IS YOUR PROPERTY MANAGER WORKING FOR YOU??

Owning an investment property is one of the most important decisions of your life, even more so is who you place in charge to manage it. Norton Realty has a few easy questions to ask yourself whether your current agent is looking after your investment property competently.

 

  1. When was your last routine inspection done on your property?
  2. Are the repairs and maintenances up to date on the property?
  3. When was the last rent increase implemented on the property?
  4. Are your tenants paid up to date?

 

Real Estate agents are allowed to conduct routine inspections a maximum of 4 times per year, at each inspection a written report must be completed and a copy should be forwarded to you for your records with a list of any repairs which may be required to be completed. If the agency performs few or no routine inspections then how are you to know if the tenant is looking after your biggest investment asset.

 

Your Managing Agent should contact you when tenants report repairs to the property and unless urgent seek your instructions on the repairs. Keeping your asset maintained is very important as it keeps the value of your asset true to the market.

 

Property Managers should be reviewing the rent received on all of their properties not just yours at least every 12 months. Rent reviews ensure that it is keeping up with the current rental market, they also maximise the return on your investment.

 

All real estate agencies should have their own thorough rent arrears procedures monitoring and acting on any that may occur.  Tenants can sometimes fall behind but keeping a strict watchful eye on rent arrears is paramount on running a competent agency.

 

At Norton Realty we believe that these points are very important in our management procedures. If you would like to discuss with our dedicated property management team regarding your investment property please do not hesitate to contact our office on 6382 3883