8 Reasons Why You Need A Property Manager

It may be tempting to manage your own investment property but once you become a landlord there are numerous rights and responsibilities that you need to familiarise yourself with and uphold. A CRE Property Manager can take on this role and offer a middle between you and your tenants, so you can stress less and focus more on your ROI. 

Here are 8 things our Property Managers will do for you: 

1. Help you navigate the Laws and legislations

Renting a property has many laws and legislations that are designed to protect a tenant’s rights while offering protections for landlords from bad tenants. 

Navigating these laws and legislations can be tricky and with harsh consequences against a landlord if these laws and legislations are breached, having a Property Manager on your side who can advise you is priceless. 

2. Provide market advice 

The market is always changing. A Property Manager can provide an independent rental appraisal on your property and help you find the highest achievable rent. With this you can ensure that you are getting the most out of your property, optimising your investment.

3. Give marketing support

A Property Manager will have excellent tried-and-tested knowledge on how to effectively advertise your property which will secure you a higher quality tenant. They will have access to the best digital platforms to advertise the property on. 

4. Manage the tenant selection process

Tenant selection can be a stressful process and time-consuming. Property Managers are experts at securing great tenants as they have a tenancy database which allows them to very quickly view the rental history of most prospective tenants. If there are any issues between this tenant and previous properties, red flags will be raised.

For tenants that are not yet in a database, such as first-time renters, Property Managers have years of experience gauging prospective tenants. With this prior experience, a property manager will be able to easily advise you on which applicant you should choose.

5. Secure better tenants

Tenant retention begins with a good relationship between the tenant and the property manager. A Property Manager can ensure that maintenance is addressed on time and communication is prompt, all increasing tenant satisfaction. 

6. Conduct maintenance and inspections

Property Managers are the first contact for your tenants if anything goes wrong. They can inspect and organise repairs and they often have good relationships with tradies potentially giving you a discount on their services. 

A Property Manager will also arrange and conduct regular inspections, providing you with a detailed report of your property.

7. Take care of paperwork and bills

Ensuring all paperwork is completed correctly and is correct to legislation and laws can be confusing. Property Managers are experts at ensuring that both party’s rights are preserved in any paperwork such as contracts. 

Your Property Manager will also ensure that you know when bills surrounding property maintenance and repairs are due so that they can be paid. 

8. Maintain a professional relationship

A Property Manager will develop a professional relationship with the tenant. This allows them to mediate any issues that arise around the property and act according to legislation, the tenancy agreement, and what is best financially for the landlord. They act as the perfect middleman allowing the investor to benefit the most financially, while the tenant has their rights respected. 

A property manager also ensures that the tenant’s rights are upheld at all times. This means that they arrange inspections with the legislated required advanced notice, and ensure that any other visits also have enough notice before commencing. 

CONTACT US: If you have an investment property and are looking for a Property Manager, we would love to chat. Please click here to contact us and we will be in touch to discuss your needs.