Do you have an investment property? Are you unsure whether to manage it or invest in a property management service to help? Having a tenanted investment property can be a stress-free way to make extra income, but there’s much more to consider than simply finding a tenant and giving them the keys.
A trusted property management service will help you find and keep tenants, manage them once they are in your property, and ensure they are looking after your property. After you’ve purchased your investment property, hiring property management services is another investment worth making.
Property management services will manage your tenants
Finding reliable tenants is complicated. You must manage inspection times and be at the house to show people around. Tenants will likely have many questions that your property management service can answer.
Once you have applications, your property management service can conduct the necessary background and financial checks to ensure that the applicants can afford to live and will look after your property.
While this might seem like something you could do yourself, there are regulations around renting properties – regulations that often change. You can keep on top of these regulations yourself or rely on an expert property management service to help.
Property management services will help you avoid legal troubles
Along with the organization and administration that comes with finding and managing tenants, property management services stay on top of the legal requirements for landlords, so you don’t have to.
There are standards that your home must meet in order to be legally rented out. For example, in Victoria, you have to provide heating, and you can’t reasonably refuse a pet. A property management service will be well-versed in all of these requirements and ensure that your property is rented out in accordance with these obligations.
Property management services will make sure you get the best return
Property management services live and breathe the real estate market they work in. This means they’re across the local rental prices and will help you get the best return on your investment. They’ll compare your property to others in the area so that you stay competitive and put the rent up where appropriate.
Your property management services will also conduct regular inspections of your property and check that your tenants are maintaining it. Your real estate agent from the property management service will advise if any upgrades are needed and how much additional rent you could charge if you make the upgrades.
If you’re looking for property management services in the Point Cook area, rely on the experts at Est Property https://www.estproperty.com.au/ to get you the best return on your investment.
