Why should I hire a property manager?
Many Landlords will buy their first investment property and consider managing it themselves, often with the misconception that property management isn’t difficult. However, most Landlords understand that there is a lot more to managing a rental property than just collecting the rent. It is often underestimated the amount of time, effort and expertise that is required in managing investment properties.
We have outlined just a few of the aspects that need to be considered when self-managing a rental property.
In South Australia, residential tenancies are legislated by the Residential Tenancies Act 1995. The Act is very detailed with a full comprehensive knowledge this very important piece of legislation can save you a lot of time, money and heartache if things go wrong.
- Accessing and Screening Potential Tenants
A professional property manager has access to advertise available rentals on all the major real estate websites reaching thousands more potential tenants than a private landlord. Advertising on free listing websites is great, but handling dozens (if not more) potential applications is challenging. Property Managers have access to property databases providing essential information for screening an application, as well as access to national tenancy databases. Proper screening helps avoid trouble tenants, saving a lot of stress!
Specialised Relationship Management
As the middle-man, a property manager often works as a relationship manager between the Landlord and the Tenant. Having this middle-man often helps those who do not like to create conflict and are at risk of having a tenant take advantage of their generosity. A property manager is able to deal with these relationships and (hopefully) keep all parties happy.
Finding fast, reliable and affordable tradespeople is the worst nightmare for many Landlords. As Property Managers, we have an array of tradespeople that we work with on a very regular basis creating trusting relationships, rather than someone off the street. This can ensure the job is completed properly in a timely manner, at an affordable price. Don’t let tradespeople you don’t know take advantage of maintenance needing to be completed.
In the worst case scenario that things with a tenancy don’t go to plan, the matter will end up before the South Australian Civil and Administrative Tribunal (SACAT). A good property manager will have plenty of experience of dealing with the Tribunal, ensuring your case is fully prepared and properly argued to give you the best possible outcome.
A property manager takes the day-to-day stress of dealing with tenant enquiries, maintenance and other daily activities away from the Landlord. When hiring a property manager, you should be able to ‘set and forget’ your investment property.
These are just a few of the reasons why you should consider hiring a property manager for your investment property. It is often peace of mind knowing that everything is being done for you, and being done correctly. This avoids any mistakes that could cost you in the long run!
For more information about how we can help manage your rental property in South Australia, please give us a call on (08) 8281 1000, email us at email@example.com or complete the contact form on our website for a call back!
Disclaimer: The advice on this website is general in nature and does not take into account your personal situation. We recommend seeking independent professional advice tailored to your personal situation.