Monday, December 13, 2010

5 Steps to Finding the BEST Property Manager. Step 3: Ask all the right questions

Feel free to be nosey, after all these are the people who you are entrusting with one of your biggest assets. Are they landlords themselves? What associations do they belong to? Why are they property managers? What are their policies and procedures? Do they have a code of ethics? What is their philosophy on property investment, is it "just a rental" or is it “an asset”?


If you Property manager is also a Property Investor they probably have a
greater understanding of the ups and downs of having tenants. They will know
that very few property investors are cashed up millionaires jetsetting
around the world following the seasons. They will realise that typically if
the rent goes unpaid, the money has to come from your wallet to pay the
mortgage, and you will notice it. Therefore they will try to limit times
between tenants, they will get maintenance done when it occurs to avoid
costly repair jobs down the track. They will pick tradesmen that are value
for money. And this doesn't mean the cheapest, it means the guys who do the
best quality work but don't charge an arm and a leg. They will chase up rent
arrears and make tenants accountable for their actions.

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