4 Mistakes to Avoid When Selecting a Property Management Company

You are spoiled for choice when it comes to Property Management companies, with new ones cropping up every day, but this can also make picking the right one confusing and challenging.  

On the surface, they all look similar, but scratch beneath the surface, and you may discover an industry that’s rife with overwhelmingly understaffed offices, inexperienced property managers, and managers that are past burnout point with one of the highest employee turnover rates in Australia.  

The good news is that there are a lot of good agencies out there, too – if you know what to look out for! Here are four of the biggest mistakes to avoid when looking to engage a full-service Property Management company like ours:

1. Choosing the cheapest option or choosing based on management fees alone: While cost is a factor in selecting a property management company, choosing the cheapest option may not always be the best decision. Low fees may be an indication of poor service or lack of experience. Some companies  charge per service instead of an all-inclusive management fee. It is important to understand what services are included in the management fee, which ones are excluded and how much they will cost when factoring in the total cost of management.  

2. Not clarifying responsibilities: Landlords may assume that the property management company will take care of everything related to their rental property when the responsibilities and services offered can vary widely between companies. It's important to clarify what services are included and which are not to avoid misunderstandings and conflicts down the road. 

3. Not asking enough questions to clarify responsibilities: Landlords may assume that the property management company will take care of everything related to their rental property when the responsibilities and services offered can vary widely between companies. It's important to clarify what services are included and which are not to avoid misunderstandings and conflicts down the road.  

4. Many landlords make the mistake of assuming that all property management companies have staff with the same experience and qualifications, but this is only sometimes the case. Landlords should inquire about the qualifications and experience of the team working for the property management company they are considering. This can include asking about their education, professional certifications, and previous work experience in property management or related fields. 

Want to learn more about how we can help manage your rental property? Get in touch to receive more information about our fees and services.