Choosing the right property manager – is a local agent essential?

property-manager

When it comes to choosing an agent to manage your property, are you better off with a local or metropolitan agent?

On the one hand, a local agent may have neighbourhood knowledge about your suburb and a concentrated network to draw upon. On the other, a metropolitan agent is tapped into broader market trends, which they can leverage to help you strategically grow your property portfolio.

In this blog, we explore the pros and cons of working with a local agent, so you can make an informed decision.

Benefits of local agents

Local knowledge

An agent who works exclusively in a particular suburb will have local knowledge. From sales history to market trends, they’re well-placed to develop an informed assessment of your property’s value and rental potential. A local agent can also provide recommendations on the kinds of features you may consider adding to your property to make it more attractive in your suburb.

Familiarity

Knowing the suburb and being known within the suburb often translates to community trust. It also means that when your agent is making their sales or rental pitch, they sound confident and informed. By conveying their own appreciation for the area, a local agent can get interested parties on side and put them at ease.

Local network

A local agent will likely have a database of potential tenants or buyers. They can tap into this as soon as your property hits the market, creating a sense of buzz around it. If your property’s a rental, a local agent can also make an informed recommendation on local tradespeople for any routine maintenance or repairs you need to undertake.

Thinking about hiring a property manager to look after your rental? Read our essential checklist before choosing one.

Limitations of local agents

Potential bias

The flip side of extensive local knowledge is the potential for bias to creep in. A local agent may be inclined to overestimate the value of properties in their suburb because it’s in their interest for values to be higher. They may also counsel you to invest further in the same suburb, even if a more diversified property portfolio would better suit your financial goals.

Limited perspective

A local agent may also suffer from tunnel vision. By being super clued in on the trends and history of a particular suburb, they can miss broader developments that are changing the wider property landscape. Ultimately, this myopia can make it hard for a local agent to provide you with informed advice on other suburbs worth considering for investment.

Unable to consolidate portfolio

Imagine you have a portfolio of several rental properties across multiple suburbs. A local agent can’t manage all of them, so you’ll need to liaise with different agents to manage your various properties. The whole point of a property manager is to make managing a property portfolio easier – having different agents for different properties in different suburbs soon becomes complex and ultimately defeats the purpose of outsourcing your property management.

How to choose the right property management company for your needs

Deciding whether to work with a local or metropolitan agent ultimately comes down to scope.

If your property investment goal is to generate a solid ROI on one or two rentals in the same suburb, a good local agent is well-equipped to help you achieve this.

However, if you want to develop a broader, more diversified portfolio that’s informed by wider market trends, a metropolitan agent is the best choice for you.

At Access Property Management, we’ve worked across the Perth Metro area for over 29 years. We have the knowledge and expertise to help you build and grow your property portfolio and pursue your financial goals.

Our team is always here to help. Get in contact today and we’ll get back to you shortly to discuss your investment strategy.

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Shirley Smith

Founded
in1995


Our property management story

We are and have always been a family-run Perth property management company. Founded by Shirley Smith in 1995, the idea for Access Property Management was conceived when Shirley realised there was a high level of demand for dedicated property management agencies, a need not being met by the existing real estate market. The agency is now headed by Shirley’s daughter, Stacy Whiting, who joined the business in 1996, and her husband, Mark Whiting, who has been at the agency for over 19+ years. This longevity focus extends to Access Property Management’s dedicated team of qualified property managers, with most staff working at the agency for 12 years or more.

ORIGINAL FOCUS

Shirley’s original objective was to provide a closer link between property owners and high quality tenants provided by relocation companies and the corporate/executive sector. Over time we extended our services to better cater for the needs of all property investors and quality tenants, who were seeking a higher level of service, focus and experience.

29+ YEARS EXPERIENCE

For over 29 years, our family-owned property management business has impacted the real estate industry in Perth Metro, and based on our results, we’ve established a strong reputation for integrity, distinction and innovation in real estate and management services.

Meet our team of dedicated property specialists.

“Many thanks for your help.  I have a couple of other properties and you guys are by far the easiest to work with and most professional.”

Dean – Owner

“Mark, Stacy and the team at Access you are a pleasure to do business with. I highly recommend to anyone that requires high level, professional property management.”

Brett – Facebook

“I have rented through Access twice since 2010 and both times have been great, particularly the last time when I rented in South Perth and my rental agent was Kelly Duncan. What a delight she was and is and nothing was too much trouble. Thanks Kelly for such a great experience. Shame I couldn’t stay with you.”

Vanda – South Perth – Facebook

I would like to personally thank Kelly for her professionalism and pleasant manner when we were applying for a rental. My son Jarrod (18yrs) & daughter Nicole (22yrs) had been applying for rentals all of January with no success & I was disappointed that some of the agencies hadn’t even followed up on their good references to allow for a fair assessment of their application. As Kelly would know we were successful in this application but had to decline as we were also successful in purchasing a property in that same week. Kelly was very understanding and a pleasure to deal with. I will highly recommend your agency .

Heather – Prospective Tenant

“I have been using their services as a tenant, and I can say its an amazing experience. They are prompt at everything and quite helpful. Alongside, the property manager carry a great professional work ethics which is wonderful. You, as a tenant always feel accompanied by your property manager. Cheers.”

Rahul – Google

“I rented a property through Natalie at APM. She was attentive, proactive and professional – everything you could want in a property manager (as a tenant and as a home owner, as I am myself also). I highly recommend APM, their professional staff and convenient services.”

Daniel – Mt Pleasant – Facebook

“It is always fantastic to deal with Stacy and the team at Access Property Management. Highly recommend to anyone!”

Anike – Facebook