Understanding all the requirements as a landlord can be overwhelming at times. That is where Summit Property Management can help. Our property managers undertake regular training to keep up to date with the latest legislation and industry changes. We've put together a list of some of the more common reasons you may appoint a property management company to manage your investment.
You don't live near your investment property.
Having someone close by your investment property with local connections, knowledge and the ability to attend your property quickly will offer you peace of mind.
You're not interested in hands-on management.
You may not want to spend your days with the many tasks involved in managing an investment property. These tasks can range from collecting rent, arranging repairs, conducting property inspections, filing bonds, locating tenants, to mediating disputes, managing tenancy breaches. Some of these management tasks can be very involved, especially on top of your day-to-day job.
You don't want a relationship (with your tenant).
Many people find it easier to use a third party to manage the day to day tenancy issues, as many are sensitive and can lead to awkward conversations such as bond inspections. Using a property manager, you don't need to have a relationship with the tenant and be placed in stressful situations.
Your time is limited.
You may not have the time to spend in managing your investment property.
You can afford the cost.
After weighing up time versus cost, you decide you wish to use a property manager. Ensure you research what service you will get and what you are paying for them.
You have multiple properties or rental units.
The more rental properties you own and the more units they contain, the more you're likely to benefit from a management company to manage all the tasks and people involved in the process for you.
Are you interested in finding out more about property management services with Summit? Click on the link below for a confidential chat or a free property valuation.