Have you every thought about doing your own property management? If you have, you are not alone. The idea of saving money by managing your own investment property is an attractive option. While privately managing your investment property may initially seem like it’ll save you money, it’s important to weight up all the pros and cons.
If you choose to manage your own investment property, make sure you consider how you will cope if things go wrong. This is usually when the big hassles begin! As a landlord, you could be fortunate enough to find perfect tenants and a trouble free property. If this is the case, managing your own investment property would be pretty straight forward. The trouble is that in reality, not all tenants are perfect and most properties require regular maintenance and upkeep. Thus having an experienced, professional Property Manager is worth their weight in gold.
Here are a few reasons why we think its always best to hire a professional Property Manager to look after your property.
- Less pressure on yourself. A Property Manager will look after all the paperwork and legal matters so that you don't need to worry about them. They will also inform you of any relevant matters relating to your investment.
- Better Tenants. A Property Manager can advise you on who they believe your tenant target market is. They will thoroughly screen all tenants so that you can have peace of mind knowing you will have a reliable tenant.
- Maintenance. A Property Manager will organise all maintenance on the property. They will also ensure all of the appliances are regularly serviced and maintained. By conducting regular rent inspections, your Property Manager will be able to check to make sure the tenants are doing their part to maintain the property too.
- You can benefit from their knowledge and experience in property management. Most Property Managers have years of knowledge and experience gained by working in the industry. By hiring a professional, you can benefit from their expertise instead of trying to figure everything out on your own!
- Shorter Vacancy. A good Property Manager will always strive for a quick turnaround time when it comes to changing tenants. They will conduct the lease renewal process 3 months before the end of lease date, so that there is plenty of time to organise new tenants if the current tenants decide not to stay on.
We always recommend hiring a professional Property Manager to manage your investment. Although you don't legally have to hire a Property Manager, having one will save you a lot of time and money in the long run. Contact us a Rent City Cairns, where we specialise in Property Management.
Rent City Cairns
Phone: (07) 4031 4890
Fax: (07) 4031 4889
Office: 3/140 Mulgrave Road, Westcourt Qld 4870