Why you should consider hiring a property manager

Why you should consider hiring a property manager
By Scott Bentley


Why you should consider hiring a property manager

When you have one or more investment properties, it could be worthwhile enlisting the help of a property manager. A property manager can take over the day-to-day management of your properties.

 
First National Marlborough's head of property management, Mariette Knudsen, says if you don't want to deal directly with tenants, or simply want more time for yourself and your family, a property manager is the answer.
 
"It means you don't need to worry about ongoing requests for maintenance, collecting rent, locating tenants or putting the house on the market when a lease is finished," Mariette Knudsen says.
 
"A property manager is particularly helpful if you have multiple rental properties, especially if they are far apart, so making it more difficult to manage them effectively."
 
The property management team at First National Marlborough are also fully converse with all new legislation now required under the Residential Tenancy Amendment Act 2019. The amendment includes insulation statements, healthy homes statements, insurance statements, etc.
 
“Failure to use the correct format of the tenancy agreement can result in substantial penalties.”
 

Save Money

 
Those times when you have a vacancy between tenants need to be kept at a minimum, and this too, is where property managers come into their own.
 
"Vacant properties are a cost. As the manager of the property, we know what cosmetic improvements will be needed before the property goes up for lease, so we can arrange to have those improvements done in a timely way when the previous tenant moves out.
 
"We also know the going rental rate for similar properties in your area. We have well-refined, multi-platform marketing strategies and we will limit the amount of time that your rental property is vacant in between tenants," Mariette Knudsen says.
 
Having a professional manage tenant turnover will help you save time and money, with a tighter rent collection process ensuring your cash flow from the property is consistent.
 

Streamline the Process

 
Choosing to hire a property manager for your rental property can also lead to lower maintenance and repair costs.
 
"We have a network of trusted and proven licensed builders, painters, gardeners, and tradespeople for property repairs as and when needed."
 
This saves you the worry about whether the work being done is of high quality.
 
An essential of ensuring good tenants is the initial screening process.
 
"We know what to look for; the checks needed, and we can screen potential tenants more effectively than you might have been able to do yourself. This results in more reliable and trustworthy tenants as well as rent that's paid on time, lower and less frequent repair costs and more likelihood of a longer-term arrangement."
 
Deciding to employ a property manager is a good idea as well if you don't wish to deal directly with tenants. This puts a buffer between you and your tenants, enabling the relationship to remain on a business basis.
 
Tenants also understand that as property managers, we are simply doing our jobs and are obliged to follow the terms of the lease, as they are also obliged to do.
 
Please call the team from First National Marlborough to find out more about how we can help remove the worry from your investment management.