Using a property manager is smart property investing
If you’re investing in property for the first time or have several properties that you’re managing yourself, hiring a property manager is a great step in protecting your investment.
Appointing a property manager will ensure your property is well maintained, up to legislative standards, and consistently making good returns. A property manager’s job is to look after your investment and ensure it maintains its value, if not increase it. This includes taking care of regular maintenance, thorough tenant selection and conducting property inspections.
Here are 6 ways a property manager can help you maintain your investment.
1. First point of contact
Do you like waking up at 5 am to deal to a leak or running water? If anything happens to your rental home, or there are any concerns from tenants they will directly call the property manager, rather than calling you. Of course, a landlord will still be given all the information, but you won’t be woken up in the middle of the night with an urgent phone call about an issue unfolding for you to resolve. Having a property manager as a direct point of contact will allow for swift response to a tenant.
2. Tenant selection & vetting
This one we can’t stress enough. Ensuring you have the best-suited tenants to fit your rental home is key to maintaining the condition of your property and ensuring good returns. Of course, having tenants in the home will provide you with rent, but you need to know that the people living in your home will not only look after it, but they are honest, reliable and suitable. However, choosing tenants and checking references yourself can be a long and difficult process. Nice Place has the tools and access to the information that investors and everyday citizens don’t. This makes tenant vetting and selection a thorough process and is a good chance for us to uncover any skeletons that may affect their application for the tenancy. Choosing good tenants is vital to the upkeep and value of your property, and is something that we specialise in. We’ve seen it all, and know what to look out for.
3. Regular inspections
An important part of maintaining your rental investment is carrying out regular inspections. It’s also important to be sure the tenants are comfortable with the condition of living. Inspections are a great opportunity to ensure that the expectations of a tenant set out at the start of a lease are being met, and they are indeed looking after the property as required. If you are a current or prospective landlord, you should be prepared to carry out regular inspections at each property regularly and be prepared to take action as necessary. Your insurance policy will also have a requirement for regular inspections embedded deep within, not getting around to doing them may jeopardise any claim you may have to make in the future, regardless of the cause.
4. Property maintenance
Following inspections or even from late-night emergency phone calls from tenants, certain areas may need fixing on the property. Property managers have a range of reliable contacts such as plumbers, electricians etc. who they can call to fix any issues that may come up. As property managers, we maintain strong relationships with providers and can rely on them to attend to a problem quickly and professionally. Having trusted trades is also a large part of ensuring you are staying compliant and meeting legislative requirements. DIY is not part of being a landlord or property manager and can actually get you in hot water. We also have purpose built platforms to manage these processes.
5. We can help you stay legally compliant
Do you want to learn everything there is to know about property? Read the Residential Tenancies Act, and stay up to date with any changes, understand the inner workings of the tenancy tribunal?
We know the law regarding a tenant’s rights and rental properties. We understand how to stay compliant and we make it our duty to ensure your property is meeting legislative standards. You can read our recent updates on:
6. Consistent returns
You will only get a good return if you address any issues that arise, keep the property in a livable condition and adhere to all legislation standards. Using a property manager, means you have an industry expert working to maintain your investment. We strive to keep your property in the best condition to ensure consistent and high returns.
If you want to save time while also keeping your property in good condition, consider hiring a property manager. We are experts in retaining value, tenant selection, maintenance and inspections – so you don’t have to do anything other than answering a few emails or phone calls.
If you are seeking a property manager to look after your property, or are after some advice then get in touch by email at firstname.lastname@example.org, phone me on 027 306 6009, or connect with me on LinkedIn.