Recently we’ve been looking at the 14 Fundamentals Of Effective Property Management with Changing Places CEO and Founder, Cameron Fisher.

Last week we looked at Routine Inspections – look for the red flags, this week we discuss Communication – ‘no news’ is not always good news.

It is really important to communicate with your property manager, so that you develop a good rapport and know that you can trust them, because I can tell you that there are a lot of agents who will just tell you anything to get rid of a problem or cover up their incompetence. It really is important that you have full faith and trust in the Real Estate Agency and the property manager that is handling your property investment.

Don’t be afraid to speak up, ask questions, such as, when was the last time you did a routine inspection? When rent is running late, ask, what is being done to make sure it comes in on time? We look out for potential issues and if we know a tenant has a poor payment history, we should be right on to them the first day they are late, to make sure that the rent comes in as quickly as possible.

Related Article: Maintenance – the right advice at the right time

It is also important for a landlord not to ‘shoot the messenger’. Sometimes a property manager must relay ‘bad news’ such as major maintenance issues, a tenant skipping a property and a poor turn out at a property inspection. Sometimes things don’t go your way, even though the property manager may have done everything humanly possible to prevent such an event. A great property manager always has your best interests at heart and you need to see that. If a property manager recommends a rent reduction because of a change in market conditions and you don’t follow the recommendation, it is then unfair to blame the property manager for an extended vacancy period.

So always make sure that you are communicating with your property manager. We want your input as well. An issue or a problem is best addressed as soon as possible to prevent it getting out of hand.

Owning properties does require some effort on your behalf if you wish to get the highest possible returns and to make your property ownership a rewarding and pleasurable experience.

Click here for more information on property management or call 1300 130 998.

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