Top 3 Red Flags to Watch Out for When Choosing a Property Manager
1. Poor Communication
Effective communication is at the heart of good property management. A property manager who struggles to stay in touch with landlords or tenants can cause misunderstandings, delays, and frustration. Whether it's slow responses to tenant concerns or vague updates to landlords, poor communication can snowball into larger issues, including tenant dissatisfaction, legal complications, and financial setbacks.
How Propertyscouts Dunedin Avoids This:
We prioritise clear, consistent communication, keeping both landlords and tenants well-informed at every step. Our team ensures that property owners feel in control of their investments and that tenants receive timely support.
2. Confusing or Hidden Fees
Unexpected fees are a common pitfall in the property management industry. A typical surprise charge could be a maintenance coordination fee, which can significantly increase your annual costs. Some companies use these extra fees to offset what appear to be low management percentages, only for landlords to discover additional charges for tasks like arranging maintenance at the property or attending tribunal hearings.
When comparing property management companies, it’s crucial to scrutinise all fees—especially the fine print. Ensure the management fee covers essential services like tribunal representation and maintenance, so you’re not caught off-guard with extra costs.
How Propertyscouts Dunedin Stands Out:
We believe in transparency. With us, what you see is what you get. Our fees are straightforward, and we provide comprehensive management services with no hidden surprises.
3. Lack of Regulation in the Industry
In New Zealand, the property management industry is currently unregulated, meaning anyone can open a property management business without experience or oversight. Unfortunately, some companies operate without separate trust accounts, creating financial risks by mixing rent payments with business expenses. This can lead to significant problems if the company fails to manage its accounts properly.
It’s essential to work with a property manager that maintains an audited trust account and carries appropriate insurance. A company with ongoing professional development and trained managers is far more likely to safeguard your property and rental income.
Why Choose Propertyscouts Dunedin?
With over 60 years of combined experience and two decades managing properties in Dunedin, we offer professional, reliable service you can trust. We prioritise ongoing training and qualifications for our team, ensuring that your property is managed to the highest standard. At Propertyscouts Dunedin, we go beyond the basics to protect your investment.
Get in Touch with Propertyscouts Dunedin Today
Don’t leave your property in the hands of just anyone. Choose an experienced and transparent property management team with a proven track record. Contact us today and experience the peace of mind that comes with knowing your rental property is in capable hands.