Role of a Property Manager
Property managers make their living from their extensive knowledge of the local property market. They understand the rental market, the competitive prices, and the matching of the different type of tenants and rental properties. Due to our years of experience in the Sydney market, the team at Property Navigators are able to weed out and spot difficult tenants and save you from headaches and potential losses.
A good property manager will help you:
Market your property investment. If you want to rent out your property, a property manager can do the advertising for you and help you find good tenants. This will effectively minimise vacancies and maximise your returns.
Screen possible tenants. You are at risk form potential losses if you end up with problematic tenants. Aside from having constant calls for maintenance and repairs, a bad tenant can be a nuisance to neighbours and this could affect your property’s reputation and market price.
Maintain and watch out for your property. A property manager can keep your property in good condition by taking care of routine repairs and regular maintenance. They can also arrange emergency repairs if needed.
Prepare the contract and negotiate rental terms and lease. With the help of a property manager, you don’t have to worry about organising the paper work. A property manager can prepare any documentation pertaining to your property lease.
Keep a record of your income and expenses to assess your profitability. The reason you probably invested in a property in the first place is because you expect a return. A property manager can make sure you are in line with your targets and goals by tracking your rental income versus expenses in maintaining the property.
Take charge of rental collection. If you have a property manager, you don’t have to worry about collecting payments from your tenants. In case of rental arrears, your property manager will take the necessary actions to make sure the tenant pays what is due to you.
Comply with applicable state and local laws. A property manager should be knowledgeable of existing federal and state laws where your property is situated and they should make sure that your property complies with all the council requirements in its local government area.
Deal with tenant complaints and requests. There are some tenants who can be ‘difficult’ and to save you headaches, your property manager can help you sort out things with the tenants and maintain a healthy and peaceful relationship with them.