In many cases, the property manager has the responsibility of attracting tenants to the property. They need to create the accurate rental rate that should be set for your rental property by evaluating the current market. They will also suggest any maintenance and improvements that could increase the rental rate for your home.

Property management will advertise your home to prospective tenants to reach the largest audience of suitable tenants. Of course they screen tenants to ensure they will pay the rent on time and not damage the property.

The property manager can begin the termination process to legally remove the tenant if they do not pay the rent or breach their leases in any way. They file the appropriate paperwork and attend court hearings.  

The property manager will set up quarterly periodic inspections and take note of any issues. Of course, it goes both ways, and a property manager should also be looking after the tenants. 

It’s no use being reactive when proactive is better, for example, pointing out an issue such as a water leak that the landlord needs to get fixed to prevent damage and more costs.

Landlords can be educated by property managers to be conscious of any problems and particular laws.

Emma Gordon, who runs the property management division in Victoria, says property managers – or at least the good ones – now carry out many more tasks beyond finding you a tenant, collecting the cash and carrying out regular inspection.

“The key is a property manager now needs to be a risk manager, to educate the landlord on how to reduce the risk of being a landlord,” Ms Gordon said.

For starters, there’s building insurance and having to comply with the Residential Tenancy Act, owners’ corporation rules, smoke alarms, changes to notification periods for termination of tenancies and rent increases, the servicing of gas appliances, window safety and pool fencing legislation.

“There are just so many areas now where a property manager has to have knowledge,” she said.

Property managers are also usually the ones responsible for having any awkward conversations with tenants.

In this day and age the property manager works within a very heavily regulated environment and is required to know in depth the regulations that govern their industry.