When you’re choosing a property manager for your investment property, a specialised company that only offers property management offers dedicated service and expertise that a real estate agency just can’t match.
Owning an investment property is a big financial commitment, and finding the right property manager is essential to maximising your rental return. Many real estate agencies offer management services, and if you bought your property through one, it might seem like a good idea to hand over the running of that property to the same company.
But if you’re serious about your investment, a specialist property management company is actually a safer bet. Here’s why…
1. You’ll get better service
At a larger agency, the main focus is often the lucrative sales arm. That’s usually where the big money is, and entry-level rental staff might approach their position as just a stepping stone to a career in sales. At a specialist property management agency, the entire staff is focused on one thing only: rentals.
That means you and your investment property are the top priority, so managers will be proactive about boosting your rental return, delivering expert advice, and fostering a long-term working relationship.
2. Your tenants will get better service
Property sales is a transactional business: a real estate salesperson makes the sale and moves onto the next one. Property management is relational: once a property manager wins the business, they need to keep it year after year. A boutique agency such as Rentwest focuses on high-quality service to turn both landlords and tenants into long-term customers.
For example, our managers meet new tenants at a property to greet them, make sure everything is clean and working, and present them with a welcome gift along with the keys. As a result, 96% of surveyed Rentwest tenants said they would recommend the company.
3. They offer consistency
A real estate agency is impacted by the ups and downs of the property market, which may lead to more staff turnover at certain times, and inconsistency in the level of service. A property management firm can be more sheltered from the volatile real estate market, and this stability allows it to attract long-term, quality staff. This, in turn, leads to more consistent service for property owners, who can look forward to working with the same dedicated manager for many years.
4. They know the market inside out
A good agent should be an expert in the rental market with specialised knowledge of the local areas they cover. For instance, at Rentwest each manager has a portfolio of properties in the area in which they live and know intimately.
As a result, they are always nearby and have a thorough knowledge of the local market. They will know what tenants are looking for, which home-improvements to make, what the competition is like, and most importantly when to increase the rent.
5. They’re experts in what they do
By focusing on doing one thing, a specialist learns to do it really well, and that principle applies to any industry. A property management firm such as Rentwest has the knowledge, experience and skills needed to maximise your investment. For many owners, an investment property is their biggest asset, and they feel better knowing that it’s in expert hands.
Tired of the same old property management from a traditional real estate office? Learn what you can expect with the team at Rentwest >