Seven Essential Tips for Finding a Great Property Manager - Coral Sea Property Management

Blog

Seven Essential Tips for Finding a Great Property Manager
How to find a great property manager in Townsville

How to find a Townsville Property Manager

Selecting a property manager to look after your Townsville investment property can make the difference between a good and bad experience as a landlord. 

Whether you’re investing in your tenth Townsville rental property or your first rental property, the search for a great property manager requires due diligence and the discipline to get into the nitty-gritty of the kinds of decisions you want your property manager to handle on your behalf and when you want to be consulted.

A critical question for many investors therefore is “what am I looking for in a property manager?”

Are you seeking a hands-off approach, or do you anticipate getting involved at some level?

Do you want to know what’s going on all the time, or are you prepared to let a manager take care of business and update you as necessary? Perhaps, if you’re investing in an apartment, you’re going to be an active member of the strata committee.

Successful Townsville investors look at the task through a specific prism: the property is a business, it exists to make money, and a property manager is hired to make that happen.

Below are some of the significant issues you should address when searching for a real estate agent. Let us know if we can introduce you to our property management colleagues.

 

1.  Good communication = Good Property Management –

This is a critical factor in a successful relationship between rental providers/landlords and their property manager. You want your property manager to be easy to contact and clear with any issue that might arise. Experience in dealing with strata committees can be a significant plus.

2. The focus should be on you –

Let’s dig a little deeper. The property management team’s style of customer service is critical. Ideally, you want to work with an agency that provides specialised property management and isn’t just a sales agency. Ideally, look for agencies with high staff retention as there is nothing more frustrating than having a new property manager every few months.

3. Rely on real estate experts –

A good manager will know the state legislation, and you may get additional comfort from them being a member of the Real Estate Institute. ****Great managers keep abreast of local market conditions. They’ll know how to replace tenants quickly and choose reliable ones, and they’ll keep you up to date with changes in the rental environment (legislation, market, etc.)

4. Don’t focus on fees only –

Fees are only part of the story. Smart landlords consider this a factor but weigh up other facets of property management, too. Some property management teams will offer to take out all of your expenses from your rent and pay you the difference, while others will pay you all your rent and then request that you pay for utilities, repairs and maintenance.

5. Not all fee structures are the same –

It can be challenging to separate agencies and property management companies by comparing fees. Fees can vary between 7% up to 15%. Know what’s included and uncover any omissions that could cost you down the track. Get into the detail. At Coral Sea Property Management we offer a flat rate fee structure as we recognise that the level of work required to manage a property is similar regardless of the value of your rental. Ask us about our Fab$50

6. Digital transparency –

If this is important to you, seek out a company that offers an online portal where you can track rental payments, tenant requests and complaints, maintenance expenses and legal documents, rather than relying on monthly or quarterly reports from your property manager.

7. Consider online reviews –

Online reviews are an excellent way to to understand the experience of other property owners and tenants that interact with the agency. It is especially important to look at the agency responses to reviews both positive and negative as they give you insight into how they operate. Your perfectly optimized content goes here!

A little about Townsville

Townsville is in far northern Queensland. Melbourne was established in 1864. This is 29 years after Melbourne established. Over 50,000 American and Australian troops and their pilots were based from Townsville during World War Two. It is anticipated that the nearby training will be the preferred site for the allied troops training by 2030. Castle Hill is a giant granite monolith situated in the centre of the city. It is an architectural and historical monument. The whole city is both a modern business centre and scenic tourist destination. Townsville has over 300 days of sunshine a year and the average temperature in this part of the North remains at 28 degrees.

 

Strength in mining

Townsville is one of the few cities to be able to refine zinc, copper and nickel. There is also plans on having a significant lithium-ion battery manufacturing facility in the region. The increasing presence of the Defence Force – which has substantially contributed to the growth and development of the borough’s infrastructures and economic activity – has made Townsville an attractive place in support to micro, region and national governments. The port of Townsville could expand as part of the $1.6 billion Port Expansion Project which was scheduled to be completed by 2040. Townsville has the biggest commercial port in Northern Australia handling over 4.5 million tonnes of cargo each year.

Defence Growth

Townsville is the largest Australian army base. There is also a RAAF base on Townsville Airport. The government today agreed to an Army-based regional training programme with Singapore worth nearly 2.5 billion over 25 years. This new training plan could encourage local workers to work and grow their economic position. Townsville has multiple major public assets, these include the headquarters of the Australian Institute of Marine Science and the Great Barrier Reef Marine Park Authority. It home of two universities James Cook University and Central Queensland University. Townsville also had a massive Marine Park Authority which included the Great Barrier Reef.

What is the rental market like in Townsville?

In Townsville its vacancy rate climbed to its second-lowest level in a decade at 0.7%, far below the state average. . There will be many instances when homes have found at least $500 extra an annual for renting. For investors low vacancies mean one thing… less competition and bigger profit. Townsville sees expansion with property investment as the area continues to witness growth in the North of Queensland.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *