The role of a Property Manager is to handle the day-to-day operation, maintenance and administration of a rental property, on behalf of the owner. They carry out the landlord’s duty under tenancy law, whilst ensuring the landlord is aware of their rights and obligations. The property manager also has a duty of care to the tenant.
75% of Australian landlords use a Property Manager¹, here are five good reasons why.
Property Managers know the market
As experts in their local area, Property Managers stay on top of market conditions, allowing them to provide objective rental appraisals and advice on how to achieve maximum rental return.
Property Managers find quality tenants
Choosing the right tenant is paramount to the success of any lease agreement. Property Managers use marketing expertise combined with access to the most effective digital platforms, to recruit the most suitable tenants. They also hold a database of prospective candidates, making it possible to find the right tenant off-market.
Property Managers also complete due diligence on every candidate. They have exclusive access to tenancy databases for rental history, and perform thorough reference checks.
Property Managers are across current regulation
Navigating the Tenancy Act when issues arise is where a Property Manager’s experience comes to the fore. They are across the laws and legislation, and stay up to date with changes as they happen. A Property Manager will also ensure all legal paperwork is in order, communicating all parties’ rights and responsibilities clearly.
Property Managers create a buffer between landlords and tenants
Having a trusted third party liaise with tenants can take the emotion out of owning an investment property. Property Managers handle complaints, repairs, inspections, rent collection and arrears, saving a lot of stress (and time) for the landlord.
Property Managers make maintenance easy
Every property owner knows that properties require maintenance. As the first point of contact for tenants, Property Managers have a reliable network of licensed, insured tradespeople that they can call on at short notice. Property Managers take the stress out of dealing with urgent repairs, and are skilled at adjudicating who’s at fault when it comes to damage. They will also manage any insurance claims on the landlord’s behalf.