PROPERTY MANAGER? DO YOU REALLY NEED ONE?

One of the biggest decisions you will make when you become a landlord is ‘should I hire a property manager?’

Property Manager

One of the biggest decisions you will make when you become a landlord is ‘should I hire a property manager?’
Some people choose to take matters into their own hands, sometimes this can work out well, but if things take a turn for the worse, what do you do then?

WHAT WILL YOUR PROPERTY MANAGER DO FOR YOU?
Your property management team will deal directly with all prospective tenants and save you hours of unnecessary worry.  When it comes to marketing, the collection of rent, property maintenance issues, the handling of any complaints that may arise or, in the worst case scenario, attending tribunal hearings and pursuing eviction, you really need someone experienced to take control on your behalf.
A good property manager brings experience and know-how, giving you peace of mind, safe in the knowledge that your asset is secure. Let’s face it, do you really want a phone call at 2am about a leaky toilet? Your property manager provides around the clock service to handle any issues that may arise, in a timely and professional manner. It really is worth it. It is your investment, but you don’t want to be concerned with the day to day running of the property management.
When selecting a to manage your property here are some key questions you should consider…

  •  How long have they been in the industry?
  •  How many properties do they currently have under management?
  •  What process do they undertake in finding and screening prospective tenants?
  •  What happens if the tenant is late paying their rent?
  •  How many times have they had to attend the Tribunal and what percentage of their cases have had a successful outcome
  •      What are their management fees and what is included in that fee?

WHAT ARE THEIR MANAGEMENT FEES AND WHAT IS INCLUDED IN THAT FEE?
Property Managers will charge an initial letting fee which covers, open for inspections, processing of applications, condition report and photos, negotiations and preparation of the lease, just to name a few, then their ongoing management fee is based on a percentage of the weekly rent. Advertising costs may also be incurred if that is part of your agency agreement. Owning a rental property, much like any form of investment is not without its risks. It is your responsibility as a landlord, to ensure the building is adequately insured. Lastly, you need to be satisfied that the agent you have chosen is someone who will work for you to manage and protect your investment. This small percentage of your rental income will pay dividends in the end because you can sit back and relax, knowing your investment is in good hands as long as you have taken the time to choose the right property manager for you.

MAX BROWN REAL ESTATE PROPERTY MANAGERS
Understanding the huge responsibility involved in managing investment properties is the first principle of the Max Brown Real Estate Group. Wendy Steel who has over 28 years experience in the local area leads a passionate team of Property Managers who recognize what is required to maximise the return on investment for their Landlords.
If you are seeking Property Management advice, a current market appraisal or looking for reliable and experienced services then call Wendy Steel direct on 9095 8120.

Property Manager

Max Brown Property Management Staff

 

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PROPERTY MANAGER? DO YOU REALLY NEED ONE?