When should you hire a property manager?
You should consider hiring a property manager (PM) if:
1. You have one or multiple properties
Investment properties can be a handful to manage sometimes. When this is not your field of discipline, you should not manage more than 3 properties on your own without professional help.
Don’t wait until you hit a breaking point. You do not want to be desperately looking for help. Finding the right property manager for you is something you want to take your time with.
2. You don't live near your rental property
In the last 5-10 years, the field of real estate has utilized technology where it has become a great asset to the industry. Since the beginning of Covid-19, our generation has been forced to adapt to changes with how we conduct day-to-day activities, and of course, business. There are many more interstate investors now, and one of the concerns owners are facing is not living near their investment property.
Wings Real Estate is located centrally in the coastal southeast part of Queensland. The Gold Coast being as large as it is, we are located in Helensvale where we can reach Brisbane or Coolangatta with ease.
3. You're not interested in hands-on management
Ideally, in an investment property, you want long-term tenancies. It’s not every day that you will find a tenant that pays rent on time, looks after the property and has a winning personality. When conflict arises, it can be difficult; and when it is not handled correctly, conflict can cause tenants to move out, take legal action, or damage your property.
Property managers build relationships with all types of people every day. They play as a middle man that can manage the tenants (and their behaviours), whilst achieving your goals at the same.
4. You are time poor
Being a landlord takes time, and it takes hard work. If you are finding that your tenants are raising issues that you simply do not have time for, this will not be the first time it happens. Obtaining the right property manager, you will be up to date with your property, without having to do the leg work.
5. You don't want to deal with a legislative requirement
With legislation in place, leave it to the professionals. Leave it with a property manager that knows and understands the legislation well, ensuring that you have someone in the front row defending you and your investment if things were to take a turn for the worse.
If you need any further assistance or have any questions, please contact our Property Management Team on 0406 644 188.