LJ Hooker

A Seasoned Property Investor’s Guide to Maximise Returns p. 46 Evaluating Your Current Property Manager 07 While it is always good to have a property manager committed to ensuring you get sufficient recompense for any damage that has been sustained while a tenant has been living in your property, there are two dangers to having a ‘bond- happy’ property manager: 1. You run the risk of a bond being unjustly kept by the agent, which could result in tribunal or legal action by the tenant 2. Your property could gain a reputation for people not receiving their bond back, which could impact future rental vacancy times. Do they conduct an annual rental review? As you likely know, markets can fluctuate greatly over a 12-month period, and ensuring you’re charging the right rent is important. Consider whether your property manager is being proactive, and conducting annual rental reviews and proposing rent adjustments where appropriate. Is your rent received on time? Good property managers work to ensure your tenants pay their rent on time. Consistent rent collection directly affects your cash flow, and in most cases loan repayments. Is your current property manager effectively managing this each month? Are they enforcing lease policies if payments aren’t received?