Myth busters – The truth about Property Management
Have a property to rent or managing your own property and thinking of hiring a property manager, what you think about Property Management may not always be so. Let’s face it, your best outcome relies on a no-nonsense approach and deciphering fact from fiction can be tricky.
We’ve put together a list of the 5 most common myths circulating in the property management world to help guide you.
Myth#1
I’ll lose control over my property
As the owner you’ll always be in control and no major decisions will be made on your behalf without your knowledge. If you’re not being kept up to date about your property it might be time to consider switching agents.
Myth#2
It’s too expensive to hire a property manager
The cost to manage your property effectively is a very small percentage when taking into account all the work that goes into it. Trying to save money here in the first instance may be what costs you
more money down the track if a mistake is made. Keeping your property in a well maintained condition can also help minimise costs. And it’s always good to remember property management fees and costs are all tax-deductible.
Myth#3
I won’t be able to do my own repairs or use my own tradesmen
Whilst agents have their own preferred tradespeople and contractors available, there is no obligation to you to engage their services. If you have your own or would prefer to do the work yourself you just need to let your property manager know and specify this in your property management agreement.
Myth#4
I can find better tenants
Whilst it is possible to luck out and find fabulous tenants, in reality it’s not always the case. Having realistic criteria and a solid selection process from the get go means you won’t have to rely on luck and using a property manager is a worthwhile resource.
Myth#5
You’ll get better results and better tenants using a local agent within the area
Definitely not. As agents we have full access to the latest in property information and suburb profiles across your state. Expand your search, do not just settle for what’s nearby, take advantage and
choose the agent you want.
