Owning an investment property that is rented can bring about many financial benefits for the owner. Naturally, however, there are times that an investment property may mean you have to spend money on repairs or deal with unsavoury situations regarding late rent or abandoned properties or even lose money while the property is left vacant. While spending money on repairs is unavoidable it is most desirable to avoid any other downfalls. This is where you need a reliable property management company taking care of your investment for you.
Being a landlord is more than just collecting rent
You may not realise but there is a bit more work involved with managing Brisbane real estate than just collecting rent. To begin with, you need to be able to show prospective tenants the property and perform the needed background checks when applications are submitted. Today there are many laws regarding rental properties that must be adhered to by all parties and so when signing up a tenant you need to have appropriate paperwork and information regarding tenancy agreements. Once this is done you need to be able to completely oversee all goings on with the property. This is everything from ensuring rent is paid on time, that appropriate maintenance is carried out and that inspections are done to make sure that the property is being treated as it should be.
That’s not all! At the beginning and end of each tenancy you need to complete a report on the state of the property and act accordingly where damage is found. It really is a big job and the list of things to do can go on and on. So why would you want to do this yourself or even worse, leave it in the hands of a company that considers property management the least of their priorities? While real estate agents may have all the knowledge required to successfully run a rental property, they simply may not allocate the time or the manpower for it. Sales is the top priority of real estate whereas for a property management company, property management is all they do.
Listing your Brisbane real estate with a property management company means that they will concentrate wholly on the running of your property and ensuring it has suitable tenants. Their attention can not be turned away in favour of sales as property management is their business.
You wouldn’t ask a car salesman to service your car so if you have an investment property that you would like run perfectly then talk to a property management professional.
Contact us today for a FREE rental appraisal.