If you’ve decided to invest in a property you’ll want to make sure you reap the optimal rewards. How you manage and make the most of this investment will be very much down to the tactical decisions you make around managing your property. In this article, we break down why engaging in a Northern Beaches property manager might be one of the smartest decisions you make, ensuring your investment is a resounding success.
Finding the right tenants - Whether it is hiring a new candidate for a job or searching for renters, the same importance applies to both. Having a Property Manager means that the tenant research is being conducted by experts, limiting the likelihood of unfavourable tenants which may ultimately lead to ongoing problems, or even worse, monetary loss.
Conversing with tenants - Not only will your Property Manager find you suitable tenants, but they will also coordinate and manage all aspects of the tenants’ relationship to the property. This will not only save you time and effort but will also ensure that the correct steps are taken when transitioning your new tenants into their new home.
Advertising and Marketing your property - It’s not as easy as a set and forget when it comes to advertising your property for prospective tenants. Having a Property Manager means your residence will be present on key sites, resulting in more eyes on your property, thus decreasing any vacancy time.
Abiding by Local and Current Laws - For the layman who may not be familiar with property law, this aspect of renting may be the most problematic. One of the trickiest situations you can get yourself in as a property owner is one which involves the law. These laws can include everything from state, local, federal regulations, and fair trading regulations. The advantage of engaging a Property Manager is that this no longer is something you have to worry about. Need advice? They are only ever a phone call away.
Managing Vendor Relationships - Engaging with a Property Manager means you have a plethora of resourceful connections that can be used at any time, including but not limited to tradesmen, contractors, suppliers, and maintenance workers. Not only are these relationships invaluable, but your Property Manager will ensure you are getting quoted the best price for any jobs that need to be undertaken whilst overseeing any projects.
Correct Rental Rates - One of the common reasons owners may find it hard to secure tenants is that they are simply asking too much for the property, or even worse you may be losing money not charging the optimal rent. Having a Property Manager will safeguard that you are asking for the correct amount based on location, condition, and amenities of your property all the while factoring in any local economic changes (take COVID -19 for instance).
Need to engage with a Northern Beaches Property Manager? Get in touch with one of our local and experienced team members from Clarke & Humel today.