The essential role of a property manager for your investment journey.
You’d be forgiven if this was your train of thought, too. This is why we’re creating this resource, to help educate you about the importance of a property manager. We’re going to go as far as to say, without rental management, you’re not maximising your investment. At the very least, your journey, owning an investment property will be harder.
See, there’s the practical aspect of rental property management. Sourcing good tenants, collecting rent, arranging repairs, and completing regular inspections. But part of the property management cost, and in our eyes the most essential, is the emotional support.
As a property owner who is leveraging real estate to grow your wealth, you’ve already got your house to look after. Having to oversee a second home is like having another job. It really is. So, we’d like to pose this question: do you have the mental capacity and free time to maintain a second house? In reality, most people don’t.
Property management is a specialist job
Property managers are trained to maximise your weekly rental income. It’s their duty to care for your property and the people living there. Investors who try to self-manage, end up handling the logistics, at best, without going that extra step to satisfy the tenants (who are a key piece in garnering long-term wealth).
Because this is what they do day in, day out, property managers have greater access to reputable local tradespeople to carry out work. Tenants also find it easier to talk to a property manager, rather than going straight to the landlord – who might feel like a boss breathing down your neck. For the tenant, it can feel like an invasion on their home, which if they’re paying rent for, certainly is.
So, who calls the plumber?
This is a rhetorical question, but a realistic one. The benefit of having a property manager is you don’t have to worry about dropping everything and arranging an emergency plumber.
With a property manager representing you, the responsibilities you have as a landlord are very few. You need to provide a safe, clean and liveable environment for your tenants. In fact, you might never speak with the people in the house, as your property manager does regular checks, handles queries, issues, repairs, and wear and tear.
It sounds great, right? It is. But this puts more weight on the property management team you partner with. Just like every relationship, trust and communication are two important principles to look for. The property manager-landlord relationship is the secret ingredient to happy tenants and a fruitful investment.
Our award-winning team of managers would love to sit down with you.
Are you thinking about buying a house in the Adelaide Hills and want to rent it out? Need a property manager for your Mount Barker, Littlehampton, Nairne or Strathalbyn home? Contact Nitschke to find out more about how our family can help yours.
