Finding the Best Real Estate Agent to Rent Your Property
Read more as Siobhan Payne, Business Development Manager at The Property Exchange shares her insights on finding the best real estate agent to rent your property. Siobhan holds the specialist role of handling all new business enquiries.
I have recently taken over three properties from agents and found myself questioning the quality of service their property management team provided to the owner. Now, I know none of us are perfect and mistakes are made but the issues I found were basic oversights.
The managements were taken over once the tenants had vacated and the current agent finalised the bond return. After collecting the keys from each agent I visited each property for the first time, and what I found was surprising and property management 101!
Not one property was returned in a clean condition in accordance to the ingoing property condition report, there were alterations that weren’t identified by the agent, maintenance issues which none of the owners had been informed about during the tenancy or at final inspection! Alarm codes not on record, random keys, gardening not completed. One property had items left in the cupboards and drawers!
In all three cases the agents had not acted with due care and diligence.
These are the questions to ask an agency with whom you will entrust your property investment with:
1. Does the agency have a team structure to renting out properties?
2. Does the agency’s Director have a role in the everyday functioning of the property management team?
3. How many years of experience does the rental agent have?
4. Are there specific locations around the city that the property management service covers?
5. How many properties does the agent personally manage?
6. How many days per week will the agent have available to show the property to prospective tenants?
7. How does the agency check prospective tenants’ financial situations?
8. What actions are taken if tenants become overdue with rental payments?
9. What happens if there are problems with tenants? Will the agent vouch for me in court? What has your success rate been in the past in this type of situation?
10. How thorough are their final bond inspections and quarterly routine inspections?
Find out how to transfer your property management to The Property Exchange easily.