Your property manager is responsible for and not limited to:
- Getting your management authority signed off on
- Arranging the advertising of the property
- Attending the home opens
- Checking the applications and references
- Preparing the lease and bond documents and lodging the bond
- Arranging for the lease sign up and explanation of the documents to the tenant
- Conducting or arranging to have a detailed Property Condition Report done before the tenancy begins
- Collecting the rent and managing the arrears (hopefully not to many arrears)
- Managing payments to water corp - on billing tenants
- Coordinating repairs
- Performing quarterly routine inspections on your property and providing you with the inspection reports
- Issuing required notices and documentation in line with the legislation
- Managing all rent reviews, doing rental appraisal updates and lease renewals
- Finalising tenancies: re-advertising, bond inspections, reports, damage rectification
- Communicating with insurers on any claims, if authorised to do so
- Sending monthly statements and an annual EOFY summary to the owner
- Ensuring you are fully up to date with your compliance checks
- Maintaining clear communication with you and your tenants.
Alot of people think that it's easy to be a Property Manager, let me tell you I would rather stick pins in my eyes than do their job. Fortunately for us we have two incredible humans running our property management division and they are a "real" team, work together, help each other, nothing is too much trouble.
Just remember you pay peanuts you will get monkeys. No, it doesn't matter until it does matter and many a time, I have said NO to people that have got themselves in trouble with tenants not paying their rent, they are way behind and it's court time - nope not doing it you have paid peanuts to monkeys and they were not on top of everything and I am not putting my staff into that position.
We have also over the years weeded out the properties that need a lot of work and owners didn't want to do it.
With only being able to raise the rent now once a year it certainly becomes under market value very quickly.
I really value Property Managers; good ones, they know what they are doing, they know the legislation and they are not a walk over with owners or tenants. Worth their weight in GOLD well maybe SILVER ha ha....the price of gold is ridiculous.
MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!
SELLING MOSMAN PARK & THE WESTERN SUBURBS!!
KEEPING IT REAL IS OUR MOTTO!!
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