Reasons why you should engage a professional property manager
If you’ve ever owned or rented property, you’ve probably come across the services of a professional property manager. Weighing up the pros and cons of engaging an experienced property manager can be challenging.
Is it worth the money? Do they know your property and community well enough to find a good tenant? Can they ensure your property brings you the highest rate of rental returns? These are all things that run through the head of a property investor investigating the services of a property manager.
While the DIY approach may be appealing, engaging the services of a trusted and experienced property management professional is essential for saving time, getting the most return from your investment, finding the perfect tenants and getting the highest weekly rental rate.
Outlined below are a few reasons why property investors should utilise the services of an experienced property manager:
- Achieve the right rental rates for the tenancy – professional property managers know the local area and if you’re renting out property in the region they specialise in you can be assured they understand the rental market better than anyone. The property manager will provide reports for similar properties in the local area and will conduct research to ensure you’re getting the best results for your investment. They will also ensure your rental rate is competitive so you have a low vacancy rate and you are maximising your rental income.
- Collect and deposit rent payments on time – if you’re not based in the local area or you don’t want to personally arrange collection of your rental income it’s much simpler to engage the services of a property manager who collects and deposits rental payments as they are due. Efficient property managers also have a zero tolerance rate for rental arrears meaning your income is protected, and your cash flow is not affected.
- Marketing and advertising your property for rent – a property manager knows how to market rental properties, it’s their business after all, so you can tap into their extensive marketing and advertising tools and utilise them to get a tenant for your property quickly and without the fuss. The property manager uses their industry knowledge to match the perfect tenant to your property.
- Screen and find the ‘right’ tenants for your property – before letting out the premises, property managers go about screening tenants. This process of checking references can be time-consuming and property managers manage the entire process from application to handing over the keys to find the perfect tenant to match your property.
- Manage tenants, maintenance and repairs – if your property is in need of maintenance, repairs or your tenant has any enquiries about the property, your property manager will manage all of this on your behalf. This includes meeting with tradesmen, contractors, suppliers, condition and entry reports, inspections and any other service to keep your property in good order. All of these support services are included in your property management fee.
- Ensure your property is compliant with current property laws, policies and regulations – as laws change and are updated in the property and rental field your property manager will ensure your property is compliant and up to date at all times.
Above all, the property manager’s role is to maximise the landlords ROI. The key service of the property manager is to ensure you get the highest return for your investment. They are in business to ensure your property is profitable for you and you’re getting the most from your investment.property.
The All Ways Property Management Services team service the Manawatu region including Palmerston North, Feilding, Ashhurst, and Aokautere and the Tararua region including Pahaitua and Woodville.
We’re professional property managers who care about your property, and the tenants who are renting it, and focus on ensuring your home is managed to the highest standard.
The expert team at All Ways Property Management are independent property managers driven to perform and achieve amazing results in the local real estate market. We’re not licenced real estate agents, and dedicate our time to the management of houses, units and all types of residential property listings located within the local area. We are real people who live in the local community with a passion for real estate dedicated to ensuring your asset is in good hands.
