5 ways you can maximise your investment by partnering with a property manager
With Mount Barker (and Nairne) featuring in numerous round-up lists of the fastest-growing areas in South Australia, your idea to buy a house might turn realistic. Of course, there are many factors to consider, beyond suburb expansion and cost.
Time might be a concern for you, too. But, as you know, there are other ways to make property work for you than a simple buy-move in exchange. We’re seeing more of a trend for people to buy property, rent it out, then maintain their lifestyle elsewhere. This is lucrative for young people who ‘want it all.’
And there’s one important person that’ll make this happen: a property manager.
Partnering with an Adelaide Hills property management team is as close to a ‘buy and forget’ (well, grow) as it gets. Whether you’re looking for an Adelaide Hills house for sale to rent out or you’re currently an investor who manages the tenants, consider handing it over to a property manager.
Do I really need a property manager?
You can manage tenants, the legalities and collect the rent yourself, of course. But, just because you can do it, this doesn’t mean you should. Time and skills are the two important points to consider.
Do I have the time to self-manage? If yes, do I have the right skills? No? You’ll love what a property manager can do.
1. Attract high-quality, loyal tenants
Without Adelaide Hills real estate experience, your screening process won’t suffice. Your property manager follows a professional screening method that determines if a potential tenant can (and will) pay rent on time, and has a positive history. This will avoid unpaid rent, property damage, and ongoing issues.
2. Less legal problems
Property managers understand local and industry laws that you may, very well, be unaware of. This will protect you with important details like property conditions, tenant evictions, inspections, signing and terminating leases and collecting rent.
3. Shorter periods of vacancy
Without a tenant, the property isn’t generating any income. A property manager will reduce vacancies, determine the appropriate rate and market the house.
4. Long-term tenants
Speaking of vacancies, your manager will keep your tenants happy, so they’re likely to renew the lease. This will minimise the costs associated with tenant turnover, like professional cleaning, repainting, marketing and screening.
5. Collecting rent efficiently
Organising the money yourself can get, well, very messy. Not to mention confusing at tax time. Guarantee reliable cash flow with a manager who is the ‘buffer’ between you and the tenants. If things go pear-shaped, they’ll handle the eviction process, following the necessary laws.
There’s plenty of other reasons to have a property team advocating on your behalf. You’ll notice less repair costs, reduced stress, more free time, and most importantly, one step closer to financial freedom.
Yes, it is real. To learn more about how property management companies can increase the ROI on your investment, talk to Nitschke Real Estate. This is your largest investment. Small gains can make a big impact, long-term.
