When it comes to a property agent, sometimes it is a case of, 'you get what you pay for'.
You engage a property manager to manage the day to day aspects of your investment property; this includes regular inspection to ensure the property is kept in good condition, keeping on top of repairs and ensuring the tenant is paying their rent, but that’s not all.
Your property manager should also be helping you boost the income of your property through rent increase and keeping an eye on the market but also suggesting ways for you to increase the property’s appeal to tenants.
Unfortunately, we hear plenty of horror stories where the owner of the property is constantly following up the property manager and prompting them to do repairs or follow up the rent.
In an article published by Residential Property Manager, “The manager only realised the tenants were in arrears when Ms Rogers brought it to her attention”.
“It took her so long to notice and even then, I was the one who had to actively pursue her to actually do anything about it,” Ms Rogers says.
“Despite her persistence, the situation dragged on without a resolution. After repeated prompting, the manager finally evicted the tenants. However, because the relationship with the tenants had soured, they left the property damaged and dirty. It took her six weeks to get another tenant in the property. During this time, she lost several thousands of dollars of potential rental income. In addition, she had to pay for the house to be cleaned and painted.” You can read the full article here
It is important to remember that an agent may offer you a reduced management fee but sometimes, it really is a case of you get what you pay for. You should be able to leave the property in your agent’s hands and know that you are maximising your rental return and that arrears, if any, are actively being recovered.
If you need advice on how your property is performing speak to our Director Vik on 0411 305 785
His team are experienced, dedicated & most importantly passionate about property management.