Australia is a fast growing economy with political stability, good climate and lifestyle.
The country offers many opportunities to investors to buy real estate. There are countless opportunities for investment to buyers and sellers. Today, there is still a huge market demand because people are looking to rent and buy.
The management factor
Investing in real estate is profitable. Some issues arise when a person has decided to invest in this area. After investing, one must find a suitable company to do the property management. Property management is the administration process of commercial, residential or industrial real estate. The process involves hiring a realtor company to manage land, homes and commercial building on behalf of the landlords. The managers act in the name of the landlords carrying out different errands. These include collecting rent, advertising, carrying out maintenance and listening to tenant complaints and then ordering a particular action to be done. The property manager contracted gets paid on a commission or a percentage of the rental income collected.
Is there a need to hire property managers?
The most important reason why you should consider hiring a property manager is they act as a medium of communication between the landlord and the tenant. If there are issues with tenants (late payments, maintenance, damages, etc.) the agent looks after these issues, thus reducing any stress of owning an investment.
Engaging a real estate agency that offers property management services is important as it brings the following benefits.
- The property manager ensures the Landlord gets high-quality tenants. They do not just select a tenant because they would be paying rent. The agencies do screening of potential tenants to see if they pay on time, look after the property and are well behaved tenants.
- The property manager ensures that everything is legally sound and binding. They should understand the state and council rules defining the rental collection, lease termination, evictions, screening, inspection and proper handling of security deposits.
- A professional property manager ensures there is a timely rent collection process. Before a tenant is allowed occupancy, they have to sign documents printed by managers on how they will pay the rent and the deadline to which it is not acceptable. The landlord gets their money at the right time.
Other Benefits
- Stabilising higher retention rates
- Simplifying the oversight and accounting
- Making it easy to do low maintenance and repairs of the property
- Increasing the investment value
- The landlords’ benefits include less stress, more freedom and effective management of the property.
Call Fundamental Property Investment on 1300 790 773 for more information.