When it comes to your rental properties… your investments… your future financial security… you want to ensure your property is not only being cared for and in remaining in good condition. In addition to that, ensuring it remains a positive and viable investment that is working for you is necessary for financial goals and your future.
Do you know what your property is worth in the current rental market, or where the market may be heading? Can you, on your own, confidently manage rental payment and bonds, and manage the property’s cash flow, budget and accounting?
There are a lot of skills and knowledge, not to mention time, in covering off on all that!
Initially, it’s important that both you and your property manager are on the same page when it comes to your property. Regardless of whether the property is tenanted or vacant, it’s important that expectations remain clear and reasonable.
A vacant property can be stressful; however, your property manager will ensure that the property is being seen by the right people and applications reviewed carefully to ensure the right tenants.
Your property remaining tenanted is by no means where the task of the property management ends. There is much to plan and account for to ensure that not only responsibilities relating to legislation are being met. There are obligations to be met as a landlord, and, all the while, ensuring you are getting the best out of your property.
How you choose to communicate with your tenants can be challenge, particularly if you’re self-managing, as outside influences (careers, families, everyday responsibilities) may mean your availability is sometimes limited. If and when it comes to disagreements or conflict, it can be greatly beneficial for all to have a third party involved.
Property management is a career which covers many areas. It is rewarding, but it is also a career where you, the property owner, passes to us the enormous responsibility of making sure your investment works for you.
Changing industries, legislations and challenges are all part of the job, and property managers are apt in remaining ahead of the game to ensure this all occurs.
Your property manager is here to take the stress out of property management and reduce the risk associated with managing your property.