Property Management
A big decision for landlords is whether to manage their rentals themselves, or pay a property manager to do it for them.
Managing your rental yourself can be more cost effective, but sometimes it can be demanding as attending to requests, queries, and maintenance can be frustrating and time consuming.
What services do Property Managers provide?
To keep your landlord insurance valid, your property manager should meet your landlord obligations so you don’t need to worry about them yourself.
Some of the other main services of a Property Manager include:
- Finding new tenants when the house is empty
- Assess prospective tenants’ suitability and review reference checks
- Collect rental payments from tenants
- Carry out regular property inspections to ensure you comply with your insurance policy.
- Deal with and look after tenants – answer queries, book tradespeople for repairs, and generally act as a go-to for tenants.
- Deal with the legislative ins and outs.
- Regular rent reviews
- Assess and recommend improvements to your property so that you can attract higher rents and better tenants
Can a property manager lodge a claim on my behalf?
Any claim must be initially lodged by yourself as the Insured, part of the claims form includes legal declarations and statements that only you can complete. You can, however, nominate a property manager or another agent as part of the lodgement who you authorise to act on your behalf once the claim has been submitted.
Pros and Cons of using a Property Manager
While self management might save you a property management fee, having the right property manager could mean higher rents and less days unoccupied meaning more rental income.