Investors ask: Dodgy property managers

By Ben Kingsley
Ben Kingsley

Q. I’m purchasing a new house to rent out and I need to find the best property manager to take care of my house and tenants. What signs should I keep an eye out for to indicate a dodgy property manager?

A.The first trick I always use when I’m looking to select a property manager in the area is to ask whether they are specialists in their field, or if they are part of a broader real estate agency business. That way, I know their business doesn’t rely on commission for sales; it relies on being the best property managers they can be. So they focus on specialising in that space.

The second thing I do is contact the state agency association body, such as the relevant Real Estate Institute, and I ask who has won the awards for best property manager in the area where I’ve got my property. I ask for the winner and the runners up for the past two years. That gives me a good list from which to start refining my search. If their business is solely reliant on property management and I know they’ve been going for a good period of time, I know that it’s not going to be a second-rate part of their business.

I also want to know what sort of tenant they think the property would attract, and whether they’ll be low maintenance or high maintenance. I want them to be realistic with me; I don’t want them to over quote how much rent I’m going to get.

Ben Kingsley, founding director, Empower Wealth

Contact this Blogger Immediately

Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
BLUE BAY 49.18%
Investors ask: Dodgy property managers
SPI logo