The edge you get with a good property managerThu, 14 Nov 2019
It’s an investors goal to be hands off with their investment-property, but also feel completely in control. At a first read, it seems like a contradiction – this is where a good property manager gives an edge.
At a minimum, a property manager should keep their client updated with an effective communication system, creating an easy flow of information around tenant status, repairs required and rent arrears. When this system works seamlessly, a high level of trust ensues.
A good property manager… or even an exceptional property manager goes past just keeping you updated, they will also:
• Strive to maintain vacancy rates at a low level
• Foster communication with both you and your tenants
• Provide recommendations for maintenance that can pre-empt future expenditure
• Continually look to adjust rent in line with market expectations during renegotiations
• Stay on top of local and broader trends effecting their clients
If you’re putting way too much time into managing your investment, you might review the list above and begin to question whether you have a good property manager ... or just an average one. The difference will have a significant impact on your investment over time.
With good property management comes a proactive approach to ensuring you’re getting the best return on your investment today and in the future.
At Croll we are proud to have managed a broad portfolio over many decades, we pride ourselves on not just being good property managers… but exceptional ones.