While managing your own investment property may sound easy enough, the stress and legal obligations that can arise are not worth the small cost of hiring a professional to do the job in the first place.
Here are some reasons why you should trust in a professional...
Start to finish
Your local agent can help you right from the start, by arranging public viewings of the property while also handling all applications and references from prospective tenants. They are especially helpful if you need a second pair of eyes to help you manoeuvre the tricky waters of property management. A good agent will oversee the daily tasks and responsibilities of your investment property and most importantly, will facilitate the smooth communication between you and the tenant.
National Tenancy Database
A property manager will also have access to the National Tenancy Database to ensure any prospective tenants do not have poor history with previous rentals, which can save you stress and worry down the line.
They will then devise a shortlist of prospective tenants that meet the requirements and pass all the checks, which you can then choose from.
Everyday management
Your property manager will arrange the lease documentation; manage rent collection; coordinate bond lodgement; see to occasional maintenance; conduct quarterly home inspections on your behalf; and can manage utility expenses, such as water and council rates.
If you have trouble understanding the market rate for your property and setting the weekly rent accordingly, your property manager can work all of this out for you and save you the hassle. They will monitor rental prices for your area closely so that you are up to date on current market conditions in order price your investment accordingly.