Do you need a Property Manager?
When managing your investment property, it is tempting to go at it alone as a property owner. Many of us hardly have enough hours in the day to manager our families, households, work, home maintenance, groceries, and other chores that we attend to in day to day lives. But once you have made the decision to purchase an investment property, you are responsible for managing your property, your tenants and you will need a property manager….
Maintaining your property and tenants do not go as well as you might imagine it would. As a landlord you will be dealing with many parties whether tenants or third parties for maintenance. This can lead to many issues, whereas with a property manager you can focus on your life while receiving returns from your investment property. A property manager acts like a middleman who deals with the people and issues, big or small. You can focus on the important things in life and to yourself, while a property manager makes your life easier and relaxed. With a property manager you will reap the benefits of your investment.
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Factors might make you think to engage a Property Manager
Here are some factors that make you think to engage a property manager.
You have limited time: rather than spending time on managing your property, dealing with tenants and bills, you could spend your time more wisely
You do not want to deal with the tenant:third parties are there for a reason to manage day to day tenancy issues, including sensitive and often difficult conversations such as property inspections, preleasing checks, bond inspections, etc. Using a property manager means you do not need to have those difficult and sensitive conversations, and will not need to be put in tricky situations
You may be living far from your investment property: Is not it good to have someone local and close looking after your investment. They can deal with situations straight away, instead of being delayed by distance, which will offer you peace of mind.
You’re either not interested in managing your investment property or have any interest in hands-on management: You may not want to choose to spend your days travelling to spend an entire day fixing problems, collecting rent, arranging repairs or having to do it yourself, conducting property inspections, keeping trust accounts, record and filing bongs, locating tenants, adjudicating disputes, managing tenancy breaches and reviewing endless lease paperwork and legislation, renewing rent and leases to name a few investment property related. That is just too overwhelming for one person, who already has work, their own household life, and their own maintenance to keep.
What are the benefits of using a Property Manager?
- No direct communications with the tenants; no unpleasant confrontations
- Proper checks on Tenant’s leasing history; fewer ‘problem’ tenants
- Negotiating strategies with the tenants
- Less stress; on-time rental payments
- Follow legal and legislative requirements while leasing the property
- Have more comprehensive insurance cover and other advantages.
- Lower risk in reducing the vacancy of the property; continued returns
A Property Manager is an asset to your investment property, allowing you to enjoy and experience life, whilst reaping the rewards and benefits of an investment property. Property managers allow you to get the most out of your investment, while maintaining and advising you on your investment legislation and management wise.
To get the most out of your property, please have a chat with our one of our Property Managers today or Call 0410 066 578
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