LJ Hooker

A Seasoned Property Investor’s Guide to Maximise Returns p. 47 Evaluating Your Current Property Manager 07 If not, then it may be time to find another property manager. LJ Hooker has an excellent track record of ensuring rent is received in full and on time, as we know how important this is to our clients. Poor maintenance performance As a starting point, if your property manager is failing to address maintenance requirements as detailed in your rental agreement, or if the property is not maintained to ensure a safe and healthy environment, your tenants may have the right to break the lease without penalty, leaving you out of pocket and in search of new tenants. Secondly if they fail to address urgent maintenance issues as directed by yourself, you could lose thousands of dollars in repair costs because of their lack of action. Limited service offering Some property management companies provide a limited range of services and, while they may then also charge less, this isn’t the best service model. Some management companies only manage rental payments and certain maintenance tasks and leave the advertising, tenant screening, inspections and rental appraisals up to the landlord. Best-of-breed property management includes the full list of responsibilities detailed above and, considering their expenses are often tax deductible, if your current property manager isn’t providing these services it may be time to make a switch.