How to find the right commercial property manager

By Greg Bell

The Gold Coast is booming. According to the Australian Bureau of Statistics the population should grow to 40 million in the next couple of decades – and with it inevitably comes more business. Good news for property owner, yes, but it sound like you are about to have your hands full.

The time to start looking for an efficient property manager is now, and we can help pinpoint characteristics that make a good hire.

Do a quick background check 

Everyone has heard nightmare stories about property managers who do next to nothing for their tenants, even when those tenants are begging for help. You don't want this to be your property manager – you want someone who is able to juggle all the responsibilities and curve balls that are going to come their way. Often if they ignore these requests for help, tenants can become disgruntled and you lose business going elsewhere, or even try to sue. 

A quick Google search will show you if they've had previous tenants complaining about them. You want to find a hard-working people person not only for your tenants, but for you!

Have a conversation with them

Next you have to look into their communication skills. If you didn't find anything from the background check that suggests they're bad with people, you can usually tell just by having a conversation with them. Meet them in person for a coffee and see how they communicate with you. This person is going to be working closely with you, so you want to be able to trust them when they aren't around. Here are some questions you should ask to get a feel for their personality:

  • How do you handle upset tenants?
  • Have you ever had a tenant complain about you? How did you handle it?
  • What do you do when there is an issue with your property?
  • Who do you call when there is an issue with your property?

Consider their experience 

Make sure you take a good long look at a the prospective property buyer's resume. If they have property management experience, what kind is it? If you have a whole office building to manage, but they've only managed a couple of university houses, they might not be a good choice. Additionally, you should be looking into their friendlies. Someone who has been in the business for a while will likely have a list of contacts who they can rely on to get a quick maintenance job done (and maybe even for a discount).

The best property managers are the ones who are from your local area who has been in the game for a while. If you need more advice or help managing your commercial property, contact our team here at Ray White Surfers Paradise. 

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