Why Use a Property Manager?
Most experienced property investors use property managers.
Why? Because they make you money.
By Glenn Murray *
Property management isn't just about collecting rent. It's
about ensuring your property is always rented, ensuring you
have the best possible tenants, and ensuring you're getting
the best possible rent. It's about keeping the property well
maintained, tracking expenses and income, and dealing with
the legalities of leases and the rights of tenants.
This is what property managers do. It's their core business.
For a landlord, the benefits are significant.
Save Valuable Time
The most obvious benefit is time saving. You don't have to
spend an hour or so each week making phone calls, placing
ads, interviewing prospective tenants, speaking to
solicitors, speaking to your tenants, collecting rent,
organising tradesmen and so on.
How much could you earn in that hour if you were focussing
on your work rather than chasing your tail?
Know Your Market
Property investment is a business. To succeed in business,
you need to know your market.
Property managers make their living out of knowing the
rental marketplace. They know how much your property is
worth and who'll want it. They know the best ways to reach
the market and they have the resources to do it.
A property manager with some real marketing nous can earn
you thousands every year, just with an intelligent marketing
campaign.
Know Your Rights
Rental legislation is constantly changing. It's important
that you know your rights as well as the rights of your
tenants. But most people don't even know where to start
looking.
Property managers work with tenancy legislation every day.
They know all the ins and outs, as well as the pitfalls and
loopholes. They're experienced in all aspects of lease
negotiation û from bond to maintenance agreements to
eviction.
Most importantly, they'll protect your rights as a
landlord.
Get Good Tenants
Most good tenants will only rent through property managers.
The whole process is much more streamlined and convenient.
Payments can be made electronically, their questions can be
answered quickly, and everything can be done during business
hours.
The opposite is true of bad tenants. They target privately
managed rentals, because that's generally all they can get.
Property managers chase down and validate every reference,
and they get to know problem tenants. They do everything
possible to provide you with a hassle-free investment
because they know the eviction process is every landlord's
worst fear. You can't just kick someone out without notice.
The whole process can take months.
But if you're unlucky enough to end up with a problematic
tenant, a property manager will manage the whole eviction
process û including all dealings with tenants, sheriffs, and
court officials.
Sure, you can juggle all of these elements yourself, and
you'll save yourself a small management feeà But what's the
cost? Do you want to work for your investment or do you want
it working for you?
* Glenn Murray heads copywriting studio Divine Write. He can
be contacted on Sydney +612 4334 6222 or at
glenn@.... Visit www.divinewrite.com for further
details.
