If you are a real estate investor with properties in Camperdown, it is important you hire the most experienced property managers in Camperdown to take care of your investment and ensure you get the maximum returns from your portfolio. Property managers, among other things, advertise vacant units, vet tenants, draft tenancy agreements, help tenants to move in, collect rent and hold deposits, evict rent defaulters and maintain the property. As you can see, these are important tasks, which real estate investors do not want to handle. Fortunately, there are many property management firms in Camperdown that can take care of these tasks to ensure that investors get to enjoy a stable income stream from their investments.
Hiring a Real Estate Manager
When looking for a property management firm, there are a number of things that you need to consider. They include:
i) Experience
This is the most important consideration because experienced service providers understand client needs and expectations as well as the challenges of renting property to third parties. Therefore, they have a better chance of meeting client needs and expectations than newbies. There are three things that you need to look at when comparing the experiences of property managers. The first is the number of years a property manager has been managing properties in the Camperdown real estate market. The longer the better. The second measure of experience is the number of properties the firm is currently managing. If a firm is managing thousands of units, this should be taken as a testament to their quality of service, so you should give them priority consideration. Lastly, you should check the types of properties the firm is currently managing. If the firm has a thousand units, but only 25 are similar to the one you have, they may not have what it takes to manage your property. ideally, you should give priority consideration to a firm that specializes in the type of property you have, whether retail, residential or commercial.
ii) Fees/Commission
Rent is the only source of revenue from real estate. Since the property manager must also be paid, repair costs met and property taxes deducted, you want to hire a management firm that charges the lowest management fees to ensure you get the highest possible return on your investment. In case of repairs, the ideal firm must have professional relations with reputable electricians, plumbers and HVAC contractors who charge affordable rates.
iii) Insurance and Guarantees
The ideal property manager should give you an assurance or guarantee in writing that all your units will be full all the time, and that the net rental income will be remitted on a given date every month.