So you’ve purchased your first investment property… what next? The biggest decision you will need to make is whether you will employ a property manager to help you, or whether you’ll manage it yourself. Here’s some key benefits of employing a property manager.
- Less Stress
With someone else managing your investment property, you don’t need to sweat the small stuff, that’s what your Property Manager is there for!
- Reduce Risks
By engaging a property manager you reduce the chance of having a vacant property therefore lowering your risk of lost income. Also reduced risk of damage with regular inspections and detailed reports to you. Allowing you to maintain the condition of the property in a managed time frame.
- Point of Contact
If an issue arises, your property manager is there to address this, and any other problems that come up. Property Managers also generally have more availability than owners do to address anything, and have an army of contacts to call on if needed.
- Up-to-date with Legislation and Laws
Private owners are bound by the same legislative requirements as property managers in their dealings with tenants. This means that if you are taking the task on yourself, you will need to stay up to date with constantly-changing legal requirements. So choosing a property manager to manage your investment property can be a wise decision that may save you time and money over the long term. - Fewer ‘Problematic’ Tenants.
Experienced property managers, like ours, see hundreds of rental applications, and are experienced at vetting tenants. Applications are subject to multiple checks and reviews to ensure you receive high quality tenants and applications. Of course, you will have the final say of who lives in your property, however property managers can provide expert opinions if you are unsure or undecided.
- Some Services can be Tax Deductable
Check with your accountant what you can and can not claim, make sure you keep all receipts!
If you’re looking for your next property manager make sure you contact us today!
0478 683 996 or 5430 0888