On finding good property managers: ‘Follow the person, not the brand’
MJ Anthony has always believed in the value that is added by good and reliable property managers throughout his 13-year investment journey, where he was able to build a 12-property portfolio worth more than $2 million.
According to the property investor, one of the most important things he considers when hiring property managers is the number of assets that they are currently managing.
“If they're managing hundreds and hundreds and hundreds, per one manager, then they're obviously not gonna spend the time to look after you,” MJ said.
Right now, he has two property managers in his own financial team to help him look after his real estate assets in regional towns and capital cities. Before taking them with him in his property investment journey, he made sure to study their works throughout their careers.
One of his property managers—Kristy Lord from Johnston & Dixon Quality Properties—have been working with him for the past seven years, and the simple secret to their strong professional relationship has been constant communication and an understanding of each other’s needs, capabilities, and limitations. While Kristy has been with different agencies and companies, her own individual works proved that she could handle property management well.
The property investor shared: “She's brilliant—the whole team is brilliant. [It all comes down to] how quickly they respond to emails, how quickly they respond to phone calls, how they vet the tenants, [and] basically how to do their job.”
His advice for his fellow property investors looking to hire property managers: “Follow the person, not the brand.”
“I've just followed her almost like a sheep… She's an awesome property manager and it's very hard to find people with that sort of quality,” MJ said.
“You get yelled at all the time, you've got tenants who don't care, you've got tenants who don't pay, you're constantly nagging. It takes a certain individual to be able to do that really well.”
For the past 13 years, MJ believes that he was able to avoid any “nightmare tenant problems” because of his property managers, as well as his being proactive in all of the decision-making processes.
As he goes on to work on his goal of holding 100 properties and securing $500,000 of income every year for himself, the property investor will continue using property managers, as well as other property professionals, to guide him through his journey.
Tune in to MJ Anthony’s bonus episode on The Smart Property Investment Show to know the essential things to observe when appointing a new property manager and how to avoid being a difficult landlord yourself.
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