Once you have made the decision to appoint a Property Portfolio Manager (as opposed to managing the property yourself), your next task is to choose a Real Estate Company to manage your property.

Most Property Management Companies will be able to offer similar services but the differences can be discovered in the following questions:-

• How long have they been in the Property Management business?
• What are their fees and charges?
• How many staff are dedicated to Property Management services?
• What is their ability to find a quality tenant in a short time?
• What is their property vacancy rate?
• How many properties do they manage?
• What is their rent arrears?

Let's Talk About Fees

Generally speaking, companies which charge lower fees (or heavily discount their fees) will not be able to provide the level and range of services as others.  Why?...  because they will not have the financial resources to attract, train and retain appropriate professional staff and/or provide the technology, systems and backup required.

The key to securing a good financial return on your property is having it let in the shortest possible timeframe, for the best possible rent, to the best possible tenant; and then having it pro-actively managed.

Property management fees vary, with some companies having higher management commission and monthly fees but lower letting fees, or vice versa.

To get a total picture of the cost of managing your property, you need to calculate the total annual cost for each property management firm (i.e. management fees, letting fees, advertising and statement/postage fees).

Comparing these fees across various property management firms may show an annual variance of up to say $300.00 per annum on a $300.00 per week property (being equivalent to one week's rent).  Therefore, if the company charging the lower fee takes one or more weeks longer to rent the vacant property, any saving in management fees has already been eroded.

Therefore, finding out what resources they put into letting properties and asking about their vacancy rate (i.e. the % of vacant properties in their rent roll), is an important first step in choosing the right property management company.

Real Estate, like any other investment, performs better when managed professionally.  But deciding on who to delegate to, is not always easy.  In making your decision we ask that you consider PMM Real Estate for the following reasons:

• we have one of the larger rent rolls in the greater Hobart area, with a lower than average vacancy factor and very low rent arrears;
• our business has been built on referrals from satisfied owners and tenants;
• our Company has the resources and systems to deliver on the services we offer; and
• the Company, Property Marketing & Management, was established in 1995 and employs 2 dedicated Property Managers, and 7 support staff (a team of 9);
• our office is centrally located to service all clients, both sides of the river; and
• our office is open 7 days per week, and longer hours (9.00am to 6:00pm), to maximise the opportunity for people to access our services.

Local Knowledge and Experience

• At PMM we manage approximately 300 rental properties.
• We have seven support staff to assist our four portfolio property managers.
• We manage properties in all Hobart areas.

Security

• No keys are given out to prospective tenants
• The extra effort is well worth while.  We have found from years of experience that a little extra time spent screening prospective tenants is of great benefit.  This avoids many hassles that may otherwise occur.
• Regular 12 weekly Property Inspections are made and reports forwarded to property owners.

Our PMM Professional Property Portfolio Manager:

• understands the market in which the property is located and the type of tenants who would appreciate living in that property;
• invests in computerised accounting and electronic systems to ensure that rents are paid on time and accounts are administered in a satisfactory manner;
• Utilises technology to deliver benefits to tenants and owners for example:
  • electronic statement distribution;
  • direct debit for rental collection;
  • automatic email reply rent lists;
  • advertising your rental on our two websites;

• vets all complaints and inquiries from tenants and ensures the anonymity of Owner(s);
• obtains the best service and the keenest prices from trades and maintenance people;
• maintains a friendly but firm relationship with the tenants leasing your investment;
• manages the property, not just the rents (we document all our systems, policies and procedures to ensure a consistent level of quality and service);
• recognises the importance of your investment and the need to maintain the property as a source of income and as an appreciating Capital Asset;
• understands finance, gearing and budgets that ensure maximum yields for property investments;
• keeps abreast of relevant changes to statutory regulations concerning property management;
• sets high standards that others will have to emulate to keep abreast of; and
• offers services greater than his/her opposition and believes that honesty and integrity are essential in all negotiations with the Owner and Tenant.

These are just some of the benefits of our Company, which enable us to find quality tenants in the shortest possible timeframe, manage your property proactively on an ongoing basis and have the skills, knowledge and training to be able to give you peace of mind.