Property management in Australia can be done individually by the investment property owner or through a real estate agent and property manager (known as DIY property management). Having a property manager does not mean you can have someone collect the rent whenever it is due. A property manager is much more than that. When you have a property manager, you know that someone is “there” for your property if something goes wrong. In rental agreements, property managers operate as a mediator between renters and property owners. They are in charge of showing potential renters around the property while also analysing their appropriateness on behalf of the owner.
What does a property manager do?
For some property owners, it may feel like a property manager is just someone that you pay to collect rent every month, but that is an indication of a sub-par property manager. An experienced property manager has numerous tasks including:
- Locate and qualify eligible renters by advertising, promoting to our network of possible tenants, and holding open houses.
- Negotiate your rent and then revisit it on a regular basis. We always act in your best interests and on your side.
- Take care of all day-to-day concerns, such as basic upkeep and repairs to your property.
- Arrange for adequate landlord contents and building insurance (if required).
- Each month, they will send you a full rental statement and transfer your rental amounts into your designated bank account.
- Maintain a strong but fair barrier between yourself and your tenant(s).
- Deal with any rent arrears as soon as possible.
- Take care of all the paperwork and, in general, relieve you of the strain of owning an investment property.
- Conduct routine inspections to verify that your property is well-maintained and cared for.
- Coordination of maintenance and project management for any upgrades or refurbishments.
Why it’s easier than DIY management
You may also become a DIY property manager if you choose to manage everything yourself. However, it requires a significant amount of effort as well as a pretty high learning curve.
Managing everything alone is a difficult task, from understanding what to look for during inspections to writing leasing agreements and staying up to speed on tenancy rules. While it may appear to be a wonderful way to save money, maintaining properties yourself can take a significant amount of time and work, especially if you own many homes, have a full-time job, or own properties in states other than your own. When done poorly, it can result in issues such as a high tenant turnover rate owing to late responses to requests or a damaged property at the conclusion of the lease period because you were unable to undertake routine inspections.
Where to find an impeccable property manager
If you are looking for an experienced, helpful property manager, look no further. You just need to avail of property management services, Australia based on the geographic location you are in. For example, if you would like a property manager for a Point Cook Real estate property, Established Properties has an experienced, excellent team that could help you.
They take pleasure in providing personalised care, specialised skills and expertise, and a dedication to ensuring that your property is efficiently maintained. If you are an investor or are thinking about becoming one, after you’ve identified the ideal property, the expert staff at Established Properties can handle every detail.