Local or Not? The Real Deal on Choosing the Right Property Manager.

In the world of property management, a common question often arises: Do you need a local real estate agent to manage your property effectively? Short answer is no, but let's breakdown why:

1. Local Knowledge Can Be a Game-Changer

When selecting a property manager, one of the most important factors is their familiarity with the area where your property is located. If they manage other properties in the same suburb, they’re likely well-versed in the local market dynamics, which can be a significant advantage.

2. The Importance of Property Visits and Minimising Vacancies

When your property is vacant, the frequency of property visits becomes crucial. A property manager who is located far from your property might have limitations on how often they can visit. This could impact the time it takes to lease your property. It’s important to ask potential property managers how often they conduct home opens or visit the area.

3. The Internet’s Influence

With most property inquiries now originating from online portals, the physical location of your property manager might seem less critical. However, it remains essential that your property manager maintains a strong connection to the area, ensuring they can act swiftly when needed.

4. Relationship with Local Trades and Services

A property manager with local ties often has established relationships with local tradespeople and service providers. This can lead to quicker response times for maintenance and repairs, often at competitive rates. A manager who knows the best local professionals can ensure your property is well-maintained, which is crucial for both tenant satisfaction and property value.

5. Market Trends and Rental Pricing

A local property manager is likely to have a finger on the pulse of current market trends and rental pricing specific to your area. They can provide accurate and up-to-date advice on setting the right rental rate, ensuring your property remains competitive while maximising your return on investment. Their knowledge of local demand, seasonal fluctuations, and neighborhood desirability can be crucial in maintaining consistent occupancy and achieving optimal rental income.

Although a local real estate agent isn’t always essential for managing your property, it’s crucial to thoughtfully evaluate these considerations. Ultimately, your decision should reflect your unique needs and goals as a property owner or investor.

For expert property management in the Southern Coastal Corridor of Perth, contact Alicia McCulloch on 0459 185 872 / [email protected]