How do I manage my investment property?

Once you have bought your investment property, you will want to manage it to maximize your return and protect the value of your asset for the future. Looking after a property takes time and expertise if it is to be done properly. A good property manager is essential to manage your investment property.

Your property manager will manage the property on your behalf including finding the right tenant and checking their references, organising the bond, collecting rent, conducting regular property inspections and organising any maintenance on the property. Employing a property manager has many advantages apart from the time saving and convenience factors they offer. As they manage so many properties they will also have access to a large number of reputable trade people with whom they may have negotiated cheaper service fees.

They can also deal with the time consuming tasks of vetting potential tenants and checking their credit worthiness. As they deal with tenants and rentals every day, property managers have up-to-date information on what the market is like and what tenants are prepared to pay. They may also have access to tenants who they can recommend for your property. And don't forget their fees are tax deductible.

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