What Exactly Does a Property Manager Do?
Getting your rental property listed on a site like realestate.com.au or Domain is just the first step – managing the day-to-day operations is where the real work begins. That’s where we come in, as your property manager. However, many landlords are often unclear about what’s involved in the ongoing management and upkeep of a rental property.
What Do Property Managers Really Do?
As your property manager we take care of the majority of the day-to-day operations of your rental property on your behalf. We act as your representative, handling all the duties a landlord typically would. So, what exactly do they manage? Ideally, we are skilled property managers and we cover all of the following tasks:
Securing New Tenants When the Property is Vacant or tenanted
Collecting This includes conducting inspections for prospective tenants, arranging professional photos and advertising, reviewing applications with reference check, and presenting the most suitable candidates to the landlord for approval. The goal is to minimise downtime between tenants to ensure maximum return on your investment.
Collect bond payments
Collecting and submitting the bond to the relevant authority can be complex. Property managers ensure that this process is carried out correctly and in compliance with the law, handling all the details with professionalism.
Collect rent and disbursing to the landlords, trades and suppliers
Collecting rent involves more than just managing trust accounts and distributing funds. Property managers also handle late rent payments by investigating the situation with the tenant and working to ensure a smooth process for catching up on overdue rent. Additionally, they manage any necessary follow-up actions, including pursuing legal remedies if needed.
Manage routine inspections
Property managers handle routine inspections to ensure that everything is in order. We always take detailed photos and provide comprehensive reports to our landlords, confirming that the property is well-maintained and in good condition.
Receive and deal with maintenance requests
Maintenance is a critical issue, and landlords can be held liable if certain conditions are not met. We handle this by serving as the primary point of contact for tenants when issues arise. We organise repair requests and coordinate with tradespeople to ensure that necessary repairs are carried out efficiently.
Manage and prepare all paperwork
Many property managers have the authority to act on behalf of the landlord and can sign various documents. This often includes the tenancy agreement and any other relevant bills or charges.
Ensure all processes follow the relevant legal authority
Having legal expertise on your side is invaluable, particularly since real estate laws can vary by state and some issue. Many property managers provide valuable assistance in navigating these complexities.
Serve as the Primary Point of Contact for Tenants
If tenants have questions or any inquiries, we are the first point of contact to address them. As you can see, we handle much of the day-to-day work involved in managing a property..
How Does a Real Estate Agent Differ from a Property Manager?
There isn’t much of a difference in essence. A person who sells or manages property on behalf of someone else is considered a real estate agent. However, a person who specifically manages rental properties is usually referred to as a ‘property manager.’ Despite this distinction in titles, both roles essentially involve handling property transactions or management tasks on behalf of others.
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Real Estate Agent: Primarily focuses on buying, selling, and renting properties. They assist clients in finding or selling homes, negotiating deals, and guiding clients through the buying or selling process. Their expertise lies in market trends, property valuations, and facilitating transactions.
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Property Manager: Specialises in the ongoing management of rental properties. Their responsibilities include handling tenant relations, managing maintenance requests, collecting rent, and ensuring the property remains in good condition. They oversee the day-to-day operations of rental properties to ensure everything runs smoothly and in compliance with relevant regulations.
Why Choose Us Over DIY Landlording or Traditional Property Management?
While DIY landlording might seem like a viable option, it comes with significant challenges. Mastering your state's real estate laws can be daunting, and even a minor oversight—like failing to maintain smoke alarms—could lead to legal issues. Plus, managing a property yourself can consume a considerable amount of your time.
On the other hand, hiring a property manager might seem like a straightforward solution, but it's important to choose wisely.
Here’s where we stand out: Unlike agencies that prioritise sales, our focus is solely on property management. We’re dedicated to providing exceptional service and ensuring your investment is handled with the utmost care. We understand that retaining good tenants is crucial and that your property is one of your most significant investments, second only to your family home.
Don’t risk your investment with just anyone—choose a property management team that’s committed to your success and offers personalised, dedicated service.