A Word of Warning about Residential Property Investment
The consequences of aligning yourself with a lesser Property Manager could cost you thousands of dollars. Plenty of stress and anxious moments.
So at Impact Property we have produced the Report “23 Questions that you must ask a Property Manager” that you should use before choosing your next Property Manager.
The 23 questions that you should ask are:-
- Is the owner of the Property Management company involved in the day to day operations of the business?
- Is the principal of the property management company available to clients?
- Do you have a strict tenant selection and screening process?
- How can I feel confident the Tenant is looking after my investment?
- Does your company have a communication policy or standard service level agreement?
- Do you have a complaints policy?
- Are you fully insured?
- how often do you disperse rent?
- Do you attend all property inspections or do you simply hand out keys?
- Do you have a “people Development Plan” to ensure the team has the most up to date industry knowledge?
- What is your policy for dealing with tenants who are late with rent?
- Who performs the routine inspections?
- Do you provide photos with your inspection reports?
- Can you pay expenses on our behalf?
- Are the tradespeople you recommend and use licensed and insured?
- Can you manage the maintenance for my property?
- What do you do so that I can maximise the rent?
- Can you introduce me to a finance broker who specialises in investment property?
- Can you introduce me to “pro-property” tax accountants?
- If I want to renovate my property, can you introduce me to experts in this field?
- Can you introduce me to “pro-property” solicitors?
- Can you introduce me to a company that specialises in a preventative maintenance program?
- What are your fees?
Get the book here to learn more about each of these questions, and the answers that you should expect.