Property managers make a landlord’s life easy

lthough it would appear that landlords have the pick of the bunch when there’s an overabundance of tenants to choose from, it still makes sense to keep the process as hassle-free as possible.

Appointing a property manager is the easiest and safest way of not only saving time on searching for the right tenant but also in building up that professional relationship needed for this type of transaction.

Terri Scheer Insurance Manager, Ms Carolyn Majda agrees and also believes: “[Property managers] will help to find tenants, ensure the correct paperwork is in place, collect the rent,
conduct property inspections and liaise with the tenant on behalf of the landlord”.

Costs in appointing property managers vary and landlords are generally required to pay an upfront letting fee and an ongoing weekly fee.

Ms Majda adds that landlords should consider the cost of their time as well as the value of a property manager. “Do-it-yourself property management involves a significant time commitment,” Ms Majda says.

A property manager will save time on:
    
– attending to maintenance issues promptly;
– regular inspections;
– identifying any damage; and
– liaising with tradespeople.

Ms Majda states that property managers also play an important role in risk management. “Property managers have experience in screening prospective tenants and have access to databases that list tenants with a history of defaulting on rental payments, damaging property and eviction”, she says.

“If a dispute arises with the tenant, they should be familiar with the relevant legislation and be able to follow the correct procedures to help resolve the problem as quickly as possible”.