A landlord has
revealed to some key things property managers do wrong
When this landlord started
receiving bills for unauthorised repairs, they realised something wasn’t right
with their property management company.
"When I got a massive bill for an
unauthorised repair in my inbox, I knew that it was time to ditch my property
manager. The constant turnover in their staff and the lack of attention to
detail had already got me thinking of alternatives.”
It turned out that the tenant in
my property had been calling the property manager for weeks and weeks, with no
reply. Growing frustrated at the lack of response, and with the property in
urgent need of repair, they decided to go ahead and instigate the work
themselves. They didn’t go through the quote process, and as a result the work
was performed at far greater expense than it would have been if the property
manager was doing their job properly.
I understood the tenant’s
frustration completely, as the property manager hadn’t been returning my calls
I knew that I wanted to grow my
portfolio further and I didn’t want to risk losing any more of my rental income
on other people’s stupid mistakes. So I decided to take over the management of
my two properties and self-manage them.
Almost 12 years later, and with six
properties to my name, I haven’t looked back. That’s not to say that
self-management is a breeze by any stretch of the imagination.
But for me, the benefits far
outweigh the negatives. In a tight yield market, saving on management fees can
be the difference between a positive and negative return. Sourcing tenants has
become so much easier in the digital age. I use online property management
software like RealRenta.
I can list on multiple websites
to list my properties when they become vacant. Meeting tenants from the very
first time they step foot in the house also affords you a sense of control over
your assets that you would never experience through a property manager.”
Using an on line property manager
like RealRenta just does all the
hard work for you, from tracking the rent, doing the invoices and receipts and
even sending out reminders and arrears emails/text messages It even sends out
breach notices when rent is not paid and all automatically without you having
to do anything.
Why not see what RealRenta.com.au can do for you and all
the other benefits they have to offer.
Friday, 9 September 2016