Signs it’s time to change your property manager
There’s a big difference between an average property management experience and a great one.
With the right property manager looking after your property, you can expect timely communication, proactive maintenance and repairs, and an approach that sees a professional looking after the residence as if it were their own.
But not all property managements run smoothly, so what are the key signs it’s time to change your property manager and bring in a new professional?
Lack of communication
A great property manager is someone who works with both renters and owners, openly communicating about the condition of the property, each party’s rights and responsibilities and any changes to the rental law.
They should also be aware of the owner and renter’s big-picture, and the role the property serves for them.
Ideally, you should be hearing from your property manager regularly with routine inspection reports, proactive discussions about rental agreement renewals and insight into market conditions.
Key to this is good communication. It’s about building relationships with all the parties involved to ensure a seamless property management experience.
If you’re only hearing from your property manager when something goes wrong, or worse yet, you’re hardly hearing from them at all, it could be a sign a new approach is needed.
Frequent rent arrears
A rental property is an investment that is designed to deliver an income, and paying the rent on time is a legal obligation for the renters who reside there.
If your rental property is experiencing frequent rental arrears, it’s a sign the wrong renter is in residence and the property management is not being approached proactively.
That said, rental arrears can and do occasionally occur, but if they do, your property manager should let you know promptly and inform you of the strategies they intend to take to rectify the situation.
Lack of repairs and maintenance
One of a property manager’s key responsibilities is to protect the value of your investment, and this involves identifying and handling any required repairs and maintenance.
This is both a proactive and reactive role, where potential problems are flagged early and dealt with via routine maintenance, while problems that crop up are handled quickly.
Meanwhile, timely repairs and routine maintenance not only protect the value of the physical investment, they also enhance the rental owner’s relationship with the renter by indicating their comfort and needs are valued.
If repairs are taking too long or preventative maintenance isn’t happening, it’s a sign that you might need to change your property manager
Your property sits vacant too long
Regardless of where the rental vacancy rate sites, a well-priced rental property should not be sitting vacant for an extended period.
If it is, it’s a sign it’s not priced correctly, it’s not being marketed well, or it’s not a priority for your property manager.
The rental process should be stress-free
A great property management experience is all about effective communication and building good interpersonal relationships.
As the owner, you should have confidence your property is being managed well, with the right renters in place.
Meanwhile, renters should enjoy a relationship with their property manager that encourages them to meet their obligations, look after the property and identify potential problems.
When these ingredients come together, it makes for a rental experience that’s stress-free and each party is confident in the fact they are valued, appreciated and their needs are being met.
How we can help
Our experienced property managers pride themselves on establishing great relationships with both rental occupiers and owners.
We manage every property as if it were our own and you can learn more about our property management services here.
Alternatively, if you are looking to rent a property, you can view the properties we currently have available here.
