How to Choose the Right Property Manager in the Hills District

Choosing the right property manager is one of the most important decisions you will make as a property investor. The wrong choice can cost you thousands in lost rent, vacancy, and maintenance issues. ## 1. How Many Properties Do You Currently Manage? A property manager's portfolio size matters. Industry best practice suggests no more than 150 properties per manager. ## 2. What Is Your Average Vacancy Rate? Vacancy is the enemy of rental returns. Ask for the agency's average vacancy rate and compare it to the Hills District average of approximately 1.3-1.5%. ## 3. How Do You Screen Tenants? A thorough screening process should include a comprehensive credit check, rental history verification with previous landlords, employment and income verification, and personal reference checks. ## 4. How Do You Handle Maintenance? Ask how the agency handles maintenance requests - do they have a panel of trusted, licensed trades? What is their threshold for approving repairs without landlord approval? ## 5. How Often Do You Conduct Inspections? Industry standard is every three to four months. Ask whether inspection reports include photographs. ## 6. What Are Your Fees - and What Do They Include? Management fees in the Hills District typically range from 5% to 8.8% of gross rent. Ask for a full schedule of fees including letting fees, lease renewal fees, and inspection fees. ## 7. How Do You Communicate with Landlords? Ask how they prefer to communicate, how quickly they respond to queries, and whether you will have a dedicated point of contact. At New Vision Real Estate, we are happy to answer all of these questions. Call us on 02 9160 6475.