Why Invest In A Property Manager

Although many residential and commercial property investors use a Property Manager, their service is often not fully appreciated. If you want to be able to scale your portfolio a Property Manager is a key part of your professional team.

Why Invest In A Property Manager

Compliance

Legislation is forever changing and is a potential minefield if you do not know what you are doing or where to find the correct information. Property Managers are trained in the latest legislation for the State or Territory that your investment property is located to help ensure you avoid any costly mistakes.

An example of some of the basic requirements when managing a tenant are*,

• Application forms

• Entry condition reports

• Review breach notices

• Tenant ledgers

• Lease agreements

• Tenant details and ID verification

• Smoke alarm compliancy certificates

• Change of lessor/managing agent

• Bond lodgements

• TICA searches

• Legislation updates for each state and territory

Marketing

Without rental income the very best investment property is unlikely to meet the investors expectations so finding the right tenant, for the right rental return and the right terms is paramount.

A good Property Manager will,

• Minimise vacancy periods for your property by maximising the efficiency and reach when advertising.

• Save you time by managing the viewing process that often requires weekend work.

• Negotiating the lease to ensure that you are getting the best rental yield while remaining competitive in the market and thus minimising vacancies.

Managing Tenants

An investment property is a business where you offer accommodation for a fee, therefore looking after your clients (the tenants) and meeting their expectations is extremely important if you want to retain high quality tenants.

Property Management services include,

• Organising repairs and maintenance when required and ensuring the work is done on time and of high quality.

• Property inspections to make sure that the property is in good condition for the tenant.

• Dispute resolution so that you can remain at arm’s length and that matters are resolved in a professional timely manner in accordance with legislation.

Managing The Estate And Cash Flow

Your property needs consistent cash flow and it also has to increase in overall value. Like most things in life, it is always better to deal with issues sooner rather than later.

A Property Manager can,

• Inform you of upcoming maintenance needs of the property so that they are delt with early.

• Make sure rent is collected on time and keep an up to date rental ledger.

• Ensure that the tenants understand their responsibilities in maintaining the property.

If you want to be able to scale your portfolio a Property Manager is a key part of your professional team.

Need help finding a high quality Property Manager for your investment? Contact Us and we will be happy to help.

*(Compliance Examples) This is only an example of some of the requirements that may be required for a QLD based property. This will change depending on the individual circumstances of the property as well as what state or territory it is located in.

Disclaimer: The views of the author, either expressed or implied, may not represent the views of Astute Property Network Pty Ltd. Every effort is made to ensure the accuracy of the information contained within this document. The information is not intended as financial advice and does not take into account your personal financial position or needs. You should always consult your financial specialist before making any changes to your finances.