If you’ve decided to hire a property manager — smart move — then the next question is: how do you actually find a good one? Not all property managers are created equal, and the difference between a great one and a lazy one can cost you thousands of dollars a year in missed rent, poor maintenance, and high vacancy rates.
What does a property manager actually do?
A property manager handles the day-to-day running of your investment property. That means finding and screening tenants, collecting rent, handling repairs and maintenance, managing lease renewals, dealing with disputes, and keeping up with changing tenancy laws in your state. In return, they charge a management fee — typically between 5% and 12% of weekly rent depending on the state and level of service.
5 things to look for when choosing a property manager
1. How many properties does each manager handle?
Ask how many properties each individual property manager looks after. If the answer is 150+, that’s a red flag. A manager stretched too thin won’t give your property the attention it needs. Aim for someone handling under 100 properties.
2. How do they handle maintenance requests?
Ask specifically: “If my tenant reports a maintenance issue, what’s the process?” A good manager has a clear system — tradesperson network, approval thresholds, documentation, and follow-up. Vague answers here usually mean disorganised processes later.
3. How do they screen tenants?
Ask if they use TICA or NTD (tenancy databases) for background checks, what their reference-checking process looks like, and how they verify income. Don’t settle for “we do our due diligence” — ask for specifics.
4. How do they communicate with landlords?
Some managers send quarterly reports. Others update you proactively. Neither is wrong, but you should know what you’re signing up for before you commit.
5. What are ALL their fees?
The headline management fee isn’t the full story. Ask about letting fees (usually 1–2 weeks rent), lease renewal fees, inspection fees, and admin fees. A manager charging 7% with lots of add-ons can end up costing more than one at 9% with everything included.
How to find candidates
Look at which agencies manage properties similar to yours in the same suburb. Check their rental listings — are they well-presented? Call them pretending to be a prospective tenant and see how they handle it. That tells you a lot.
Ask other landlords for referrals. A word-of-mouth recommendation from someone satisfied is worth more than any online review.
Don’t overlook the exit clause
Before you sign a management agreement, check what it takes to leave. Some agencies lock you in with lengthy notice periods or penalties for switching. You want a clear, simple exit clause — 30 or 60 days written notice should be plenty. If they make it hard to leave, that tells you something about how they operate.
Questions to ask at your first meeting
Before committing to any property manager, sit down for a proper interview — in person or on a call. Ask how long they’ve been managing properties in your specific suburb, what their current vacancy rate looks like across their portfolio, and how quickly they typically find replacement tenants. Ask what software they use for rent collection and maintenance tracking. These aren’t trick questions — a good property manager will answer them confidently and with specifics. Vague or defensive answers are a red flag.
The Real Estate Institute of Australia maintains a directory of licensed agents if you’re starting your search from scratch and want to verify credentials.
Once you’ve signed on, stay engaged. Review your annual statements, query repairs that seem expensive, and check in on routine inspection reports. A good property manager welcomes an involved landlord. It’s also worth understanding your own obligations in the relationship — our guide to landlord rights and responsibilities in Australia covers what you’re legally required to do as a property owner.
General Advice Warning: This article is general in nature and does not constitute personal financial advice. Please consult a licensed financial adviser before making investment decisions.
