How to Identify the Best Residential Property Management Company in Sydney
You don’t want to be messing around when it comes to finding the best property management agent to manage your rental property in Sydney. While the right property manager will bring you reliable rental return and tenants who are happy to renew the lease, the wrong one could bring you nothing but trouble.
Based on our experience within the industry, here’s how to find the right professionals.
This is universal advice, whether your investment property is located in Sydney or anywhere else in the world. It pays to use a property manager who works in that particular area and understands the local market and demographics. This is because we can provide realistic guidance when it comes to reviewing your rental rates each year, and setting your property apart in the market when finding a new tenant. This is exactly why our property managers focus specifically on the inner west and eastern suburbs of Sydney.
Ask questions (lots of them!)
We’ve covered all of the must-ask questions for your new property manager in a previous blog post, but here are three of the key ones:
- How do you make sure my tenant pays on time?
- How do you find and screen tenants?
- What percentage of tenants with you are currently in arrears?
If a property manager can answer your questions clearly and without excuses, there’s a good chance they know what they’re doing.
Assess their communication
Responsive communication is one of the single most important qualities you can look for in residential property management companies. Not only is it important that you and your tenants get your questions answered, but it’s also a legal requirement that any urgent repairs or maintenance will be attended to quickly. So if a potential property manager is hard to get hold of, give them the flick and look elsewhere.
Consider word of mouth recommendations and referrals
While Google shouldn’t be the deciding factor when it comes to finding the right rental tenancy agency, it can really help to read through reviews and recommendations for a property management agency. The odd bad review might not be much to worry about, but a consistently low rating should tell you to steer clear. We see a personal recommendation as the ultimate proof of performance, and we’re happy to report that almost 88% of all our new business comes from someone referring their friends or family to us.
Evaluate how proactive they are
Property management is one area where complacency is unfortunately very common, and it can absolutely lead to problems for you and your tenant. The Let’s Rent team is very aware of the problems that complacency can bring in this industry, which is why we’re continually assessing and improving our processes. We’re proactive about improving the way things are done.
We focus on developing positive tenant relationships. We choose to use direct debit rental payments, which means our arrears are consistently less than 1% of all properties we manage. And, we conduct regular rental reviews to ensure you’re getting the best possible return on your investment.
If you are in the midst of finding a new property manager in Sydney’s inner west and eastern suburbs, get in touch and we’d be happy to answer any and all of your questions.