Here are five reasons why a Victorian property investor needs a great property manager

We have always been supporters of the need for a great, independent, and local property manager. I’ve written extensively about this, including identifying the measure of a great property manager.

More than ever before, Victorian property managers professionally cover so much. The magnitude of our legislative changes have been unmatched by any other state, and compliance regimes are significantly greater in number. The industry as a whole has been put under enormous pressure, and landlords require significantly more from their property manager these days.

Gone are the days where it’s merely a case of collecting rent, providing condition reports and advertising for lease. In fact, those days never really existed, because there is much more to property management than just this. However, in 2025, changes are still being rolled out, and legislative change is still unfolding.

There are five key things that a great property manager brings to the table. When we find a property manager who can deliver all of this for our clients, we keep them firmly on speed-dial.

1. Legislation and guidance on implementation of minimum standards for items. The pace of change in relation to minimum rental standards has many confused. Specific start dates, new standards and documented changes are all now part and parcel of a good property manager’s wheelhouse. Many will spend time with their landlords, explaining how to cost-effectively update items. For professionals like us, our trusted property managers will overview shortlisted properties and identify problematic properties or cost-effective opportunities.
2. Getting the right renters for the property. It’s all well and good to get a property let quickly, but when the renters aren’t the right fit for the property, troubles can arise. A great property manager will be prepared to push back on their clients when an applicant isn’t the right fit. A small vacancy is far better than a problematic renter.
3. Managing repairs and maintenance. Great property managers have good trades and contacts. They harness these relationships and get the best results for their clients. They also know when to push a landlord firmly to repair essential items, or to diminish the lasting effects of further degredation.
4. Pricing the property correctly. Being greedy with rent can be problematic, as can being priced below market. A great property manager will use comparable rental analysis to prepare their clients for a fair market return. They will avoid situations that are unfair on renters and they’ll be attuned to regular rental updates when the time is right for a changed rental figure. Not only will they price the property correctly, but they’ll communicate this respectfully with the renter as well as their landlord.
5. Tenure of great tenants. The only thing that is better than happy tenants, is happy, long-term tenants. The cost of re-letting isn’t to be sneezed at. In addition, the likely cost of added maintenance invoices in between renter tenures needs to be acknowledged. A great property manager identifies tenants who are more likely to stay longer term when they make their early leasing recommendations.

I compiled this chart five years ago, and it still stands.

To all of our trusted, reliable and outstanding property managers that we lean on, thank you.