Based on research conducted by Domain, approximately 75 percent of Australian investors opt for a property manager to oversee their investment property, citing various compelling reasons. The intricacies of responsibilities, laws, and regulations associated with property ownership make outsourcing property management a time-saving and stress-reducing choice compared to handling it independently.
For those contemplating professional assistance, here are the top three reasons to engage a property manager rather than navigating the process alone:
1. Finding Quality Tenants: Finding reliable tenants is a complex task that requires substantial effort. Property managers, with their expertise in the local rental market, maintain databases of verified tenants, facilitating a faster and more effective selection process.
Property managers often have access to databases and software for tenant verification, providing a significant advantage over self-managed property owners who may lack such resources.
2. Efficient Maintenance and Repairs: Property managers play a crucial role in handling maintenance and repairs promptly and efficiently, sparing owners from stress. They ensure that tradespeople are qualified and insured, taking on the responsibility of organizing quotes, liaising with tenants, and securing property access. This proactive approach not only saves time for property owners but also ensures that emergency repairs are addressed promptly.
3. Navigating Legalities: Understanding the intricate legal aspects of renting out a property can be overwhelming, especially considering the variations in laws from state to state. Property managers are well-versed in these regulations and laws, providing property owners with clarity on their responsibilities and rights. Staying abreast of legal changes allows property managers to navigate potential challenges, facilitating difficult conversations if needed. Additionally, they stay informed about market movements, providing expert advice to maximize returns on investments.
Moshav Realty is a boutique property management agency servicing the eastern suburbs, eastern beaches, cbd, lower north shore, and inner west areas of Sydney. For those seeking professional property management services contact Moshav Realty for further information.
Top 3 Reasons to use a Property Manager
