Property Management

Property Management

A property manager runs the day-to-day operations of your investment property and all of the things that you are not able to physically manage from Australia. They have more involvement with your property than anyone else and you will rely on them to ensure a solid return on your investment. It goes without saying that you need the best property manager you can find.

A property manager is responsible for the ongoing management and maintenance of your investment property. This includes, but is not limited to:

  • Finding and vetting tenants
  • Maintenance and repairs
  • Tenant requests
  • Capital improvements
  • Collecting monthly rent and depositing it into your bank account
  • Monthly/quarterly/yearly property inspections
  • Tenant evictions

How much does property management cost?

Typically property managers charge a monthly fee of 10% of the monthly rental income. This may drop as low as 5% and stretch as high as 15% depending on the area and the services provided by the property manager. In addition many property managers charge an initiation fee, which is typically around half a month’s rent. There may be additional fees for replacing a tenant, or they may be expected to be reimbursed for advertising costs while finding a tenant. It’s very important when interviewing a prospective property manager that you obtain a very detailed breakdown of their fee structure. If something is unclear then ask for clarification, if you want something changed you are well within your rights to make that request too.

How do you find a good property manager?

The quality of different property managers in the US varies significantly. Even within the same organization there can be fantastic property managers and terrible ones. When they are such an important component of your investment how do you ensure you’re getting a great one? The short answer is that it can be tough. But you can take a number of steps to reduce the risk of getting a bad one, and increasing the likelihood of getting a good one.

  • Sign up with American Properties to gain access to our network of qualified professional partners
  • Seek referrals from friends and other investors
  • Obtain references
  • Conduct a thorough interview and vetting process.

How do you spot a bad property manager?

There is no way to tell for certain if someone will be a poor property manager. Someone can appear great on paper, interview well, and then perform horribly. However, there are a few things you can look out for to reduce the risk of ending up with a dud:

  • Unable to unwilling to provide references
  • Unwilling to take the proper time to interview with you
  • Unprofessional or inattentive during interviews
  • They employ high-pressure sales tactics
  • Excessive fee structure
  • Unresponsive to emails/phone calls
  • Unavailable during Australian contact hours

How can American Properties help?

As an American Properties member we can connect you with the best property managers in the business.  Through our local knowledge and extensive due diligence we have sought out high quality property managers in all of the cities and states we recommend properties in.

All of the property managers we refer you to have been fully vetted;

  • We typically have long standing relationships with them
  • They have all appropriate licenses and are up to date on them
  • Their references have been thoroughly checked
  • We review their standing with agencies such as the BBB (Better Business Bureau)
  • We confirm they have fair fee structures consistent with the industry and location they are in
  • Available during Australian business hours (at least partially)
  • Our members report on the level of service they receive.

We take the guesswork out of finding a good property manager, ultimately saving you time and money.

We refer many clients to our property management partners, but only if they provide the highest level of service. If our members inform us that a property manager is performing poorly, the manager risks losing a significant amount of business; this scenario is helpful in encouraging a high level of attention and care.

We take the hard work and risk out of investing in the USA.

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