3 Moments of Truth for a Property Manager
What makes the difference between a good Property Manager and a great one? The following 3 factors play a large part in how well your property is managed and, ultimately, your return on investment.
A great Property Manager knows the value of providing timely and accurate statements to their landlords. These statements act to provide both important information and accountability. It shows the Property Manager is taking the management as a serious monetary investment on behalf of the landlord.
Change of tenants
How a Property Manager deals with the change of tenants in a property is equally important. Their commitment to filling a vacancy to reduce loss of rental income is an indication of their experience and how hard they are willing to work for you.
Maintenance and Mid-term Inspections
A great Property Manager deals with maintenance requests and mid-term inspections on time and with professionalism. They will advocate for the landlord when necessary and provide all required information to ensure the landlord can make informed decisions on any maintenance issues that arise.
How to Change a Property Manager
Are you unhappy with your current Property Manager? Do you feel like you're not getting the results you were promised? Here are some things you may not know about how you have the control when it comes to managing your investment property.
You don't need to wait until there is a change in tenancy. As long as written notice is given to your current Property Manager within the period stipulated on the signed agreement, you are able to change to one that is going to work harder to deliver the best service. It's important for a Property Manager to have a good relationship with the tenants in your property so if this is an issue, addressing it by changing Managers will go a long way to keeping your tenants happy.
The thought of having to deal with more paperwork is enough to put landlords off making the switch to a new Property Manager. The right Property Manager will ensure there is little disruption to your tenants and ensure a smooth transition and take care of paperwork for you.
10 Key Property Features that Determine Rental Price
When deciding on the purchase of an investment property, it is essential to consider how attractive a property will be to potential tenants. Here we talk about the top 10 features that tenants look for in a rental property and how these can affect your rental income.
Keeping these 10 features in mind when you are searching for the right investment property will help you focus on the return from your investment and go towards keeping long term tenants happy in your property.