Residential rental apartments and properties are always good investment opportunities. As an owner, however, you might not have the time to manage it well. Hence, it is advisable to go for an efficient property management company that can manage the property well and take care of due diligence too.
You can entrust the Brisbane management rights to a trusted company within the city or any other location, so that you are not too burdened with the day-to-day affairs of the rental property. Still, a local company with a good record is the best option.
Listed below are some tips to help you choose the right company:
- Knowledge of the local market – The company you pick should have the complete know-how of the local rental market. The managers should know what the renters prefer and advise you on how to improve your property to suit the needs of tenants.
- Meet your exclusive property manager – The company should allow you to meet with the property manager assigned to you. Your initial interaction should be able to help you and the owner to think of ways to improve the rental value of your property.
- References – The property manager should provide you at least three references. They should preferably be from current clients, who have similar type of apartments. You can ask them on the level of the service offered by the manager.
- Good customer service – Both the company and the manager should be friendly and forthcoming. They should keep you informed regularly, as to how your property is being managed.
- Transfer the rent soon – The company should be one that transfers the rent money into your account within a week of collection. Some companies keep the money for a longer period to earn interest. This is not favourable to you, as an owner.
While those are some of the basic features you should look out for, there are a couple more points you can bear in mind. Look for a company that maintains their accounts in order and are organised in maintaining your cash flow. This will help you pay your taxes at the end of the year without any issue.
Finally, choose a company that can maintain good relations with your tenants, as they actually are your customers. Contended tenants will ensure lower turnovers thus, lesser vacant apartments and easier releasing too.