You may have heard that most people who have investment properties use property managers, but why? Why give a percentage of your money to someone else?
Here’s why many people love working with property managers.
They Find High-Quality Tenants
Tenant screening is a long process, and if you haven’t done it before, you could get a bad tenant. The worst kind of tenant is those who damage the space, do not pay rent and refuse to leave the property. The ideal tenant will be one who rents for longer, pays rent on time and causes fewer issues overall.
A good property manager will conduct a police check, make sure the person isn’t a scammer and look into their resources to make sure a tenant is a good one.
You Have Less Legal Issues
A single bad tenant can cause a lot of financial and legal problems, and good property managers know this. So they will have a wealth of knowledge and can shield you from liabilities and potential lawsuits. In addition to federal law, each state in Australia will have its own laws that can affect landlords, and the property manager will be aware of these.
By avoiding a lawsuit, you save money, which justifies the property manager’s fees in the long run.
Your Space Will Not Be Empty For Long
A professional property manager will assist you with preparing your property for rent and painting it in the best light, while also getting the attention of the right tenant for you.
They will do this by marketing your property effectively and will know where to find the right people and what needs to be done on their end, in terms of viewings and social media campaigns.
Long Term Tenants
If your tenants don’t rent your units for a long time, you’ll have to deal with lost rent, cleaning, changing locks, painting walls, replacing carpets, small repairs, going through the tenant screening process again, and marketing campaigns again. Keeping your tenants happy can help you avoid these costly and time-consuming tasks.
But how do you keep tenants happy? The easiest way is to constantly be available when they need you, no matter what they might need you for. Since this is a hard ask, a property manager can take over.
Lowered Repair Costs
Tenants are always happy when you provide them with good maintenance, and doing so also keeps the value of your property intact. You can access professional maintenance and a network of licensed, insured, and bonded contractors by hiring a property manager. These subcontractors have been checked for reliability, high-quality work, and reasonable prices. When compared to hiring someone from Google, you can save a lot of money. Not to mention that property managers often have discounts with local tradies due to managing many properties.
Maintain The Value of Your Property
By Identifying and fixing any maintenance Issues sooner, you can avoid further expensive repairs down the line. Preventative maintenance is the key to maintaining and increasing your property’s value. This requires standard maintenance checks and investigations, a support plan, and proper documentation. This is what a https://www.estproperty.com.au/ manager will handle for you.
More Peace of Mind
By working with a great property manager, you can have less stress, more freedom to take that holiday and more free time. But who should you choose to help you find this peace of mind?
Australia’s top Property Management services can be found at Established Property, contact them now and see how they can help you save some time, energy and effort.