3 big ideas
What made us think
Our point of view
Why it matters
How it applies in the real world
"Do I need a property manager?"
Well, as a business owner, principal, and Property Manager, I'm always going to say yes.
It's a huge industry in Queensland and if you can find the right Property Manager, they can not only iron out the wrinkles of managing your investment properties, but also advise on opportunities to keep your investments earning potential at a premium.
But finding the right Property Manager for you, that's in another video.
Today, let's look at just a few parts of property management that will be taken care of for you.
Let's start with the basics.
Yes there's collecting the rent, lodging and managing bonds with the RTA, then comes preparing and activating a marketing plan targeted to the right tenant for your property. Then there's assessing tenancy applications, including obtaining written references from former landlords. And also, qualifying their income so that you can be assured that rent will be paid week in week out (capacity to pay is qualified). We do everything within our power to make sure your rent is paid on time and in full and always reccomend you protect yourself further through landlords insurance. Sadly in the rarest of instances we do need insurance.
Not forgetting correctly and accurately preparing the lease.
Managing maintenance on the property, which should include obtaining three quotes from pre qualified trades people. So that you can be assured you're getting the right price, the work is completed on time and to superior standards.
Property Manager's can also pay the accounts associated with the property (from rental funds collected).
And of course, conducting routine inspections. These inspections should include, an invite to you as a property owner to attend, and also a written report for you to review. In that report the best Property Managers will discuss market trends with you, growth opportunities for your investment including rental reviews, capital investment opportunities to improve your return, help with depreciation schedules, and relevant changes to the legislation that could impact your property.
The best Property Manager will save you time, keep you and your property front of mind, understand interpret the legislation for you, and be available when you need them.
Yes, there are fees involved, however a great Property Manager will always be working to add value to and your property, as well as keep your tenants feeling at home and secure so that your property continues to be the investment that you hoped for.
Thanks for watching, I'm Andrew from True Power Realty.
And if you like this video, please share it with a friend.