The Right Agent For Your Investment Property
The reputation of the agency and of course the reputation of the property manager play an important role in the success of your investment. After all, if you and your property are just one of a number in a large rent roll, you will certainly not be receiving the level of service or attention that you deserve.
It is imperative that you consider all aspects of property management before you appoint an agent/ agency to look after one of your most valuable assets.
Often landlords look at fees as a basis on which to make a decision, but fees are only one component. Many large franchised agencies charge low fees but are unable to offer the level of service or superior management systems at this kind of pricing level.
Unfortunately it is the landlord that loses - untenanted property, loss of income, poor rental returns, damaged property - the list is endless. It is important to have expert managers to protect your investment and to secure you the level of income that is rightly yours.
An expert property manager may cost more initially, but overall, they will save you money through solid management and sound advice. Each staff member at Galetto Real Estate has experience in both sales and property management - after all, your home is being sold on a short-term basis to tenants, and we believe its features and benefits need to be explained fully to prospective tenants just as we would explain to prospective buyers. By taking the time with prospective tenants, we can carefully select the appropriate tenant for your property and achieve the correct rental return for it.
We invite you to contact our office to appraise your property for rental and discuss a management package that suits your requirements.
The following are questions you should ask agencies when considering appointing a property manager :
1. How quickly will you find me a tenant?
2. How much will my property rent for?
3. What advertising would you recommend to find a new tenant and how much will this cost me?
4. How do you operate your open homes?
5. Do you charge a leasing fee?
6. How do I know you will select a quality tenant who will not damage my property? What is the approval process?
7. How do I get paid?
8. What happens if the tenant does not pay the rent on time? What are your procedures?
9. How do you handle repairs and maintenance?
10. How do you handle emergency repairs?
11. How often do you speak with your landlords?
12. What are your management fees?
13. Why do I need to sign an agency agreement?
14. What are my obligations to your agency and to the tenant?
15. Do I need to insure the property whilst it is rented?
16. Do you have a computerised system in place so that I receive monthly/annual statements?
17. Do you have any testimonials from landlords/tenants?