Who will be my primary point of contact and how long have they been with the company/industry?
What other fees, besides the letting fee and management fee, should I be aware of?
What is your policy on rental arrears?
How many similar properties do you manage?
Are all of your tradespeople licensed?
What training does your company provide?
How often do you inspect properties and what reports do you send?
What online tools do you use and can I get real-time reporting?
How do you screen tenants?
What is your average days on market?
What is your vacancy rate?
What is your list price to lease price ratio?
What is your team structure?
Can you show me your customer experience system and ratings?
Can you share any Google reviews or testimonials from landlords and tenants?

By asking these questions, you can get a better understanding of the property manager’s experience, fees, policies, processes, and customer satisfaction levels. This will help you make an informed decision and choose the right property manager for your investment needs.

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Here are a few ways that poor maintenance can impact your budget:

1. Higher repair costs: Neglecting small issues can result in larger, more costly problems down the line. For example, a small plumbing issue that is not addressed promptly can turn into a major repair.
2. Decreased tenant satisfaction: Tenants who are unhappy with the condition of the property may be more likely to move out, resulting in lost rental income and the expense of finding and screening new tenants.
3. Decreased property value: Proper maintenance is essential for preserving the value of your property. Neglecting maintenance can result in decreased property value, which can impact your ability to sell or refinance the property.
4. Legal issues: Neglecting maintenance can also result in legal issues, such as health and safety violations, which can result in costly fines.

By working with a property manager who prioritizes maintenance, you can avoid these problems and protect your investment in your rental property.

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1. Establish clear communication channels: Determine how you will communicate with your property manager and make sure to use those channels consistently. This could be email, phone, or in-person meetings.
2. Be proactive: Don’t wait until there is a problem to communicate with your property manager. Keep them informed of any updates or changes that may impact your property.
3. Be specific: When you have a concern or issue, make sure to be specific about what you are looking for or what needs to be addressed. This will help your property manager understand your needs and take action more effectively.
4. Keep an open mind: Your property manager is an expert in their field and may have suggestions or recommendations that you hadn’t considered. Be open to their ideas and consider their perspective.
5. Stay organized: Keep records of your communication with your property manager, including emails and any documents that may be relevant. This will help you stay organized and have a clear understanding of any actions that have been taken.

By following these tips, you can ensure that you have a productive and positive relationship with your property manager.

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1. Higher vacancy rates: A good property manager will work to minimize vacancy rates by finding reliable tenants and retaining them for as long as possible. If your property manager has high turnover rates, it can cost you money in lost rent and the expense of finding and screening new tenants.
2. Lower rent: A property manager who is not aggressive in setting rent rates or negotiating with tenants may result in lower rental income. Over time, this can add up to significant lost revenue.
3. Poor maintenance: A property manager who doesn’t prioritize maintenance can lead to costly repairs down the line. Neglecting small issues can turn into larger, more expensive problems that can significantly impact your budget.
4. Legal issues: A property manager who doesn’t follow local laws and regulations can result in costly fines or legal action. This can be especially problematic if you are not familiar with the laws in your area.

By choosing the right property manager, you can ensure that your rental property is well-maintained, has a good occupancy rate, and generates a steady stream of income. The cost of a good property manager is well worth the investment in the long run.

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If so, you’re not alone. Managing a rental property can be stressful, especially if you’re not getting the support and guidance you need. Here are a few tips to help you find financial peace of mind and a better property manager.

1. Seek financial advice: If you’re feeling overwhelmed by your finances, consider speaking with a financial advisor. They can help you develop a budget, pay off debt, and plan for the future.
2. Review your property manager’s services: Are you getting the support and services you need from your property manager? If not, it might be time to switch to a new property manager who can better meet your needs.
3. Negotiate lower fees: If you feel that your property manager’s fees are too high, consider negotiating for a lower rate. You may be able to negotiate a better deal if you have multiple properties or if you’re willing to sign a longer contract.
4. Look for a property manager with a good reputation: A property manager with a good reputation is more likely to be reliable and professional. Ask for references and reviews from other landlords or tenants who have worked with the property manager to get a sense of their reputation.
5. Communicate with your property manager: If you’re not happy with your property manager, don’t be afraid to speak up. Clear communication can help you address any issues and find a resolution.

By following these tips, you can take control of your finances and find a property manager who can help you effectively manage your rental property.

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By considering these factors, you can find a property manager who is a good fit for your needs and will help you effectively manage your property.

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However, the general outline of an Agent’s fees will look something like this.

The Management Fee
You can expect to pay roughly 8% of the weekly rent plus GST to have your property professionally managed, however there may be room to negotiate if you have an investment property that has a higher than average rental income.

The Leasing Fee
A lot goes into finding a new tenant including getting professional photos, advertising the property, doing open for inspections, processing applications, conducting entry reports and a lot of admin. You can expect to pay a leasing fee of 1 weeks’ rent plus GST when it’s time to find a new tenant for your rental property.

Additional Fees
Depending on which agent you go with, there may be additional fees which may include admin fees, lease renewal fees, inspection fees & disbursement fees. Your best bet is to ask your agent directly what fees they charge and to look carefully over your management agreement before signing.

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1. Determine your needs: Make a list of your expectations and requirements for a property manager. This will help you narrow down your options and choose a manager who can meet your needs.
2. Research property management companies: Look for property management companies that operate in your area and have a good reputation. Read reviews, ask for references, and meet with the company representatives to get a sense of their style and approach.
3. Consider the property manager’s experience and qualifications: Choose a property manager who has experience managing properties similar to yours and is familiar with local laws and regulations. Look for someone who has a track record of successfully managing properties and maintaining good relationships with tenants.
4. Review the property management contract: Carefully review the property management contract before signing it. Make sure you understand all the terms and conditions, including the services the property manager will provide, the fees they will charge, and how decisions about the property will be made.
5. Trust your instincts: Choose a property manager you feel comfortable working with and who you believe will be responsive and reliable. Trust your instincts and choose someone you feel confident will represent your interests and manage your property effectively.

Overall, considering property management fees can be a useful way to find the best property manager in your area

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