Are you one of the 75 per cent of Australian investors using a property manager?
Frank Valentic from Advantage Property Consulting runs through some of the
benefits of using a professional.
To be a buffer between tenants and landlords
A lot of people may think that the role of a property manager is to simply organise advertising and collect rent on your behalf; but there’s more to managing property than that. Tricky conversations, for instance, are something a property manager is quite used to. As an example: if your tenant is late with the rent, it may be awkward for you to have to speak to them personally, and you might not know what to do. This is where your property manager will be able to sort out the situation to ensure the adequate steps are taken, in accordance to the Residential Tenancies Act.
For stress-free property maintenance
Blocked toilets, hot water systems failing or a cooktop malfunctioning are common issues that can occur at any time. Having a property manager means that you don’t have to deal personally with the problem, and their network of trades and suppliers means the situation can be sorted out without you having to source quotes and liaise with the tenant. The matter can be resolved quickly without stress. Having the key relationships already established, to settle issues in a timely matter, is definitely an advantage.
Understanding the rights of tenants and landlords
A professional property manager understands the rights of both the tenant and the landlord. It can be quite difficult for a novice to navigate the Residential Tenancies Act, whereas knowing the ins and outs of regulations is something property managers specialise in. It is imperative to have an in-depth understanding of rules and regulations when issues arise.
A good property manager should be organised, diligent and personable. Understanding the market, knowing how to pick a quality tenant and being able to resolve any issues or concerns is part of their role, so we recommend using a professional with the right skills to protect your investment.