What Does a Property Manager Actually Do? A Complete Guide for New Landlords

If you are renting out your Hills District property for the first time, you may be wondering whether you need a property manager and if so, what exactly they do for their fee. ## Setting the Right Rent The first and most important task a property manager performs is setting the correct rent price. This requires a detailed analysis of comparable properties currently listed and recently leased in your specific suburb, the condition and presentation of your property, and current market demand and seasonal trends. ## Marketing and Leasing Once the rent is set, your property manager will prepare a professional marketing campaign including high-quality photography, a compelling listing description, and advertising on major platforms including realestate.com.au and domain.com.au. ## Tenant Screening This is where a professional property manager earns their fee. A thorough screening process includes a comprehensive credit check through a national tenancy database, rental history verification with previous landlords, employment and income verification, and personal reference checks. ## Lease Preparation and Bond Lodgement Your property manager will prepare a legally compliant lease agreement, collect the bond (typically four weeks' rent), and lodge it with NSW Fair Trading within the required 10 business days. ## Rent Collection and Financial Management Your property manager collects rent on your behalf, monitors arrears daily, and disburses your rental income to your nominated account, typically monthly, along with a detailed financial statement. ## Routine Inspections Your property manager conducts routine inspections every three to four months, providing you with a detailed report and photographs. ## What Does It Cost? Property management fees in the Hills District typically range from 5% to 8.8% of gross rent. At New Vision Real Estate, our management fee is 5% - one of the most competitive in the Hills District - with no hidden charges. To discuss your property and receive a free rental appraisal, call us on 02 9160 6475.