September 29, 2021 Eview Group

How a property manager protects your investment

If you own an investment property, a property manager is the first line of defence against risks like property damage, unpaid rent, or unsuitable rental occupiers.

The property manager’s role is to look after the property as if it were their own and mitigate any potential problems.

So let’s walk through how exactly a property manager protects your investment.

The right rental occupiers

Selecting the right rental occupiers for your property is critical.

This involves carrying out the proper checks to ensure the rental occupiers can afford the property, are of good character and have a proven track record of looking after previous rental properties.

As experienced professionals, property managers have a suite of tools available to them to screen potential rental occupiers and ensure they are the right fit for your home.

Regular inspections

When it comes to an investment property, regular inspections are a must.

When a property manager inspects a rental property, they are seeking to determine that the home is well cared for and that any minor maintenance issues are dealt with before they become major problems.

In the process they also liaise with the rental occupiers to ensure everything is working as it should, and they are happy in the home.

After all, a good rental occupier is worth their weight in gold and it’s in the interests of the rental owner to look after them in a bid to secure long-term, reliable income.

Maintenance and repairs

Maintenance and repairs are a reality of owning an investment property, and the right property manager works with the property owner to ensure the home remains in tip-top condition.

This might involve handling ongoing maintenance such as gutter cleans, tree trimming, or regular pest control, and also extends to managing any repairs that might be required.

They do this in the knowledge repairs and maintenance protect the long-term value of the asset for current its rental, future rental and any potential sale.

Negotiations

In many ways the property manager is the ‘middle-man’ between the rental owner and the rental occupier.

In this role, they handle all negotiations, including managing new rental agreements, sorting out any repair or maintenance requests, organising tradespeople, and also handling the process of readvertising the property then letting it when a rental agreement ends.

This skilled practice involves a balance of organisation and negotiation, and protects your property’s value as an income-earning asset.

Advice

While all the above are in the job description of a property manager, a truly good one will protect your investment in ways that are hard to quantify.

They will be there as a sounding board for the rental owner, providing advice on things like rental price, any improvements that could feasibly be made, and also the property and rental market in general.

In short, they will become a trusted property advisor, working with the rental owner to achieve the best outcome possible at all times.

You can learn more about the questions to ask any potential property manager here.

How we can help

Our experienced property managers pride themselves on establishing great relationships with both rental occupiers and owners.

We manage every property as if it were our own and you can learn more about our property management services here.

Alternatively, if you are looking to rent a property, you can view the properties we currently have available here.