Why pay someone to manage my property when I can do it myself? Good question. While collecting rent is part of the role, a skilled property manager does far more than just collect rent. General duties include, monitoring payments, attending to maintenance issues, communicating with tenants, landlords and other third parties including trades, completing inspections, ensuring ongoing compliance is satisfied, securing tenants for properties etc. The right manager not only protects your asset but saves you time and eliminates stress, allowing you to focus on what matters most. YOU!
Here are seven key factors to consider when selecting a property manager.
1. Licences and Certification
Always confirm your property manager or agency holds the correct licences for your state. Each Australian state has its own licensing body and legislative requirements governing who can legally manage property. If in doubt, check with your state’s authority.
2. Fee Structure
Management fees vary—some charge a percentage of weekly rent (typically 5.5%–10% in Brisbane), while others use a flat rate (e.g., $35 per week). Ask exactly what is included and whether there are extra costs such as advertising, inspections, lease renewals, tribunal attendance, or end-of-year statements. A low fee can appear attractive but may hide additional charges.
3. Tenant Screening
Reliable tenants are the cornerstone of a strong investment. A good manager will thoroughly screen applicants, check references, and use tenancy default databases. Their trained eye helps identify red flags and ensures you secure tenants who pay on time, care for the property, and stay longer.
4. Property Inspections
Routine inspections protect your asset by identifying issues early. Ask how often inspections are conducted (quarterly is standard), whether they are included in the fee, and if you’ll receive detailed reports with photos. Inspections also help with budgeting for future maintenance.
5. Maintenance
Well-maintained properties hold their value and keep tenants happy. Experienced managers have reliable tradespeople on hand to handle repairs efficiently. Some investors prefer managers to act on minor issues without approval, while others want to be consulted. Clarify expectations upfront to avoid misunderstandings.
6. Local Knowledge and Expertise
Strong market knowledge is invaluable. A competent property manager understands local rental trends, legislation, and compliance requirements. They’ll provide timely advice, keep you updated on changes, and work proactively to maximise returns.
7. Communication
Clear communication is vital. Decide how often and in what format you’d like updates—whether by phone, email, or only when issues arise. A good manager will act as the buffer between you and tenants, resolving conflicts fairly and efficiently.
Final Thoughts
Your property is one of your most valuable assets. Choosing the right manager ensures not only that your investment is protected, but also that its value is enhanced over time. Use these seven points as a guide, ask detailed questions, and select a manager who aligns with your expectations. The right partnership will give you peace of mind while maximising the return on your investment.