In today’s uncertain times, with Covid and regular regulation updates regarding rental properties, it can be daunting to own and manage an investment property. As well as managing the day-to-day upkeep and rent collection, you also have to stay up-to-date with regulation changes relating to the pandemic. That’s why engaging a professional property manager has so many benefits.
Here are just 5 reasons why it is important to have a good property manager.
1. A property manager will find your ideal tenant
First and foremost, a property manager can market your property and find you the perfect tenant. This means that you don’t have to go through sometimes 100s of applications, interview prospective tenants and then check their references and other details.
A property manager handles all of this on your behalf and then gives you a small selection of the tenant applications that they feel would be most suitable for your property. This way, you don’t have to do all the legwork, but you do still get the final choice as to who will rent your property.
2. All the paperwork is done for you
A lease is a legal document and needs to be prepared carefully. When you engage a property manager, he or she will draw up the lease agreement and present it to the prospective tenant to sign. You will also get a copy of the agreement to review and sign.
A property manager is responsible for collecting and lodging the bond and will collect the rent for you. This takes the worry of chasing up the regular payments out of your hands and you can sit back and enjoy the regular rental income.
3. All maintenance issues are handled for you
It’s a given that there are going to be maintenance issues that will crop up with your investment property from time to time. As a landlord, it’s your responsibility to deal with these issues, as and when they arise.
However, if you have a property manager looking after your rental, this will all be taken care of for you. The property manager will take the time to build up rapport with your tenants so that the tenants will feel confident reporting any minor issues before they become major.
Your property manager will get in touch with qualified local tradespeople to get some quotes for the work that needs to be completed. He or she will then communicate with you and you can give the final go-ahead for the work to be completed.
4. Regular inspections
A property manager will also conduct regular inspections of the property to ensure that it is being well looked after by the tenants. This gives you peace of mind that your property is in safe hands.
It also gives the property manager a chance to speak with the tenants to continue building up that good rapport. Remember that a tenant who is happy and appreciated is likely to stay on and keep the rent coming in.
5. A property manager stays up to date with regulation changes
These days, rental property regulations are changing constantly and it can be hard to keep up. A professional property manager has access to resources from within the industry to stay informed about regulation changes and amendments.
This means that you don’t have to worry because your property manager will keep you informed and make sure that your property is compliant at all times.
Talk to us!
Engaging a property manager for your rental property gives you peace of mind and takes away the worry of managing your property – and it’s fully tax deductible. We’re here to help, and manage many properties in Mount Gambier for our valued clients. If you currently have a property that you need managed, please feel free to give us a call.