Are you experiencing issues with your current property manager and considering a change?
There are many reasons property investors choose to change property managers. Below are the most common factors driving landlords to switch to Award Group Real Estate.
Poor communication
If you constantly find yourself searching for the person responsible for your property, you’re not alone. Many property managers are overloaded with unrealistic portfolios, leading to burnout, missed tasks and long delays.
When they eventually leave the agency, it can take months to replace them — and even longer for a new manager to understand your property.
Getting Passed Around the Office
If you constantly struggle to reach the person responsible for your property, you are not alone. Many property managers are overloaded with portfolios beyond what they can reasonably manage.
This often leads to burnout, resulting in tasks piling up, being forgotten, or left unresolved. When that property manager eventually leaves, it can take months for agencies to recruit and train a replacement — and even longer before they fully understand your property.
Extended Vacancy Periods
Every day your property sits vacant, your annual return decreases. A proactive leasing strategy should begin the moment your tenant gives notice.
Many agencies run only one short inspection per week — often with an agent who knows less about the property than the people attending — resulting in fewer applications and longer vacancy periods.
Poor Repair and Maintenance Management
Following up a repair request shouldn’t result in silence. Many agencies now outsource maintenance requests to offshore teams or third-party processors who have never inspected your property.
This often leads to work being approved without proper oversight — or worse, unnecessary or incomplete repairs being charged to your account.
Poor Quality Documented Inspections
Detailed inspections are crucial for identifying maintenance issues and ensuring your property is being properly cared for.
If your property manager isn’t conducting thorough in-going, outgoing, and routine inspections, minor issues can easily escalate into major, costly problems.
Lack of Industry Knowledge
Property management requires experience, sound judgement, and a strong understanding of legislation. If your property is being handled by an inexperienced or poorly trained manager, you may be exposed to unnecessary financial and legal risk.
Below Market Returns
There are several reasons a property may achieve below-market returns. The most common include:
- Missed rent reviews or inaccurate advice due to poor market knowledge.
- Outdated or misleading marketing materials that turn away quality tenants.
- Poor tenant selection and inadequate screening processes.
Steps to Change Property Managers in NSW
1. Review your current management agreement to confirm the required notice period.
2. Decide whether to terminate immediately or serve the notice period. Immediate termination still requires payment of the notice-period fees.
3. Provide written termination to your current agency and notify them of your new agency. Sign your new management agreement before the handover.
4. Once the file is transferred, your new property manager will contact your tenants and redirect rental payments.
5. Request a final EOFY statement for tax purposes. If not received at the time the fine is handed over or at the latest by early July, follow up to ensure your accountant has everything required.
Questions to ask when interviewing a new property manager
- Who will be directly responsible for managing my property?
- How do you handle after-hours or emergency repairs?
- Does your agency outsource or offshore any property management tasks?
- How are repairs and maintenance handled and approved?
- How many open homes per week will you conduct during vacancy, and who will run them?
- What is your tenancy screening and selection process?
- What are your average days on market for rental properties?
- Can you provide examples of recent routine and ingoing inspection reports?
- How do you manage bond claims and disputes?
- How long have you been working with this agency?
Ready to Make a Move?
If you’re considering switching property managers, call us on 9808 1199 or complete the appraisal request form below.
Our Head of Property Management and Licensee, Leighton Avery, will contact you promptly to arrange a free and confidential phone or in-person consultation.
Book your appraisal by clicking here