Why do I need a Property Manager?

After researching the Launceston rental market we found that over 50% of landlords manage their own investment properties. While we believe that professional property management is the key to maximising your return and managing risk, we do understand that many of you have had a negative experience with traditional real estate agents and you don't see the value in the service.

While it may seem easy to find a tenant, set up a bank account and start collecting rent, often private landlords overlook some of the crucial procedures needed to for maximum protection against the 'go wrongs'. Below are a few reasons why you should consider having your property professionally managed:

As Professional property managers we;

• Maximize the landlord’s income
• Optimise capital growth &
• Skilfully represent the landlord

Act as a third party between the tenant & landlord, which gives landlords peace of mind that they do not have to communicate with the tenant on issues such as late payment of rent, negotiating rental increases and following up maintenance issues. Would you feel comfortable in pursuing the tenant if they got behind in their rent? Would you feel comfortable to increase the tenant’s rent? Sometimes having a third party to negotiate this on your behalf can avoid conflict and unnecessary additional stress in managing the property.

Understand the complexity of legislation requirements when issuing notices, preparing tenancy documents and bond authority disbursements.

Skillfully represent the landlord in court should the tenant breach their agreement.

Offer competitive maintenance rates due to the volume of work generated.

Have access to tenant database agencies (which contains information on defaulting tenants) to assist with the tenant selection process.

Have access to prospective tenants to ensure that your property is rented in the quickest possible time to the best possible tenant.

Understand the market conditions and average rent in the area to ensure that you maximize your rental return.

Have access to highly reduced rates for the best possible Landlord Protection Insurance, which is designed to mitigate financial loss for a tenant who defaults on their rental obligation or where damage is caused to the property. We also understand the policy in order to maximize any potential claims.

Know what to look for at a final inspection and we have experience in negotiating with the tenant during the bond refund process.

Take the hassle out of owning an investment property by providing you with a complete service including monthly statements, financial year income and expenses reports, maintenance and routing inspection reports and investment performance reviews, monitoring rent and increases, tenancy renewals and vacancy control.

These are just a few reasons why you should consider professional management, the next stage is finding the very best property manager you can find and that's another article!