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What does a property manager do?

What does a property manager do?

  • 31 Jan 2023
  • Sam Cole

We often get asked this question and the answer is a long one!


From collecting the rent in a timely manner, and managing day-to-day tasks to organising repairs and maintenance, having a good property manager look after your real estate investment provides peace of mind and can increase your rental returns.


A lot of investors choose to engage a property manager as they provide expertise and reduce the financial, administrative, and burden of self-managing rental properties. This article outlines some of the key things that your property manager does to look after your property. Keep reading to learn more.


Get your property ready for advertisement

When the time comes, your property manager will help you get your property ready to advertise. This may include minor repairs and maintenance, getting photos taken, and the advertisement ready to go online. Importantly, if you are considering changes to your investment property that you aren’t sure about, a property manager can advise what things are worth investing in and what doesn’t add value to find quality tenants.


Find quality long-term tenants

Once your property is listed, a property manager will help to find quality tenants. Getting this step right is vital.  This is done by having a thorough process for assessing applications, including reference checks, assessing the tenant’s ability to pay rent, and their rental history. As a professional who deals with tenants and applicants daily, a property manager knows what to look for and if there are any “red flags” in the tenant’s application.


Securing the Tenancy

Suitable applications will be presented to you for final approval, and the next step is to draw up the Lease Agreement and ensure the first 2 weeks & bond are paid.  A thorough ingoing inspection is completed and hundreds of photographs are taken.  Tenants are provided copies of all the documents as required in the legislation.


Organise maintenance and repairs

Your property manager should keep open lines of communication with your tenants, including being responsive to repairs and maintenance requests. Once a request is made, the property manager will let you know and then can work with their network of contractors to ensure property repairs and maintenance are completed properly and for a reasonable price.


Ensure compliance with relevant laws

Each state has its own residential tenancy laws, and these often change. Your property manager stays up to date with these laws so they can always ensure that your home is compliant


Day-to-day property management

Once your property is leased, your property manager will look after the day-to-day tasks involved in managing the property. This includes record keeping of rental receipts, lodging the bond, payments to contractors and managing lease renewals. Other regular tasks include managing bills (water, council rates and strata fees), preparing annual statements and importantly routine inspections.


A property manager looks after many tasks and responsibilities. Not only does this provide peace of mind that your investment is always taken care of, but a good property manager will also help you to maximise your rental yield. Further, having someone at your side who knows how to find and secure quality tenants will lift some of the burdens of owning an investment property.



Remember, this article is general in nature and is not financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.