Property Management - How to Know When You Need a New Property Manager

If you are not getting the best service from your current property manager, finding a new one is important. But how do you know when you should start looking for a new property manager? 

• Not providing you with the basics

If you property manager is not able to fulfil key responsibilities consistantly, you may want to consider changing. Your property manager is responsible for routine inspections, rent and bond collection and rent reviews and and adjustments as some (but not all) of their key duties. Poor quality tenants and and tenant complaints that go unaddressed could be key signs that your property manager is not doing these duties. 

• Limited services

Your current property manager may only be offering you with liited services which could mean missed opportunities like quality tenants and a higher rent. Quality property managers will look after everything for you and ensure you are getting the most out of yoru property. 

•  Compliance 

Your property manager has a duty to act ethically and in your best interest. If your property manager has breached the terms of your contract in some way, it is a sign that you should move on and find a property manager that will have your best interest at heart. 

• Maintenance outcomes

This is one of the top reasons to switch if you have poor maintenance outcomes as this can compromise the value of your investment property, ability to attract tenants and a high rental price. Maintenance emergencies can cost you if they are not attended to in a timely matter and can also impact tenant safety and your duties as a landlord. 

• Late payments

If your tenants are always paying late, your property manager might be failing to enforce payment terms and conditions, and this can have negative impacts on your cash flow.

• Lack of expertise

Your property manager might lack basic expertise in things like screening tenants and tenancies laws. If they don’t keep up with the latest regulations and fail to find quality tenants, this puts you at risk of poor compliance and lost income.

• High vacancy and low rent

If you’re experiencing high vacancy rates or your rental income seems lower than it should be, your property manager could be underperforming and it might be time to change.

 

The property management team at Harbour Quays are passionate about ensuring you receive the very best in skills and service. Our team takes the time to understand the needs of each property owner and work endlessly to ensure those needs are met.

✔ We ensure our management practices fully comply with all legislative requirements and are in a position to offer you and your tenants a more responsive management service resulting in satisfaction all around.

✔ We are continuously monitoring market trends to ensure that your property is achieving competitive rental returns.

✔ We work on-site within the buildings so we have a comprehensive understanding of the current market and would work closely with your tenants to ensure your property is being well looked after.

✔ We have a very high standard for the properties that we look after and a strict screening process for any prospective tenants.

✔ We are always available to have a chat or answer any questions you may have about the current market and your property.

✔ We conduct routine inspections when they fall due and report any issues directly to you. If any maintenance is required we will provide you quotes for your approval before any work commences.

✔ We will ensure we manage your property to your satisfaction

 

So, why should you choose us to manage your property?

✔ Our onsite team operate directly from the complex, meaning fast and efficient responses to any concerns 7 days a week.

✔ We can show potential tenants through an apartment for an inspection with relatively short notice.

✔ We have a hands-on appraoch and have a maintenance person onsite within the buildings so can do repairs internally for a more affordable price than an outside contract person.

✔ We can provide better secuirty for your property as we are onsite so we can see what is happening within the buildings therefore, we are there to monitor your property closer and monitor tenant behaviour.

✔ If an emergency situation happens for example a burst pipe within an apartment, we can attend to this quicker and have the issue resolve promptly.

✔ We prioritise our client's needs whereas outside agents may have other properties in other locations and may take longer.

✔ We conduct regular external inspections on each building to ensure they are presented well, to a high standard and are operating at their peak at all times.

✔ We have tenants walk in and enquire about current listings or vacancies daily so we can access their needs and provide them with an immidiate service meaning prompt onsite action resulting in properties being leased quicker with minimal vacany rates.

✔ We manage the majority of rented apartments in each of our buildings so we can place the right tenants in the right apartment while maximising your return.

✔ Tenants often prefer to deal directly with an onsite property manager, for ease of maintenance requests and general enquiries which attracts higher rental rates.

✔ Our onsite team includes administration staff and professional maintenance staff who are all available to provide prompt attention to tenants and landlord needs. Whether it be a leaking tap, light not working or a tenant locked out, our onsite team are there and ready to attend.

 

If you are looking for a property manager that you can trust and rely on, contact us today!

 

Posted on 18 May 2023

 

Disclaimer: This blog post is not to be considered legal advice. If you are seeking specific legal advice we suggest that you consult a legal professional before making any significant decisions in this regard.