The Right Brisbane Property Manager Benefits Owners: Check Out 5 Reasons Why
If you’re a landlord or aspiring to be one, owning a rental property is an exciting venture. So you'll be concerned about how to choose the right Brisbane property manager. You'll particularly be interested in how they can be a benefit to you. After all, you’re ready to sit back, collect the rent and retire to a tropical beach, right?
While that’s certainly a worthy dream, investment property management is also many other things. It is a time-consuming, hands on job that requires knowledge, skill and the ability to stay on top of the variety of tasks necessary. Keeping ahead of the game is essential to safeguard your valuable investment.
As a landlord you'll still have your own busy life. Add to that the possibility that you may also need to deal with:
- tenants who refuse to pay,
- late night phone calls about broken plumbing
- and the stress of keeping your property occupied
- not to mention the complexities of staying on top of negotiations and contracts.
The good news is, you don’t have to do it alone. A Position One Property team member can make your role as a landlord so much easier.
Let’s check out 5 reasons why.
1. Your Position One Brisbane Property Manager does the legwork for you
Rental Price & Occupancy
Initially, you want to make sure your property is rented at the highest possible price. You also want to aim to have the property continuously and consistently occupied. With thorough knowledge of local rental markets, an experienced, intelligent and attentive property manager is able to give accurate rental appraisals, so you start off on the right foot.
The key term here is accuracy, because if the price is too high, you may be stuck waiting for a tenant. If the price is too low, you may attract the wrong type of tenant and you’ll potentially lose money on your investment. You might also need to make adjustments to your property, to ensure higher occupancy rates. With access to data on comparable properties, advice on how to best present your investment and local expertise on your side, you can be confident with the price you set.
Marketing Your Property
Following an appraisal, access to internet marketing and lists of tenants ensures a pool of suitable people wanting to rent are on hand. Occupancy rates can suffer if you're scratching your head, wondering how to find those people who want to rent your place. Your property manager understands how to advertise and works to ensure you’re never short of rental candidates. This means you can move on to the next phase, quickly and without the headaches of deciphering the ins and outs of an ever-changing marketing landscape.
One of the most time-consuming aspects of being a landlord is having to conduct viewings of the property. Many people wish to do so in the evenings or on the weekends, which can be inconvenient, to say the least. A property manager helps to free your time off, by showing prospective tenants the property, for you.
With a professional eye, and a rigourous application and selection process, they’re also able to determine the qualities required in a suitable tenant. This is an invaluable tool, as often stress, time-constraints or the need to ensure occupancy leads to rushed decisions by DIY landlords, which may negatively impact your investment in the long run. The number one priority to protecting your investment is undoubtedly tenant selection.
2. You Benefit From Superior Tenant Selection
It’s surprisingly easy to make the mistake of selecting the wrong tenants and one that’s hard to rectify. Property managers offer a wealth of experience in dealing with prospective tenants, having seen and analysed numerous applications.
For example, it’s imperative that stringent security and reference checks take place, via Australia’s database of defaulting tenants TICA. You also want to be completely confident your tenants have a proven record of paying on time and treating properties with the utmost care. A property manager ensures the suitability of all candidates, before submitting applications for your final approval.
Once you’ve selected your tenant, there’s no need to worry about the complexities of contracts either. Your savvy and up-to-date Brisbane property managers at Position One Property make it their business to be up-to-date with legislative changes. They know how to ensure contracts are properly initiated, terminated, and everything in between.
3. Your Property is Safeguarded
Whether you live locally, interstate or overseas, it can be hard to regularly check on your property. You will undoubtedly wonder whether everything’s running smoothly. You can leave this in the hands of your local Brisbane property manager, as they conduct inspections on a regular and consistent basis.
Not only does this offer you peace of mind, it enables you to stay on top of any repairs and general maintenance that require attention. If your tenants are not meeting the terms of their lease, you’ll have all the help you need to find solutions to issues, for continued rental success.
4. You Stop Being the Bad Guy
Obviously, receiving funds in your bank account each month is paramount to maintaining your investment. It can be tricky and time-consuming to deal with tenants, who may have a variety of reasons as to why they can’t pay their rent on time. Worse still, you don’t want to have to embark on a drawn-out journey of tracking down rent.
With strict, professional policies in place, a property manager takes immediate steps to reduce the risk of rental arrears or necessary eviction. As they understand legislation, they can navigate the complexities of this, so you avoid messy legal problems.
5. You Get Your Life Back
It’s easy to become personally involved in your property or your tenants when you’re a landlord. As a business though, it’s much better to keep the relationship strictly professional. Not only does this free up your time, it helps to maintain the necessary processes that reduce any risks.
With a professionally managed property, chances are you’ll see less turnover of tenants, which means less outlay during the process. This is because our property management company strives to ensure tenants are happy also, so you benefit from the security of longer leases. Along the way, rental prices are reviewed, so you can stay competitive in the rental market.
A cleverly chosen Brisbane property manager acts as a ‘middle-man’ between you, your property and your tenants. This means you can concentrate on making the most of the financial benefits your investment yields.
Can’t wait to get your life back?
Contact us today to experience what it's like to work with a best-practice property manager. And then watch your investments grow!