Property manager warning signs are not always obvious, especially for Mosman landlords who assume their investment is being properly looked after.
Yet many landlords only realise their management service is slipping when something goes wrong — a maintenance issue has been sitting unresolved, a routine inspection is overdue, the rent has fallen behind the market, or a good tenant has become frustrated because nobody is responding.
Good property management is not simply collecting rent and sending a monthly statement.
Here are seven signs it may be time to look more closely at how your property is being managed.
Property Manager Warning Signs Mosman Landlords Should Watch For
1. You are always the one chasing the agent
A landlord should not have to repeatedly email or call to find out what is happening at their property.
Your property manager should keep you informed about maintenance, tenant requests, inspections, lease renewals and anything else that requires a decision.
If you regularly find yourself asking, “What happened with that repair?” or “Did the tenant ever get back to you?”, the communication system is not working.
2. You cannot remember the last routine inspection
Routine inspections are one of the simplest ways of protecting an investment property.
They allow the agent to identify maintenance issues early, check how the property is being cared for and give the landlord an updated picture of its condition.
At Axios Real Estate, we generally conduct routine inspections approximately every three months because waiting too long can allow small problems to become expensive ones.
3. Nobody talks to you about the rent until you ask
The Lower North Shore rental market can change quickly.
A good property manager should be watching comparable properties, tenant demand and the condition and features of your particular property.
That does not mean increasing the rent at every opportunity. Sometimes retaining an excellent tenant is worth far more than chasing the last few dollars.
But the landlord should at least be given proper market information so they can make an informed decision.
4. Maintenance consists of forwarding emails
These property manager warning signs often start small, but they can become expensive if nobody is properly overseeing the tenancy.
There is a big difference between managing maintenance and simply forwarding a tenant’s email to the landlord.
A property manager should establish what the problem is, determine how urgent it is, speak with appropriate tradespeople, obtain approval where required and follow the job through until it is completed.
The landlord should not become the project manager.
5. You never deal with the same person
This is one of the biggest frustrations we hear from landlords changing agents.
They sign with an experienced person and then discover their property is being handled by several different staff members.
Nobody quite knows the history, and every new issue requires the landlord to explain everything again.
Axios Real Estate is deliberately different. Mike and Kathy remain directly involved in the properties we manage. There is no call centre and no constantly changing chain of junior property managers.
6. Your agent only contacts you when there is a problem
Good management should be proactive.
That means discussing lease expiry dates before they arrive, reviewing the rent at the appropriate time, carrying out inspections, identifying maintenance and keeping an eye on how the tenancy is progressing.
If the only time your property manager contacts you is when something has gone wrong, you are getting administration rather than management.
Landlords should also understand their repair and maintenance obligations under NSW tenancy laws.
7. You no longer have confidence that anybody is watching the property
This is probably the most important one.
A landlord should be able to get on with their life knowing somebody experienced is looking after the property.
You should not be wondering whether the rent was reviewed, whether the inspection happened, whether the repair was completed or whether the tenant received a response.
Property management should give a landlord less work, not create another job for them.
These property manager warning signs can be easy to overlook at first, but over time they can affect both the condition of the property and the landlord’s return.
Thinking about changing property managers?
Changing property managers is generally much easier than landlords expect.
The new managing agent can usually handle the changeover, contact the existing agent and arrange transfer of the tenancy records, keys and property information.
Your tenant does not need to move out simply because you change managing agents.
At Axios Real Estate, we provide hands-on property management across Mosman, Cremorne, Neutral Bay, Kirribilli, North Sydney and the Lower North Shore.
If you are wondering whether your property could be managed better, call Mike or Kathy at Axios Real Estate on 0407 403 640 for a confidential discussion.
If these property manager warning signs sound familiar, it may be worth reviewing whether your current agent is giving your investment the attention it deserves.
You may also find our guide to 7 costly property management mistakes Mosman landlords should avoid useful.
If you are considering improvements before your next tenancy, see our guide to Mosman rental renovations that can improve rental appeal and income.