The top 5 reasons to hire a property manager
A good property manager can be the difference between an investment that steadily reaps a return and one that is a stress to manage.
But how does a property manager help, and what do they offer that makes them such an essential team member when it comes to owning a rental property?
Here are the top five reasons to hire a property manager…
Setting the right price
The right rental price is critical to attracting the right rental occupier for your property. Set the price too high and it deters prospective renters.
Set it too low and you do not receive the income you deserve for such an important financial asset.
With a comprehensive insight into what rental properties are available in your area along with the rice they command based on current demand and supply, a property manager is best positioned to help you navigate that balance.
Finding the right rental occupier
Arguably, the most important element of owning a rental property is finding the right rental occupier to be the custodian of that asset.
A good property manager uses a range of techniques to secure that rental occupier, including advertising and marketing, along with accessing their database of prospective renters.
They also then screen any applicant thoroughly, checking their employment status, rental history and references.
This helps safeguard your asset, giving you peace of mind the rental occupier is who they say they are and will honour the terms of the rental agreement.
Collecting the rent
Owning a rental property is an investment in your financial future, and in the process it should offer a solid and consistent return through the collection of weekly rent.
A good property manager has systems and procedures in place to ensure that rent is collected each and every week, and then dispersed accordingly.
Staying compliant
Behind the scenes there is a lot of legislation that governs the rental of any property.
As an expert in the real estate industry, your property manager remains abreast of all changing legislation and how it affects both you, the rental owner, and the rental occupier.
This ensures there are no nasty surprises and allows your property to remain safe, secure, and compliant with the law.
Managing all parties
An often underrated component of property management is the skill it takes to communicate and negotiate with all parties involved.
From managing rental occupier inquiries to renewing rental agreements and organising repairs with tradespeople, a property manager is a master negotiator, liaising with all parties to protect the investment property, and the rights of the individuals involved.
You can read more about the key questions to ask your potential property manager here.
How we can help
Our experienced property managers pride themselves on establishing great relationships with both rental occupiers and owners.
We manage every property as if it were our own and you can learn more about our property management services here.
Alternatively, if you are looking to rent a property, you can view the properties we currently have available here.
