20 Important Property Management Questions For The Investor
Answer the questions below with either YES, NO, or UNSURE.
QUESTIONS
1. Do I have total peace of mind that my Property is being protected, preserved and properly maintained to the level I expected?
2. Am I achieving maximum returns on my investment?
3. Do I have high quality Tenants?
4. Is my Property maintaining high occupancy rate?
5. Do I receive prompt payment and on time accounting reports?
6. Do I receive regular communication from my current Manager?
7. Are routine inspections conducted every three to four months ?
8. Do I receive a minimum 2 page report following the inspection?
9. Do I have a projected maintenance plan in place?
10. Do I have a Service Guarantee in writing?
11. Is my current Managing Agent a member of the REIQ and also multiple Tenancy Databases?
12. As a Lessor am I complying with the latest Property management legislation?
13. Do I know the current market sales value of my investment?
14. Am I kept informed of the current market conditions for both sales and rentals?
15. Am I regularly updated on further Property investment opportunities?
16. Do I receive a monthly Property newsletter?
17. Do I only hear from my Property Manager when there is a problem?
18. Do I know who owns the Real Estate Agency and is responsible for the Property Manager’s performance?
19. Do I have my Property listed on multiple internet sites to promote to prospective Tenants?
20. Am I supplied with an annual photograph of my Property?
HOW WELL DID YOU SCORE?
If you have answered ‘YES’ to all of the 20 questions, you or your managing Agency must be congratulated on a job well done! If there were some queries or concerns, then it may be time to ask one more question:
Is it time to change the way your Property is managed or do you need to change to a different Property Management Agency?
If you could not say ‘YES’ to each question and wish to discuss your investment Property please contact our Agency for an obligation free consultation on how you can benefit from our service. To make changing your Managing Agent even easier, Cohen Farquharson will take care of matters associated with the transfer for you. Please contact Alana Sorensen on phone 0457 427 856 or email [email protected]
