When building a rental property, or thinking about buying one, you should also look for a competent property manager to manage the property as soon as it is ready for occupation by tenants. Whether the property is a residential or commercial development, you will need a competent property manager to ensure it is well-run. After all, you do not have the experience, time or willingness to take care of the day to day running of the property, so hiring a professional makes much more sense. Since there are many Sydney property managers, you have to compare them to identify the best service provider for your needs. Be sure to consider the following before making your final decision:
i) Experience
There are thousands of real estate management companies in Sydney, and they are all different. Therefore, you have to spend some time comparing the type and quantity of experience that the shortlisted firms have in the industry. Be sure to check the types of properties that the shortlisted firms have been managing over the years to identify the right one for your needs. If you need a manager for your residential property, be sure to look for a firm that has been managing hundreds of residential properties for many years.
ii) Fees/Commissions
This is perhaps the most crucial factor of consideration when looking for a real estate manager. After all, you expect to get the best possible return on your investment. Therefore, you have to get in touch with all the top-rated managers on your list and ask them to provide you with their quotes. Once you have the quotes, you should be able to compare them and choose the right property manager for your needs.
iii) Licence
You should not assume that just because someone calls themselves a property manager that they are qualified. After all, there are many quacks out there, so you have to be careful. The best way to avoid hiring quacks is to only shortlist firms that have a valid license to offer property management services.
iv) Reputation
There are many real estate managers who are known for scamming their clients by declaring a lower occupancy rate even when there is 100% occupancy. To avoid losing money, therefore, you have to search the web for reviews and testimonials and compare them before making a decision. You want to hire a trusted and reliable manager.
v) Guarantees
The top managers in Sydney usually offer a wide range of guarantees. For instance, you will find a customer satisfaction guarantee as well as a guaranteed payment date for the rent.
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