Bexley/Beverly Hills Blog

Congratulations! You’ve just bought an investment property, in a demanding and volatile market. Acquiring an investment property is an exciting move, but it’s important to remember that you can save time and money when you follow your well thought-out purchase with well thought-out management.

How can a professional property manager help you?

The term ‘property management’ begs the question, what does a property manager do? The short answer is – they can save your time and reduce your workload by doing what they do best. But let’s tease it out a little.

1. Presentation is everything

It is important to present your property well to attract the best tenant. A good property manager has an eye for important details that may escape an owner and has ready access to often-used resources in order to attend to any outstanding items.

2. Market, screen, show, rent

The responsibilities of a professional property manager include marketing the property, finding and screening potential tenants, and effectively showing the property in order to achieve a desirable tenancy outcome for tenant and landlord alike. 

3. Leases – comprehensive and compliant

It is imperative to have comprehensive leases that comply with the regulations, and that is something we attend to regularly. This is bread-and-butter for a property manager. 

4. Inspections 

Initial and ongoing inspections are important for all involved. Quality inspections carried out by keen-eyed property managers who are well used to such tasks keep things humming along for both tenant and owner. It is far better to pick up any items in need of attention earlier rather than later and is far more cost-effective in the long term.

From time to time a tenant will highlight some fixture in need of repair or replacement. Good property managers will attend to such matters promptly and rectifications will be recorded and reported to owners as a matter of course.

5. Rent

Normally, rent is paid in advance but should there be any hiccups, it is the property manager’s responsibility to pursue the matter before it escalates.

6. A central point of contact

Experienced property managers ease seamlessly into the role of go-between, acting as a central point of contact for both tenant and owner. They will take ownership of the business arrangement in a manner that is efficient, attentive, proactive and outcome-driven. Quality communication skills form a significant part of the property manager’s armoury – timely and appropriate, courteous and efficient.

7. Communication

Landlords should expect regular statements of rent received, outgoings for any necessary maintenance, notice of any issues or changes forthcoming. Likewise, tenants should be kept informed about any changes in circumstances, inspections and end of lease. arrangements. 

If you’d like free expert advice about property investment and property management, please reach out to our director of property management John Katergarakis on 0451 901 005, email [email protected].