Choosing an effective property manager for your investment property can make all the difference. At a minimum you want an effective communication system where you stay informed about any mishaps, tenant uncertainty, damage, or repairs required. Effective communications help you to build a high level of trust.
Some of the characteristics of a good property manager are:
- Constantly striving to maintain vacancy rates at a low level
- Open communication to both you and your tenants
- Provides cost- effective recommendations for maintenance (Aims to space out costly repairs and upgrades instead of them occurring all at once)
- Ensuring rent reflects true market prices
- Up to date with the latest trends
With good property management comes an active approach to ensuring you’re getting the best return on your investment today and in the future, by constantly searching for ways to maximise it
One of the easiest ways to reduce your risks around things like a sudden downturn in the market or strains in rental affordability is to have a good property manager working for you, who is keeping abreast of trends.
An experienced property manager will also stay up to date and understand the tax benefits you could be receiving within your investment. As a result, during tax time maximum benefits can be achieved.
The difference between a good, and an average property manager will all come down to how much of your time you need to put in, to make sure your property is looked after, your rent due is paid and the right future plans are in place. This difference in the long term can make or break your investment.
Purchasing a property is a huge financial investment, as such it is vital to ensure that you have done your due diligence to avoid any large unexpected expenses, repairs and stress with your new property. We are driven to ensure that all owners of an Owners Corporation have the relevant information and tools to allow them to make astute and informed decisions, which will see their investment grow and help create a long-term harmonious Community. Get in contact today for any of your Strata Inspection Report needs!