Breaking down your property management fees
At first glance, it can sometimes be hard to justify your rental property management fees. Many management agencies do the bare minimum to offer a below-average property management fee, taking advantage of property owners currently feeling the squeeze.
To ensure your property is in the best possible position, consider whether your current or prospective property management agency covers the following necessary aspects.
Experience, Reputation & Compliance
Look for a property manager in Perth with a proven track record and a solid reputation in the industry. As property management involves navigating complex legal requirements and regulations, a trustworthy agency would have the required registrations and their CPD training up to date.
A well-run property management agency in Perth should conduct itself professionally and demonstrate integrity in its dealings should prioritize ethical practices, treat all parties fairly, and operate in compliance with industry standards. Always check their client testimonials or reviews, on Google or RateMyAgent.
Communication Tech & Responsiveness
Effective communication is crucial! In today’s digital world, property management companies should leverage technology and utilise efficient tools to streamline processes. Look for an agency that emphasises clear and timely communication with both owners and tenants. A modern real estate company uses management software, online portals for owners and tenants, and other technology-driven solutions for enhanced efficiency and convenience.
Knowledge of the Current Market
A Property management company should have a strong understanding of the local real estate market. They should be able to provide real-time insights on rental pricing, market trends, and property marketing strategies to optimize rental income.
Range of Property Management Services
Determine if the company offers a comprehensive range of property management services that align with your needs. This should include tenant screening, rent collection, maintenance and repairs, lease administration, financial reporting, and more.
Transparent Property Management Fees & Contracts
Ensure the property management company provides clear information on their fees, including any hidden or additional charges. Review their contracts thoroughly to understand the terms and conditions of the engagement.
Property Maintenance
Property maintenance is a crucial aspect of managing properties. Inquire about the company’s platform for maintenance, whether they have an established network of reliable vendors, and how they handle emergency repairs.
Talk to us about our competitive property management fees in Perth
Your property management agency will be managing all aspects of one of the largest investments you will make, it is important not to base your decision on just one aspect of the company when there are so many to consider.
Get in touch with our team for effective and factual advice on managing your investment property, or learn more about our approach to property management.
