Friend and colleague, Lisa Parker, from Parker Buyer Advocates in Melbourne and Kaz Young from Property Zest discuss how to find and interview a property manager.

You can listen to the full episode here:

Selecting a Property manager to interview
  • Ask for referrals – BA, other investors
  • Google reviews 
  • Look at the website – is it modern, updated, review staff profiles
Interviewing
  • How many rentals does the agency manage
  • how many staff and their experience
  • How many rentals per manager – around 100 – 120 per staff member
  • How involved is the principal in the property management
  • Do you have an assistant or do you handle everything from start to finish
  • How long have you been a property manager?
  • How long have you been working for that office?
Processes:
  • Rental arrears:
    • Process on rental arrears
    • % of current tenants in arrears on rent and invoicing
  • Process around routines, are they done in-house or outsourced
  • Process around maintenance
  • Give them some scenarios – if a tenant is 8 days behind what do you do?  Will you contact me? 
Fees and charges
  • Investment property earning $650pw rent
    • 8% fee – $52 ($7.50)
    • 7% fee – $45.50 ($6.50)
    • 6% fee – $39
Summary
  • Go with your gut – if you don’t have a good feeling on the phone
  • Judge them on their communication and responsiveness during the ‘courtship’ phase

If you are looking for a good property manager in any of these locations, we at Property Zest would love to assist you!  Feel free to call or email us or get in contact via our contact page!