Have you recently invested in a new property in Perth and aren’t sure whether to hire a professional to manage it or do it yourself? It’s a tricky decision, and there are a number of elements to weigh up. Managing a property requires significant time, money and real estate expertise – not to mention knowledge of property laws, tenant rights, and a network of contacts to call for maintenance and upkeep.
Studies show that in most cases, having a professional property manager look after your property will actually save you money in the long run. It’s important to weigh up the costs of paying a professional with experience in the West Australian property market, and how much time and money it will cost you to take on the management yourself.
Here are a few ways that hiring a property manager can save you money and time:
- Take the pressure off:
Managing a property is a big job. The processes, procedures and expertise involved can be complex and time consuming, and the learning curve can be steep. Property managers take the pressure off – you won’t have to worry about your property or tenants. You won’t have to deal with late night phone calls for maintenance requests, or follow up tenants for rent, or take time off work to get your house ready for new tenants.
- Tenant selection taken care of:
Choosing a tenant or group of tenants for your property is one of the toughest jobs on the property to-do list. House viewings, tenant interviews and checking references are just the beginning. Property managers have the resources and experience to investigate rental history, ask the right questions, and find the best tenant for your property.
- No empty house:
When lease periods are up or tenants break lease and move on, your house is very suddenly left empty – and the payments into your bank account stop. The period between one tenant and the next is an incredibly busy one. From ensuring cleaning, gardening and maintenance are up to par and advertising the property to find a new tenant, it can quickly become overwhelming. Ensuring that your house is tenanted quickly by hiring a property manager.
- No tough stuff:
Property managers have seen it all: tricky tenants, rent dodgers, and poorly maintained properties. They are up to date with real estate law and the contract that exists between a landlord and their tenants, and understand how to resolve sticky issues. They have the connections and expertise to deal with maintenance requests, collection of late rent, and complaints from tenants or neighbours.
Purchased a property in Perth and need a professional, experienced property agent to look after it for you? Get in touch with the team at ACTON, and feel the stress fall away.