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Why do investors need a property manager?

October Property News

So you’ve taken the plunge and bought yourself an investment property. In this property management report of do’s and don’ts, we look at the advantages of putting your valuable investment in the hands of a professional real estate agent.

You may be tempted to manage your rental property yourself.

Why should you part with your hard- earned money to pay for an agent? What can they do that you can’t?

Property management is a specialised field that requires training and experience to master.

You will need to retain your investment property for a number of years in order to maximise your return.

A properly trained property manager will protect your asset and ensure your rental income is secure.

What you might save in agency fees if you decide to ‘do it yourself’ would quickly evaporate if your tenants stop paying their rent or cause your property to deteriorate. Not to mention the costs that can quickly accrue if the property is vacant for any length of time.

Real estate agents have the knowledge and resources to offer a range of benefits to investment property owners.

For instance, their experience helps them to select reliable tenants for you and to check out their references and credentials.

How well do you know the laws that relate to renting and tenancy?

Untrained owners have discovered in the past that the legislative processes can often seem to favour the rights of the tenants over those of the landlord ina rental property dispute.

Agents are fully conversant with the necessary legislation governing rental property investment.

They can ensure that any legal matters are dealt with quickly and with minimum disruption to your investment.

Often troubles that arise in property management can be solved without recourse to legal advice if your agent is able to negotiate a settlement.

Agents are trained negotiators and can mediate between you and your tenants to ensure an equitable outcome in any dispute.

Self-managing property owners are frequently unable to overcome the emotion that naturally arises when there is trouble with their tenants.

An agent acts as an impartial third party to smooth the waters and broker asolution for you.

Importantly, agents have access to a range of industry resources to help them manage your investment property.

They receive regular market information and are quickly informed about any changes in legislation that might affect the rental market.

Many of them belong to professional bodies such as the Real Estate Institute of Australia (REIA), which provides them with updates on legal matters and government amendments.

They are also able to access ongoing training and education in property management to keep them up with the latest thinking and research in their field.

Another advantage of selecting an agent to care for your property is their relationship with a network of tradespeople and professionals to make sure you get the best maintenance and repair jobs, when necessary, quickly and at reasonable prices.

If you are still in any doubt about the wisdom of entrusting the managementof your valuable investment to a trained professional, the best news is yet tocome.

The Australian Taxation Office allows you to claim an immediate deduction for property agent’s fees and commission in the year you incur the expense on your rental property.

Choosing Oz Combined will allow you to watch your investment increase in value with total peace of mind, knowing your property is in the best of hands.

Property Management
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Why do investors need a property manager?