You get what you pay for in life.  

You’ve heard the saying that you get what you pay for in life, it’s the same with fees that real estate agents offer.

Today I want to address the topic of Cheap Fees V’S Higher Fees

When searching for a property manager for your investment property, there seems to be two different types of owners.

1. The owner that wants the cheapest fee option and
2. The owner that wants their property looked after the best possible way by the most experienced property manager.

When employing a property manager, you do get what you pay for. If a property manager charges $50.00 for a property condition report vs $200.00 for the same report what is the difference in the outcome?

Will the property manager at the cheaper rate spend 2 hours or more taking anywhere up to 500 photos of the property –  all for $50.00.  I would highly doubt this to be the case.

An experienced property manager is a professional.

They know what they are doing, they know the amount of time that goes into a property condition report and they know the implications of NOT doing a thorough job.  Along the way, your experienced property manager will make sure you are protected and that you have piece of mind that you and your property are safe.

When hiring a property manager, you should be asking;

• What experience do you have in property management?
• How long has your property manager worked for the company?
• Does the property manager have the support of a superior?
• Does the property manager undertake regular training to ensure they are up to date with the latest legislation?
• Will your property manager return your calls or emails when you call?
• How many properties does the property manager manage?
• Has the property manager or business won any awards for achievements?
• Does your property manager have effective marketing strategies that will expose your property to the best possible choice of tenants?

Before you pick up the phone to call all agents in the area, please have a look at their reviews online. Google reviews and Facebook reviews on their business page, are a great place to start. How many do they have? Do they have an assortment of both owners and tenants?

Ask the local buy and sell pages for recommendations, keep in mind that some people will be family and friends, however some people will have hired them personally.

Your rental property is one of your biggest assets and at some stage you will want to sell it to either ease your financial burden or retire.

When choosing a property manager make sure you always opt for experience before you consider the fee you pay.  Choosing the wrong agent could COST YOU THOUSANDS. Between the cheapest.

We understand that some people aim to get the cheapest fee so they can afford the property mortgage repayments, if that’s the case, I would be worried they may not be able to afford repairs and maintenance as it arises. Tenants rights have changed dramatically, and tenants may be able to request repairs within specific time frames. These are all things we can work through together.

There are so many factors when it comes to renting your home out, please ensure you choose and experienced professional agent.

If you would like any assistance please do not hesitate to give me a call or you are welcome to have a confidential chat over email.