Tip 4

Why do you need a Property Manager?

It’s not an uncommon question I hear from landlords. Let me ask you another question.

Do you need a property manager at all?

Not everyone needs a professional property manager. For example some people have sufficient spare time to deal with the physical aspects of managing their property.

Such things as

• meeting prospective tenants at the property

• interviewing the prospective tenant

• carrying out the reference checks

• preparing the prescribed paperwork for lease and bond

• carrying out and writing up a detailed property condition report

• attending the final bond inspection and regular routine inspections

• dealing with regular maintenance issues.

In addition some people are fully up to date with and understand the Residential Tenancies Act. There can be expensive monetary penalties imposed if the Act is breached.

Some landlords are very comfortable and confident dealing with sometimes difficult situations involving tenants.

In my 26 years experience in property management I have found a great many privately managed properties are under rented. Landlords haven’t kept up with current market values and/or are not comfortable asking the tenant to pay more rent.

If you are investing $400,000 or $500,000 in an investment property you would want to achieve the maximum return on your investment by keeping up with current market values over the term of the investment.

If you are comfortable, confident and have the time to deal with these issues, then you probably don’t need a property manager.

On the other hand you may feel the need for a professional property manager, in which case we may be able to help you.