10 questions to ask before appointing a Property Manager

Whether you have just purchased your first investment or have multiple properties, you want to be confident that your property, and tenants, are meticulously looked after to maximise your return.

Be sure to do your due diligence and ask the following questions before appointing a property manager.

1. What are your fees and charges?

Unlike the straightforward fees of selling a property, landlords can be hit with various ongoing costs. So be sure you receive a clear and transparent outline of all the costs and charges you are potentially liable for before engaging a property management agency. 

Understanding what you are receiving for the proposed management fee is paramount. And critically, be very wary of agencies offering hefty discounts; the adage that you always get what you pay for holds true regarding property management. 

2. What’s our staff-to-property ratio?

This indicates how much time your property manager will likely have to devote to managing your property and ensuring the best possible return.

A high volume of properties per staff member is a warning sign that usually leads to cutting corners and sub-par service.

Mosaic Property Management has one of the lowest staff-to-property ratios in South East Queensland to ensure our clients get the personalised attention they and their asset deserves.

3. What are your current metrics around days on market and vacancies?

Ascertain the property manager’s strategy to lease your property as quickly as possible for an optimal return.

Contrary to other agencies, Mosaic Property Management markets its properties far earlier than most (on average, 4-6 weeks). So while days on market may seem higher, this strategy allows us to increase the owner’s yield/rental return and results in a consistently low vacancy rate of close to 0%. We also have a strong track record of exceeding suburb averages and achieving above-market rental returns.

4. How do you attract and screen tenants?

A property manager’s ability to attract and screen tenants is one of the most crucial aspects of their role. High-quality tenants will generally seek longer tenancies and take excellent care of the property.

With access to Mosaic Property Group’s extensive network, we provide a premium, exacting approach that leverages superior industry knowledge and local area expertise.  

We advertise on all the major portals and tap into our extensive databases of prospective tenants. We also have wait lists for certain suburbs. 

Tenants undergo a rigorous screening process, including rental and employment history, default databases, and personal reference checks, ensuring we find you the best tenant possible.

5. How many tenants are currently in arrears and what action do you take if a tenant is behind on rent

We monitor arrears daily. In the rare event a Mosaic tenants reach three days in arrears, a friendly reminder is issued via text and email. This occurs daily until the sixth day when they are called by the property manager and advised of a potential breach if not paid.

On the eighth day, a notice to remedy the breach is issued. This is, however, seldom the case, with our current arrears across its portfolio sitting extremely low at 0.82%.

6. What technology have you implemented to make my or my tenant’s experience better?

Technology adoption is a sure indicator of a client-focused business. That said, it cannot replace the human element central to an exceptional client experience.

We continuously focus on leveraging the latest relevant technology to improve customer response and access to information without taking away valuable personal interactions.

7. How did you manage throughout one of the most challenging periods in the rental market?

In times of crisis, particularly the unprecedented last two years, with COVID, extreme weather events, and a housing crisis, how well will your property manager support you and your tenant?

Customers trust us to deliver on our promises and provide valuable advice and support. We effectively managed unprecedented volumes of often highly emotional requests for help and direction from Landlords and Tenants.

Our communication is proactive and consistent, with several regular touchpoints, including email, face-to-face, and phone. We build trust and achieve optimal outcomes through empathy and balancing Tenant and Landlord needs, providing considered, fact-based advice.

8. Do you have any recent testimonials

There is no greater measure of a company than what its customers have to say about it, and we are proud to have many very happy Landlords and Tenants in our community.

See what investor and landlord, Peter Spryszynski, had to say about his experience us.

9. Do you have positive independent online reviews?

Equally important as client testimonials are independent reviews and performance-based indicators, which can provide crucial insights into how a company treats its broader client base. 

Do your research and conduct a quick online search to get honest opinions from fellow investors and tenants.

Whether you are a Mosaic property owner or an independent property owner, MPM takes the same committed approach to deliver our Landlords quality and service excellence. That’s why we are setting the benchmark for customer service excellence for the property management and leasing industry.

Don’t take our word for it though, check out our Google reviews!

10. What are your points of difference – what makes you unique and valuable?

Determining what one property manager can offer that others can’t is invaluable and will make your selection process much easier.

With access to Mosaic Property Group’s extensive network, we provide a premium, exacting approach to property management, leveraging superior industry knowledge and local area expertise.

A dedicated in-house research team provides MPM with a standout market advantage. Mosaic’s team are highly respected market leaders, producing detailed reports on area performance and industry trends/forecasts to provide customers with data-driven recommendations. This is particularly important for the large portion of Landlords located interstate.

Further, with a pool of licensed tradespeople readily available through Mosaic Property Group’s construction and development network, we can resolve issues quickly and cost-effectively, with a quality assurance guarantee.

Why choose Mosaic Property Management?

Not many companies can claim to do what we do, which is why we are heads and shoulders above the rest.

We are committed to going the extra mile for clients, with a reliable approach to engagement, rapid response to enquiries and requests, regular reporting, weekly disbursements, first-class tenant selection, and achieving above-market rents where possible.

Whether you are a Mosaic property owner or an independent property owner, Mosaic takes the same committed, approach to delivering our Landlords quality and service excellence. 

From central and greater Brisbane to the Gold and Sunshine Coasts, we have a dedicated team of dependable, experienced property professionals ready to support and guide you through a hassle-free process while maximising the return on your investment.

Don’t delay. Get in contact with our team today. Click below to request a free appraisal or simply to ask more questions.