Expect the best from your property manager.
Stockdale & Leggo agents are often surprised by the stories they hear about poor property management: properties not being inspected for years on end; maintenance and repair requests ignored; damage being overlooked at end-of-tenancy inspections; high levels of arrears, and so on.
A complacent approach to property management should not be tolerated. Investors, too, cannot afford to be complacent about it given the value and importance of their asset! The investment industry is a well-regulated one, one in which landlords’ – and indeed tenants’ – rights are well-documented and should be respected.
You should expect the highest level of service and professional standards from your property management agency.
They should, at the very minimum: be knowledgeable about rental laws and related matters; provide a detailed condition report on commencement and termination of the tenancy, and conduct regular property inspections; be familiar with lease structures with built-in growth opportunities and conduct regular rent reviews; adhere to a no-nonsense arrears policy; and promptly attend to maintenance and repair matters, advising you throughout. They should value your property as much as you do!
Did You Know? It is legal, and simple, to transfer property management to another agency while a tenancy is in place. The new agency will manage the process for you, including advising existing tenants of the new arrangements.