Buying an investment property takes a lot of research, but the decision about who will look after it once a tenant moves in often gets far less attention. For many owners in Melbourne’s north, the property manager ends up being the person who shapes their day-to-day experience as a landlord. A little time spent asking the right questions at the start can save a lot of frustration later.

A sensible place to begin is with who will actually manage the property. Some offices assign a single manager to each rental, while others split tasks between a leasing team, a routine inspection team and an accounts team. Neither approach is wrong, but it helps to know who your main contact will be, how many properties they look after, and who steps in when they are on leave. A manager with a very large portfolio may simply have less time for each owner.

Communication is the next thing worth pinning down. Ask how quickly enquiries are usually answered, whether updates come by phone, email or an online portal, and how often you will hear from them when nothing in particular is happening. Some owners like a short note after every inspection, while others only want to hear when a decision is needed. A good manager will ask which you prefer rather than assume.

Leasing is where an investment property earns its income, so it is worth asking how a vacancy is handled. How is the asking rent set, and what comparable rentals will they show you? How are applications assessed, and will you have a say in choosing between suitable applicants? It is also reasonable to ask how they approach screening fairly and within the rules, since Victorian rental laws place clear limits on what can be asked of applicants.

Maintenance is often the area that causes the most friction between owners and managers. Ask how repair requests are triaged, which tradespeople they use, and whether you can nominate your own. Many owners set an approval limit, so small jobs can be fixed promptly while anything larger comes to them first. Urgent repairs are different, because renters are entitled to have them dealt with quickly, so it helps to understand how the office handles a burst pipe or a failed heater outside business hours.

Routine inspections and compliance deserve their own conversation. Ask how often inspections are carried out, what the report includes and whether photos are provided. Victorian rental properties must meet minimum standards, and there are recurring safety checks for gas, electrical and smoke alarms. A manager should be able to explain how they keep track of these obligations and remind you when something is due, rather than leaving you to discover a gap later.

Fees should be clear from the outset. Management is usually charged as a percentage of rent collected, but there can also be leasing fees, advertising costs, inspection fees, end-of-financial-year statements and charges for attending tribunal hearings. None of these are unusual, but the total is what matters. Ask for a written summary of every fee that could apply over a typical year so you can compare offices on the same basis.

It is also worth understanding the agreement itself. Ask how long the management authority runs, how much notice is needed to end it, and what happens to keys, records and any rent held in trust if you decide to move on. Estate agents in Victoria must be licensed, and Consumer Affairs Victoria publishes general information about what owners can expect from a managing agent, which is a useful reference before signing anything.

Finally, pay attention to how the conversation feels. A manager who listens to your goals for the property, explains things plainly and is honest about what they cannot promise is often a better long-term fit than one who simply quotes the highest rent. Renters notice the difference too, and a well-run tenancy tends to be a more stable one.

If you own a rental in Thomastown or the surrounding northern suburbs and would like to talk through how a property is managed, the Northlink team is happy to have a no-obligation conversation on 03 9119 1199.

This article is general information only and is not legal or financial advice. For advice about your own circumstances, speak with a qualified adviser, accountant or legal professional.