What to look for when switching property management agencies.
What to look for when switching property management agencies – with Paige Garvey
Choosing a property management agency… who said it was easy?! I’m here to tell you, it can be.
Switching or choosing agencies doesn’t need to be stressful and overwhelming. It’s simple; when you have an investment property and you have an agent taking care of the day-to-day, you should be satisfied in the managers level of work. If you’re not receiving that service, the grass may actually be greener on the other side.
Here’s why: a property manager has an obligation to take care of your property and communicate effectively on all aspects, no matter how big or small the topic may be. And in a space where there is a lot of white noise, what questions should you be asking the property agency? Does it come down to the appraisal price? (Hint: Definitely not)
I have broken it down so everyone has the best chance to start on the right foot. Whether this is for your first investment property or your 20th, let’s go through the questions on what you should look for when choosing or switching agencies:
- Are their fees a bit too good to believe? Cheap fees isn’t a win in many circumstances. Hear it from me, as a representative of Blackburne, the most common reasons I hear from owners looking at changing agency is that there was no level of service. There are no two ways around it; for the cost of a coffee a week, is the level of service you’re receiving on the lower fee worth it? At least for the cost of a coffee you’re receiving responses to your emails!
- What portfolio number is each manager sitting at? This is quick and easy insight into what level of service you are going to receive. If the property manager is expected to complete all aspects of managing your property (i.e. attending home opens, etc.) and they have a portfolio of 150, do you think they have the time to manage your property? Likely not. It’s good insight into when you should plan for a response: in an hour or a week?
- What types of properties is the agency listing? Are they run down in the middle of no-where? Maybe reconsider for your house in Scarborough.
- What do their adverts look like and what types of photos are they using? Hint: if their website consists of iPhone 3 quality photos and the house looks dark and gloomy, run a mile, your property will not be leased quickly, or it will be very much under market value.
- What is the process for the property condition report? If they are 4 pages long, this is a good indication into how the agency manages everything else… with no real care. This is the MOST important document as this saves a lot of headaches at the end of the tenancy. They should be outsourced, or at least have a dedicated person completing this report and taking the most possible number of photos to completely protect you as the owner from being left with nothing but a damaged property.
Hitting home yet? You’re not alone. We are seeing an increased number of new clients coming over from other agencies. This is may be one of your biggest assets, you should be with an agent that treats it as that. Busting to know how you can get someone that ticks all the boxes? Let’s go through a few more dot points.
How can you switch agencies?
- To be corny, it’s actually really easy. All you have to do is email me (firstname.lastname@example.org) and say “I would like to switch agencies”. I will send you the paperwork, you sign, and I’ll handle the break-up for you. I will send a pain-free email advising your current agent and then pop in and collect the file on your behalf. Did you know you can switch agents while you still have a tenant? This might actually save your good tenant staying in the property, saving you money on a letting fee.
- We make the process seamless. I will be with you every step of the way, and introduce you to your property manager (yes, plural: you will have one dedicated property manager).
- We also represent furnished properties (and we don’t charge for it!). If furnished is the option you would like to take, we will do everything to protect your contents.
So, why choose Blackburne?
- We have a 7-day leasing team: you will come to appreciate this as one of the biggest highlights. Loren and Adam are gun salespeople, leading to a quick leasing time and achieving the best possible rent for property. Property managers aren’t salespeople, that’s why Blackburne go through the extra step to have agents that use this specialty in property management. Salespeople don’t just sell houses! They lease them too.
- We guarantee our service. You WILL receive an email back or returned phone call (if missed the first time) within the same (business) day. There is an emergency after-hours phone also, protecting both tenant and owner. Our agents are in the office for most of the day, monitoring work orders, responding to yours and the tenant’s queries, and so forth.
- We know it’s not always about the owner, so we share the love to your tenants too. It’s absolutely important to keep a high relationship with the tenants, because at the end of the day, you want the tenant to stay as long as possible. If they are moving out because of the agent, that is not the level of service you want in your portfolio.
Want some more insight and evidence so you can be 100% confident with your move? Have a look at our humble Google reviews here. How many other agencies can say that they are sitting at 4.9-star rating, from over 100 Google reviews? Just another question that you should be asking.
We very much look forward to welcoming you to the Blackburne Property Management Family. We pride ourselves on our unique and successful process of management, as briefly highlighted above. I will be happy to make a time for us to sit down and we can further discuss this and much more details of services we offer at Blackburne.
Experience The Blackburne Difference. Call us today for a confidential chat.
0497 977 738