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Property Development Finance

How to Ensure You Have Selected the Right Property Manager for Your Investment

November 26, 2014

With the growing number of property investors, there is an increased demand for property managers as well. These days, property investment through home loans has become a flourishing industry; people are paying lot of attention in choosing a right property manager to get the best possible deal.

Here are some pointers that can assist you in selecting a great property manager.

Test the knowledge of agents –
Before trusting the agent, it is good to test their knowledge. So, ask them lot of questions, do not get lured by their extravagant talks as you are investing your hard earned money. Do not ask them usual questions, as they are good at their prepared story, ask something that tells them you have done your homework well and is capable of evaluating their knowledge. Ask questions such as how many properties are you currently managing, what is the suburb’s profile at present, what is the current vacancy rate in the area, what all is included in your services, how can he help to get the best return on the property etc.

Explore options –
When buying an investment property, the most obvious choice is selecting a local real estate agent. However, if you are planning to enlarge your investment portfolio, then it is good to explore other options than settling for someone who is based on proximity to you present property.

Reference Check –
When meeting real estate agents, do not go by their words only rather it is good to research about their reputation in the market. Do a reference check, find at least three to four references so that you know whether they had good experience with the agent or there were any bitter instances. In addition, to check the authenticity of the agent, verify licenses especially real estate agent licenses by getting in touch with concerned office in your territory.

Do not settle for cheap option –
Cheap offers do look tempting but do not let only money factor guide your decision. If an agent is quoting you a relatively low price for a particular property, there may be some hidden reason for this. There can be so many things may be its a defective property or there are hidden costs associated which he is not quoting it this time to give you a reduced price and later comes up with concealed costs.

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