Real estate management companies normally play a crucial role in the industry. For starters, they help to ensure that rental properties are professionally-managed, this means that both renters and property owners will be happy with the service. Secondly, they ensure that properties are maintained regularly to reduce the rate of wear and tear. As you may already know, Sydney property managers are responsible for finding tenants, vetting potential tenants, advertising vacancies, holding rental deposit, collecting rent, evicting rent defaulters, maintaining the property and carrying out both repairs and maintenance on the property they are managing. Since there are many Sydney property managers that you can hire, it is always a good idea to do a little bit of research before making a decision. Below are some of the key factors that you will need to consider before choosing a given property manager:
Before you can even look at anything else, it is important you compare the experiences of different property managers operating in Sydney. Simply search the web and make a shortlist of the top-ranked property managers. After that, you can start checking how each of those firms is rated by experts and property owners. Next, read a couple of reviews and testimonials to learn more about the reputation of the property managers in question. This will help you to make an informed decision.
The type and amount of experience a management firm has must be looked into. You want to hire the most experienced real estate manager because they understand your needs and expectations. Therefore, you need to compare the years of experience that different firms have and give priority consideration to the most experienced firms. Be sure to also compare the number of properties that the shortlisted firms are currently managing, or have managed in the past. In addition to that, you need to check whether or not the shortlisted firms have been managing residential or commercial properties. This will help you to make an informed decision.
iii) Fees and Commissions
Real estate managers normally charge different rates for their services. Since you want affordable services, be sure to spend some time comparing the fees and commissions quoted by the shortlisted firms. This will enable you to make an informed decision. After all, the affordability of management services will have a direct impact on you return on investment.
iv) Guarantees and Assurances
Only firms that are insured and bonded should be added to your shortlist. The ideal firm should also offer customer satisfaction guarantees. They should also offer a guarantee on when rent will be remitted each month.