The benefits of investing in a property manager

On 21 October 2014 in Property Management, Property Investor, Tips, Darwin

Where do we start?! We think the benefits are endless, but here are a few that top our list.

#1: Peace of mind

This is definitely an overarching theme throughout the benefits. Hiring a professional to manage your property eliminates stress and allows you to concentrate on the things that matter in your life.

#2: Better quality of tenants

It’s a challenge to find good tenants who will respect your property and treat it as their own. But with a property manager, it’s a trialled and proven exercise. And depending on their ability to recognise red flags on an application when screening tenants, they’ll be able to find you a suitable tenant who will maintain the value of your property.

#3: Avoid conflict

In a perfect world we would all have A-grade tenants. But unfortunately, sometimes things turn sour and when they do, you’ll be thankful you have a property manager. Not only are they there to act as a mediator, but they’re trained for these kinds of situations. They know how to approach the situation, what language to use, and how to resolve the issue so that both parties are happy with the outcome.

#4: Outsiders perspective

Let’s set the scene: your tenants held a party, there are now holes in the walls and stains in the carpet. Would you be able to uphold a professional manner, free from emotion, whilst attending to those repairs? We didn’t think so, but we get it. You’ve put your hard earned money into this investment property, you’ve got tenants in, then they start disrespecting your property – of course you’re going to be protective.

A property manager on the other hand is unaffected by emotion because there’s no personal attachment to your property. They’ll be able to handle the situation in rational and professional manner.

#5 Legally safeguarded

Do you know all of your legal rights and responsibilities as a landlord? If you don’t, this benefit alone justifies the property management fees. A good property manager knows, understands and can properly implement current legislation which can reduce costly mistakes when handling tenants.

#6: You save time

Tenant phone calls, repairs, rent collection, inspections… the list goes on. Do you have time to attend to all of these duties, and do a good job? Investing in a property manager frees up your time – it’s as simple as that.

#7 You save money!

There are many ways that your property management fees are paid back to you. For example, property managers know that the wrong tenant could cost you more in damages than it would to have the property vacant waiting for the right one. It’s situations like these that a property manager can offer hindsight and save you money in areas that you otherwise wouldn’t have known about.

How does your property manager make your life easier? Share your experience in the comments below.

If you’d like to talk to one of our friendly staff members about our competitive property management fees, please call (08) 8932 8858.

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