Is my Property Manager doing enough?
Maintenance on your property is necessary to make sure that your investment remains in a pristine condition and maximises your return.
There is no better way of preserving the condition and value of your property other than appointing a property management company who cares about your place like it is their own.
Here is a list of things that HRE recommend you keep in mind while interviewing a property manager to take care of your investment.
How are the incoming maintenance requests by the tenants tracked?
Agents need to act fairly when attending to the requests of the tenants in priority order; software applications are available for tracking requests and this tool should be employed by a property manage.
Ideally, they should have an easy system for the tenants to submit their requests conveniently as well as follow up systems in place.
How do they handle after hour requests and emergencies?
Your property manager should have a strategy to ensure after hour requests and emergencies, you should be advised of these procedures when signing the lease so that you can rest assured that when there is an emergency, your manger will act appropriately.
What do they do regarding preventive maintenance?
Preventive maintenance is essential to keep those small issues from becoming bigger and expensive issues later down the track. Your agent should have predefined maintenance inspections to address the known issues. However, this should also mean that the investors have budgeted the repair expenses as soon as they may arise.
Do they have a maintenance team?
If the agency has a maintenance team, do they have the necessary licenses? Are they insured? They should also be available on a 24/7 basis throughout the whole year for emergencies.
What type of contractors are employed?
Whatever type of contractor your property manager works with, they should be insured and licensed. The managers should also oversee the work of the contractors and ascertain that their services are within recommendable standards. It is common for some real estate agents to pay invoices without checking the work and photos should always be documented.
Do they provide detailed reports on maintenance?
Finally, the property manager should provide you with detailed reports on maintenance done to the property and communicate with you on a regular basis. They should give updates regarding the status of your property. These reports help you determine if the managers are carrying out their duties as needed and provide real value for the fees paid. This also goes a long way in adding value to transparency and accountability in the services we provide.
Finding a good crew that can adhere to the factors mentioned above will increase your property value and ensure that its vacancy period is greatly minimised.Contact Us