Getting Your Property Manager Locked In Before Settlement
Buying an investment property that’s already tenanted can be a smart move. Rent is received and coming in, and there’s no need to find new tenants. But one important decision often gets overlooked in the excitement of settlement: who will manage the property once you take ownership?
The good news? You don’t have to stay with the current agent.
In fact, reviewing your options early can set your investment up for smoother management, happier tenants, and better returns from day one.
What to Look For Before Settlement
1. Experience With Takeovers
Choose a manager who regularly handles tenanted property transitions. They’ll know how to coordinate the paperwork, communicate with tenants, and make sure nothing falls through the cracks.
2. Local Market Knowledge
Your property manager should know the local rental market inside and out, including what rent the property should be achieving, what tenants expect, and what minimum standards apply.
3. Strong Communication
Your manager should make things easy from the start, explaining next steps clearly, updating you on key dates, and ensuring both you and the tenants feel informed and supported.
4. Attention to Compliance and Minimum Standards
Ask if the property has current smoke alarm and meets the required minimum standards. A good manager will double-check all of this as part of the onboarding process, so you start your ownership on the right side of legislation.
5. Transparent Fees and Reporting
Look for a management team that offers straightforward pricing, detailed inspection reports, and clear financial statements.
Why Changing Managers Can Be a Smart Move
- Fresh Start, Clean Systems: A new property manager can audit the existing lease, ensure all compliance is up to date, and tidy up any previous oversights.
- Better Communication and Service: If the current manager hasn’t been proactive, a change can bring faster response times and clearer reporting.
- Optimised Rent and Maintenance: A new manager can provide a current rental appraisal, review maintenance priorities, and align everything with your investment goals.
- Improved Tenant Relationships: Professional, friendly management can turn a simple handover into a smooth, positive experience for tenants — reducing the risk of turnover.
Make the Transition Simple
At MIX Property Group, we regularly take over management of tenanted properties for new owners, handling everything from liaising with the selling agent and existing manager, to welcoming the tenants and ensuring minimum standards are met.
Our goal is to make your transition effortless, so when settlement day comes, your property is fully managed, compliant, and performing from day one.
Thinking of purchasing a tenanted property?
Let’s get your management in place early. Reach out to the team at MIX Property Group, we’ll make sure your investment is in safe hands before the keys even change hands.