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What Does A Great Property Manager Do?

//What Does A Great Property Manager Do?

What Does A Great Property Manager Do?

At Marker Realty we are passionate about providing our landlords peace of mind and our tenants the best possible rental experience.

It’s a passion we are able to deliver on because of our laser-like focus on property management.

Unfortunately, the reality is that for many landlords and many tenants, the feeling of working with a dedicated property manager is one they may have never experienced before.

For many landlords, reaching out to talk to their managing agent can be a nerve-racking experience.

Will they answer the phone?

If they do, will my manager still be the same as the last time I called?

Will they respond to my email?

Has the rent been paid?

Are rental arrears being chased up?

This leads to a frustrating and disjointed experience.

This can largely be because of the high turnover of property managers within this industry and the fact that – for many businesses and real estate professionals alike – property management is not a core focus.

Often, property management is treated as a part of the business or a stepping stone in an individual career that is more heavily focused on sales.

At Marker Realty, our sole focus is on providing exceptional property management.

So, what does that mean for you?

In this week’s blog, we highlight some of the advantages of working with a dedicated property manager by asking, what does a great property manager do?

Proactive Communication

Perhaps the first sign of a great property management services is that your dedicated property manager reaches out to you with important milestones and updates.

Whether it’s to inform you of how the latest inspection went, reporting any maintenance items, keeping you in the loop with respect to how chasing up any rental arrears is going, your property manager should be keeping you informed, rather than you needing to chase up every single update.

Another great example of proactive communication from a property manager is how they communicate with you at tax time.

Do they get in touch to discuss a depreciation schedule? Do they have all the rental receipts on file?

Rental Appraisal

Another great sign of top-notch property manager is that they are regularly checking the rental market to ensure that your property is generating the right amount of rental returns.

You should not have to prompt your manager to check this, nor should you need to be constantly checking realestate.com.au for the latest rates in your property’s area.

A dedicated property manager keeps this at the top of mind, particularly at key times such as rental renewals of when it comes time to find a new tenant.

Ethical Management

Some property managers might be willing to turn a blind eye to aspects of your property just to get the next renter through the door.

However, whilst this might sound good, the long-term consequences of such practices can be disastrous and cost you an absolute fortune.

A great property manager will report any major issues with the property with urgency and seek the best possible resolution.

Yes, this might mean needing to fork out on extra repairs or maintenance works and it might mean needing to get those smoke alarms checked a bit more regularly, however, this is a small expense compared to the potential damages and guilt that might follow if something bad was to happen as a result of ignoring the problem.

Being a property owner and a landlord is a great privilege and a great way to get ahead financially, however, it does come with serious responsibilities. A great property manager will ensure you check off every legal box as a landlord.

Creative Rental Solutions

A seasoned property manager is going to come to you with creative rental solutions that could see you create much more revenue from your investment.

This could mean reconfiguring your investment property to act as a registeredrooming house – if it is reasonable and permitted by council – so that your property can attract more tenants and more revenue.

It could mean repurposing that study so that your property can be marketed as a four-bedroom home instead of three, therefore making your property more attractive to a potentially higher-paying tenant.

Marker Realty makes it happen

North, South, East or West.

You think property, you think Marker Realty.

Why?

Because we deliver on every aspect discussed in this article. If you were reading this article and thinking about any of the below questions:

  • When was the last time I heard from my managing agent?
  • When was the last time my property’s rent was updated?
  • Could my property be marketed differently to attract greater rental returns?
  • Am I aware of what’s happening at my property?

Then you need to have a chat with our team today.

By |2021-10-18T04:14:48+00:00October 18th, 2021|News|0 Comments

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