We’re halfway through the year.
So it’s time to ask a simple question:
Is your property management actually helping you meet your investment goals?
If your rental returns are lagging, your property has sat empty for too long, or you’re feeling out of the loop, it might be time to take a closer look.
Now’s the moment to review your property manager and make sure they’re still delivering.
Rental Income vs. Market Conditions
Key question: Are you charging the right rent?
With rents climbing across suburbs like Kogarah and Carlton, undercharging can cost you thousands each year. Yet some landlords hold off on increasing rent out of fear they’ll lose a good tenant.
Here’s the thing: a skilled property manager knows how to strike the right balance. They’ll ensure your rent stays aligned with the current market conditions without creating unnecessary turnover.
If your rent hasn’t been reviewed in over 12 months, or worse, since the last lease started, you could already be falling behind.
Tip: Ask for a detailed rental market comparison. Your property manager should be able to show how your current rent stacks up against similar properties.
Vacancy Rates and Tenant Turnover
Key question: How long has your property sat empty this year?
Every day your investment is vacant, you’re losing money. If your property took more than a few weeks to lease, or worse, if it’s happened more than once, it’s time to dig deeper.
High tenant turnover could also signal poor screening or a lack of care in tenant selection. A good property manager attracts long-term, reliable tenants and ensures each vacancy is filled quickly and strategically.
Communication and Transparency
Key question: Are you getting real updates, or just a monthly statement?
Your property manager should be proactive in communication, not just a responsive one when being tapped. If maintenance issues go unreported until they’re urgent or you rarely hear from your manager unless you chase them, that’s a red flag.
You deserve regular check-ins, quick responses, and full transparency. After all, it’s your property, not theirs.
Can you call them when needed? Do you feel confident that you’d be the first to know about any serious issues?
If not, it’s time to reassess.
Maintenance and Repairs
Key question: Are issues being fixed before they become expensive problems?
Landlords in NSW are legally required to keep rental properties in a “reasonable” state of repair, taking into account the property’s age and rent charged. But waiting until things break isn’t good management. It’s poor planning.
Preventative maintenance should be part of the plan. That means regular inspections, prompt attention to repair requests, and access to reliable, cost-effective trades.
Are repairs delayed or do tenants report recurring issues? You may be footing the bill for a manager’s inaction.
Compliance and Legality
Key question: Are you confident your property is fully complying with the latest regulations?
A lot can go wrong if your manager isn’t following the regulations. In NSW, smoke alarms must be tested and maintained regularly. If you’re relying on strata alone, you could be in breach.
Your property manager should be adhering to all compliance requirements and work to protect you from fines, insurance complications, or legal issues.
Time for a Change?
If any of these sections raised a red flag, it might be time to review your property manager and consider a new approach. Your investment should be stress-free and income-generating, not a constant source of stress and burden.
At Mclaws Property, we offer honest assessments and hands-on support for property owners who expect more.Book your free mid-year property portfolio review today. Let’s make sure your property management is still as effective as you envisioned it to be.