Property Management in Victoria
There have been outstanding gains in Victoria’s property market over the last 12 months, with the state recording a median house price of $490 thousand and a unit median price of $458 thousand. These numbers being so close indicates the high value of high density properties, typically units in urban areas, suggesting that many of the state’s property managers may be specialised to manage units.
In the culturally rich capital, Melbourne, there has been massive property growth, with houses up 6.6% and units up 2.7%, with notable growth near inner city shopping precincts Chapel Street and Smith Street.
What you need to know about property management in Victoria
Property management concerns to several key elements, which act as the link between landlord and tenant. In rural farming towns, like Shepparton in the north, it’s important for property managers to be experienced with managing larger properties, as the necessary support differs from that of more urban properties.
All manner of properties fall under the service of property management, from large apartment complexes to sprawling farmsteads, meaning that essential responsibilities, such as tenant liaison, rent management and property maintenance can all vary.
What to consider when finding the right property manager for your property
- In regional holiday towns, like the snowfields of Mt. Buller, property managers who are able to advertise to a specific clientele are of great use.
- Making sure that the agent in charge of your property is someone you can get along with, as these partnerships have the potential to last for years.
- In metropolitan areas, property managers who can respond quickly to rental applicants are very beneficial, as many applicants apply for several properties, accepting the first offer given to them.
Want to find a property manager in Victoria?
To compare quotes from local property managers in your neighbourhood use AgentsCompare. It’s an impartial, 100% free, online service allowing you to request no obligation quotes from agents in your area. Registering your property is a great way to get a head up in the competitive market.
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