Blog

December 05, 2016

Professional Property Management Verse Private or DIY Rental

Unfortunately, we meet land lords that wish they had of used a professional property manager rather than trying to do it their selves regularly. We have all heard the horror stories, where tenants have done a midnight runner leaving the house a mess, owing rent and the poor land lord left to foot the bill and clean up the mess. What’s worse is often this can be avoided. There are many things land lords can do to protect their investment.

Arguably the most powerful protection an investor can have is to hire a professional property manager. Here are the top 7 reasons, why to hire a professional property manager to protect your asset and gain the highest return on your investment possible;

  • Did you know that many tenants with a poor rental history (such as leaving property in a mess and owing rent) will target private or Do It Your Self land lords looking to find a tenant their selves. Because these tenants know their past poor behavior has been registered on various data base that only professional property managers have access to. Unreliable tenants know the system and how to play it. They know DIY land lords or private rentals are easy prey as they don’t do the same level of checks as a professional property manager.
  • A professional property manager will ensure all paper work is completed correctly and bond lodged property etc. If you don’t have the correct paper work completed from the start you may not only lose many of your rights as a land lord, but may also have insurance claims denied.
  • Your property manager can arrange maintenance for your property, saving you time and hassle.
  • A professional property manager will maintain a record of all rent paid and related expenses, at @ Real Estate our land lords have access to our online land-lord's portal providing copies of all financial records, and routine inspection reports. Meaning this important information is available for you when ever you need it with just few clicks of a mouse.
  • Routine inspections should be carried out at least every 3 months, a professional property manager will not only ensure inspections are done regularly but also done thoroughly with photos. An experienced property manager will know what to look out for.
  • A professional property manager will ensure investors maximize investment returns by recommending regular rent increases where appropriate, or may be able to suggest improvements to the property that would maximize rental return.
  • Your professional property manager will ensure you are protected by recommending regular smoke alarm maintenance, general maintenance, insurance and much more.

Unfortunately, many land lords that try to save a few dollars by privately renting their properties, can often end up costing them large amounts of time, money and stress. For more information about professional property management call Troy on 0412 819 963.