Is Having a Property Manager Really That Important?
Category Advice
If you have just purchased a new residential or commercial property, you may have wondered whether it might be worth hiring a property manager. Like most big property decisions, the answer really depends on your current and future needs.
To help you decide, consider your answers to these questions honestly:
- Will you have the capacity (time, energy, and headspace) to oversee your property?
- Have you had sufficient experience to do the job effectively yourself?
- Are you emotionally equipped for the role and will it suit your personality?
- How do you handle uncertainty, stress, and conflict situations?
- Do you have the patience to deal with people (tenants, service providers, etc.)?
- Do you have strong administrative and organisational skills?
These are just some of the things you will need to consider before you decide whether this role is right for you. If it isn't, or if you feel time simply isn't on your side, hiring a professional property manager could be a great solution.
What Can a Property Manager Offer You?
Experience
The value that an experienced property manager can bring to your portfolio is second to none. The right agent will have several years of experience under their belt and a proven track record among other property investors. They will have seen all kinds of incidents and learnt how to handle them with professionalism, tact, and confidence. They will know how to identify the right tenants, how to secure longer leases, and have fewer vacancies. You want someone seasoned handling your property matters.
Industry knowledge
Having the dedicated service of a property manager who has their finger on the pulse of the property industry can only benefit you and your investment. The right agent will know all the ins and outs of what's happening in the field. They will be able to advise on industry best practices and recommend options for your best course of action in any situation. They will also have a thorough and up-to-date knowledge of local laws and regulations pertaining to your property.
Peace of mind
To know that a professional agent is handling everything related to your property can be a great relief. You won't have to think so much about the day-to-day details of your property, because the right person is being paid to do it. You can have peace of mind knowing that while you're handling all other aspects of life and work, your agent has got you and your investment covered.
In most cases, your property agent will handle:
Constant occupancy
- Rental payments and collections
- Tenant screening and background checks
- Contracts and paperwork
- Tenant and HOA liaison
- Managing repairs and maintenance
- Dealing with third party service providers
- Budgeting and opportunities for additional income
- Property marketing
- General administration
- Evictions
In short, a professional property manager's role is to maximise your profits and bring you the best return on your investment. With the right agent in charge, you will reap the rewards without the stress of the day-to-day responsibilities.
Looking for the right managing agent?
At SAproperty.com we have a proven track record for our expertise in rental property management. Our agents specialise in Sectional Title and HOA Management Services, rental property management, commercial property management, and holiday and short-term letting management. Contact one of our offices today or find an agent near you to set up an introductory meeting.
Author: SAProperty.com
