Owning an investment property in Perth can be a fantastic way to build wealth, but finding the right property manager is key to making the process smooth and stress-free. A good property manager can save you time, money, and headaches, while a poor one might leave you wishing you’d handled it yourself.
To make sure you’re putting your property in the right hands, here are 10 important questions every Perth property owner should ask their property manager. These questions will help you gauge their expertise, professionalism, and whether they’re the right fit for your needs.
1. What Services Do You Provide?
Not all property managers offer the same level of service. Some might only handle basic rent collection, while others offer a full suite of services, including tenant placement, inspections, maintenance, and even advice on legal matters.
Be sure to ask for a detailed list of what they provide. For example: Will they handle emergency repairs? Do they organise regular inspections? A clear understanding of their services will help you avoid surprises down the track.
2. How Do You Screen Tenants?
One of the most critical jobs of a property manager is finding reliable tenants. A thorough screening process can save you from late rent payments, property damage, or disputes.
Ask them about their process. Do they check rental history, employment, and references? Do they run background checks? A good property manager will be thorough in vetting tenants to ensure your property is looked after.
3. How Do You Handle Rent Collection?
Timely rent payments are the backbone of your investment. A property manager should have a system in place to collect rent efficiently and address late payments promptly.
Find out how they collect rent (e.g., automated systems or manual processes) and what they do if a tenant falls behind. A clear and proactive approach to rent collection can protect your cash flow.
4. What Is Your Vacancy Rate?
Vacancy rates can be a good indicator of how well a property manager is performing. If their properties are sitting empty for long periods, it could suggest issues with their marketing or tenant retention.
Ask them for their current vacancy rate and how it compares to the Perth market average. A low vacancy rate often means they’re effective at finding tenants quickly and keeping them happy.
5. How Do You Market Properties?
In Perth’s competitive rental market, effective marketing is essential to attract quality tenants quickly. A good property manager should use a range of strategies to showcase your property.
Ask about their approach. Do they use high-quality photos, online listings, and social media? Do they have a database of prospective tenants? Strong marketing ensures your property gets the exposure it needs.
6. How Do You Manage Maintenance and Repairs?
Maintenance can be one of the most time-consuming aspects of owning a rental property. A good property manager should take this off your plate by organising repairs and liaising with tradespeople.
Ask them about their process. Do they have a trusted network of licensed contractors? How quickly do they respond to tenant repair requests? Also, find out how they handle emergency repairs outside of business hours. Prompt maintenance protects your property and keeps tenants satisfied.
7. How Often Do You Conduct Inspections, and What Do They Cover?
Routine inspections are a vital part of property management. They ensure your property is being looked after and help identify small issues before they become big (and costly) problems.
Ask how often inspections are carried out and what they involve. For instance, do they check for damage, cleanliness, and adherence to the lease? A property manager who prioritises regular, thorough inspections shows they’re serious about protecting your investment.
8. What Fees Do You Charge?
Understanding the fees a property manager charges is important to ensure their services fit your budget. Common fees include management fees (a percentage of the rent), leasing fees, and advertising costs.
Ask for a full breakdown of their fees and compare them to other property managers in Perth. While it’s tempting to choose the cheapest option, remember that you often get what you pay for. A higher fee might be worth it if it means better service and fewer headaches.
9. How Do You Stay Compliant with WA Rental Laws?
Western Australia has specific laws governing rental properties, including the Residential Tenancies Act. Staying compliant with these regulations is crucial to avoid legal trouble.
Ask how they keep up with changes to WA rental laws and whether they provide advice on compliance. A knowledgeable property manager will ensure your property is managed according to the latest requirements, giving you peace of mind.
10. How Do You Communicate with Property Owners?
Good communication is essential for a successful relationship with your property manager. You should feel confident that they’ll keep you informed about important matters without flooding you with unnecessary updates.
Ask how they’ll communicate with you. Will they send you regular reports? Do they prefer emails, phone calls, or an online portal? A property manager who communicates clearly and promptly will make your experience much smoother.
Why Asking the Right Questions Matters
Choosing the right property manager can make all the difference in your property investment journey. By asking these questions, you’ll gain a better understanding of their processes, expertise, and whether they’re a good match for your needs.
At Vivid Property Perth, we believe every property owner deserves exceptional service. Our team is dedicated to making property ownership stress-free by providing comprehensive property management services tailored to the Perth market.
