6 common mistakes property investors make when selecting an agent/property manager!

Don’t make the same mistake a lot of investors make and select the wrong agent to manage their property.

 

  1. Selecting the agent who tells them the highest rental price. If the rent is above market rent then you could be attracting the wrong type of tenants and you are likely to only have 1 applicant to select. Also having the rent high or above market creates more turnover of tenancies over time, with tenants moving every 6 or 12 months. This is better for agents as they generate more leasing fees over time.
  2. Either not dealing with an experienced property manager or dealing with a less experienced property manager  that is not supported by a director or senior property manager.
  3. Not dealing with a local agent or agent who has a very good understanding of the suburb in which your property is located.
  4. Not meeting the property manager before going ahead & just meeting with someone dedicated to dealing with new business.
  5. You must get 3 agents to compare, not all agents are the same.
  6. Giving in to the pushiest or last agent they meet because they are so exhausted by the process and it’s just easier to go ahead with that agent.

 

Making the right choice will be less stressful for you and will likely make you more money in the long run.

 

See links to other blogs that may be of interest to you.

 

Who do you pick? Tips to finding good tenants.

Avoid the stress of having your investment property vacant for too long!

After you buy your first investment property!

4 ways to keep tenants happy & living in your property longer.

Top 3 reasons investors are not happy with their current property manager.

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