All Topics / Help Needed! / Finding a good Property manager
Hi all,
I'm a newbie in the property investing scene but recently lashed out and bought rental house (Perth- 3km from CBD). Now I'm on the hunt for a good property manager – but not sure what to look for or what questions to ask.
Any tips? Suggestions? Even warnings
Cheers
http://www.propertyupdate.com.au/articles/183/1/11-questions-to-ask-your-property-manager/Page1.html
http://www.housesunderfiftythousand.com/rental-property-management.htmlJust a few I can think of.
Do they ask for references from prospective tenants?
How do they handle tenants who do not pay rent on time and when does eviction occur ?
How do they ensure smoke detectors are working and have fresh batteries ?
(warning – if tenant dies from non functioning smoke detectors then the landlord is liable)
Do they use a tenants database to cross check tenants?
Do they automatically increase the rent at the end of a lease?
(tip check /note renewal date of lease as landlord insurance needs house to be on a lease to cover lost rental payments)
Do they renew the lease at the end of the lease?
How often do they do property inspections?
(tip have landlords insurance to cover public liability, malicious damage, loss of rent, ect )A rather radical approach is to pretend you are a prospective tenant and make enquiries with the property manager as someone looking to rent and seeing how thorough they are at checking you out as a prospective tenant
.
If you are unfortunate to get a bad one you can move the property management to someone else once the lease is expired.(warning – do not enter your property if tenanted without tenants permission) – as tenant has a quiet enjoyment requirement
under law that includes tradespeople doing work on your premises – permission must be sought for entry)
How do they arrange this permission if work needs to be done on your property?Im in Brisbane and use a company called Rental Express http://www.rentalexpress.com.au and have found them great. If you check out there site they offer free information on Property Managment and Property Investing, thats how I found them. I spoke to probably a dozen different property managers before going with Rental Express and had some really bad experiences. Best advice I can give is to go with someone that specialising in property management NOT a Real Estate Agent who is dabbling.
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