If you are landlord in Toowong, you will be looking for the property management services that can offer you the best tenants for your property. Good tenants mean less headache and better incomes from your rental properties. But how can you determine if you are getting the best tenants for your properties?
Before signing on a contract with a property management company, there are certain important questions that you need to ask your property manager regarding the kind of tenants that you wish to have on your property. These include the following –
Do they have a good knowledge of the local Toowong property market?
It is important to work with a Toowong property management company that has a deep knowledge of the local property market. Look at how long they have been practicing and their track record in the industry. It is important to ask for some references or testimonials on the past clients and properties that they have managed.
Familiarity with the legislations
A good property management company in Toowong must have a good familiarity with various legislations regarding the landlord-tenant relationship. The laws which govern the ownership and the leasing of properties change on frequently so it is important to work with a property management company that is intricately familiar with these legislations. For example, are they members of some professional affiliations? Is there evidence of some ongoing development in the industry?
What is their level of support?
In order to ensure the best relationships with your tenants, it is important to have a property management company that offers good support through a real estate office. The best property management in Toowong should have professional staff to handle the day-to-day administrative tasks in the office such as the sales, customer support, marketing and finance amongst others. The PM company will be responsible for your investments so it is important to know who will be managing your investments.
How will they attract the best tenants?
Look for a PM company with a huge database of quality tenants that can stay in your properties. In this respect, it is important to work with a property management company that has been in the industry for quite some time and which has a good experience on how to do professional marketing to attract the best clients to your property.
Look at how they take care of the financial aspects of the transaction
How and when will the monthly rent be collected and remitted to you? The property management Toowong company should explain this very clearly to you. It is important to have a fixed date on when you can expect to have money in your bank account. Determine the property management fees in advance before you sign on the dotted line. All these financial aspects of the property management agreement must be stated in the contract that you will sign with the property management company.
Frequency of property inspections
The frequency of the inspections is generally regulated by legislation. The PM can make arrangements for that and this can also be stipulated in the agreement that you will sign with the property manager.