Dee Why / Collaroy Blog

Build and protect your wealth by using a property manager

Successful property investing involves doing due diligence to find the right asset in the right location and for the right price.

And then the hard work begins – protecting and building the value of your rental asset, which is where the assistance of an expert property manager will prove invaluable.

Like other investment classes, a professionally managed real estate asset will achieve better income and capital growth. Moreover, by appointing a qualified property manager to look after your investment, you can save valuable time and significant peace of mind.

Supporting time-poor investors

An Australian Bureau of Statistics report recently showed that the proportion of Australians feeling rushed or pressed for time was a tick over 75%. Consequently, it’s fair to assume many property investors won't have the requisite hours to deal with the regular responsibilities involved in managing a rental property.

For time-challenged investors, therefore, an expert property manager such as Raine & Horne Dee Why Collaroy will prove to be money well spent. Better still, the minimal fees charged for property management services are tax deductible, which will further minimise the expense.

A property manager can also help you achieve stronger returns through a professional marketing approach that attracts quality tenants. We conduct routine inspections to maintain the standard of your property, and regular rental reviews assure that you maximise your income.

Onboarding new tenants

It's advisable that before the commencement of every tenancy, a detailed property condition report is completed to ensure no issues arise when finalising the bond at the end of the lease. A condition report is a time-consuming exercise that is vital to protecting the long-term value of an investment property and ultimately, the bond. A qualified property manager will compile this report for you.

We mentioned the bond. A property manager can organise for a tenant to pay a rental bond which is a form of security in case there’s a breach of the tenancy agreement. The property manager will oversee the on-going payment of the rent too once the tenant is accommodated in your property.

And there’s more! Every tenant is required to complete a detailed application form to help verify their identification, financial position, employment and previous rental history. Again, this is a vital onboarding process that ensures the tenant is suitable and capable of maintaining rental payments throughout the tenancy.  Managing the investment property financials is another significant part of the service provided by a qualified property manager that once again takes the onus off time-poor landlords.

Additional assistance

The rules and regulations about the taxation of investment properties change regularly, as do strata laws and other procedures. It’s fair to say that very few time-poor investors will have the capacity to stay up-to-date with the latest federal, state and local government changes, and this is where the value of a property manager pays dividends. At Raine & Horne Dee Why Collaroy, for example, our highly qualified property managers receive regular in-house and external training to ensure they are kept up to date on industry trends, changes, and new legislation.

There’s also the management of repairs and maintenance, which are part and parcel of owning an investment property. A property manager can take on all these tasks on your behalf to ensure your investment is kept in order by working with the best local tradesman. An expert manager can also assist you with the suitable insurance products to help maintain your property.

There are more benefits involved in working with an expert property manager, and to find out more, contact Raine & Horne Dee Why Collaroy today on (02) 9971 9000.