Why Hire Property Manager to Manage Your Rental Property

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Why Hire Property Manager to Manage Your
Rental Property?
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Having a rental property is an achievement but
what comes after that may send you in a tizzy.
This is because owning an investment property in
Australia may be easy but managing it on a
day-to-day basis can be daunting. If you remain
on your toes day-in, day-out, then you have all
the reasons to hire a property manager to manage
your rental property. A professional property
manager will not only take your burden away but
will also care for investment property. After
owning a rental property, the next important
decision you would make is to have tenants. Once
you plan to take tenants on board, you will have
to decide whether or not to use a property
manager (real estate agent). Property managers
are certified, licensed professionals whose
duties involve taking care of the investment
properties, collecting rent, managing tenants,
conducting timely inspections, and a lot more
activities. Many people do not hire property
managers because either they are not aware of the
role of real estate agents (property managers)
or they really do not want. Another important
factor that may stop people from hiring a
property manager is that he/she can cost
approximately 7-10 of the total rental income
each week. But what best they do for you is that
they take your burden away.
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What is a Property Manager?
Let us understand it in a more simplified way.
Property managers are third-party individuals who
act as intermediaries between the owner and the
tenants. The contract you sign with them will
determine the length of time you want the
services of a property manager. Till the time
contract is valid, the property manager will be
responsible for the following Finding new
tenants if the property is not occupied. Assessing
suitability of tenants and performing checks
such as obtaining references. Collecting rent
from tenants. Carrying out timely inspections and
maintaining a report. Dealing with tenants and
looking after them. Answering their queries,
booking tradespeople for repairs.
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Where Do You Find Property Managers?
When you decide to have a property manager
onboard, first of all you will look locally. Go
online, find a right real estate agent
(investment property manager), talk to them and
after you get all the answers to your queries,
hire them. But look for a property manager who
has sound knowledge of the local area. A local
property manager will be able to deliver better
results. You can talk to acquaintances, friends,
family members or even find a manager through
your own independent research. You can even
reach out to the real estate review websites or
trust the word of mouth.
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How Much does Property Managers Cost?
As per the localagentfinder.com.au, a property
manager can usually cost you between 7 and 10
of your weekly rental income. For a lot of
people, the amount is too much and the fee
really adds up over the course of time. On the
other hand, if we look into the relief and
relaxation that the property managers provide is
undoubtedly incomparable. The services that
property managers provide are quite significant.
Their services require a high level of
commitment and time. This is something a lot of
property owners do not have probably because
their focus lies on their day to day lives.
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Pros of Hiring Property Managers
As per the Real Estate Institute of Australia
(REIA), property self-management is not
uncommon. Despite 54.3 of occupied rented
properties in Australia being managed by real
estate agents, 22.7 are managed by the
landlords. REIAs research officer Evgeniya
Hawthorne said, Even though investors who
choose to self-manage their properties avoid
paying management fees, the amount of work
involved in the process should not be
underestimated. Managing a property by self also
involves a cost. Investors have to keep
themselves up to date with legislation and
regulations. This is something a professional
property manager does daily or say under their
professional career development.
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Is it Worth Hiring a Property Manager?
The services that a good property manager
provides are worth more than the fee they charge.
Why? Because renting a property requires a lot
of work. It needs commitment which is not
everyones cup of tea. A good property manager
will handle everything about your property.
Downsides, issues are also taken care of by the
managers. They make your life potentially much
easier. All you need is someone who will work
hard enough to safeguard your valuable asset. To
know who will prove to be the best. It is
suggested to compare investment property
managers, check their qualification, experiences
and then take the final call. When you have a
real estate agent who specializes in property
management, you get a buffer between you and
your tenant. If there are issues with late
payments or damaged property, the property
manager deals with it so that you do not have to
face any unpleasant situation. The property
managers who are licensed and experienced will
know everything about the market, the state laws
and can even advice you about the right landlord
rights.
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Day-to-Day Tasks
Paper work, adhering to the changing
legislations, managing clients, tenants, solving
problems, answering queries, staying available
24/7, collecting rent and the list goes on. A
property manager dons several hats in a day so
it is not just about collecting rent and having a
nap. Good property managers also facilitate
mediation in the event of late payments, organize
emergency repairs, maintain and even handle the
payment of bills. So, in the nutshell a property
manager helps in providing a complete management
service which helps you in avoiding time and
money wastage. So, if you think you can handle
everything described above with utmost
efficiency, then you must go ahead with taking
care of your property but if you think any of the
aforesaid things will be challenging, then hire a
property manager. Investment property managers
are the specialists at multi-tasking, highly
qualified in their field to perform all of the
above duties. So, when you employ a property
manager, you can expect a good communication,
negotiation, and conflict resolution, if any.
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A Property Manager Works in Your Interest
Property managers at Freedom realtors treat your
property as their own. They work in your interest
and goes above and beyond to get you high
returns on investment property. Once you hire a
property manager to take care of your asset,
they work in the best interest at heart. There is
no chance that you will fret over anything.
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Less Pressure and Greater Freedom

• Time is money. Suppose you do not want to
  micromanage your home, chase down hires, address
  emergencies, fix damages, and handle contractors.
• In such a case, having a property manager by your
  side will be a boon because you will have
  considerable extra time to spend on the stuff
  you wish to excel in.
• Also, if you manage your personal properties, you
  might stay quite limited to investment
  opportunities inside a good radius of your
  property.
• By hiring a property manager, you may get the
  benefit of funding deals in any other area. So,
  you get enough time to focus on other key areas
  of life.

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A Point of Contact

• Handling problems that arise with your rental is
  one of the least favorable components of being a
  landlord. Telephone calls about overflowing
  toilets, AC devices going out in the middle of
  summer, and defective home equipment constantly
  seem to return at a terrible time.
• With property management company like the Freedom
  Realtors in Australia, you can cut yourself loose
  from being called 24/7.
• Your property manager can easily handle all the
  things that you might hate. So, you can even say
  goodbye to frantic searches for plumbers in the
  middle of night and so on.
• So, in the end, hiring a good property manager
  will reduce a bunch of the strain from your
  shoulders, relieve you with headaches that come
  with being a landlord.
• You can sit back, sink into the sofa and gather
  the rent every month, just as you have planned
  for yourself. For any queries or services
  related to managing your rental properties, just
  contact the team of Freedom Realtors, Australia.

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2002 rentals_at_freedomrealtors.com.au Content
Resource https//freedomrealtors.com.au/why-hire-
property-manager-for-your-rental- property/
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