As a property owner, you, of course, need to know how to manage your properties well. You need to find good tenants for your properties, ensure they follow the agreed-upon lease, maintain your properties and so on. This property management can be a lot for one person, regardless of how many structures you own or how many people you rent to. Any landlord wishing to bring out their work’s full potential should consider hiring a great property manager.
Hiring a property manager is another expense. So, many landlords wonder if the choice is right for them. Do you really need a property manager’s help? What should you think of when making your decision?
What Do Property Managers Do?
First, if you’ve never worked with one before, you’re most likely thinking about what a property manager can do for you. What specific tasks will they assist you with?
The answer to this question can vary from company to company, so you should always check your specific property management company’s services before you hire them. In general, most property managers offer services including but not limited to:
- Property Maintenance. Maintenance can include regular upkeep, cleaning and anything else that keeps your properties functional and beautiful.
- Setting Rent. Finding the right rent number can be very difficult. A skilled manager can look at your property’s details and the local economy to create a reasonable rent price.
- Finding Tenants. Experienced property managers will know how to analyse potential tenants to pinpoint the most reliable ones.
How Do I Know If I Need A Property Manager?
All of the wonderful things that property managers can do – including the countless services that we haven’t mentioned – are clearly very helpful. If you’re still having trouble deciding, consider asking yourself these pertinent questions:
Do I Want The Help Of Someone With An Excellent Level Of Expertise And Property Knowledge? One of the most helpful advantages of working with a knowledgeable property management company is that you’ll work with experts who know what they’re doing. They’ll have heaps of hands-on experience and training that’ll certainly come in handy.
Their professional assistance can be helpful to any type of landlord, no matter if you’ve been managing your property for decades or if you’ve just started.
Do I Want To Maximise My Earnings? Great management can lead to greater earnings. Every business person knows that making a steady income is vital, and a fantastic manager’s help can give your profits a boost. This is because:
- They’ll Set A Good Rent Price. If your rent is too low, you’ll lose money. If your rent is too high, you’ll have a harder time finding tenants. But, if your rent is reasonably priced, you’ll make money and your tenants will appreciate the acceptable price.
- They’ll Reduce Property Vacancies. Your properties make no money when they’re empty. Property managers know how to market empty properties to get new tenants in them as soon as possible.
- They’ll Find Reliable Tenants Who Pay On Time. Along with finding new tenants quickly, they’ll also find trustworthy renters who pay their rent on time. So you won’t be stressing over late payments.
Do I Want To Keep A Close Eye On Local New Zealand Laws Regarding My Properties? There are a few laws in New Zealand that affect your job as a property owner – and you can get into some tough situations if you violate them, even if it was an accident. Smart property management companies always pay attention to the local laws to know when they change and what affects you.
Could I Use Some Help Managing My Property? This is an extremely important question to ask – could you use some help? Is your work overwhelming? Are you finding yourself constantly fatigued? Even if you’re getting your job done, if it’s stressing you out or damaging your mental health, you should consider hiring a property manager to lessen your workload and improve your life.
Do I Want More Free Time For Other Obligations? A property manager can take care of some of the tasks for you, thus giving you far more time for yourself. You can use this time for other obligations or personal interests.
This is a great thing to think about if you often find yourself wishing for more time to do other things. With a property manager, you can still ensure your properties are well taken care of, even if you’re not doing all of the work yourself.
Where Can I Find Great Property Managers In Auckland?
Have you thought about all of the above-listed questions? If you’re ready to make a decision, or if you’d like to discuss your opportunities even further, we invite you to speak to us at Reliance Property Management. We help property owners all over Auckland with our excellent services.
Come and have a chat with us at Reliance Property Management to see if hiring a property manager is right for you.