Using Property Management Services for Your Investment
As an investor, it’s perfectly normal to want to ensure that your investment property is being well taken care of. From ingoing inspections, to regular maintenance, it’s important to make sure that your rental properties are well managed.
Doing this will allow you to keep your investment property in good condition, which will help you if you decide to sell it in the future.
A great way to ensure your property is being exceptionally maintained is to employ property management services to look after your investments on your behalf.
Here are a few reasons why you should consider using a property manager:
Property managers are well versed in state and Australian tenancy law, which means that should any problems occur with your tenant, your property manager is there to help smooth over any bumps.
Not only will they be able to handle drawing up tenancy agreements and processing initial moving in costs, but they can also help to prepare financial statements too. This will give you an idea of how your investment is tracking over time.
They also take note of property trends and have a good judgement on rental prices in local areas. This will help you to ensure that you are getting a good return on investment, and adjust any prices as the market changes.
Being a landlord often requires you to spend a certain amount of time dealing with your tenants – whether it’s due to maintenance problems or complaints from noisy neighbours!
However, having a dedicated property manager means that they become the sole point of contact, removing you from the picture.
Not everybody has the time to deal with tenants calling up about a burst hot water cylinder or broken faucet, but it’s a property manager’s job to step in and order repair services on your behalf.
One of the most crucial factors to consider when making a move into property investment is screening tenants. It’s important to do this because an untrustworthy tenant can cause a significant headache for both your stress levels and potentially your finances too!
Property managers can carefully screen prospective tenants looking to shift into your property – this can be done in the application process through references and character checks.
If you are thinking about placing houses for rent on the market, then speak to one of the property managers at Ray White for expert advice and assistance.