- Research the company: Look for reviews and ratings of the company online, and ask for references from previous clients. You can also look for any complaints or legal action against the company.
- Check their experience: Consider the company’s experience in managing properties similar to yours, and look for evidence of their knowledge of the local real estate market.
- Look for professional qualifications: Look for companies that are members of professional associations, such as the Real Estate Institute of Australia, as this indicates that the company adheres to industry standards and best practices.
- Communication and reporting: Look for a company that has a clear and efficient communication process and provides regular and detailed reporting on the progress of the work.
- Services offered: Make sure the company offers the services you need, such as tenant screening, rent collection, maintenance coordination, and legal compliance.
- Fee structure: Compare the fee structure of different companies to ensure that you’re getting the best value for your money.
- Availability: Make sure the company is available to handle any issues that may arise, and can respond quickly to your needs.
- Check their online presence: Look for companies that have an online presence and use it effectively to advertise and find tenants for your property.
By considering these factors, you can select a property management company that is well-suited to your property and can meet your specific needs. It’s important to have a clear understanding of these facets before you make a decision.
Is there much difference between property management companies in Australia?
There can be some differences between property management companies in Australia, as each company may have their own unique approach and level of service they offer. However, there are some similarities in terms of the basic services they provide, such as marketing and leasing properties, collecting rent, handling maintenance and repairs, and dealing with tenant issues.
Some property management companies may have more experience and expertise in managing specific types of properties, such as high-end luxury homes or large commercial buildings. Other companies may have a particular focus on certain geographic areas or demographic groups, such as student housing or affordable housing.
In terms of fee structures, some companies may charge a flat management fee, while others may charge a percentage of the rent collected. Some companies may also charge additional fees for services such as tenant screening or lease renewals.
The technology and tools that companies use also can vary from company to company, some may have more advanced systems that allows landlords to have more control and access to the information they need.
Overall, while there may be some differences between property management companies in Australia, the core services they offer are generally similar. It’s important to do your research and choose a company that is reputable, experienced, and can meet your specific needs.
What should I ask a property management company before employing their services?
If you are looking to hire a property management company we recommend asking a few questions to try to understand their ability to deliver. These could include;
- Can I speak to one of your existing landlords?
- How much experience do you have?
- Are you focused more on some areas than others?
- How do you manage issues with the property?
- What happens if there is a leak at my property?
- Do you offer insurance?
- What is the average life span of your landlords?
By asking some of these basic questions, you will get a good idea as to quality and sophistication of the operation.
