Why does it pay to have a good property manager look after your investment?
It has never been more critical to engage an astute Property Manager to oversee your investment property. “The key to excellent property management is clear communication with your owners, tenants and contractors, which means straightforward, factual, and easy-to-understand dialogue,” says Rental Management Australia’s CEO Andrew Graham. ”Whilst there is a time for a written response, it’s about picking up the phone and having a conversation.”
Time-poor or a first-time or seasoned landlord? Finding the ideal Property Manager to take care of this important narrative and look after your very important asset can prove life-changing. “I have seen some nightmares with owners managing their own properties, and I personally would never do it,” Andrew says. “At Rental Management Australia, we are lucky to have an amazing and knowledgeable staff spanning five generations that can provide a great perspective on all areas of property management and the current market activity. This diversity and customer service being at the forefront of everything we do is key to our reputation and success.”
Simplify your life and take the very best care of your investment with the right Property Manager. Here are 8 ways they can help you right now:
They’ll demystify the fine print.
A landlord has various rights and responsibilities to uphold throughout a residential tenancy. They also have a lot of questions - what does the tenant’s bond cover? How do you end a tenancy? What are your rights if your tenant stops paying rent? Property laws and legislation can prove a minefield, especially for the inexperienced, yet they are second nature for an experienced Property Manager. “There is too much risk when you know what can go wrong,” Andrew says. “A good Property Manager mediates between owners and tenants and provides valuable third party perspective based on understanding current laws and legislation.”
They’ll find your ideal tenant.
Take the stress out of the search and let your Property Manager find your perfect tenant. Using a tenant check database, they can identify all the qualities you are seeking and have access to comprehensive screening systems that check everything you need to know, including rental histories. “It’s a crucial step in minimising risk and maximising returns,” explains Andrew. “A respected Property Manager understands the current market and offers marketing advice to obtain quality tenants and good solid rental income.”
They’ll liaise with your tenant.
A Property Manager is a buffer between you and your tenant allowing them to facilitate any potential property issues and the tenancy agreement on your behalf. “A happy tenant leads to a steady income and longer lease stability,” he says.
They’ll collect the rent & do the admin.
Your Property Manager will collect rent payments ensuring tenants are up to date, and if not, communicate with them on your behalf. “Your Property Manager has their finger on the pulse and can advise if you should raise your rent or undertake maintenance,” he says. They will also pay bills associated with the property, including municipal rates notices and bills for utilities like water, gas and electricity which is summarised in monthly and end of financial year statements
They’ll oversee maintenance and inspections.
Overseeing your property regularly, a Property Manager ensures all appliances and items are well maintained, services are up to date, and urgent repairs (up to a specified amount) are attended to. “They also ensure quality cost-effective contractors are selected, take care of any insurance claims on your behalf, and conduct regular inspections of the property to ensure it’s in good order,” he says.
Best of all, they’ll reduce stress.
A quality tenant is likely to stay longer which saves you money, time, and stress. It also lowers the chance of having a vacant property, which in turn, reduces the risk of lost income. “An experienced Property Manager helps preserve the property value, which is only a good thing,” he says. “Engaging a good managing agent takes away all the stress.”