In our 30+ years of experience in Australia’s strong real estate market, we’ve seen a large number of property investors struggle to choose between self-management and hiring a dedicated property manager. Consequently, one of the questions we get asked the most by our investment clients is – should I hire a property manager?
Property management typically requires more time and effort than what is anticipated by most investors. This doesn’t mean you can’t manage it on your own. If you are familiar with, or have the time to familiarise yourself with, all the rights and duties of a landlord in the particular state, you can consider self management. However, keep in mind that state laws change frequently and unless you revise your knowledge regularly, you’ll be at a continuous risk.
Hire a property manager to mitigate investment risks
Consider hiring a property manager of good repute, if you can’t afford to take unnecessary risks with self-management. Some of the many benefits that dedicated property managers provide include:
- Timely repair and regular maintenance
A manager will ensure your property is maintained regularly and kept attractive for new tenants. Repair, restoration and maintenance tasks will be carried out promptly to help increase the value of your property.
- Attracting new tenants
A manager can help you market and advertise the property better to attract prospective tenants. He or she will be present at all open house inspections as your representatives and help you secure tenants with good renting history.
- Managing relationships
A manager will be able to resolve conflicts faster and better, because of the overall involvement in overseeing the property. Cordial relationships and constant contact between the tenants and your manager will also help make the business relationship more profitable and risk free.
- Compliance with state laws and audit requirements
It’s the job of the property manager to stay up to date with the latest in state and federal investment laws and regulations. Further, your manager will know the local movement of rental prices and trends, allowing you to make changes in your offer appropriately.
Australia’s number one property management group
Trust no one to manage your investment better than Australia’s premier investment property manager Professional Real Estate. Our managers know all the tricks of the trade when it comes to attracting tenants with an excellent track record. We work from 300 different offices spread all over Australaisa and hold comprehensive knowledge of different areas, trends and laws. Our legal experts will help you navigate all contractual and statutory aspects of investment-property ownership and tenancy with ease, while maintaining positive working relationships with your tenants.
Choose us to make your investment stress free and enjoy the peace of mind that comes from knowing you’ve hired the best!