Why You Don’t Have To Use A Local Property Manager
A common question we come across when we are meeting new potential landlords is “isn’t it better for us to use a local agent?” or “do you cover this area?” Our answer is always and always will be, “a local agent isn’t the best choice simply because they’re local, and at Savoy Real Estate, we cover everywhere.” Here’s why!
Guess how most people find a property to rent? The internet! Websites such as realestate.com.au, Domain, Homely etc. are the most common resource used by tenants searching for a rental property. It’s uncommon for tenants to go into a physical office, search the local paper or drive around looking for ‘for lease’ boards to find a rental property. This alone, makes the location of your chosen agent irrelevant when it comes advertising your property for rent. All agents can advertise in any suburb or town via the internet.
In Victoria, a property manager can inspect a rental property once every 6 months, with the first inspection able to be done after the first 3 months. This means, in most cases the property manager will only need to make the trip to the property twice a year. Any property manager who can manage their time well will have no problem doing this and will even have time for those extra visits to check maintenance, meet a valuer on site or meet with insurance assessors should the need arise.
Although leasing a property that is further from the office may be more time consuming, proper planning of open for inspections and private inspections is perfectly manageable. It’s about checking what other open for inspections are on in the area and planning your inspections accordingly and lining up private inspections at a suitable time or even potentially turning the private inspection into another open for inspection.
Should your property be quite a distance from your preferred agent, leasing can still be possible by utilising the services of a local agent to run the open for inspections, while your agent does the advertising, background checking and management of the property. (Note: fees from the local agent running the open for inspection will apply).
Digital and Cloud Based Technology
With technological advancements in the property management industry, it’s much easier to manage properties in any area. For example, at Savoy, we use cloud-based trust accounting software which we can use to access all our data on the move in combination with a digital filing system that gives us the same ability to access our files on the move. At any time, in any location, we can give our clients the information they need instantaneously.
We have clients who live overseas and interstate as well as properties that are an hour and a half away from our office. All these clients have access to our online portal system which gives access to all their important documents. Should they need assistance, no matter where their property manager is, they’ll be able to access any additional information required.
Local Area Knowledge
I often find that potential clients believe that a local agent has local knowledge and local contacts so that makes them the better choice. Yes, some agents may live in the local area as well as work there, and I’m sure they will have local knowledge and contacts. But when it comes to valuing your property, the information that is used to do this is available to all agents. It’s a simple task of comparing your property to recently leased properties and those available on the current market. When it comes to local contacts for maintenance or other requirements it’s very easy to find reliable trades in the area through recommendations and a thorough search and reading of reviews, which is probably how your “local agent” found them in the first place.
Some believe a local agent has a “database” of tenants searching for a property who they can advertise your property to. The average tenant will find a property within 1-4 weeks, so any “database” of clients is probably reasonably useless as they don’t stay a potential tenant for long enough, rendering the data outdated.
It All Depends On Effort
The area an agency can cover is all dependent on the effort they’re willing to put in. Some agencies prefer to focus on their local area, that’s fine. But don’t rule out agents like us at Savoy when you’re making your choice. We have the same ability as any local agent, we put the upmost priority on all properties, regardless of location, and any service we provide is available to every property under management.
This leads onto two other articles I’ve written, “A Cheap Agent Vs A Good Agent” and “What Your Property Manager Should Be Doing For You.” Rather than just taking into account the location of the agent, there are much more important issues to consider outlined in those articles.
How Far Does Savoy Cover?
We cover everywhere! If you need a great agent in Geelong, Seymour, Frankston, Melbourne CBD, Belgrave, Pakenham, Healesville, Hillside, Yarraville or anywhere else, get in touch! Check out our short video below!
Aren’t happy with the choice of local agents in your area? Feel free to contact Jess at Savoy Real Estate on 0417 787 985, he’ll be sure to help you out.
* The above information is general in nature and may not apply to your situation. The above information is in accordance with the current legislation as at the 26th of July, 2018.