Once the sales contract has been signed and settlement has occurred, suddenly you’re discovering there is a lot you need to know about becoming a landlord.
How do you find a good tenant? How much rent should you charge? What happens if the tenant stops paying rent? But perhaps the first question to ask is, should you hire a property manager?
Here are ten good reasons to hire a property manager for the ongoing management of your valuable investment property:
A property manager looks after every aspect of managing your investment property and the tenancy agreement. They can provide expert advice on things like current market rental conditions and compliance issues regarding the property.
One of the benefits of a property manager is that they remain informed about updates to Queensland’s regulations regarding tenancy agreements so that you don’t have to. The Property Manager acts in accordance with the rules and regulations imposed by Queensland’s Residential Tenancies Authority.
Part of a property management service is finding (and retaining) good tenants. A property manager will conduct private property viewings or open inspections, they will screen the applicants based on selection criteria, they’ll conduct reference checks and submit to you a choice of top candidates.
When a suitable tenant is found, the property manager will prepare the tenancy agreement and ensure the tenant is aware of their obligations. This is an important step when it comes to protecting both the landlord and the tenant’s rights in accordance with the Residential Tenancies and Rooming Accommodation Act 2008. The property manager will also handle tenancy renewals.
The property manager will collect the bond and lodge it in accordance with the Queensland Residential Tenancies Authority’s regulations regarding bond lodgement. When the tenant leaves they will manage all aspects of the tenancy termination process.
A property management service collects the rent, follows up on late payments and ensures rent arrears are minimised to protect the landlord’s financial investment.
Regular property inspections ensure the home continues to be maintained in good condition and that the tenancy agreement is not being breached. A property manager conducts property inspections in accordance with Queensland’s residential tenancy legislation.
Property managers will liaise between tenants and tradespeople, arranging suitable times and access to the property for the purpose of obtaining quotes and for carrying out necessary repairs and property maintenance.
A property manager who communicates well with tenants can better manage tenant retention, avoid problems and negotiate for the best interests of both the tenant and the landlord if required.
A property manager is responsible for the payment of transactions such as council rates and strata fees or levies. They will prepare financial statements for the landlord.
Shiva Real Estate offer a comprehensive property management service. If you’d like to increase your investment property portfolio while decreasing your stress as a landlord, speak to us today!
Redbank in the City of Ipswich, Queensland, is one of the most promising suburbs in the outskirts of Brisbane that is growing quite rapidly. The suburb is situated approximately 25 kilometers west of Brisbane’s CBD and provides an ideal blend of
Introduction Redbank Plains, in the Ipswich City Council local government area of Queensland, Australia, is a rapidly developing suburb that has become popular because of its mix of city convenience and
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