Why Using a Property Manager Can Make a Difference

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The reason you’ve invested in property is you want to make money in the long run. It could be for your retirement, for a lifestyle, for that dream holiday or for your kids’ education. Whatever the reason, you want to get the best return from your purchase.

Some people think managing their property themselves saves them money; we know we’re biased, but we believe this is a false economy.

Good property managers do a lot more than you realise, and you can benefit greatly from the wealth of knowledge and experience they have. Here are some ways in which a property manager can make a difference to your property investment experience:

Your bottom Line

A local property manager knows the value of the rental market in Newcastle and can advise on what can be done to your property to increase your rental income. Property management companies also have relationships with many reliable trades people. This often reduces maintenance costs and ensures quality work is carried out promptly.

Many of your property manager expenses, including any costs associated with advertising for tenants are tax deductible. Make sure you keep all receipts and speak to your accountant who will advise on what you can claim.

Doing the Paperwork

A property manager can also help you by arranging your tax depreciation and providing detailed end-of-financial year reports to your accountant. They can also make sure documents are in order for any insurance claims.

Knowing the Law

A good property manager knows the intricacies of property law. They know what to include in a tenancy agreement – and furthermore, they know what your rights are as a landlord and can advise on the rights of a tenant. They ensure you are operating within the law with your paperwork. They know what you can and cannot do when it comes to evicting tenants and ensure your property is compliant with current legal requirements such as by regularly checking smoke alarms are in good working order.

Time is Money

One of the biggest advantages why many property investors use a manager is quite simply, it saves them time. It takes time to advertise a property, screen tenants, show them the property, draw up contracts, collect rent, manage repairs, pay bills  – the list goes on. A property manager does all this and more, so you can spend your time doing other things.

Peace of Mind

There is a lot to be said about having less stress in your life. Using a reputable, experienced property manager ensures you don’t have to worry about your property. It’s the property manager who takes the call about a broken boiler the day you’re going on holiday. And it’s the property manager who liaises with the tenant and arranges the repairs while you enjoy that well-earned break. It’s also the property manager who regularly checks your property is maintained, collects the rent on time – and pays you!

Handling Negotiations

As well as finding tenants, a good property manager builds up a strong relationship with tenants. This means they can handle the not so pleasant side of communications such as raising the rent or enforcing the rules.

We’re always looking at ways in which to help you get the best out of your property investment. With over 40 years in real estate and property management, our talented team is constantly looking for new and innovative ways to ensure your property investment experience is exceptional. This is why we are one of Newcastle’s longest established property management companies, so give us a call on 02 4956 9777 or pop into our office for a chat.