ROMA Blog

SIX REASONS WHY YOU NEED A PROPERTY MANAGER

You might think that once you've settled on your investment property all you need to do is find tenants. However, as a landlord you have many rights and responsibilities you need to familiarise yourself with and uphold. Beyond understanding the (constantly changing) legislation, you need to be available to pay bills, conduct inspections, organise repairs and to ensure the rental payments keep coming in. Managing your investment property can quickly become very overwhelming. Fortunately, it doesn't have to be, by outsourcing the management to a real estate agency you can eliminate the stresses associated with owning an investment property.

Here are six things a property manager can do on your behalf:

1. Find, Vet & Secure Tenants

The first thing a property manager will be able to do on your behalf is find, vet and secure the right tenants for you.

The process of securing the right tenant starts with the advertisement of your property online to reach potential tenants. From there they will organise inspections to allow the interested parties to view the property. Post inspections, each applicant will be carefully assessed. Property managers have access to tenancy databases that allow them to view the rental history of prospective tenants. Your property manager will be able to advise you on the best application for your situation.

2. Conduct Routine Inspections

Before the tenant even moves in, the property manager will conduct an entry inspection. Once the tenant/s have moved in, you property manager will conduct routine inspections regularly (usually every three months) to ensure the tenant/s are taking good care of your property. At each inspection you will be provided with a details report including photos and report any repairs that may need to attended to. Your property manager will keep a record of all reports to ensure that at the end of the tenancy agreement nothing at your property is left damaged or broken.

3. Manage all Repairs & Maintenance

Unfortunately, it is inevitable that throughout the course of any standard tenancy there will be repair requests. These requests will range from such things as fixing a running toilet or a burst hot water system. Outsourcing the management of your property means when an issue occurs you won't have to stress. Your property manager will call and report the issue with you to obtain your approval to coordinate the repairs on your behalf.

4. Take Care of Bills

As well as collecting the rent each month your property manager will take care of paying any bills on your behalf. Whether it is rates, water bills or invoiced from any tradesperson your property manager will keep on top of these for you.

5. Provide Market Advice

The real estate market is always fluctuating. Your property manager will be dedicated to keep you up-to-date with the rental market. This means they will be able to provide guidance on things like rental increases to ensure you achieve the highest return on your investment.

6. Maintain a Professional Relationship

The many property laws and legislations is undeniable complex. Fortunately, property managers have a wealth of knowledge when it comes to tenancy laws which enables them to mediate any issues that may arise. By outsourcing to a property manager it means the laws and legislations are always upheld and the relationship between yourself and your tenant/s will remain professional.

Having a property manager is almost like having a personal assistant to manage all aspects of a rental property on your behalf. Here at Raine & Horne Roma our property management team pride themselves on their exceptional service. We understand each landlord needs are different and we are qualified with the skills and knowledge to manage your investment.