Choosing someone to manage your investment property is a big decision.
After all, we're talking about what has possibly been your biggest financial outlay (apart from your family home).
There are so many options out there - how do you choose?
Do your research
Ask your friends and family for recommendations. Select a few agencies who you have heard great things about to come in and appraise your property. A good Property Manager will tell you the rent you can expect to achieve and also advise as to whether you need to undertake any maintenance or alterations. Often something small (like installing a heatpump) can have a large impact on the amount of rent you can expect to receive.
Get online and see if properties similar to yours are renting for the same amount the agents said it would. Occasionally an agent will inflate the expected rent simply to get you to sign with them. Choosing this agent is a choice many regret as their property sits vacant and the rent is not coming in.
Do a bit of secret shopping. Pick a property that an agency currently has for rent and ring up pretending to be a prospective tenant. This will show you how the agency treats tenants, how quickly and effectively they respond to them, and how promptly they can get them to view a property. Why is this important? The quicker the tenant is able to view the property, the sooner they will put an application in and the sooner the property will be let - meaning limited days vacant, without you receiving rent.
Ok, so you've chosen Peter Lees Real Estate. What next?
Sign the Peter Lees Management Agreement.
If your property is currently vacant we will do the following:
- Take photo's of the property for advertising purposes
- Put up one of our easily recognisable For Rent signs
- Advertise your property on our website as well as realestate.com.au and domain.com.au
- Show your property to prospective tenants
- Process tenant applications, identify suitable tenants and present these to you
- Have the tenant sign the lease and pay 2 weeks rent
- Go to the property and undertake a condition report (including detailed photographs) which is given to the tenant for them to note any discrepancies
- Provide the tenant with keys to the property
- Your tenant moves in and your rent is paid!