The Benefits of Switching Property Managers
Managing a rental property is a serious business, one that can be the difference between reliable income and unnecessary stress. Many property owners start with a particular property manager out of convenience or habit. But what happens when the service you receive starts to fall short of expectations? As the market evolves and your investment goals grow, your property manager should be keeping pace. If they’re not, switching to a new, proactive agency can transform your experience as a landlord and the performance of your property.
Below, we’ll cover the signs it’s time for a change, the benefits of switching property managers, and what the transition process looks like in Western Australia.
Recognising When It’s Time to Switch
The relationship with your property manager should be built on trust, communication, and results. If you find yourself frequently frustrated or feeling unsupported, it’s time to evaluate your options. Some common signs that it might be time for a change include:
1. Poor Communication
If your calls and emails go unanswered, or you only hear from your manager when there’s a problem, you’re not receiving the service you deserve. Clear, prompt, and proactive communication is the foundation of successful property management.
2. Frequent or Prolonged Vacancies
Extended periods without tenants can severely impact your rental income. An effective property manager uses up-to-date marketing strategies and maintains a strong tenant database to minimise vacancy rates.
3. Inconsistent or Incorrect Financial Reporting
You should have access to timely and accurate statements outlining your income, expenses, and repairs. If your reports are frequently late, inaccurate, or unclear, you could be missing out on important tax deductions and insight into your investment’s performance.
4. Maintenance Delays and Costly Repairs
Outstanding repairs and maintenance requests shouldn’t linger for weeks or months. A proactive manager not only addresses issues promptly but also has established relationships with trusted local trades to keep costs under control.
5. Lack of Local Market Knowledge
A manager who isn’t up-to-date on the local rental market can’t maximise your returns or advise you on competitive pricing and tenant trends, especially in rapidly changing areas like Mandurah or emerging Perth suburbs.
6. High Turnover of Property Managers
If your property is handed from one manager to another within the same agency, important details can be lost, and relationships with tenants suffer. Stability and continuity matter.
The Benefits of Making a Change
Switching to a better property manager is about more than fixing a few problems, it’s about protecting your investment and giving you peace of mind. Here’s how making the switch can benefit you:
1. Improved Rental Returns
A proactive property manager continually reviews rent rates, keeps up with local trends, and advises you on value-adding improvements. This means you’re far less likely to undercharge or experience unnecessary vacancies.
2. Lower Stress and Less Hassle
With responsive communication and a commitment to handling issues before they escalate, a quality manager takes the day-to-day pressure off your shoulders.
3. Better Quality Tenants
Effective tenant screening is critical. Experienced managers use advanced systems and local knowledge to find and retain tenants who pay on time, respect your property, and stay longer.
4. Faster Issue Resolution
From urgent repairs to tenant disputes, prompt and professional management means issues are resolved quickly and with minimal disruption to your cash flow or property value.
5. Compliance and Risk Reduction
Western Australia’s tenancy laws are constantly evolving. An up-to-date manager ensures your property complies with all legal requirements, protecting you from costly fines or disputes.
6. Transparency and Trust
You deserve regular updates and clear financial reports. A trustworthy property manager builds long-term relationships through openness and accountability.
How the Switching Process Works
Many landlords put off switching managers because they worry it will be complicated or disruptive. In reality, the process in WA is straightforward:
1. Review Your Current Agreement:
Check the termination clause, most contracts require a notice period (often 30 days) and written notice.
2. Appoint Your New Manager:
Your new property manager can guide you through the transition, including sending notice to your previous agency and arranging to collect all property documents, keys, and tenant records.
3. Notify Your Tenants:
Tenants are informed of the new manager and provided with updated contact information, usually with no disruption to their lease.
4. Ongoing Support:
The new manager conducts an introductory inspection, reviews all documentation, and sets up a communication plan with you and your tenants.
A professional agency will handle the switch seamlessly, minimising your involvement and ensuring your property’s management continues without interruption.
Conclusion
Sticking with an underperforming property manager can cost you money, time, and peace of mind. The benefits of making a change far outweigh the temporary inconvenience of the switch. If you’re noticing ongoing issues, or simply want a fresh approach to maximising your property’s returns, now is the perfect time to explore your options.
For expert support, local insight, and a truly responsive service, contact our team at Platinum Property Co today. Let us show you how easy and rewarding property investment can be with the right manager by your side.
