7 reasons a property manager is essential

Are property managers worthwhile?

Rental properties are in high demand in Neutral Bay at the moment, and since you can take your pick of tenants, you may also be tempted to manage your investment property yourself.

If you think this is an easy way to save some money, think again. Having a property manager can actually save you thousands of dollars (not to mention a stressful trip to the Tribunal). Here are 7 benefits to hiring a property manager.

They will find you the right tenants

Australia is in a tight place with rental properties at the moment. Rentals are in high demand and tenants are snapping up available properties at lightning speed. In such an aggressive market, having an experienced property manager on hand can make all the difference.

With such high demand, finding tenants can be like Russian roulette. The odds are in your favour but there is still the potential for something to go wrong.

That’s why it is best to have a professional to identify quality tenants for you. Property managers have access to the bad tenant’s database and can make sure you only lease your property to people with the best records.

As well as finding the right tenants, your property manager will ensure you have a contract that protects everyone’s interests.

Property management is tax deductible

If the expense is all that’s holding you back from hiring a property manager, there’s good news. This doesn’t actually leave you out of pocket by as much as you may believe.

Come tax time, you can claim all your property manager’s fees. In addition, your property manager will present your accountant with a detailed report of all the claimable expenses so you can minimise your tax.

They have all the best contacts

Property managers know all the right people. Even an agent with only a few years of experience under their belt will still have the backup of the agency’s extensive (figurative) Rolodex. They know all the best local tradies and can make things happen much more quickly.

They ensure you remain compliant

Being a landlord is complicated. You need to comply with tenants’ rights and you are at risk of being taken to court if you fail to meet the minimum standards.

Ignorance is no defense if you are found in breach of legislation. A property manager knows all the ins and outs of the relevant legislation and will save you from the stress of trying to figure things out.

They will stay on top of maintenance

Having a property manager on hand means problems get dealt with swiftly. You don’t need to worry about driving across town to deal with leaks, break-ins and building issues. Your property manager takes care of it all and leaves you to get on with your life. The small amount of money you will spend is definitely worth the time and hassle you’ll save.

You’ll get peace… and peace of mind

When you have a great property manager, you won’t expect to hear from them often (not with bad news anyway). You get the benefits of an investment that contributes to your future wealth, without the day-to-day handling requirements. Your property manager will also be in touch to let you know how to make the most of your investment.

They can provide a complete service

As well as chasing rent and conducting inspections, you can ask your property manager to take care of bills like strata fees, water and council rates. They’ll deduct the money from the rent you receive so you don’t have to spend time figuring out your budget.

Talk to us about our property management services

We have years of experience in Neutral Bay and surrounding areas, and excellent references from our many long-standing clients. We pride ourselves on our personable, yet professional approach.

Are you looking for a reliable and highly experienced property manager in Neutral Bay? Contact us today.