WHY DOES YOUR INVESTMENT REALLY NEED A PROPERTY MANAGER?

Does your investment really need a property manager?

A common question for property investors is ‘Do I really need a property manager?’ Although using property management services involves some fee’s, a professional will SAVE you time and money far more than fees while reducing the stress associated with property investment. Here are a few good reasons why investors choose to engage property managers.

1. Late payments

Late rental payments are one of the most frustrating aspects of property investing. With a property manager, you don’t need to chase late rental payments. The property manager and/or the accounts department will receive and track all payments. If a payment for rent and/or outgoings is not paid on time, the tenant will be notified and payment requested until payment is received.

2. Legislation updates

Property managers keep up to date with the legislation which changes over time. This means they can assist you with quick answers to your queries with a broad understanding of legal issues.

3. Thorough background checks

Property managers have access to databases that enable them to access information other property managers have entered regarding the prospective tenant. If the prospective tenant is not suitable for the property and the information has been included in the database prior to any documents being signed — you can make your decision with a better understanding of the prospective tenant’s past behaviour and circumstances.

4. Relationships

When a landlord manages an investment property, the relationship with the tenant might not remain strictly professional. With the landlord being involved in the property on a day-to-day basis, the tenant may use the relationship to their advantage we see this regularly e.g. No rental increases. With a property manager, however, the relationship remains professional.

5. Regular property inspections

Condition reports at the beginning of a tenancy, annual routine inspections and a vacate report are essential for smooth management of an investment property. Annual reports can identify outstanding maintenance items that have not been reported or changes in the tenant’s use of the property which can be very important. With regular property inspections and reports, make-good requirements are clear and the process is smooth when a tenant vacates the property.

6. Maintenance issues/ongoing servicing

A property manager will arrange any maintenance that the tenant has requested. Should equipment require ongoing servicing, a property manager will be able to ensure all equipment is serviced when due.

Property managers can assist you in all your property needs, ensuring your investment performs at its best and is well maintained, with little time required as a landlord. This decreases the stress of property investing and gives you peace of mind.

For Further information or enquiries please contact Brianna Jacobs on (03) 9463 6900