Q: What Does A Good Residential Or Commercial Property Manager Do?
A good deal of specialised work goes into the management of your residential or commercial property, particularly in the competitive Sydney market.
Unless you want to make property management your main job, it’s likely that you’ll want a property-management agency to do the hard work for you. You can draw on their niche experience and network, such as a database of available tenants.
A good property manager handles:
- The advertising and open inspections for your residential or commercial property
- Finding and vetting prospective tenants
- Understanding the broader Sydney market, the local area market and current rental values
- Negotiating leases and making sure leases are current
- Frequent property inspections
- Overseeing all repairs, maintenance, refurbishments and questions from tenants
- Managing a database of contractors who service your property’s local area – fast and affordably
- Full account and finance management, including bill payments, land tax, insurance, rates, repairs and maintenance
- Monitoring rental payments and following up on arrears
- Transferring rent to your account every month
- Sending you detailed monthly statements about the financial performance of your property
- Staying up to date with laws that impact landlords, tenants and the housing market
- Understanding and upholding the rights and responsibilities of landlords and tenants
- Overseeing the process of any evictions to comply with Australian property law and attending tribunal hearings
- Overseeing litigation with tenants, contractors or other parties
- Being available to clients and tenants 7 days a week.
Q: What Is Residential Property Management All About?
A residential property manager, just as with commercial property management, should maximise the owner’s return on their investment. We aim to get the best price for your property, skilfully handle gaps or overlaps in tenancy, and carefully control your costs.
At the same time, we make sure the integrity and safety of your property is maintained to the standard required by the owner and the law. A residential property manager can also help you, as the owner, maintain or increase the capital value of your property portfolio.
As your residential property manager is also the prime point of contact for your tenants, this relationship is expertly and professionally managed to encourage tenant satisfaction and keep tenant turnover low.
Some property owners are happy to deal with tenants themselves at times, while others prefer to have no contact at all.
Some managed properties are only periodically occupied (such as a holiday or second home). In this case, your residential property manager may also have to organise extra security measures, housesitting or storage services.
Q: What Is Commercial Property Management All About?
To add to the services for residential property management, a commercial property requiresspecific care and attention to:
- Managing complex contracts, leases and legal regulations, with some commercial property portfolios involving multiple tenants
- Maintaining occupancy levels
- Ensuring consumer price index (CPI) increases are given
- Overseeing common areas and making sure outgoing costs are recovered according to each individual lease agreement, such as:
- Security patrols
- Cleaning and maintenance of common areas
- Building maintenance and repairs, including any lifts or elevators
- Seasonal décor like Christmas decorations
- Increasing or maintaining efficiencies, including energy and sustainability management
- Overseeing and managing capital works.
Q: What Do I Get With Sydney’s Niche Portfolio?
You can expect efficiency, a good communication flow, and responsiveness from us – plus that touch of warmth that only a small agency can deliver. We mould ourselves to suit your needs, on call 7 days a week.
You’ll have just one property manager overseeing your residential property or commercial property – someone who fully understands you, your property and its history, Sydney’s niche property market, and your specific concerns or priorities for your property.
Plus – as a boutique agency – all our staff are familiar with your property portfolio, just in case you’d like to chat to another contact in our close-knit team.
Our system for vetting prospective tenants is designed to ensure that you have the best of all candidates to choose from.
And repairs, maintenance and refurbishments for residential and commercial properties are managed promptly, efficiently and with costs well controlled.