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Property Management


Property Management Companies

Real estate is a profitable industry that many Australians choose to invest in. Despite the recent economic crisis, real estate has steadily rebounded to be one of the most important industries in many countries. People are now looking to own commercial, industrial and residential properties for the purpose of capital appreciation and rental income. But owning an investment property is not as simple as it seems. Sometimes, you will require professional advice in terms of legal, accounting and tax matters. If you are planning to purchase on mortgage and lease, it would definitely better for you to get the advice of experts before you make that final decision. To answer your needs above, property management is one of the best options for you.

Property management assists you in all of your real estate investment related needs. Right from the financing of the property, to finding the right tenants, to collecting rent, up till when you sell the house, property management companies have the right property managers to help you through each of the steps.

Firstly, property managers have financial and marketing systems of which they follow. In terms of finance, whether it is renegotiating a loan or finding the right house with your current financing, local property managers will be able to assist you greatly. Good property managers can project calculations for you to see how much money you will have to spend monthly in order to maintain the investment property. In terms of marketing, property managers can help you get very reasonable prices for property maintenance and renovations. With long term contracts in hand, property management companies get the best prices for the best tradies and handymen in the market. Therefore, you can be assured of quality workmanship when you entrust these matters to your property manager.

Property Management for Your Investment

Property management companies also have the competencies in terms of tenant management and client relationships. Property managers are trained to understand and research potential tenants of an investment property. A property manager would definitely want to find the best tenants for your investment as putting a bad tenant in place will affect the agency reputation – and the relationship between them and yourself. Property management companies usually have their own office database of tenants and landlords. They also have access to advertising portals such as realestate.com.au and domain.com.au to market your rental to the broadest possible audience of renters. Property managers will match the right landlords with the right tenants, thus ensuring you have a quality lease agreement in place. This will also save you from the fuss of hunting high and low for a reliable tenant who pays weekly rent on time. In terms of rent fees and communication with the tenant, you can also instruct your manager to do it on your behalf. If your tenant has any complaints or issues regarding the rental property, property managers will help you get the right tradesman to fix the problem.

Property managers will also deal with record keeping issues which you have to comply with. Not operating in compliance with Government regulations might cause you a fine, therefore you would want to avoid this at all cost. Property management companies and real estate agencies have staff that are trained in these areas of compliance for them to assist you. Property managers will help you record your monthly rental revenue and expenditure, prepare a statement of accounts and submit your ledger to you ready for the end of the financial year. They will also prepare the lease agreement when lease terms on the rental property are renewed, changed or a new tenant is put in place.

Property management makes your life easier. With the right professional to help you, a lot of fuss and problems can be taken off your mind. If you feel that you need the help of property managers to handle issues related to your property, feel free to give your local property manager or real estate agency offering property management services a call. Or search for a quality property management agency on the Internet. Don’t forget, rentalreturn.com.au can provide you with an instant online rental return estimate for your property.