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While most property investors spend a huge amount of effort and energy finding the right property to purchase, they rarely spend the time looking for a good property manager. This is asking for trouble! A good property manager is like an insurance policy on your investment. The main criteria most landlords use to select their managing agency is price alone. This is very short sighted. As the old saying goes ‘you get what you pay for’. A cheap rental real estate agency will typically be operated by over worked staff trying to manage hundred of properties, constantly chasing their tail to keep up with the basics. A dedicated property management agency will ensure that your investment property is thoroughly managed. Your property should receive a higher level of service; more time spent on tenant selection, market research and scheduled inspections. This will ensure that your property is looked after, leased to the most appropriate tenants and achieved the highest rental yield possible.

Some property owners even try to manage their property themselves assuming that property management is simply collecting rent. Property manager’s job is much more than this. A good property manager should:

-          Understand the current local real estate market, market forces and how to market your property effectively.

-          Price the rent on your property at the right level to quickly rent out investment.

-          Perform thorough tenant checks and background checks.

-          Write up a comprehensive lease to protect the landlord.

-          Lodge a bond on behalf of the landlord, to the authorities.

-          Handle all repairs on the property, using only qualified tradesmen.

-          Pay insurances, council rates and outgoing on behalf of the property owner.

-          Keep up to date on complex and constantly changing legal issues.

Below is a list of 10 questions you should ask your property management agency before signing up for their services.

Is the real estate agency a specialised property management firm? Many real estate agencies offer property management as an after thought to the sales team. Property managers are seen as unimportant and are often overworked, looking after much too many properties badly instead of a smaller number effectively. Does the agency have local real estate knowledge and experience? Local rental market knowledge is critical in achieving the lowest vacancy rates and achieving the maximum rental price. Will I receive regular updates on my property? A good property management agency should keep the landlord well informed about their investment at all stages of the leasing process. Will I be assigned one dedicated property manager to deal with? Make sure that you are assigned only one property manager to deal with so that you can achieve an open and communicative relationship. Will my property manager attend court on my behalf? Your rental property manager should manage all aspects of your rental property, including attending court on your behalf if need be. How many properties do your property managers manage? Some mainstream agencies assign up to 300 properties to their property managers. This is much too many for an effective job to be done. Regular inspections, negotiating the best rent, keeping up to date with the property market all take a lot of time and energy. At most we suggest that 100 is the maximum properties a rental agent can effectively manage. Does your agency make regular rental increases on your property? A good property manager should be informed about the rental market and understand what the optimum rent achievable is for your house, unit or apartment. Is the managing director/rental agency owner involved in the property management agency on a day-to-day basis? A well-run rental real estate agency should have the director highly involved in the day to day running of the business. Do you do thorough checks on potential tenants to avoid my house/unit being rented out to bad tenants? All investment property owners should be informed about all lease applicants and their background before deciding on who are the best tenants to lease their property too. Is your agency up to date with the latest Internet advertising media? With all sort of social media around now days, it wpould be waste not to take advantage of these advertising avenues. Make sure your agent is maximising your properties exposure, therefore minimising your vacancy rates.

Just Rent Sydney would answer yes to all of the above!

Just Rent Sydney can handle the transfer of your rental property from your current real estate agency over to us without you having to be involved, making the transition seamless and easy.

Make the smart move.

If you are considering the possibility of buying or renting property in Playa del Carmen, you should know that there are many different Playa del Carmen Real Estate web sites out there that allow you to view more than one property at a time. This is a great arrangement because it does not limit you to the properties that are listed by just one Real Estate agent or company, but instead allows you to see properties from all over Mexico . The way this works is that these Real Estate web sites have agreements with property owners in which they are paid a commission in the event that they find someone to rent or buy a Property in Playa del Carmen or anywhere else in Mexico . As with any type of industry, there are some agents in this industry who are really honest and good at what they do, and there are some agents who do not follow ethical business practices.

The biggest problem for someone who is considering whether to go through with buying or renting a Property in Playa del Carmen, is that they usually find that they have a difficult time figuring out which agents are good and honest. Choosing the wrong agent to help you with buying or renting Real Estate in Playa del Carmen can be a very costly mistake, so this can be very scary for a person who is interested in buying or renting property in Playa del Carmen. Dishonest agents are also very bad for the rental agents out there who are professional and honest because it gives the industry a bad reputation, and therefore should always be reported to the local authorities. Try to get references of long serving and ethical real estate agents from your friends, colleagues, relatives and lawyers familiar with area. You should always keep in mind that this is not typically a problem when you are dealing with the hotel industry, because there are so many places that people are very familiar with, which forces agents to be more honest. However, this type of familiarity does not exist in the vacation home rental or buying business because there are so many places out there for rent and for sale that they are owned by thousands of different people.

So the next time you are scouting for best property in Playa del Carmen for investment or leisure, double check if the real estate agent has a good reputation in Playa del Carmen.

Author: Tom Budniak

In Southern California, especially Orange County property management is an important aspect of investing in real estate. The profitability of your property is dependent on hiring a qualified helpful and professional property management company.

Hiring the wrong management company can mean losing thousand of dollars, or more. Property owners who hire the right OC property management company however, can enjoy the benefits of a lucrative property investment.

Some of the most common, and often, detrimental mistakes a property owner makes is not doing enough research. The more research you do, the more you can avoid hiring a bad management company.

Property management companies that also sell properties, often nation wide corporations like Century 21, etc. are often a bad idea. They usually are primarily real estate agents, who also do property management because they want to manage when you choose the sell the property. A property management company like this is not a good idea because they make more money selling than managing. You would benefit more from a smaller, specialized company that deals only with property management in your area and nothing else. For example, if your property is in Huntington Beach, you should try to find a local expert Orange County property management company that has a much experience in the local area only.

Make sure you check the references of your management company’s other clients. Don’t be afraid to make a few phone calls, and get a good track record. You shouldn’t sign anything before you have a good idea that the company you’re hiring is the best at property management in Orange County and one that you can trust. On the other hand, as an owner, you shouldn’t be too demanding of references either. A good property management company will not release all of their clients’ information to you, because it is private and confidential information. The management company won’t be making an obscene amount of money managing your property, so they can always tell you to take your business elsewhere if you are being too much of a pain. You will do well with around 3 references to talk to, and get an idea of how they work with their clients.

Some other things to keep in mind: Is the company licensed in the state of California? Is the company insured? Do they have a fidelity bond to protect you in case an employee mishandles your money? Will they provide you with reports? Will they market your property? How do they deal with late charges? How do they handle tenant complaints? And so on. These are some tips for making sure you hire a good property management company that will professionally and efficiently manage your property, helping you turn your home/apartment/condo/commercial property into a steady investment.

Disclaimer: This blog or article is for information purpose only, and should not be treated a professional advise or price protection guarantee. This blog is mainly used for search engine optimization and other commercial purposes and it is advised that readers seek professional consultation in the field of interest for more information.