A good residential property management company may help landlords retain tenants and make sure an investment property is looked after. A bad property manager can cause many headaches and make it harder to manage your rental property effectively. If you want to partner with the right company, understand what a property manager should bring to the table.
What makes effective property managers in Maroochydore?
A property investment doesn't just look after itself. Finding the right property manager is an important step. But you need to know what you're looking for first. Here are some major qualities you should expect.
Local knowledge
Any real estate agent will tell you that one of the most critical aspects of a property is its location. It's simple to see why. Properties don't exist in isolation. They're connected to schools, shopping precincts, places of employment, and a whole lot more. This may impact the type of tenant looking for a rental property and how much they might be willing to pay.
A local property manager with knowledge of the area is vital. Your manager should understand:
- The tenant demographics to focus on. This can play an important role in selecting suitable tenants.
- Suitable weekly rent prices for the area and type of property.
- Local demand and vacancy rates.
FAA Property is located in the Maroochydore area. We have in-depth knowledge of Maroochydore and the surrounding suburbs, including Alexandra Headland.
Good communication
Transparent communication is fundamental to everything a property manager does. Hallmarks of good communication include:
- Prompt response times. If a tenant raises an issue, a manager should respond quickly. Dealing with maintenance concerns as soon as possible prevents them from becoming larger problems.
- Direct access. If you can't contact your manager directly, that's a red flag. It's difficult for a manager to stay on top of critical matters if they're not making themselves available. Look for someone who offers multiple lines of communication, such as the phone and email.
Transparent management fees
Management fees are usually deducted from the property's rental returns. Additional fees may be charged, such as:
- Letting fee. A one-off fee may be charged to cover lease preparation for a new tenant.
- Inspection fees. Regular inspections are often included in the management fee. However, some companies may charge separately for each inspection.
Ask for a complete rundown of the fees the company charges and a quote for how much their services will cost you.
FAA Property's Maroochydore property management services
Some landlords prefer to work with property management companies that have long-standing experience and a history of supporting clients. FAA Property has operated on the Sunshine Coast for decades and has worked with a large number of clients over that time. Here are the processes we offer.
Management services
The services we provide to property owners include:
- Tenant screening.
- Leasing arrangements.
- Routine inspections.
- Scheduled maintenance.
- Rent collection.
- Legal compliance.
We’re proactive with maintenance concerns to help reduce the risk of issues escalating. Our team is committed to a same-day response to queries to assist tenants and the property owner.
We've developed relationships with a range of qualified tradespeople. When your property requires repairs or maintenance, we can organise the right help quickly.
Technology
Our clients have access to the PropertyMe portal. You can find:
- Leasing documents.
- Rental payments.
- Maintenance requests.
- Inspection reports.
- Financial statements.
You can also contact your manager through the portal's messaging system. Our integrated software makes it easier for a landlord to track their rental property.
Fee structure
We tailor our fees according to your property and location. This allows us to understand the specifics of your situation and the services required. We're completely open about the fees we charge and provide a full schedule of costs before a client signs on.
Access to our professional team
FAA Property is part of FAA Group. This may give you access to financial professionals who can work with you to understand your financial position and explore available options. FAA can provide general information only. Any tailored advice will be provided by authorised representatives of Lifespan Financial Planning Pty Ltd (AFSL 229892). Credit assistance may be provided by FAA under their credit licence (ACL 388789).
From our clients
Disclaimer: This testimonial is a personal opinion. It may not reflect the experience of all clients. Testimonials do not guarantee an outcome. Past performance is not a reliable indicator of future results.
FAA Property have always been so pleasant to deal with. As a tenant, there have been other agencies that make you feel like an inconvenience. FAA have always been happy to help with any questions we have.
- Jessica Popple
Conclusion
Many property investors look for long-term, reliable rental arrangements. Managing tenants can be a big job, so it can be helpful to partner with a company with local knowledge and clear communication.
Do you need assistance with your rental property?
Contact FAA Property to discuss how our services may help you.
Disclaimer: The information in this article is general in nature and does not take into account your personal circumstances. It is not financial advice or credit advice. Any tailored financial advice will be provided by authorised representatives of Lifespan Financial Planning Pty Ltd (AFSL 229892). Any credit assistance will only be provided by FAA Group under its Australian Credit Licence (ACL 388789).
Written by
Michael Hehir
Director & Financial Consultant
Michael has worked in the financial services industry for two decades and has vast experience across multiple areas including, Salary Packaging, Mortgage Broking, Investment Properties, Shares, Insurance and Superannuation. Through Michael's extensive Consulting career at FAA, he has specialised in working with State and Local Government employees on their long-term retirement goals. Michael has a young family on the Sunshine Coast and a passion for technology and sport for his kids.
