Using good property management specialists will see you receiving a sound return on your real estate investment. Here are the top 5 benefits of using a property manager:
- Professional Management
A good property manager is experienced and trained in the legal, financial and personal areas of managing rental properties. They are familiar with the current legislation and have procedures in place for leasing, inspections, bond, repairs, maintenance and more.
- Lower Maintenance Costs
Property managers have in-house or contracted tradespeople to maintain a number of properties. Having these services on board means that they can organize property maintenance at discounted rates.
- Stricter Rent Collection Procedures
When it comes to rent collection, property management through specialist real estate agents ensures that a neutral third party is involved. A good property manager has systems in place to chase up rent the moment it becomes due. Landlords do not have to listen to excuses or chase money – the property manager does all this on their behalf. This results in a better cash flow for you as the landlord.
- Tenant Stay Longer
Property managers are vigilant about checking maintenance issues and retaining a good rapport with the tenant to keep them happy. A happy tenant is less likely to vacate at the end of the lease, meaning that you have less time with your investment property empty. This saves you on the many problems that can occur with a high turnover rate such as drawing up new leases, legal fees, advertising, repainting and more.
- Personal Benefits
When you organize your real estate agent’s property management department to look after your investment property there are many personal benefits to the landlord. You do not have to spend time looking after your investment, there is less stress and you can live and invest where you choose. Property management fees are also tax deductible.
At Twin Waters Estate Agents our property management services the Mornington Peninsula, Frankston, Mt Eliza, Mount Martha, Frankston South and surrounding areas. Contact us for an obligation free consultation today.