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​​Latest news: ​​Finding the right property manager can be a daunting task – 14 essential questions to ask

One of the most important things you can do for your portfolio is to appoint the best property manager to look after it. Yet, many people see property management as an extra cost off the bottom line and struggle to understand what value is delivered.

Solid business processes in place are essential to avoid poor quality management in an unregulated industry. However, to tell apart the good managers to the excellent value managers, you need to dig further to assess the extra value delivered beyond “getting the job done”.

Here is a list of questions for your interviews to get you started. Catalise Ltd is happy to answer all of these and more, anytime. Contact them below.

 Avoid poor quality property management:
- Can I get a copy of your management agreement so I can understand what does your management fee include?  
- What systems do you have in place to support your service delivery?
- How often do you inspect the property, and can I see an example inspection report?
- Can I see an example financial statement? Do you operate a separate bank account for your clients’ money?
- What are your qualifications and experience?
- How often would you communicate with me? 
- How often will I be paid?
- How often have you attended the Tenancy Tribunal and what has your success rate been? 
- How do you respond to repair and emergency maintenance calls?  

Differentiate the excellent from the good managers:
-What is your property management speciality? Is property management the primary focus of your business?
- What are your suggestions to help me increase my rental return and optimize my property’s condition? Will you review and advise me of the need for maintenance regularly?
- What is your customer churn rates? 
- Who will look after my property? If it is not you, can I meet with the person before I sign?  
- How often do you review rents and what marketing strategy do you suggest? 

catalise property Buzz - SUMMER 2020                                         by Sandie Casano