What is property management?

What is property management?

Short Answer: A property manager looks over your property whether thats residential, commercial and/or industrial real estate.

After purchasing your investment property, the next key decision you will need to make is whether you will employ a property manager to help you, or whether you’ll manage it yourself.

Although many investors are financially-savvy, when it comes to finding tenants, dealing with day-to-day property issues or legal jargon they are left in the dark.  LJ Hooker’s team of experienced property managers can help make sure you receive a reliable income stream, excellent capital growth and the best returns possible – as well as a guarantee of exceptional customer service.

The process of managing property that is available for lease by maintaining and handling all the day-to-day activities that are centered around the piece of real estate. Property management may involve seeking out tenants to occupy the space, collecting monthly rental payment, maintaining the property, and upkeep of the grounds. Apartment complexes are handled by some type of property management company.

ow do you find that special person – a good property manager. 

Property expert John McGrath says landlords should interview at least three property managers before making a choice – and price shouldn’t be the main criteria.

“You want the best one, not the cheapest one,” McGrath says. “Make your selection based on who you think is going to give the best service.”

Melbourne-based property manager Kim Wilson, of the Barry Plant Knox Rental Centre, recommends landlords hold face-to-face meetings with managers.

“The main thing is to trust your instincts when you meet the people who are going to be managing your property,” says Wilson.

“If you don’t like them from talking to them, don’t go with them just because they’re cheaper.  For an investment, usually of at least half a million dollars, you should be picking the person who you feel is the most professional agent to manage the property.”

You can also use an airbnb management company to help manage your property in Sydney.