Hiring a property management company for your South Brisbane commercial or residential property is the first step towards success. A property manager will increase your revenue stream by getting high quality renters, establish good relationships with renters hence prevent you from scams and law suits and also increase the value of your property by taking good care of it. Hiring a property management South Brisbane service, therefore, is not just an option but a necessity.
There are many companies offering property management South Brisbane has today. But not all of them are fit for the job. Some might be offering different services from what you’re looking for, some have price tags that don’t match your budget, and some are scams. You need a property manager who is professional, reliable and comfortable to work with. Here are some tips on finding a good property management company.
Do some rental research
Before you jump onto finding a property manager, find out the rental rates in your local area. You may check out online rental listings. Normally, property managers will rent the property to the highest bidder because their pay comes from a percentage of the rent. But, you don’t want your property to be rented out for rates that are way to high than others in the neighborhood. You might also want to find out the laws that safeguard you as the landlord before you enter into a contract with a property management company.
The good way to find a good company for property management South Brisbane has today is through recommendations. Your colleagues, friends and relatives are likely to provide you with genuine recommendations. Better yet, you can look for a landlord or a real estate agent who’s worked with the company you are thinking of. Get local recommendations as their quality of service is easy to verify.
Evaluate their service range
Once you’ve obtained a few recommendations, the next thing is to evaluate the kind of services they provide. The facets associated with property management include leasing, rent collection, customer service, accounting and maintenance. If a company promises to carry out all these tasks on its own, watch out. It is impossible for one company to handle it all in a proper and timely manner. You may hire a property management service to do the leasing and rent collection alone. The other facets can be given to contractors on need basis. A tax professional, for instance, can be hired during the tax return period.
Run a background check on the property management company
You want to make sure that you’re dealing with a true professional. Ask for their credentials. Ensure that they have a license and insurance – they should be up-to-date. This will determine their legitimacy. It is also important to perform criminal and credit background checks. Also, ask for references – three or four of their recent or current clients. Call the references and ask about the company’s quality of communication, the kind of renters they install and the overall quality of their services. Finally, find out how they advertise their properties. This will greatly influence the kind of renters you attract and how fast you do so. Check out Metrocity Realty.