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Home > Landlords Resources > Appointing A Manager
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APPOINTING A MANAGER
There
are many advantages to appointing a property manager to
manage your rental property. These include:
- They are professionals in property management. The
services they can offer you and the tenant are usually
more extensive and are backed by industry tools and services, such as rent.com.au
- Property Mangers have access to reports, fact and trends to help price and promote your property in the best way possible
- Property managers have good local contacts when repairs
and maintenance work is required
- Tenants most often find it easier to access and discuss matters
with property managers as a third party, which means better communication and less possible conflict for you
- The property manager acts as a buffer between you and the
tenant if things go wrong and can help negotiate for you better with less direct stress on you
Use the Find A Property Manager service to help you get in contact with property managers in your area or Get A Property Management Quote service to have local experts provide you with a quote |
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What
You Can Expect From a Property Manager
When
appointing a property manager, you will sign a property
management agreement, and much like a lease, its terms and
conditions form a contract. These agreements vary in
their terms as agreed between you and the Property Manager and contain notice periods for termination.
Read
through these carefully and discuss clauses such as allowing the
property manager to authorise and spend up to a specified
limit for repairs.
The
functions of the property manager include:
- Advertising for tenants, including online advertising at rent.com.au
- Screening, interviewing and performing reference checks on prospect renters
- Negotiating rental terms on your behalf
- Explaining the tenancy agreement to renters and obtaining
signed lease documents
- Preparing the Property Conditions Report
- Lodging the Bond with the relevant bond board or trust
- Collecting the rent and transferring it to your account
- Sending you monthly payment and commission reports
- Receiving and conciliating rates notices
- Arranging quotes and repairs and documenting these in your
account
- Conducting property inspections
- Generally dealing with the tenant for all matters on
your behalf
- Effectively managing your property for maximum return and convenience to you
Property
Management Fees
There
are a variety of ways in which the property manager gets
paid but the most common is to charge a percentage (%) of
the gross rental collected per rental period during the
term of the lease. This is usually between 5-10% depending
on what services are provided.
The
property manager will also probably charge a 'letting
fee' for each new tenancy and may claim costs associated with the
advertising of the property in newspapers or on
rent.com.au.
All
of these terms can be discussed between you and the property
manager. |
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Home > Landlords Resources > Appointing A Manager
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