Owning plenty of properties for rent, either near or far from each other, is a big challenge because it’s not easy to manage and oversee everything. That’s why in most cases, the owners hire professional help so they could concentrate on the most important tasks and leave everything else in the hands of their chosen property manager.
Looking for a Manager
When looking for the best property manager in Townsville you can hire, you have to take your time to meticulously assess the candidates. Ask for referrals from your connections, check the web for more information about them, conduct a face-to-face interview to evaluate their skills and knowledge, and request for character references.
Responsibilities of a Manager
When conducting the face-to-face interview, you need to ask them about what their knowledge and experience in managing residential properties. They must know the following, which are the basic and most important tasks of a property manager:
- Arranging necessary repairs
- Taking calls from tenants
- Collecting the monthly rent
- Sending out eviction notices and organizing evictions
- Looking for potential new tenants
- Inspection of properties and units regularly
- Reporting to you constantly about tenant concerns and other issues
- Requesting your approval for bigger decisions which involve higher expenses
Collaborating with the Manager
Even with a hired manager, you still need to oversee some things and collaborate with your chosen manager to maintain your properties and check your profit. Your main responsibility is taking care of the properties’ taxes, insurance payments, and mortgage dues. Even if the manager is responsible for the repair and maintenance needs of your properties, you still need to see the financial reports to know if the revenue outweighs the expenses. It’s your job to keep an eye on your manager to make sure everything is done right.
Hiring a property manager is important if you can’t handle managing all of your properties on your own. Just make sure to hire the best one for your peace of mind.