Landlords: Adelaide Property managers come in different shapes and sizes. Just as you research other aspects of investing in property, you should look carefully at the different types of managers out there and which one is right for you and your property.
Some selling agents also manage properties on the side, and other property managers specialise in rentals, allowing them to focus completely on your property.
Here are 4 tips to landlords on the hunt for the right property manager in Adelaide:
Your property manager must have experience with the business of managing properties because it’s an intricate area that needs the relevant industry expertise in order to maximise your occupancy rates and rental returns. Despite the industry's high employee turnover rate, this shouldn't be something you compromise - you wouldn't trust a Ferrari to an 18 year old, so why take the risk of trusting your precious investment to a young, inexperienced manager? At Steadfast the average age of our employees has never dropped below 45 years old and many of our managers own one or more investment properties personally so you know they have the experience and care to look after yours.
The Adelaide real estate industry may sit just above the average used car salesman in terms of reputation however don't let this stop you on your search for honest, truthful and integral property managers who will put your property first! Every property manager will dress to impress and give you a polished spiel from day one, but not every property manager will work hard and fast to care for your property as if it was their own. Ideally, a property manager working with integrity will act as a peaceful mediator between landlord and tenant when necessary, notifying you as the landlord of any maintenance issues in a timely manner, and communicating with a kind and honest tone at all times.
South Australian property regulations are constantly being modified and updated, and as a landlord you may be on the wrong side of the law without even knowing it! It's so important to make sure that your property manager is a qualified REISA member, keeping up to date with local property groups like SAPMC, and well-versed on the legislative changes that have taken place over the past 5 years. The prestigious and well-earned REISA awards for excellence medals are a good indicator of respected companies on the South Australian property manager scene. Here at Steadfast our Principal Mark Leslie is on the REISA property management committee assisting the entire South Australian Property Management industry!
Although still beneficial, the old mindset of preferring a property manager that lives down the street is starting to be crushed by the convincing weight of technology and the convenience of the internet. Don't be fooled by our love for technology here at Steadfast, we still love living in the local metropolitan suburbs of Adelaide and it's beautiful streets! Rather than appoint a property manager that has an office within 5kms, we recommend appointing a property manager that knows the area well, whether they live there or work there. Having an agency that is large (managing houses across the state) and that has multiple locations across Adelaide (not franchises but owner-operated) such as Steadfast (located in Paradise in the North-Eastern suburbs of Adelaide as well as Tonsley serving the South coast) will likely serve you better as a landlord.
There is no perfect property manager in Adelaide but there is a perfect property manager for you!