A good property manager is like gold

The Real Estate Institute of Australia president Malcolm Gunning says a property manager should help take the emotion out of your investment.

It's more than just finding the right tenant and looking after your investment property: A good property manager should advise on rentals and maybe renovations to help the investor to create wealth.

It's more than just finding the right tenant and looking after your investment property: A good property manager should advise on rentals and maybe renovations to help the investor to create wealth.

A major part of the job is not just collecting the rent, but also acting as a mediator, he says.

Aside from all this, an excellent property manager will regularly give you an idea of what your property’s worth (both in terms of rental income and if you decide to sell), and will know how satisfied your tenant is.

The best property managers will also help their clients create wealth through expert advice.

This could be done by talking to a landlord about their five or 10-year property plan, by recommending tax depreciation schedules and much more.

Property managers should also be monitoring the market and suggesting rental increases as often as the market permits.

They might also advise on renovations that could help an owner achieve higher rents.

If you find a great property manager, hang on to them tightly.

SHARE