Investing in a commercial property is a huge responsibility on your part. Unlike buying real estate for homeownership, there is an added pressure of gaining a return of investment with commercial real estate. If you have little to no knowledge with regards to property management at Wilston real estate industry, you can turn to a professional property manager to handle your investment property for you. But with a sea of professionals working on this field, this is easier said than done.
Finding the best Wilston property manager is, therefore, your main priority at this point. But in order to find the right one fit for the job, you need to follow a methodical approach such as below:
Check the Fees Involved
There is a certain fee involved in hiring the services of a property manager. This is typically 10% of the property cost because you are paying for the 1) time rendered by the Wilston property management team, and 2) the opportunity to leverage their knowledge and skills. However, the fee is more than enough to compensate for the burden off of your shoulders when it comes to overseeing your property. Make sure that the fee offered by a property management team you are considering is within the industry standards. It pays to do a bit of research before hiring one in your area.
All property managers aspire to offer the same service; however, their approach with customer service is different. This difference can be huge when it comes to managing your property and meeting your needs or goals for the investment property. You have to conduct an interview with a Wilston real estate property manager to assess their vision and make sure it is aligned with yours. It is also a good opportunity to gain an insight into their methods and processes to see if you are compatible to work together.
Questions to Ask During Interview needs
As mentioned above, you need to conduct an interview with a property manager before or after you have purchased a Wilston property for sale. To assess their processes and determine if they fit your standards, here are some questions you should ask:
- Do you have a dedicated manager to look into your property? You want to make sure that these are experienced and knowledgeable real estate professionals who do property management full time.
- Do you have any experience with the rental business or commercial real estate before? Experience is crucial with property management because there are several aspects that require expert knowledge.
- How long have you been working as a property manager? Do not simply focus on the number of years in experience but investigate as to who they’ve worked with before, or what type of properties they have managed.
- What is your proposed method for managing your properties?
If you own a commercial real estate in Wilston, visit http://www.styleproperty.com.au. Style is a boutique real estate agency specializing in Wilston real estate and property management, as well as in various areas within or near Brisbane.