Everyone wants to save some dollars when it comes to self-managing your rental property as it seems (on the surface) simple enough!

However, managing the property yourself will likely be more problematic and costly than if you hired a quality property manager.

Here are SIX COMPELLING REASONS why:

1 - Property Managers Have Better Experience to Navigate Issues

There's a vast difference in experience and navigating the issues and pitfalls with a property manager that has rented to hundreds, if not thousands, of applicants in their career lifetime versus your experience with renting to just a few.

A good property manager can usually recognise a potentially bad renter within the very first stages of an application, whereas an inexperienced person will not see the minimal subtle warning signs and end up renting to a bad tenant with the awful results.

2 - Bad Renters Target Self-Managing Property Owners

A quality property manager has many stringent checks and identification requirements at the application stage, making it very difficult for a bad renter to 'get through the net'.

And bad renters know this!

They will avoid going to an agency, and instead target self-managing owners who they know do not have the same experience or access to resources that property managers use to know they are indeed a bad renter covering a poor rental history with a trail of destruction.

3 - Property Managers and their Database of Trusted Trades

Property Managers spend a lot of time sourcing, checking building relationships with quality trades to ensure they can trust that the trade they engage will look after their clients.

When maintenance is needed at your investment, it’s important to use insured, fair and quality trades. A property manager will assist you not only by recommending trusted trades but by organising access between the trades and your renters as well as payment of the invoices from the rent!

4 - Easing the Pressure at Tax Time!

Not only can a property manager pay trades out of the rent, they can also pay council rates, water rates, insurances AND MORE!

All of the incoming rent payments and outgoing expenses are collated and recorded on an EOFY statement that you can provide to your tax agent. No more collecting receipts and manually entering your ingoing and outgoing expenses!

5 - Poor Quality Property Marketing (keeps your property empty longer)

Getting your property rented fast to the best renter at the best rent is in everyone's best interests, and to achieve this, quality property marketing needs to happen with quality photos, a detailed property market write-up, plus listed at the correct market rent that will result in it being tenanted quickly.

90% of the reason a quality renter will choose your property over others is visual, so you need to ensure your marketing campaign will impress!

We have access to photo enhancing services, virtual tours and 3-D floor plans- tools that a DIY property owner does not have access to or feels aren't necessary, but all make the difference in attracting the right renter to quickly to reduce expensive vacancy periods.

6 - Getting Emotionally Involved (is a bad thing!)

When you have your renter call you up and give you a story about why they cannot pay their rent, what will you do? Most property owners buckle right at this point and allow the renter to get behind without putting any protective measures in place.

Your property manager is NOT emotionally involved and can navigate the pitfalls that come with late rent payments, keeping you at arm's length.

Many property owners have lost thousands of dollars because they were 'too nice'!

Just in this point alone, a quality property manager will save you countless hours of anguish and give you peace of mind.

Don't spend time getting stressed about managing your investment property - that's our job!

To know more about how we can make managing your investment easier for you, get in touch today!