Having a good property manager is like having a board of directors for your property investing business

Jane Slack-Smith

A good rental manager is kind of like your custodian board of directors. You, as chairman, take a sabbatical, heading off to the next thing to take up your time, while leaving them with a book of rules.

The rules include:

• Obey the law

• Get $500 per week rent

• Take care of any issues less than $250 and don’t bother me with them

• Check on the property regularly

• Process the candidates for tenancy and tell me who you recommend

• If the tenants do anything wrong represent me at the tribunal

• Handle all those pesky bills for me – rates, strata fees, water bills etc

As you can see, the real estate agency has multiple roles and we can complain about them and give the profession a hard time, but really, choosing the right agent is really important and vital to the running of your property investment business to keep it on track and under control.

What you need from your rental manager is for them to act as your ‘board of directors’, to manage your business while you move on to the next thing. When you think of it that way they’re well worth having as a key member of your team.

To read more check out http://www.investorschoice.com.au/set-bo...