How to Find the Right Property Manager for Your Investment Property

Lee Doherty
Jun 4
5 min read

Updated: Aug 9

Struggling to find the right property manager? Discover actionable steps, insider tips, and red flags to watch for so you can confidently select the perfect property management partner for your investment.

So, you’ve taken the plunge and bought an investment property—congratulations! But here comes the twist: managing it can sometimes feel like juggling flaming torches while blindfolded. That’s where the right property manager swoops in, cape and all, to save the day. With so many choices (and a few lemons out there), how do you spot the pearl among the pebbles? Let’s cut through the jargon, ditch the sales pitch, and get real about how to find the right property manager for you and your property.

Why Picking the Right Property Manager Makes All the Difference

Not all property managers are created equal. Trust the wrong one, and you could be stuck with hidden fees, endless vacancies, or, worse, nightmare tenants. But land the right property manager? Suddenly, your investment hums along, making money in the background while you sleep easy. Here’s why it matters:

Maximised Returns: A savvy manager keeps your property filled and rent flowing.
Stress Reduction: Say goodbye to midnight calls about leaky taps.
Asset Protection: Good managers don’t just collect rent—they preserve (and even boost) your property value.
Legal Peace of Mind: No more sweating over compliance, regulations, or tricky tenant disputes.

The Right Property Manager: What to Look For

Finding the right fit isn’t about picking the flashy ad or the lowest fee. It’s about digging deeper, asking tough questions, and trusting your gut. Here’s what separates the pros from the pretenders:

1. Experience in Your Market

Let’s face it, property management isn’t paint-by-numbers. Local know-how is everything:

Do they manage properties in your suburb or neighbourhood?
How long have they been in the game?
Are they familiar with local council regulations and rental trends?

2. Transparent Fees (No Sneaky Surprises)

If their pricing looks like a phone book, beware.

Flat, all-inclusive rates are a good sign.
Ask about extra charges for advertising, tenant placement, inspections, or maintenance.
Get it in writing—what’s included and what’s not?

3. Strong Communication Skills

You want updates without chasing. Look for:

Fast response times (do they answer your call or email promptly?).
Regular, clear updates on your property.
Online portals or owner dashboards? Even better.

4. Proactive Maintenance

A right property manager doesn’t wait for disaster:

Do they schedule regular inspections?
How do they handle small repairs vs. major issues?
What’s their process to prevent problems before they start?

5. Rigorous Tenant Screening

The best tenants don’t just walk in the door. Your manager should:

Run thorough background and credit checks.
Call references (and not just tick boxes).
Explain their approach to matching the right tenants with your property.

6. Legal and Compliance Know-How

From bond lodgement to eviction notices, the law is a jungle:

Are they up to date with the latest property legislation?
Can they explain your rights and obligations in plain English?
How do they manage disputes or breaches?

7. Track Record and Reviews

Don’t take their word for it—see what others say:

Check Google, Facebook, or local review sites.
Ask for references from current clients.
How do they handle complaints or negative feedback?

Where to Find the Right Property Manager

Okay, now you know what to look for. But where do these unicorns hang out? Here are some tried-and-true hunting grounds:

1. Word of Mouth

Start by asking:

Friends, family, or colleagues who own rentals.
Local real estate agents (they often know who’s reputable).
Neighbourhood Facebook groups or community forums.

2. Property Management Review Sites

Sites like RateMyAgent often feature candid reviews and ratings.

3. Industry Associations

Look for managers who are members of bodies like the Real Estate Institute or similar—they’re more likely to play by the rulebook.

4. Online Searches

But don’t just Google and call the first result. Read reviews, check their website, and see if they offer clear pricing and detailed service breakdowns.

Questions to Ask When Interviewing for the Right Property Manager

Don’t be shy—this is your investment. Here’s a cheat sheet of must-ask questions:

How many properties do you personally manage?
Too many, and you might get lost in the shuffle. Too few, and they might be new or struggling.
What’s your process for finding and vetting tenants?
Listen for details, not vague promises.
How do you handle maintenance requests?
Is there a 24/7 hotline? Are repairs approved before proceeding?
How often do you inspect properties?
Regular (quarterly or at least biannual) inspections are a must.
Can I see a sample owner statement or portal?
Transparency in financials is non-negotiable.
What’s your fee structure? Are there any additional costs?
If they dodge the question, keep looking.
How do you handle rent arrears and difficult tenants?
There should be a clear, step-by-step process.
What’s your notice period if I want to leave?
Flexibility and fairness go both ways.

Red Flags: When to Run, Not Walk, Away

Sometimes, it’s what they don’t say that matters. Keep your eyes peeled for these deal-breakers:

Vague Answers: If they can’t answer plainly, something’s up.
Overpromising: “We’ll fill your property in 24 hours!”—sounds fishy.
Hidden Fees: Anything that’s not in black and white should ring alarm bells.
High Staff Turnover: If you’re always talking to someone new, service may suffer.
Negative Reviews: One or two bad reviews happen, but a pattern is a red flag.
No Written Agreement: Always, always, always get it in writing.

The Right Property Manager: Checklist for Success

Ready to get started? Tick these boxes as you go:

Confirm local expertise and experience.
Check transparent, all-inclusive pricing.
Ensure clear, responsive communication.
Ask about proactive maintenance protocols.
Review tenant screening procedures.
Verify legal and compliance knowledge.
Read reviews and speak to references.
Ask the must-know questions in person or over the phone.

FAQs: The Right Property Manager

Q: How much should I pay for a property manager?

A: It depends on your area and the level of service. Typically, fees range from 7-10% of weekly rent, but watch out for extra charges like letting or advertising fees. The right property manager will be upfront about costs.

Q: Is it better to use a big agency or a smaller boutique manager?

A: Both have pros and cons. Large agencies may offer more resources, but smaller managers often provide more personal service. Choose the right property manager for your communication style and needs.

Q: Can I switch property managers if I’m unhappy?

A: Absolutely. Check your management agreement for notice periods and exit fees. A good manager will make the transition as smooth as possible.

Q: What’s the most common mistake investors make when hiring a manager?

A: Chasing the lowest fee and ignoring service quality or communication. Cheap can end up costing you more in the long run!

Q: How do I know if my property manager is doing a good job?

A: Your property should be tenanted, well-maintained, and your statements clear. If you’re always chasing them for updates or repairs, it might be time to reassess.

Conclusion

Finding the right property manager isn’t just about ticking boxes—it’s about building a partnership that’ll set you up for investment success, year after year. With the right questions in your back pocket, a dash of due diligence, and your BS radar switched on, you’ll soon spot the manager who’ll treat your property like their own. Remember, a great property manager isn’t just a cost—they’re an asset. Ready to find your perfect match? Go out there and turn that investment dream into a smooth, stress-free reality!

Still have questions about how to find the right property manager? Drop them in the comments below or reach out for a personalised consultation. Your property deserves nothing less!