YES! Now is the time to have an experienced property manager in your corner.
A property manager (PM) with excellent negotiation skills representing your interests is worth his or her weight in gold. For starters, an expert PM will be across the legislation concerning financial hardship measures for tenants in your state or territory.
At the same time, you want a proficient manager who is providing tenants with the right hardship assessment paperwork and who is diligent about seeking the correct information to support a claim for rent relief or reduction.
Also note that while every state and territory have moratoriums on tenant evictions, there are differences. While a COVID-19 related hit to a tenant’s finance is a common denominator with the moratorium being established, there are differences between state jurisdictions, which the savvy PMs will be able to communicate to you. For example, in NSW, any household that has suffered a loss in income of more than 25% will be considered impacted by COVID-19, while in SA, the Tenancy Tribunal will review claims on a case-by-case basis.
An experienced manager will also be able to talk to you about the government support available to you as a landlord. A proactive PM can also refer your tenant to the possible government payments such as JobKeeper and rent subsidies available to them. Of course, a property manager is unable to give any financial advice. However, they can assist you and your tenants understand the government supports being made available to help us all navigate through these unheralded times.
An experienced property manager will be using the latest technologies such as conferencing and 3-D videos available for open for inspections and routine inspections. Private inspections are also being used by experienced PMs to show properties that are available for rent to prospective tenants.
The expert PMs have also communicated with their suppliers such as plumbers, electricians and maintenance specialists to ensure they are complying with the government’s strict COVID-19 isolation regulations before they visit your rental property.
Moreover, an experienced PM will have a lot of skill in dealing with landlord insurance providers and can help you navigate a claim with your insurer.
We are all in these unprecedented times together, and if you are unsure about any issues relating to your investment property, please call your Raine & Horne Property Manager today.