When it comes to renting your investment property, you have two choices: self-management or hiring a Property Manager. How do you know which one is right for you?
As an investor who is leasing their property, you should be fulfilling your obligations as well as ensuring your investment is profitable. Ask yourself if you are able to perform your obligations well while also being able to focus on your investment goals.
Some of the benefits of self-management include more control, closer relationships with tenants, and the opportunity to save on the cost of hiring a Property Manager. However, also consider the risks, which include less personal time and performing stressful tasks on your own.
If you’re self-managing and dealing with high vacancy rates, poor maintenance and repair schedules and the inability to find good tenants, it’s time to consider the services of a Property Manager.
Improving vacancy rates and rental returns
A Property Manager can help appraise your rental property, know how to calculate rent, and advise you on the changes that can improve vacancy rate and rental returns
Finding the ideal tenant
A professional Property Manager has marketing strategies to find the tenant best suited to your rental property. They also have an efficient and secure process for thoroughly screening tenants.
Compliance and legislation
From smoke alarm compliance to pool fencing regulations, a Property Manager is always updated on the safety standards your rental property should meet. Also, should any disputes arise, your Property Manager can handle them on your behalf.
Maintenance and repairs
As the owner of a rental property, it is your obligation to provide a safe and secure home for your tenant. A Property Manager will be able to inspect your property, schedule repairs, handle maintenance requests and employ the best local tradespeople and schedule repairs on your behalf.
Stacey Lee Realty has experienced Property Managers to handle the task of maintaining your investment and ensure your investment is working for you with minimal hassles. Call us today at 07 3399 2966 or visit www.staceyleerealty.com.au