Having an investment property is a great way to secure long and short term returns on your hard-earned money.
When the time comes to hand over the management of your property to someone else you will want to do your homework before making the big decision.
You could stay with the property manager that you purchased the property from; however it’s worth considering your options carefully first. The relationship you have with your property manager can mean the difference between an investment that effortlessly grows in value, or a money pit that causes no end of stress.
What Makes a Great Property Manager?
Here are some things to look for when you’re choosing a property manager.
- Communication. Communication is key to all good business. Problems often arise from a lack of clear information between owners, property managers and tenants. This can cause frustration and worse yet, cost you time and money.
- Experience. The best property managers know the market and their industry well. They are the experts and should be able to advise you on all aspects of managing your property. Questions to ask include: How long have you been in business? How many properties do you manage?
- People skills. It can be a delicate balance keeping both owners and tenants happy and it requires excellent people skills. Happy tenants should always be the goal to maximise occupancy and avoid loss of income.
- Professional. Look for a professional looking agency with staff that present as organised and friendly. Take in your first impressions from the reception area as a guide to the overall professionalism of the agency.
- Local or national. Whether to go with a local or national property manager will depend on your investment plans. It is a good idea to stay local if you only plan to invest locally, however if you would like to expand your investments to other states, consider a property manager that has national coverage.
Some of Canberra’s Favourite Property Mangers.
After reading through your comments and doing a little research ourselves, we’ve come up with this list of four property managers in Canberra.
1. Peter Blackshaw Real Estate
Peter Blackshaw Real Estate has been managing properties in the Canberra and surrounds since 1988. From the start, Peter Blackshaw has had a reputation as a pioneer in the industry, often at the forefront of the latest innovations in property management and marketing.
The agency currently has 7 offices and employs over 120 expert staff. Peter Blackshaw boasts a vacancy rate that is consistently lower than the state average.
Here’s what sophiekt has to say, “Peter Blackshaw Woden gets my vote. I just returned from a posting (3 years) and the house was returned in great shape and no nasty surprises. Not one late rent payment in the whole 3 years either.”
2. Independent property Group
Independent Property Group is an award-winning property management group with a refreshing focus on putting people first and engaging the community. As well as professional, well-trained staff and excellent management protocols, Independent Property aims to have a positive impact on the Canberra region.
They care about honesty and transparency and are always looking for ways to take the stress out of owning an investment property. Pride is taken in teamwork, a passion for the job and being early adaptors to new technologies in the industry.
There’s some great feedback for Independent; crispmarks says, “I think Nicole at Independent is Great, switched on and easy to deal with”, and from Bobert, “I thought they were excellent. They kept out of my life, but they did definitely tell me when something was wrong. They were strict but fair about inspections, and they kept me and my landlord in the loop about all problems. Would definitely recommend them!”
Luton is a local agency that has been in the Canberra real estate business since 1999. They are currently the largest privately-owned agency in Canberra with 9 offices and 155 highly trained staff.
Luton offers outstanding service and expert market knowledge. Set apart by the fact that Richard Luton and his team of directors all have ongoing active roles in the company. They currently manage 2500 properties.
While their growth has been impressive over the years, Luton has not forgotten the community. The annual Luton Charity Ball remains a highlight in Canberra’s social calendar.
4. McGraths Gunghalin
McGraths in Gunghalin is recommended by mcs: “Mcgraths in Gunghalin has been excellent to deal with”. McGrath is a well-known name in the real estate world with 95 offices nationwide and over 33,000 properties under management. That’s a lot of experience. A great option if you plan to invest interstate.
Your Experience with Property Managers in Canberra
Share your experiences with property managers in Canberra in the comments section below.