If you have a rental property, you may think that it will be easy enough to manage it yourself. It’s possible you’ll get lucky with a great tenant and very little maintenance. However, proper rental management requires knowledge, experience, and an understanding of landlord and tenant legislation – which is changing all the time. Even if you can manage on your own, do you want to? It takes time and can cause stress. There are a number of benefits to having your investment home managed by a professional.
DIY versus Professional Home Management
When you’re managing your own property, you have to be prepared to respond to tenant problems. These problems and emergencies may occur overnight or during holidays. You’ll have a hard time taking time off when you know there could be a maintenance problem at your rental home that requires your immediate attention. Your property manager can be the point of contact for your tenants and any of their problems. This allows you to have more time and freedom to do the things that really matter to you, whether that’s working on your own career, spending time with family, or pursuing other passions.
What Does a Property Manager Do?
When you put your property in the qualified hands of a professional manager, you won’t have to worry about day-to-day headaches like rent collection, scheduling repairs, and responding to emergency maintenance. Your property manager will market and advertise your property, find a great tenant who will follow the lease agreement and pay on time, and take care of your investment. Property managers understand the laws and regulations that are involved in renting out property, and they protect you and your interests. A good property manager will reduce your vacancy and turnover times, and help you earn more on your investment.