WHAT MAKES A GREAT PROPERTY MANAGEMENT AGENCY
In the days when property management services were in their infancy it was common for the work to be handled by real estate sales teams with agents often juggling both roles. There wasn’t a clear focus on property management being a specialised service in its own right, and that was often reflected in the service received by property owners and tenants alike.
The world of real estate and property management in particular has evolved and changed considerably for the better over the years. In todays blog McAdam & Turnbull Realty business manager Bronwyn Evans looks at what makes a great property manager and more…..
At its heart, good Property Management is about the working partnership between Owners, Managing Agents, and Tenants. Whether you’re a new or experienced investor, finding the right tenant is only a small part of the process. Meeting the needs of all parties (equally) is the key to delivering great property management services, and the agency who delivers on that promise will be rewarded with the support and loyalty of their clients.
Property owners need a agency with property managers who understand the challenges of owning property and the requirement to juggle mortgage payments, rates, insurance, emergency repairs, maintenance costs, and the market conditions that impact on rental prices and vacancy rates.
From the tenants perspective they need property manager who understands the importance of a well maintained home, in addition to being respected as the lawful occupiers of the property.
Good property management agencies operate with a ‘hands on approach’ designed to maintain open communication channels with owners and tenants, so that challenges are resolved professionally and respectfully.
Bronwyn believes good engagement and reliable communication by a mature and experienced property manager is at the heart of a successful working relationship. Highly successful property management services usually exist in supportive team environments with hands on business owners actively supporting their team.
At a minimum, property owners should expect the following services from a professional management service:
- Marekting of the property across multiple media to secure a quality tenant
- Establishing the tenancy – lease, bond, entry report etc.
- Rent collection and distribution
- Undertaking regular property inspections to ensure the property is being looked after
- Coordinating maintenance
- Dispute resolution including representation at QCAT if required
- End of lease processes including terminations.
- Maintaining compliance with the law in an every changing environment.
The process of buying and owning an investment property can be complex and every person’s situation is different. The team at McAdam & Turnbull Realty are focused on tailoring both real estate and property management solutions to meet your needs and keep the experience as stress free as possible.
McAdam & Turbull Realty have developed a Property Management Made Easy information pack that’s full of great information for the new or experienced property investor. Contact Bronwyn at McAdam & Turnbull for your copy.
McAdam & Turnbull Realty are your local real estate professionals and property management specialists in Toowoomba and nearby surrounds. You can follow our Principal and agent Lachlan Evans at www.linkedin.com/in/lachlan-evans-621bb583 or view our current rental and sale listings at http://www.mcadamturnbull.com.au and LIKE us on Facebook @
This publication covers real estate, property market, finance and legal related issues in a general way. It is intended for general information purposes only and should not be regarded as professional finance or legal advice. McAdam & Turnbull Realty recommends that professional legal and/or finance advice should be obtained before taking any action on the basis of the general information presented in this publication.
Written and Published by www.presentprofessionally.com.au