Selecting the right Property Manager for your Sydney property is a crucial decision for property owners in vibrant and diverse suburbs such as Marrickville, Petersham, Kogarah, Hurstville, Canterbury, Bankstown and Hurstville where local knowledge, experience and care plays a huge part. Property management plays a pivotal role in ensuring the seamless operation and optimal returns on your investment. In this article, we’ll discuss the factors to consider when choosing a Property Manager or Property Agent from a reputable Property Management Agency.
1. Property Management agency structure is key.
Before delving into the selection process, it’s important to understand how an agency you are considering is structured. Some agency’s have 1 or 2 property managers doing everything. That set up makes it very difficult for the property manager to do everything. Unfortunately, it is impossible for a single person to be great at maintenance, leasing, legislation interpretation, conflict resolution, negotiation, and handling endless bills! No human being can be great at everything. This is why the best agencies have divided those tasks into teams of people that are suited for those. On the best performing agencies, Property Managers remain ultimately responsible for the overall management of the property, but their role is more of an orchestrator/conductor where they undertake the difficult tasks but have support teams complete mundane tasks such as getting quotes for maintenance, raising work orders, liaising with councils for the resolution of issues, and paying bills. With such support, Property Managers can then concentrate on the big ticket items such property marketing, tenant acquisition, and lease negotiations.
2. Local Expertise in Sydney’s Suburbs
Sydney’s suburbs, including Marrickville, Petersham, Kogarah, Hurstville, Canterbury, Bankstown and Hurstville, each have their unique characteristics and rental market dynamics. When choosing a Property Manager, look for someone with a deep understanding of these specific areas. A local Property Manager will have valuable insights into neighbourhood trends, rental rates, and tenant preferences. A Property Manager doesn’t have to be located on the suburb, but they need to be willing to walk the streets, attend routines and spend enough time at Open For Inspections to understand the demographic.
3. Reputation and Track Record
Research is key when selecting a Property Manager or Property Agent. Look for reviews and testimonials from property owners who have used their services. A reputable Property Management Agency should have a track record of effectively managing properties and delivering on their promises. Ask for references and check their credentials to ensure they are licensed and qualified.
4. Communication and Responsiveness
Effective communication is essential in property management. Your Property Manager or Property Agent should have excellent communication skills, keeping you informed about property developments, tenant inquiries, and maintenance updates. They should be responsive to your needs and readily available to address any concerns.
5. Comprehensive Property Management Services
Choose a Property Management Agency that completes a wide range of services to cater to your property’s needs. This should include tenant screening, lease management, rent collection, property inspections, maintenance coordination, and financial reporting. A well-rounded Property Manager or Property Agent should be able to oversee and be comfortable to all aspects of property management efficiently.
6. Transparent Fees and Pricing
Property management fees can vary among different agencies and professionals. It’s important to have a clear understanding of their fee structure and pricing. Ensure there are no hidden costs, and that the fees align with the services provided. A transparent Property Manager will be open and honest about their pricing.
7. Personalised Approach
Every property is unique, and your Property Manager or Property Agent should tailor their services to your specific property’s needs and your individual goals as a property owner. A personalized approach ensures that your property receives the attention it deserves.
Selecting the right Property Manager or Property Agent from a reputable Property Management Agency is a significant decision for property owners in Sydney’s suburbs like Marrickville, Petersham, Kogarah, Hurstville, Canterbury, Bankstown and Hurstville. Their expertise, local knowledge, communication skills, and reputation will play a pivotal role in the successful management of your property and achieving optimal returns on your investment. Take the time to research and select a property management professional who aligns with your goals and priorities.
Who we are:
NextGen Property Management (www.nextgenpm.com.au) is a boutique Real Estate licensed agency that specialises in property management. NextGen Property Management does NOT have a sales team. We are considered to be one of the best property management agencies in Sydney. Our area of focus is residential property and we operate in Inner West, Eastern Suburbs, St George, Sydney CBD and South West Sydney. NextGen was created from its infancy to cater for investors as it was founded by investors who quickly realised that in a highly regulated industry like Real Estate – competence, expertise, care and service by property managers varies greatly.
As an investor, you need to have trust for and feel valued by your property manager. You need to know that your property and tenants are being looked after with minimal disruption, and you are getting maximum return on your investment. At NextGen we understand that, because we are investors living busy lives ourselves. Our promise to you, is that you will no longer have to worry about your most valued asset because we will make sure to take care of it as if it is our own. If you want to learn more about us just click here to organise a time for a chat. Or call us on (02) 9199 9628. We would love to hear from you and to share our story.