Many property investors choose to manage their property themselves and some are quite successful.
However, with the time that is involved in collecting rents, managing arrears, arranging repairs, ensuring that the rent is at a market level, finding the best tenants (together with checking references), most owners have discovered that their time is valuable and more efficiently spent on other tasks.
These investors also tend to become personally involved with their renters, so the ability to deal with rent arrears and increasing rent becomes a challenge as there is no middle man to complete these unsavoury tasks.
A good property manager will make you money on your investment, not cost you money and, of course, their fee is a tax-deductible expense!
It is also wise to consider the legal implications of property management today. We are living in litigious times with tenancy laws and their interpretations changing regularly, a property owner can ill afford to handle a problem tenant in an incorrect manner.
Professional property managers understand tenancy law and are abreast of the constantly changing legislation governing them. We can give you impartial advice and undertake your instructions on your behalf without you becoming personally involved.