Reasons To Hire A Property Manager
Find, vet and secure tenants
The first thing a property manager will be able to do on your behalf is to find, vet and secure the right tenants. Your property manager will have all the skills and knowledge to advertise your property and reach potential tenants. From here, they will dedicate time to coordinate inspections to allow interested parties to view the property.
Post inspections, property managers will take the time to carefully assess each applicant. Furthermore, they have access to a tenancy database which allows them to view the rental history of prospective tenants. Using this tool, a property manager will be able to advise you on the best applicant for your situation.
Conduct regular inspections
Once the tenant has moved in, your property manager will inspect the property regularly to ensure the tenants are taking good care of it. Your property manager will provide you with a detailed report including photos and make note of any repair work that might need to be tended to. Your property manager will keep a record of all reports to ensure at the end of the tenancy nothing is left damaged or broken.
Manage all repairs and maintenance
It is inevitable that throughout a standard tenancy there will be repair requests. These requests could be small, such as fixing a running toilet or they may be serious and urgent issues. Either way, outsourcing the management of your property means that whenever an issue occurs, you won’t have to worry. Your property manager will take care of inspecting the damage and coordinating the repairs all while keeping you informed.
Take care of bills and paperwork
Beyond collecting the rent each month and taking care of lease papers and inspections reports – your property manager will take care of paying any bills on your behalf. Whether it is rates, water bills or invoices from any tradespeople, your property manager will keep on top of these for you.
Provide market advice
The real estate market is always shifting. Your property manager will be dedicated to keeping their finger on the pulse when it comes to market updates. This means they will be able to provide guidance on things like rental increases to ensure you achieve the highest return on your investment.
Maintain a professional relationship
Navigating the many property laws and legislations is undeniably complex. By using a property manager means laws and legislations are always upheld. Fortunately, property managers have a wealth of knowledge when it comes to tenancy laws which enables them to mediate any issues between yourself and your tenant that may arise. This expertise allows your property manager to maintain a professional relationship with your tenants.