Your property manager is the single most important relationship in your investment property. A great property manager protects your asset, maximises your rent, finds quality tenants and handles every compliance obligation. A poor one costs you money, time and stress. Here is exactly how to find the right one.
What Does a Property Manager Actually Do?
- Advertises the property and finds tenants
- Conducts tenant screening and reference checks
- Prepares and executes the lease agreement
- Collects rent and manages arrears
- Conducts routine inspections (typically every 3-6 months)
- Coordinates maintenance and repairs
- Manages bond lodgement and claims
- Handles lease renewals and rent reviews
- Manages VCAT/tribunal applications if required
- Provides monthly statements and end-of-year tax summaries
What Questions Should I Ask a Property Manager Before Signing?
| Question | Why It Matters |
|---|---|
| How many properties does each manager look after? | Over 120-150 properties per manager is a red flag — service quality drops |
| What is your average days to let? | Lower vacancy periods = higher rental income for you |
| How do you handle maintenance requests? | Look for a clear process with preferred tradesperson network and cost approval thresholds |
| What is your arrears management process? | You want a clear, proactive rent arrears policy — not chasing landlords to chase tenants |
| How often do you conduct inspections? | Quarterly inspections are standard in VIC; less frequent may indicate poor management |
| Who handles my property if my manager leaves? | Staff turnover is high in property management — ask about handover processes |
What Fees Should a Property Manager Charge?
| Fee Type | Typical Range (VIC 2026) |
|---|---|
| Management fee | 6.5% – 9% of gross rent |
| Letting fee | 1-2 weeks rent |
| Lease renewal fee | 0.5-1 week rent |
| Routine inspection fee | $0 – $55 per inspection |
| VCAT attendance fee | $66 – $165 per hour |
Source: REIV fee guidelines and market comparison, June 2026.
Red Flags to Avoid
- No dedicated property management department (sales agents doubling as PMs)
- Slow response times during the enquiry process
- Unable to tell you current vacancy rates or days to let metrics
- No written management agreement or vague fee schedule
- Unwillingness to provide landlord references
GeeVee Verdict
The best property managers are proactive communicators with systems-driven operations, low vacancy rates and a genuine specialisation in rental management rather than sales. Interview at least three managers, check Google reviews, and ask for current landlord references before signing. The management fee difference between a good and poor manager is trivial compared to the rent difference they deliver.
Frequently Asked Questions
Can I switch property managers mid-tenancy?
Yes. You can change property managers at any time by giving the required notice under your management agreement (typically 30-90 days). The existing tenancy continues unaffected.
Should I choose a local property manager or a national chain?
Local, specialist property management agencies typically outperform national chains on service quality, local market knowledge and tenant relationships. Bigger is not better in property management.
What is a rental appraisal and is it free?
A rental appraisal is an estimate of what your property would rent for in the current market. Reputable property managers provide this free of charge as part of the onboarding process.
Whether you’re buying your first investment property, building a portfolio, or exploring SMSF property investment, the Collings Property Platform gives you access to off-market opportunities, portfolio tracking, investment tools, and property insights powered by GeeVee AI. Join free today and start building your property future. collings.com.au/portal
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