So you’ve decided investing in real estate is the way to go and you are on the lookout for your first property in Macarthur . You’ve done all your homework, calculated deposit monies, stamp duty, insurance, and rates and have a fair idea of your budget and how much you can afford to devote to this venture.
There may be just one more thing you need to tick off on your list and that is who is going to look after the rental management of the property. There are few property owners in Macarthur who manage their own properties and do it well. Experience says that this type of landlord usually owns many properties and is in a position to be able to devote the time necessary to make the management of them worthwhile.
Questions should you be Asking Yourself
• How do I find and vet a prospective tenant?
• Do I have time to spend doing this and then contend with such things as
collecting the rent, receiving maintenance requests and then arranging the
maintenance?
• Do I have the time to conduct regular inspections?
• How will the rent be collected?
• Do I have a good tolerance level to deal with complaints or with tenants who may
be demanding?
• How do I evict a tenant if this becomes necessary?
This is only a small sample of what will need to be addressed when managing a rental property in Macarthur. In most cases it is far easier to let a professional who is qualified in this field to deal with these issues as they are skilled in quickly locating and screening prospective tenants thus keeping a low vacancy rate.
These skills also lead to the best possible tenant being found first time every time which means no necessity for eviction. They will also have a network of reliable, responsible repairmen who they can call to ensure appropriate maintenance is sustained at all times, even after hours.
They will also:
• Have experience dealing with demanding tenants and be able to act as a buffer between them and the property owner;
• Conduct regular property inspections to ensure suitable care is being performed by the tenant; and
• Be able to set up a regular rental collection.
How does it get Any Easier?
As you can see, an experienced property manager can take a lot of pressure off a property owner. It takes a unique person to be able to command this type of role so it is important you employ the right person.
