Why Professional Property Management Makes Sense
Why Professional Property Management Makes Sense
If you're a landlord, you know that managing a rental property yourself can be a time-consuming and sometimes stressful job. From screening tenants to processing pet applications, handling maintenance requests, conducting regular routine inspections and complying with legislation, there's a lot that goes into ensuring your property is profitable and well-maintained. That's why many landlords opt to hire a property management company to take care of the day-to-day tasks associated with managing a rental property.
If you're wondering why it just makes sense to outsource this task to professionals, the following are some of the key reasons:
1 - Professional Tenant Screening
One of the biggest benefits of hiring a property management company is its ability to screen potential tenants professionally. They will conduct thorough background checks, including rental history, employment and credit checks, to ensure that you get reliable tenants who pay rent on time and take care of your property.
2 - Better Rent Collection
A property management company can help ensure that rent is paid on time and in full. They will handle rent collection and enforce breaches, in accordance with legislative requirements, so you don't have to deal with the stress of chasing down payments personally.
3 - Effective Marketing
A property management company can also help you market your rental property more effectively. They will use their experience and knowledge of the local market, and optionally their relationships with professional photographers and copywriters, to ensure that your property is presented in the best possible light and promoted through the most effective digital channels to attract high-quality tenants.
4 - Efficient Maintenance and Repairs
Managing maintenance and repairs is one of the most time-consuming aspects of being a landlord. A property management company can take care of all maintenance and repairs for you, including emergency repairs. This means you won't have to worry about scheduling appointments or dealing with contractors. The pros handle this process day-in and day-out, and provide easy access to keys and instructions to a pool of trusted tradespeople.
5 - Compliance with Local Laws and Regulations
A property management company is well-versed in local laws and regulations related to rental properties. In Queensland, this means being intimately familiar with the Property Occupations Act 2014, the Property Occupations Regulation 2014 and the Residential Tenancies and Rooming Accommodation Act 2008. They will ensure that your property is managed in accordance with relevant laws and regulations, including ensuring that notices of entry are issued on time.
6 - Improved Tenant Communication
A property management company can also handle all communication with tenants on your behalf. They can handle tenant complaints and requests, ensuring that they are resolved quickly and efficiently.
7 - Peace of Mind
Ultimately, hiring a property management company can provide peace of mind, allowing you to relax in the knowledge that your investment property is in good hands. You can rest easy, knowing that everything from tenant screening to maintenance, re-letting and legal compliance is being handled by professionals who know what they're doing.
Hiring a property management company can save you time and reduce stress while helping you maximise the return on your investment property. So why not consider entrusting this responsibility to the experienced team at Wings Real Estate today? Your investment property (and your stress levels) will thank you! Let's connect.