A large part of maximising a sale price when selling your investment property is carefully looking after it though it’s life. Bad tenants can prematurely wear and tear your property, reducing its value by tens of thousands of dollars.
Hence it’s critical to have property management that have their ‘finger on the pulse,’ when it comes to tenant selection and long term property maintenance.
How do you know if you property manger is doing a good job?
A great sign of a good property manager is regular communication, at least every three months. If your property manager is making an effort to report issues, manage repairs or insurance claims, organize routine inspections and giving you feed back on it all, they’re on the right track.
Remember, no news isn’t always good news.
The Surprise Repair Bill.
Another sign of a poor property manager are surprise repair bills that seem higher than normal.
A good property manager should provide feedback of an issue before organizing a repair ie. photos and a detailed description. Then give the landlord an opportunity to take on the repair works or let the property manager organize it all.
Tradesmen are very sharp when quoting work and can spot an opportunity to over quote a job when dealing with a decision maker that doesn’t have an interest in a low price.