THE BENEFITS OF USING AN EXPERIENCED PROPERTY MANAGER
Most experienced property investors use property managers. Why? Because they make you money.
Property management isn’t just about collecting rent. It’s about ensuring your property is always rented, ensuring you have the best possible tenants, and ensuring you’re getting the best rent. It’s about keeping the property well maintained, tracking expenses and income, and dealing with the legalities of leases and the rights of tenants.
This is what property managers do. It’s their core business. For a landlord, the benefits are significant.
The most obvious benefit is time saving. You don’t have to spend time each week making phone calls, placing ads, interviewing prospective tenants, speaking to solicitors, speaking to your tenants, collecting rent, organising tradesmen and so on.
How much could you earn in that hour if you were focusing on your work rather than your rental?
Property investment is a business. To succeed in business, you need to know your market.
Property managers make their living out of knowing the rental marketplace. They know how much your property is worth and who’ll want it. They understand the best ways to reach the market and they have the resources to do it.
Rental legislation is constantly changing. It’s important that you know your rights as well as the rights of your tenants. But most people don’t even know where to start looking.
Property managers work with tenancy legislation every day. They know all the ins and outs, as well as the pitfalls and loopholes. They’re experienced in all aspects of lease negotiation – from bond to maintenance agreements to eviction.
Most importantly, they’ll protect your rights as a landlord.
Most good tenants will only rent through property managers as it gives them an added security knowing that their lease is legal. The whole process is much more streamlined and convenient. Payments can be made electronically, their questions can be answered quickly, and everything can be done during business hours. The opposite is true of bad tenants. They target privately managed rentals, because that’s generally all they can get. Generally Landlords do not have access to the data bases that Property Managers have to conduct accurate checks on the applicants. Property managers chase down and validate every reference, and they get to know problem tenants. They do everything possible to provide you with a hassle-free investment because they know the eviction process is every landlord’s worst fear. You can’t just kick someone out without notice. The whole process can take months. But if you’re unlucky enough to end up with a problematic tenant, a property manager will manage the whole eviction process – including all dealings with tenants and court officials.