If you are a landlord with commercial or residential property to let in Victoria, there are many reasons why you may consider engaging the services of a professional property management specialist. It is important though to think carefully about who you will appoint, as not all property management services are created equal, plus it’s vital that whoever you choose to work with knows the area of Victoria inside out. Read on as we list the top considerations you’ll need to factor in when choosing property management Victoria wide, and set out the services you can expect to receive.
Excellent local knowledge
When you are entrusting your residential or commercial property to a managing agent, it’s vital that they are familiar with the location of the property. Victoria for example is split into three main districts, namely Victoria Railway Station, Victoria Street and Victoria Coach Station. Properties and demographics vary between these districts, and it is vital that the agent managing your asset is aware of the types of tenants that will be best suited to your property, and how best to maintain good relationships with them.
Knowing the local area, your property management company will be able to advise you on how to optimise your yield, and ensure that you are offering the precise type of accommodation and features that are typically in demand by local tenants.
Extensive experience
Experience counts for everything in property management. Victoria landlords will benefit extensively from the long term expertise and in-depth knowledge of an experienced managing agent. This is especially the case when it comes to handling complex, multi-let office buildings, retail and industrial properties, residential blocks of flats and other classes of commercial assets.
You should expect your property management company to be able to maximise the performance of your asset through strategic letting advice, and via regular inspections.
Personal service
There is nothing more reassuring than knowing that your managing agent is operating in your best interests, and has a comprehensive understanding of your needs and goals.
When engaging a specialist in property management, Victoria landlords should choose a service that is tailored to their individual requirements, overseen by a dedicated contact who has taken the time to get to know them well, who is always on hand to deal with arising issues, and who is prepared to go the extra mile to resolve them. Because at the end of the day, your reputation as a landlord, and your relationships with your tenants, are highly valuable, and need to be well-protected.
What services are included in property management Victoria wide?
Your managing agent should tailor-make your property management service to suit your precise needs. Typically though, services will generally include the following:
Rent collection
The crux of being a landlord is getting paid on time. You’ll want efficient, fully documented rent collection and streamlined handling and timely resolution of any rent-related issues.
Costs management
You can expect your managing agent to assess and evaluate fair service charges using tailored forecasting models, and to present those charges and any changes to tenants on your behalf as necessary.
Maintenance and upgrades
Preventative and planned property maintenance are vital elements of any property management service. You should expect expert surveying of your property on a regular basis, as well as the development of strategies and scheduled programmes to ensure ongoing maintenance of your asset. You should also receive regular advice on pertinent upgrades, including making use of new technologies and environmentally friendly solutions.
Tenant query handling
Managing agents should be expected to deal promptly and helpfully with any tenant queries, ensuring your reputation as landlord remains positive.
Health & safety audits
One of the most important aspects of property management Victoria wide is ensuring the property is legally compliant. A good managing agent will carry out thorough property audits, reviewing all health and safety provisions and putting programmes in place to ensure ongoing compliance.
Landlord & tenant matters
A property manager will act as the middleman between landlord and tenant. They will be fully conversant with landlord and tenant law, ready to efficiently handle and document anything arising in relation to the property.
Looking for a personalised, efficient service in property management? Victoria based? Talk to Mellersh & Harding.
If you’re seeking to engage the services of a London based property management company to take professional care of your Victoria property portfolio, Mellersh & Harding offers extensive experience coupled with the utmost in personal service.
For a fully tailored property management service in Victoria, you are welcome to contact our dedicated team on 020 7522 8500.
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