6 Tips for Rental Property Management – A Guide for Landlords

Rental property management can be tough to come across, common for highly personalised industries where standards aren’t clearly defined. As a rule of thumb – quality property managers can communicate, inform and stay active on behalf of tenants while remaining positive and professional. There are also however certain expectations that every well-informed landlord should be aware of in order to maintain peace of mind over their property.

What landlords should expect from Rental Property Managers in Rental Property Management?

• Four routine inspections per year are conducted with a detailed library of evidenced images. Regular reporting is key to keeping your management transparent.
• A descriptive and detailed ingoing condition report. Depending on the size of the home, upwards of 500 images attached to report and made available to you. Ideally, this is through a digital platform.
• Strong communication skills, and consistent and quality contact even if there are no problems. Ideally, your property manager can attend to the property in person when needed.
• Knowledge of up-to-date current rental market within the area, as well as ongoing training to keep current with NSW property legalisation.
• Attention to detail in overseeing your tenant’s moves. This becomes important if/when a tenant moves in or out.
• Online portal access for landlords and tenants, allowing you to log in and oversee daily activity & have required documents at hand.

Quality property management can be difficult to truly assess and quantify, but by keeping in mind this framework of professional industry service you will be able to identify the key traits in your ideal property manager.

If the quality of your property management is an area of concern, find out more about the team at Stockton Grange Real Estate at www.stocktongrange.com.au. Telephone: (02) 9677 1131

Source: Stockton Grange Real Estate

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