BH Partners Blog

Advantages of using a Property Manager.

Nov 20, 2023 9:53 AM

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Using a Property Manager can offer several benefits for property owners, whether they own residential, commercial or have multiple properties to manage. Here are some advantages of using a property manager.

1. Time and stress management: Property Managers handle day to day tasks, such as finding and screening tenants, handling maintenance and repairs, and dealing with tenant issues. This frees up the property owners time and reduces stress associated with these responsibilities.

2. Tenant screening: Property Managers can conduct thorough tenant screenings, which can help reduce the risk of renting to unreliable or problematic tenants. This can minimise issues such as late rent payments and property damage.

3. Rent collection: Property Managers can handle rent collection, ensuring consistent and on time payments. They can enforce lease agreements and policies, addressing late payments or non-payment promptly.

4. Property Marketing: Property Managers have experience in marketing rental properties, helping to fill vacancies quickly and minimise income loss. They can advertise properties, show them to potential tenants, and set competitive rental rates.

5. Maintenance and repairs; Property Managers can oversee maintenance and minor repair work and have a network of trades people whom they can call on to get the job done. This helps to ensure your property is kept in good condition.  

6. Legal compliance: Property Managers are knowledgeable about relevant landlord-tenant laws and regulations. They can help property owners avoid legal issues by ensuring all leasing agreements and property conditions are compliant with legislation.

7. Tenant relations: Property Managers act as mediators between property owners and tenants, handling communication, concerns and requests. This can improve tenant satisfaction and reduce the property owner’s stress.

8. Market insights: Property Managers have a deep understanding of the local real estate market. They can provide advice on setting appropriate rental rates and assist you in making informed decisions about property investments.

9. Emergency response: In the event of property emergencies, Property Managers can respond quickly, this can be especially important for property owners who live far away from their rental properties.

10. Financial Management: Property Managers provide receipts and invoices to tenants as per legislative requirements and property owners with detailed summaries of income and expenses related to their investment property.

11. Long-Distance Ownership: Property owners who live far from their rental properties can benefit greatly from Property Managers who are local and can take care of the day to day operations on their behalf.

12. Peace of Mind: Having a Property Manager can provide peace of mind, knowing that your property is being professionally managed and that issues are being handled by experts in the field.

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