Choosing a property manager is like selecting an accountant or lawyer to manage your business affairs. It’s important to take time to choose the right person or business.

A good property manager will deal with all the difficult issues, understand your individual needs, and optimise the return on your investment. Most good property managers:

• receive rent on their behalf

• review rent annually to make sure it is making the market rate

• finds suitable tenants

• handle maintenance and repairs

• deal with any disputes

• sort any issues at the end of a tenancy.

The property manager becomes the landlord’s agent who looks after their investment.

List of questions when choosing a property manager

When you’re talking to a potential property manager, you may wish to ask them some of these questions to find out more about them.

• Are you a specialised property manager or a real estate agent who also does property management?

• What experience do you have in property management?

• How well do you know the Dunedin market?

• How large is your company? Who will be the person actually managing my properties?

• How many properties does your business manage? How many are currently vacant?

• How long does it normally take to fill a vacancy in the area?

• How do you keep up to date with changes in renting law?

Things to consider

When you’re choosing a property manager, consider these points:

• How close is the property manager’s business to your property?

• Do they present themselves professionally?

• What does their website look like? Is the content consistent with what they say when you meet them?

Setting up the property management agreement

Take time to carefully check and agree on the property manager’s responsibilities. You need to agree on all terms and conditions, and clarify any questions or concerns straight away. This will help to avoid problems later. You should always record your understanding in writing.

When setting up the property management agreement, consider the following:

• What fees do they charge?

• How will they find and choose tenants?

• How will the property be marketed to tenants? Who pays for marketing costs?

• What does their tenant selection process include?

• How do they deal with tenant issues? How do they handle any questions or emergencies outside office hours?

• What do they do when a rent payment is late?

• How will they maintain the property?

• How often will they inspect the property?

• Which kinds of maintenance tasks are handled by the manager in-house? Which tasks require outside contractors? Can they show you a list of preferred service providers for maintenance work?

• What is their process for getting quotes for maintenance and repair work?

• How do they give contractors access to the property during the tenancy?

• What happens when a tenancy ends?

• At the end of the tenancy, how do they manage bond refunds and property inspections?

If you’re choosing a property manager and want ask us these questions (or others) then please click the button below.