Securing the services of a reliable and experienced property manager is crucial for both you and your rental property. With their expertise, you can expect optimal results that will significantly simplify your life as a landlord by;
Part 2 continued (click here for part 1)
➡️ Access to market information and trends to help you make the best decisions when required.
✅ It is important when you want to make decisions like renovating, upgrading your property, doing general maintenance, or whatever the reason; discussing this with your property manager can give you valuable insight before you decide on the best course of action.
➡️ Collecting market rent and making sure tenants pay their rent on time.
✅ They will have processes and systems to check rent daily, follow up with tenants on any missed rent immediately, and, when necessary, send out a 14-day breach rent arrears notice.
✅ A good property manager that’s looking after you will have reminders when 12 monthly rent reviews are due.
✅ Will research the market and come back to you with what market rent is and then discuss this with you before sending out a 60-day rent increase letter.
➡️ Providing you with investment support and advice when you require it.
✅ If you want to purchase a rental property, it’s a good idea to talk to your property manager first.
✅ Suppose you get serious about putting in an offer from a renting perspective; they can come with fresh eyes and maybe a few what-ifs.
✅ Have you thought of this scenario or that? That could save you a whole bunch of money before you go unconditional.
✅ If it’s a new area you are looking to invest in, have a short list of 2 to 3 property management companies that you would consider working with and then when talking to them individually about a possible purchase, you’ll have a sense of who has the most nous to help you best.
➡️ Making sure your rental property is compliant with the healthy homes standards.
✅ Sound property management is about protecting you, the landlord. Your property manager will have a preferred provider to do an independent, healthy homes report on your property. If any areas are not compliant, they can help to source quotes and manage tradesmen to get your property fully compliant.
➡️ Implementing and documentation of a health and safety management plan for your rentals.
✅ Again, keeping you, the landlord and their company safe from legal mitigation should be a high priority for your property manager.
✅ As a PCUB (a person conducting business or undertaking), they will discuss any possible health issue or hazard at your property, document this and determine what action may need to be taken in a given situation.
➡️ Ongoing industry training and updating.
✅ Property manager’s worth their salt will always be willing to upskill themselves and continually be up to date with new tenancy laws or legislation that will affect your rental property and its management.
➡️ A professional approach always ensures you receive the best service possible.
✅ A High-value professional service is essential to optimise your ROI, providing higher tenant retention, efficient operational systems and streamlined processes, risk mitigation, and bringing expertise and industry knowledge to the table.
➡️ Have ongoing access to expert legal tenancy advice when required to protect you as the landlord.
✅ In the renting game, on occasion, your property manager may need expert advice when it comes to tenancy law.
✅ A property management company that has your back will have a tenancy law expert easily accessible to run past more complicated tenancy matters. In most circumstances, you shouldn’t incur any costs for this service.
✅ Having your best interests at heart at all times.
✅ A competent, trustworthy property manager will always look after your rental property like it was their own. Treat you and your tenants with respect at all times.
✅ Report to you promptly even if it’s not good news like an expensive repair job.
✅ They will do their utmost to keep expenses to a minimum and get the best return for your property.
Making life easier for landlords is what we do. We would love to manage your property too.
So if you are considering engaging a property manager in Palmerston North, Manawatu or Tararua Region.