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Things To Look For In A Rental Property Manager

tips for managing a rental propertyWhen we decided to get into rental property as part of our investment portfolio, my husband and I were smart enough to know that we didn’t know enough yet to manage properties by ourselves. We both have jobs and family responsibilities that take up most of our time. Having a tenant call at 3 AM about a clogged toilet was not on my list of things I wanted to deal with. It was pretty obvious that we needed a property manager like the ones from Property Management Melbourne. These are some things we looked for in a rental property manager.

Ability To Find Tenants

Obviously the most important thing about owning a rental property is having tenants. We wanted property management that had good access and experience with the local rental pool and who used various forms of advertising to attract tenants. Having a good website and also posting on sites like Craig’s List were also important.

We also liked that our rental property managers were flexible on times they were available to show our rentals to potential tenants. Often this happened after work or on weekends. You hope renters will have a reliable job, and that often means they aren’t free between 9-5.

Managing Repairs In House

The company we chose for property management has two maintenance people on staff. That way, if repairs are necessary, a staff member can show up and get the issue resolved. This often results in a lower per hour cost to fix the problem, and the tenant doesn’t have to wait while sub-contractors are located.

Quarterly Inspections

We liked the fact that our property managers do quarterly inspections. It is illegal for landlords to enter a property without 24 hours notice. While tenants generally don’t appreciate unexpected visits, they are usually pretty happy to open the doors if they think the landlord is taking care of them.

All of our tenants expect an inspection every season for things like heating and cooling units, appliances, and general wear and tear of other fixtures. This way, our managers can pick up on items that might need minor repairs before they become major ones. It also gives the manager a chance to make sure tenants aren’t plugging 15 appliances into one outlet or keeping a flock of geese in the back room.

Costs and Fees

Property managers generally charge landlords a percentage of the monthly or weekly rent. There might also be fees for finding new tenants, deposits required for each unit, and extra costs if evictions or other legal issues need to be dealt with. It’s important that landlords and property managers sign a contract stating all fees and costs up front so there won’t be any surprises later.

Hiring property management is not a decision to make lightly, but if you don’t have the necessary skills or time available to properly manage repairs and tenant issues, it’s probably the best route to take. While having a property manager does take a percentage of the rental profits, it could be well worth it to keep tenants happy and willing to renew their leases.

Image: Freedigitalphotos.net/van Oostrom


About Kim Parr

Kim Parr is a private practice optometrist, freelance writer, and personal financial blogger. You can follow her journey to 20/20 financial vision at Eyes on the Dollar.


  1. We ended up going with a family friend for our property management and there have been times we’ve regretted this decision. At times, she hasn’t worked as hard as we would have liked to find a tenant. Another time, we had a tenant who was late on the rent and the property manager let her get two months behind before telling us about it. In the end, we had to give her the statutory 30 day notice to pay or leave and she essentially got to live in our house rent free for two months. If our property manager would have done a better job selecting a tenant with a steady job and good credit we probably wouldn’t have been in that situation.

    • Yikes! We’ve only had tenants be late one time, and they were charged a late fee right away and we never had a problem again. I would hate to work with someone that I didn’t have a strictly business relationship with.

  2. I own a couple of pieces of property, so I’ve decided that it would be a good idea to rent them out to a few tenants. Usually, I don’t have a lot of time in the day to manage my property, so it seems like a good idea to hire a property management company to help me take care of my property. I didn’t know that they also take charge of finding tenants to lease my property to. It would be a great help to have my own management team to find tenants and repair the damages in those homes.

  3. It’s kinda hard to think when it’s time to repair a house, so the best to be out of budget is save money.

  4. It’s true that flexibility is important for a property manager to have. Sometimes urgent things come up on the weekends. You may need to drop what you’re doing to help out. I agree with the last section. One of the biggest things that keeps tenants in an apartment is good management. They need to know that problems will be taken care of. Thanks for the article!

  5. It’s actual that adaptability is imperative for a property supervisor to have. Now and again dire things come up on the weekends. You may need to drop what you’re doing to assist. I concur with the last segment. One of the greatest things that keeps occupants in order for the article!n a loft is great administration. They have to realize that issues will be dealt with. A debt of gratitude is i

  6. Thanks for the article! I’m looking for a rental home so I need to look for someone with those qualities. I will look for a property manager that manages repairs, finds tenants, and does quarterly inspections.

  7. I’d suggest to look up their reputaation online. Nowadays, looking for alternatives is also a big must in choosing for an someone to provide you for an ideal home. Also, the proof of legitimacy of the seller is very essential and is one of the commonly mistaken options of new buyers.

  8. Thanks for the property manager tips! My friend just bought a property and the quarterly inspections sounds like a fantastic idea. Also thanks for the head up on the 24 hour notice so the tenant is in the loop I’ll have to recommend that idea to him.

  9. I’m considering leasing out my townhouse when my husband and I buy a larger home. The extra income each month would be nice, but we hate the idea of being landlords. Perhaps we’ll have to consider a property management service!

  10. I agree that quarterly inspections are important. Making sure the property is being maintained will help with its longevity. Hopefully, the tenants are agreeable when they are asked to have their spaces inspected.

  11. I love the idea of doing quarterly inspections. I’ve seen how those really can help avoid problems, even things the tenant might not know are happening. For example, we lived in a place where the landlord did inspections three or four times per year. During one inspection, he noticed that the hot water heater was boiling over a little bit. Had he not checked that out, we would have had major problems on our hands!

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