As the premier property managers, we understand how important finding the right fit can be when it comes to making your investment property work harder for you.
In fact, finding the right property manager to handle the day-to-day running of your property can mean the difference between creating stress-free wealth and becoming a time and energy-sapping worry.
For instance, how much time do you currently invest in being a landlord? If you're always feeling stressed out about collecting rent, chasing late payments, responding to complaints and maintenance requests, it's probably time to consider bringing an expert property manager on board (or – if you've already got one – finding a new one!) to help streamline these ongoing responsibilities. Your health and loved ones will thank you for it!
But how do you choose the right property manager for your needs? To give you a place to start, we thought we’d put together what we think are the most vital attributes for a successful (and helpful) property manager.
Here are the 5 things all great property managers should have in common:
- They listen. A great property manager pays attention to what you're saying. He/she will understand your investment goals and genuinely care about helping you achieve them. They're available when you need them and there when they say they will be. And they'll also maintain regular communication with you about your property, providing timely reports and advice on how to maximise your investment.
- They have a great attitude. Your property manager should be passionate about property. But they also need to be able to keep their cool when faced with frustrating or unexpected challenges. Property managers often deal with spot fires – problems can arise without warning. Maintaining the right attitude means being able to approach every situation with a clear head and resolving situations quickly and effectively.
- They’re people persons. Property management is a customer service role on steroids. Your property manager must be able to relate equally well to tenants, owners and suppliers, day in, day out. You don’t want someone who rubs people up the wrong way – the business of property management is challenging enough. He/she should be personable, likeable and able to relate to people from all walks of life. They’ll respond calmly to stressful situations and understand when it’s time to get tough without losing their cool.
- They’re focussed on growth. Many homeowners worry that hiring a property manager will decrease their ROI. When you hire a great one, the opposite is true. A property manager shouldn’t simply take care of the day-to-day stuff. He/she should care about nurturing their relationship with you and proactively going above and beyond to ensure your asset grows year-on-year.
- They make juggling a multi-property portfolio look easy. Running multiple investment properties can be complicated and time-consuming. The best property managers have the experience to take charge of an extensive portfolio, making it more efficient and productive in the long run. Once your portfolio gets to this stage, it’s crucial you find expert help to grow your asset – choosing the right property manager is the first step in the process.
Remember, a specialist property manager can be the difference between a slow rolling investment and one that catapults your nest egg to more significant growth. Choose wisely, and you're one step closer to creating future wealth and financial security for your family.