When it comes to selecting property management services, you should do your homework and ask a lot of questions. You’ll want to know that your asset is being well-cared for and that the necessary expertise and resources are on hand to protect your best interests at all times.
However, gaining peace of mind need not be an arduous process. To make it easier for you, we’ve compiled a list of the top 10 questions to ask your property manager.
You can use these whether you’re new to becoming a landlord or are looking to switch to another management company(which should be a whole lot easier than you might think).
This question allows you to learn about what everyone does at the agency to which you are considering delegating your property management duties. This can give you a picture of how well processes and operations work within the organisation.
From this vantage point, you should be able to get a sense of how well-equipped the company is to meet your most vital requirements. At the very least, you want an agency with a dedicated property management department staffed by a team of specialists in their allocated field.
At Ray White West End, each of our landlords is assigned a business manager. This is a professional who is solely focused on your property and your specific requests. It’s an aspect that can truly set an agency apart, so it’s always a good idea to get a firm answer in relation to this — right off the bat.
All property managers are not the same. You might come across those that use a pod-based system, those that implement a task-based system, or those that provide full-service property management. Make sure to ask the agent you’re contacting, “what’s your approach?”
We can only speak for ourselves at Ray White West End. Ours is a comprehensive end-to-end service that goes beyond the traditional scope of simply finding tenants, collecting rent, and organising property maintenance. Just one area in which we go above and beyond is in facilitating wealth creation.
We are committed to generating the highest rent returns (36% higher than the industry standard), with the fewest vacancies (4 days on the market, compared to the industry average of 9 days). Obtaining statistics like these can provide you with the confidence to go ahead and secure the right group of professionals to protect your real estate investment.
It’s understandable that homeowners might call around to find the most affordable real estate agency on the market. However, more and more people are discovering that the cheapest agency may actually be the most expensive (when it really comes down to it).
This is because fee structures involve more than just surface-level details. Speak with the agency you are considering about the specific inclusions that come with different types of fee structures, plans, packages, and so forth. Make certain to enquire about “what is included in property management services?”
At Ray White West End, offer highly competitive management fees and our maintenance and periodic fees are complementary. Plus, we believe our clients deserve complete transparency, every step of the way. Feel free to contact us to find out more.
This is a topical question that allows you to assess an agency’s readiness to deal with unforeseen events. The response you receive may be directly related to the company’s status.
When you engage the services of our team at Ray White West End, you gain access to the Ray White Group’s influential global network. This provides us with more resources and support to deal with any potential adversity or widespread challenge.
With this question, you can broach the subject of what happens when tenants fall behind on their rent. Obviously, this is a very important matter. Rental arrears can have a devastating snowball effect, harming your investment and causing you undue stress. Identifying who is responsible for managing this aspect is critical for your peace of mind.
When you engage the services of our team at Ray White West End, you can count on our zero-tolerance policy for rent arrears. This is just one of the safeguards we put in place to maximise the return on your investment and your personal level of assurance that we are fulfilling our duty of care to you.
It’s wise to gauge an agency’s specific level of commitment to you. When it comes to looking after assets and protecting investments, cumulative years of experience make for a very substantial difference. So too does an ability to allocate adequate time and resources on an individual client basis.
Our approach at Ray White West End is anything but amateur and our property managers do not take a cookie-cutter approach. From securing a tenant to marketing, we ensure that each client receives a tailored proposal and service. Of course, this includes ongoing access to our senior management.
This is a very useful query for determining an agency’s ability to quickly expand to meet your needs. When it comes to managing your portfolio, nothing beats experience, and we are fully prepared to deliver at Ray White West End.
Our West End team manages 1,000 properties from Redcliffe to Runcorn, Moggill to Manly. We successfully manage all types of residential properties, including flats, units, houses, and executive homes.
Our weekly rents range from $180 to over $1,500. This is significantly higher than the industry average, which will have a significant impact on the financial health of your portfolio as it matures.
How far an agency will go to maintain a professional connection, as well as demonstrate its authenticity in following through? That’s the real question at hand here. Ray White West End ensures appropriate team members are contactable via mobile device, for your ultimate convenience and comfort.
Businesses are known to experience difficulties when owners and directors take a back seat. If an agency is struggling, this can spill over to clients and impact everyone involved. Make sure to avoid this by engaging an agency led by a passionate and involved real estate professional(s).
Luke O’Kelly is the Principal of Ray White West End. He has a well-deserved reputation for being approachable and thoroughly hands-on. Luke’s vendors frequently compliment him on his market knowledge and ability to provide a smooth sales experience. It’s a clear distinction we know you’ll appreciate.
Don’t be afraid to ask the hard questions. You want to know that your agency will always take the initiative to protect your investment. Because we are part of Australasia’s largest real estate brand, at Ray White West End we have a wider reach of prospective tenants and a greater ability to find the best tenant in the shortest amount of time.
Therefore in the case of a break lease, your investment is likely to recover much faster than you might have expected. Plus, because of our lower vacancy rates, your rental return is higher and more sustainable over the long run. Our intent is to always get the best results for our clients.
f you have found the above information useful, you may like to access other resources in our educational series. For more detailed information from experts in property management, do not hesitate to call the friendly team at Ray White West End on (07) 3844 4244. We’ll gladly answer all the above questions and many more!