Property Investment Tips: Benefits of a property manager

By the resi financial blog team, 13 February 2015

Property Investment Tips: Benefits of a property manager

If you've owned a rental property for any length of time you will know that it can be very financially rewarding - but you'll also know that it can sometimes take a lot of time and effort to get the most out of your investment. These are two things that a lot of people just don't have these days, especially if you're juggling a number of geographically dispersed properties in your portfolio or are new to the investment game. This is why many investors turn to a professional property manager, who can take on a number of your day-to-day tasks of operating a rental to make sure everything is ship shape. 

Collecting

Collecting and submitting payments on time is one of the most time-consuming exercises of owning a rental property. A property manager does this work on you behalf, communicating directly with the tenants to make sure the rent is paid on time, maximising your cashflow. 

Advice

If you don't have much experience in managing a rental property, getting help from a property management company could be the solution. This allows you to get advice on everything from setting the correct rental rate for your area to insurance options. They can also effectively market and advertise your property, as well as find and screen prospective tenants.

There are also a wide range of local, state and federal laws and regulations to keep in mind, on which your manager will be well-versed. They will make sure your property is compliant with all legislation - including making certain that all contracts and lease agreements are within the law - as well as keeping you up to date and informed on your responsibilities as a landlord. 

Whether or not you choose to side with a property management company, taking out an investment property loan is a big decision with a bevvy of considerations. Get in touch with the loan specialists at resi to find out what options are available to you. 

Categories: Property Investment