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Rockingham Blog
SELF MANAGING VS PROPERTY MANAGER
Self Managing V’s Using a Professional – Why using a Property Manager is a smart choice!
Would you trust your vehicle service to a chef or a brick layer? If you are considering self-managing your investment property, you need to consider all the pros and cons before taking on this mammoth task yourself.
Often owners believe managing their rental property without an expert will save them a bit of money, however this is not always the case. Poor management of your expensive investment can become a costly nightmare if you are not experienced in this field.
Property managers are well trained and experienced individuals who are required to undertake yearly mandatory training, keeping them up to date with the latest changes to tenancy legislation to maintain their PM license. A property manager can make the best unbiased decisions with access to database technology not available to non-industry individuals, ensuring your new tenant has a good history as a tenant and is not going to destroy the property leaving you thousands of dollars out of pocket and faced with huge clean-ups, not to mention disgruntled neighbours! Property management can be very time consuming and stressful if not done properly, which can cost you more in the long run.
Private rental properties are often the only option left for tenants with a colourful past as they are fully aware a private landlord may not have the resources to perform database checks or have access to courts, bailiff’s and collection agencies. Property managers are trained to siphon through applications and spot inconsistencies and have full access to extensive data bases and court portals to check all details given are accurate and check a tenants renting history very thoroughly. And all too often good tenants can turn into not so good tenants over the course of the tenancy, when personal relationships break down or mental illness become an issue and things can go downhill quite quickly. PM’s are trained to spot inconsistencies between rental inspections and rent arrears which often indicate something isn’t right.
Also landlord insurance companies may not fully cover you if you self-manage, PM’s are fully aware of the best and worst most cost effective landlord insurance for your property. At the end of the day, Property management fees are tax deductable so it makes sense to hire a professional.
We take the stress and hassle out of managing your best investment and offer special introductory offers for you to try our services.