Six occasions when you need a property manager’s expertise
As a rental owner, the benefit of having a property manager is that you have an expert on hand who knows the property, understands the market conditions, and appreciates your aims as an owner.
This insight and expertise is invaluable when it comes to an investment, and at some times it’s required more than others.
Here are six occasions when a rental owner really needs their property manager’s expertise…
When the property is vacant
Whether you’re renting the property out for the first time, or seeking to attract new renters, a property manager is the expert to advise you of the right rental price for the property, depending on market conditions.
They will also offer their insight into the type of renter your property is likely to attract or any improvements that might be required and features that should be highlighted to attract the right type of renter.
An expert property manager will then handle all the steps, such as hosting open homes and screening applications, to ensure the property is rented as quickly as possible.
When something goes wrong
A property manager is the person or who steps in on the owner’s behalf when something goes wrong. In fact, their core role is to minimise the chance of anything going awry.
They’ll keep you abreast of the property’s condition, ensure the rent is paid on time, advise you of any repairs that should be made, handle that maintenance and also contact you quickly in the case of an emergency.
Over the life of a rental agreement this provides the owner with the peace of mind that the property is being looked after as it should be, and the investment is serving its purpose.
When the agreement needs renewing
When a rental agreement is nearing its end, your property manager will step in to ascertain your intentions and those of the current renter.
If it’s your choice to renegotiate a new rental agreement with the current occupiers, the property manager will draw on their expertise to make this as smooth as possible, navigating any rent rises and conditions required.
Should the renter vacate, they will look after advertising and securing a new occupier quickly, all while ensuring the property is in the best possible condition.
When the law changes
Rental laws can change over time, with new rights and responsibilities for both rental owners and occupiers.
It’s a property manager’s job to stay abreast of these laws and ensure both owners and occupiers are aware of any changes and adhere to them.
When the unforeseen happens
As smooth as the rental process normally is, occasionally the unforeseen can occur, such as natural disaster, an issue with the neighbours or a renter who needs to break their agreement.
This is where a property manager’s expertise is invaluable.
They are there to offer their assistance and advice, and keep you apprised of what’s going on.
They will help you navigate any legal or insurance issues, and ensure your property is returned to the rental market as quickly as possible and back to earning an income.
When the rental market shifts
Like any market, the rental market works in cycles. Sometimes there’s a low vacancy rate and the price for properties is high, with a pool of renters all vying to find the right property for them.
At other times the market might be slower.
A property manager always has their finger on the pulse of what’s going on in their area, with deep insight into how many properties are available, the price they command and the volume of renters seeking a property at that time.
This insight helps you ensure your property is priced correctly and that it will attract the right type of renter quickly.
How we can help
Our experienced property managers pride themselves on establishing great relationships with both rental occupiers and owners.
We manage every property as if it were our own and you can learn more about our property management services here.
Alternatively, if you are looking to rent a property, you can view the properties we currently have available here.
