1. Know your Target Market
These days a lot of rental agents believe advertising on the internet is enough to get your property rented. This might be the case for most
properties, but not all. Take into consideration your property type and target market. Is it an upmarket home? In this case a web listing
should work wonders as the most likely occupier is going to be a professional person or at least someone who uses the net frequently. Don't
forget to include professional photos! Is it a room in a boarding house? If this is the case you are probably going to have more luck with a
sign at the front of the property and an ad in the agent's window. Once you know your target property you can start to select the most
appropriate agent.
2. Is your Manager an Investor themselves?
We find that property managers who own investment properties themselves are more understanding of the requirements of a property investor
and their need to keep rents up. They are also more stringent when it comes to regular inspections and ensuring minimal damage to your
property.
3. How long have they been a Property Manager?
Don't take this as being a form of discrimination, but a lot of property managers are very young, which in turn usually means they have had
limited experience in management and even less in being a tenant or an owner themselves. This doesn't necessarily make them a poor manager,
but you can see the obvious advantages of having a senior property manager at least overseeing the other staff.
4. Use a Local Agent
A local agent will know the rental market in that location the best. They also have 'walk-ins' (people walking past their office and
walking in to make enquiries) who are looking to rent in that location. Makes sense... if you wanted to live 10km's North of the city you
are hardly going to walk into an agent 5km's South of the city in hope of finding something. It can also become a lot more work for an out
of area agent to manage your property, especially if the rental market is quiet. They may require more visits, which means more time spent
on the road. It is conceivable you may receive poorer service as a result. We should point out that sometimes it is appropriate to use an
out of area agent, for example where you employ a manager who is an expert in executive rentals if this is your angle.
5. Property Manager of the Year
There are all sorts of awards that get handed out to property managers, whether it be from within their own brand, via local business awards or through a recognised organisation such as the REIQ. These managers earn these awards for very good reason... because they are good at their job! So find them and use them. Do a simple Google search and you will quickly find out who they are.
Would you like Investigate Property to source your next investment property? Click here for more information.
2022 Update. We all know about flooding, but did you know that damaging water can get you from both directions? Read this article to see if
you're safe.
Read More
Brisbane is seeing a burst in infrastructure activity not seen for considerable time, and it all culminates in here and now being the time
to invest! Continue reading for a detailed but far from exhaustive list.
Read More
TLPI’s are starting to play a larger role when it comes to buying and developing properties in Brisbane, but you can be excused if you do
not know what one is, or have never looked at one before. However, it is very important you know about TLPI’s.
Read More
Let's face it; agents can get rather creative with their real estate marketing. After all, no matter what the property is, where it is or how bad it is, it is their job to sell it! Let's take a look at what some of their words 'may' actually be saying.
Read More
© 2024 Investigate Property.
