While privately managing your investment property may initially seem like it’ll save you money, it’s important to weigh up all the pros and cons. You may just find that a professional property manager is a worthwhile investment after all.
Most importantly, you need peace of mind that your property turns over the highest possible yield while ensuring the lowest number of headaches. Obviously though, using a professional property manager will come at a cost. On the other hand, by privately managing your property, you could be at risk of having to personally invest a lot of your time and money unexpectedly.
“At the end of the day, landlords just want to ensure more money in their back pocket.” says leading Business Development Manager, Emily Williams… “All of our landlords lead busy lives. In my experience, landlords who use a professional property manager are enabling themselves to leave all the time consuming matters to professionals. That way they can focus their time on continuing to expand their investment portfolios.”
Emily reveals for us her six reasons why she believes that engaging in a professional property manager to look after your investment is crucial.
Emily’s 6 Reasons To Hire a Professional Property Manager
A professional property manager will give you guidance as far as who they believe your tenant target market is. Tenancy applicants are thoroughly screened to give you peace of mind that you are securing good tenants. Good tenants pay their rent on time and look after your property. They typically stay longer too which means it’ll save you money in the long term.
A good property manager will employ and train their staff to ensure they are professional and efficient at managing all of the agency’s properties. By engaging in a professional to look after all the paperwork, you’ll find yourself dealing with fewer costly & time consuming legal matters. A professional property manager will always keep you informed with any relevant information pertaining to your property.
A professional property manager will conduct the lease renewal process 3 months prior to the tenants’ lease end date. 3 months is typically sufficient time to prepare if the tenants are going to vacate the property. When your property is up for lease, a good property management agency will always strive to ensure a quicker turnaround time. This is achieved when your property is marketed well with professional photographs, a premiere listing and a prominent sign board.
4.Maintenance & Inspections.
A good property manager will organise all of your maintenance on the property. This will ensure that all appliances and items in your property are well maintained & serviced. They will also manage any insurance claims on your behalf. Conducting regular inspections of the property will also ensure that your tenants are looking after your asset.
5.Paperwork & Bills.
Your property manager will pay all bills associated with the property. This will not only mean less work for you but will also be extremely beneficial to you at tax time!
When it comes time to sell, your property manager is available to give you professional and sound advice. This will include advice on the current real estate market and recommendations for the sales process.
Here’s some other property management articles we thought you might appreciate :
- How to Choose the Best Property Manager Made Easy
- 5 Things You Need To Know About Claiming Tax Depreciation On Your Property
- How To Choose the Right Landlord Insurance For You
- Insider Advice to a Quick Tenancy Turnaround
- Top 8 Stress-free Property Management Tips For Landlords