Above Average Property Investments deserve Above Average Property Management
Placing your investment property under management is one of the best steps the astute investor can take. A reputable and skilled property manager will be there to assist and guide you through all your tasks as a responsible property owner. Acquiring the services of a property manager is a wise and well informed decision, leaving you time to focus on the important things in life.
Investors that engage the services of professional property management are released from the burden of time consuming and often extremely taxing exercises such as finding suitable tenants, arranging inspections, preparing and submitting the correct rental documentation, collecting the rent and keeping the properties well maintained. Many people with growing property portfolios have recognised that taking their hands off the day to day management allows them to turn their attention to other priorities.
Property Management Tips:
- Above average property selection. Choose an investment property with features that will make it easier to rent. i.e. location and surrounding infrastructure, lock up garage, ensuites, built in robes, air conditioning and a fenced yard etc. Brand new properties generally provide these features along with tax benefits for depreciation of building, fixtures and fittings.
- Property Management fees are tax deductible. Trying to save a few dollars by managing your property yourself has many pitfalls as it is likely you will work quite hard to save those few dollars. Make use of the tax deductions available to investors by taking advantage of professional management.
- The old saying is true…you get what you pay for. I often find investors struggle to justify handing over a portion of their rent, however I strongly encourage investors to avoid ‘cheap’ property management. Clients that have engaged the services of a high quality and reputable property manager have testified it was worth every cent and allowed them the freedom to have an asset growing in equity and value with very little effort on their part.
- Image is everything. Chances are, when your property is being advertised for rent, it will not be the only one in that suburb. A quality property manager will do everything possible ensure your property stands out above the rest. Professional photos can make all the difference to catch a potential tenants eye and are worth the extra cost. They can also be reused should your property be advertised again down the track.
A qualified Investment Advisor will encourage clients to make an informed choice and seek out the services of a recommended property manager. This will allow an investor to journey the process of listing their property, right through to tenant management, with sound knowledge and industry experience.