Property Mangement

While some investors manage their investment properties themselves, many turn to a professional property manager for assistance.

So, what does a property manager do?
A property manager will oversee most facets of the management of an investment property and may include:

.: Advising on rent levels;
.: Advising on lease conditions;
.: Advising on the best way to present the property to the rental market;
.: Arranging the advertising for tenants;
.: Coordination of inspections by potential tenants;
.: Evaluation of applications by potential tenants;
.: Using the National database and reference checks to screen for suitable tenants;
.: Maintaining property and rental records;
.: Paying outgoing expenses including rates, insurance premiums and body corporate fees;
.: Providing annual revenue and expenditure statements to the landlord;
.: Managing property repairs on maintenance;
.: Following up late rental payments;
.: Representing you in negotiations with the tenant;
.: Representing you at dispute hearings;

The benefits for the investor is that for a small payment each month, all of these listed requirements cab be taken care of by someone else, providing you with a stress-free way to own investment properties.

When you come to choosing a property manager, try asking some of the following questions to get an idea of how suitable they would be:
.: How long have you been a property manager?
.: What professional qualifications do you have to be a property manager?
.: How long have you worked in the local area?
.: Can I speak with some of your current investors?
.: How long has your company been managing property?


Disclaimer: This information is of the nature of general comment only, and does not constitute professional advice. Readers of this website should obtain professional advice with due regard to their own circumstances before acting.