to spend on property maintenance and emergencies. It is the property manager's duty to use this budget considerately and keep a detailed record of all property-related matters.

What makes a bad property manager ?

Quite often, new landlords will not know what level of service they should be expecting from their agency.

Here are some common problems which you should be aware of.

Tasks being missed

If your property manager is not responding to emails, tenant requests or paying bills on time, tenants/tradespeople may start to contact you directly instead of your agent. Tenants that do not pay rent on time can also cause considerate stress.

Bad communication

Each owner likes varying degrees of communication - however, no one likes to be left in the dark. Your property manager should respond to any phone calls, emails, or text messages promptly. If you never hear back, there’s a chance that your property manager is overwhelmed or simply isn’t putting enough effort into your investment property.

Poor maintenance

Your property needs to be looked after, so if it is becoming run-down, your property manager may not be performing their routine inspections or booking necessary maintenance/repairs as often as promised. Poor maintenance can lead to devaluation of a property and could lead to the risk of an injured tenant.

Appliances such as gas heaters and smoke alarms should be repaired quickly and serviced regularly.

Legal

It is the property manager’s duty to make sure that you are compliant. It is up to them to be the ‘real estate expert’ and make you aware of issues and potential problems. There are thousands of rules and regulations that your property manager should be across on your behalf.

What if my property manager is ticking too many of these boxes?

If your property manager isn’t doing their job properly, we can help.

At First NationalProperty Solutions each owner’s property is placed in a portfolio with a Senior Property Manager. This means you always know who you are dealing with and don’t have to speak with 3 or 4 different people in relation to different aspects of the management of your property.

We encourage you to call your property manager at any time. Our office policy is to maintain open communication with our landlords at all times. Each staff member has their own direct telephone number so that they can be easily reached.

We offer our Landlords a written guarantee.

Should our staff not perform within the guidelines of our Guarantee, we will refund the last three (3) months of the management and collection fees from the time that the Principal is notified.

Imagine how much more time you’ll have on your hands each day with First National Palm Beach managing all this for you? So what are you waiting for? Our award-winning team is waiting to welcome you to the family.

Get your free rent appraisal from First National Real Estate Property Solutions here: https://www.palmbeachfn.com.au/property-management/property-appraisal
 

by Dot Hamilton

Director of Property Management | 0412 455 808