From irregular inspection reports to rental arrears and payment discrepancies, there are a number of signs that you’ve been lumped with a bad property manager.
Five Signs You Have a Bad Property Manager
1. Inexperienced Staff
Having an agency where the senior staff is involved in the day-to-day business is a big win.
Whether it is a routine inspection, ingoing/outgoing condition report or open for inspection, the senior management should also be inspecting the property.
More signs included an agency that only worked from 9 am to 5 pm or one that shied away from telling their landlord clients the truth.
2. Not Truthful About Market, Tenancy, and Maintenance
One of the main roles of a property management company is to give you the cold hard truth on the current market, maintenance, and the tenancy.
Sometimes you don’t want to hear it but that’s what a good company will do – keep you informed and in the loop.
Bees Nees City Realty general manager Clint Dowdell-Smith said irregular inspection reports were a sign that a property manager didn’t see value in completing this important task.
3. Irregular Property Inspections
Property inspections are one of the ‘too busy’ property manager may not make time to do. They might wait to be asked by their landlords, then rush off to get it done, he said.
Good property managers have a diary with routine inspections booked in geographic runs well ahead of time. They know what’s needed and just get it done.
Other issues could be using on site building managers who may not have the necessary property management skills and experience, he said.
4. Rental Payment Discrepancies
Another concerning sign of a bad property manager was common errors or discrepancies with rental payments to landlords.
Trust accounting, like all record-keeping, is a precise science and nothing can be left to chance, Dowdell-Smith said.
The best property management offices have a specialist team member who carries out these tasks, with an eagle-eye for detail. You need to be able to relax and know you’re receiving every dollar you’re entitled to.
5. Charging Additional Fees
Another sign, according to Solano, was agencies that charged extra for services that should be included with a landlord’s management fees.
This included charging additional fees for routine inspections and installing “for lease” signs at the property.
Hot Property Management co-owner and office manager Maddyson Solano said one of the most obvious signs was that the agency only had staff with minimal experience.
To chat with Maddyson about your property management needs call 07) 3170 3760 or email firstname.lastname@example.org