• Richard Dawson

Hiring a Property Manager: What to Look for

Updated: Mar 29

The decision to hire a property manager is never made lightly. It is important that you find a property manager that suits your needs. A friendly, bespoke services that is passionate about what they do it key. Your current working relationship with a property manager may have run its course. Here’s how you can tell if it’s time to find a new property manager.

Property Manager handing over keys

Some Common Red Flags/Issues

How can you be sure that what you’re feeling isn’t just “cold feet” about working with a property manager? Here are a few red flags that you should keep an eye out for if you find yourself considering jumping ship and finding a new property manager.

1. Lack of Communication

Effective communication is one of the most important skills a property manager should. If your property manager is often hard to reach, doesn’t provide proactive updates, and takes a long time to answer your questions, this is a red flag. Clear communication with you as a landlord is also a good indicator of their communication with your tenants, which is also crucial. Look for a property manager that you can trust to communicate all the necessary points in a timely manner.

2. High Tenant Turnover and Vacancy Rate

If a property management company is delivering, you should experience relatively low turnover and short vacancy periods in your property. They should be able to market your properties effectively and know how to find reliable and responsible tenants.

If you find that your eviction rate is higher than average, it’s possible that your property manager is missing the mark when screening tenants. If you find you have a high turnover rate, it may be worth asking your property managers what your tenants’ experience is like. There is potential that there are other reasons for a high turnover such as renting to a particular market that tends to stay in properties for shot periods of time. It is important that your property manager can communicate this with you effectively and should be able to deal with the administrative details of the process.

3. Limited Hours

One of the wonderful benefits of hiring a property manager is that they’ll be on call for your tenants, whenever they have an emergency or need maintenance requests fulfilled. Your tenants rely on your property manager for these services, and so do you to take the stress out of renting. If your property manager has limited availability, service requests and response times are likely to be delayed. Find a property manager that there for you and your tenants as and when you need them.

4. Poor Follow-Through

Your property manager should be able to provide you with monthly statements and updates of maintenance requests. These tasks require attention to detail and follow-through. If you must request theses updates several times and always must follow up, you have a problem. Property managers are there to offer a tailored and hassle-free service to both you and your tenant, keeping you up to date about your property while doing the everyday tasks.

Qualities to Look for in a New Property Manager

Firstly, consider what qualities you’d like your new property manager to have and what services you require them to offer. An effective property manager will have excellent communication skills, a reliable portfolio of landlords, and will ideally specialise in your kind of property. They’ll be able to take care of the marketing services you’ll need to keep your rental property filled. They should also have a grasp on new technological trends in property management and be able to keep you up to date.

Buildium’s 2021 State of Property Management Report shows that 81.8% of property managers use property management software such as Inventory Hive for inventory reports and 77.4% offer online payments. When your property manager uses the latest software options, it will be easier for you to be kept up to date on all goings-on with your business. Your tenants will benefit and so will you.

How R.A.D Property Management can Help

R.A.D. Property Management provides a personalised and friendly approach to property management. We specialise in residential & commercial lettings.

Through our local experience & knowledge we can offer you a tailored and hassle-free service to both you and your tenants.

R.A.D Management provides a first-class service to landlords and tenants. We work hard to ensure our landlords’ and tenants’ lives are made simpler and stress free by providing a full support service, from maintaining the property, collecting rent on-time and a smooth transition between tenants. Our experienced property management team are always happy to assist and can advise you on all your property management needs. Whether you own a single property with a live-in tenant or multiple blocks of apartments, we have the flexibility to suit your needs.

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