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Why You Should Use a Property Manager
22 Nov 2022
Many first time investors overlook the benefits of using a property management.
From offering industry expertise and managing the day to day operations of your rental property, many other benefits can be seen - including these TOP 6 reasons:
1. Market Appraisal: A property manager will be able to give an independent assessment of the correct rent for a rental property.
2. Tenant Selection: A property management company will have access to information on people with a history of being bad tenants and also undertake a through background check on all applications.
3. Marketing: A property manager will also have a list of tenants who may like to rent the property. Many prospective tenants contact local property managers directly for information about properties for lease. In addition, a property manager will also have access to Internet marketing which is becoming more important in the rental market.
4. Viewing the property: Showing prospective tenants the property takes time because people wanting to lease a home generally want to view the property during after work hours such as the evenings or weekends. Private land lords are more restricted in their time and therefore may not be able to find the best tenant for the property in the fastest time.
5. Contracts: Having the tenant complete and sign their contact of agreement is very important as it protects the investor. A clearly written contract should clearly state the responsibilities of the tenant and the owner. Some investors overlook this key part of renting a property with the result that problems are created between the tenant and owner.
6. Tenant Retention: Keeping a good tenant is also critical for the investor. One of the most common reasons why good tenants leave a rental property is that the landlord does not provide a high level of service i.e. it may take weeks to fix an air conditioner because the landlord is too busy with personal issues. By employing a property manager, landlords can be assured that all of their tenants requirements are dealt with promptly and this will in turn reduce vacancy rates.
The list can go on and on!
Property Managers are here to be your trusted advisor, guiding you through the many challenges and obstacles that you can face as a landlord. That's why it's so important to find the right team that possess the same values that you hold, and a team that goes above and beyond to look after your investment.
If you're on the hunt for a proactive, passionate Property Manager, we'd love to speak with you. If you're looking for your next property management team, be sure to get in contact with us, we'd love to find out more about how we can support you!
