When it comes to managing an investment property, owners often wonder if they should self manage or engage the services of a professional property manager.
Often it’s the cost that puts people of along with the kiwi DIY mindset. Yes it’s true, with the help of google and mountains of time reading up on current legislation and rental regulations you could self manage.
However consider this – property management fees should be seen as an investment and not a necessary evil.
Let’s explore why:
1. Your time, your goldmine
Let’s face it – time is your most precious asset. Juggling property management tasks can be a real drain on your schedule and stress levels.
Imagine having the freedom to focus on your business, your profession, your family, your hobbies or simply kicking back and getting some ‘you’ time. When you invest in property management, you’re investing in what truly matters – your success and happiness.
2. Experience counts
Property managers have a treasure trove of experience and know-how. They understand the local markets, know the sweet spot for pricing your rental property and by tapping into their expertise you will have tenants in your property who not only pay rent on time but treat your property like it should be treated.
3. Tenant love = wealth overflow
What’s the key to long term prosperity? That’s an easy one: happy tenants.
Property Managers excel at keeping tenants happy by nipping problems in the bud, getting maintenance sorted quickly and providing the tenants with a happy experience while living in the property. And what’s the result? Fewer vacancies and stable cashflow.
4. Collect rent, not stress
Property managers have systems in place that master the art of rent collection, with zero tolerance for late payers. This gives you peace of mind when managing your expenses and ensures your cash flow isn’t impacted.
5. Keep your property value at the top end
Making sure that maintenance is kept on top of is key to your property holding it’s value and keeping a smile on your tenants faces. Property Managers have a network of contractors to call on that they can rely on and trust.
6. Legal bliss not legal stress
Navigating your way round the Residential Tenancies Act makes good night time reading if you have insomnia. However there’s a lot to know and understand. Property managers know what they need to do to ensure your property is compliant and safeguarded against the various pitfalls that you can be exposed to.
7. Set your sights on success
As your property empire starts to grow so to does the administrative tasks. With the support of a property management team partnering with you, you can grow your portfolio and seize growth opportunities without having to worry about the increased administrative burden.
By looking at property management fees as an investment rather than a cost you will be taking charge of your future by releasing time, leveraging expertise, boosting tenant happiness and safeguarding your property’s value.
So when you’re thinking about whether to self-manage or bring in a property manager, just pause for a moment and consider if you have the right skills and know-how for DIY management. Hiring a property manager isn’t just about spending money – it’s actually a smart move for your future!
Need help with your rental property?
Renthub offers flexible options for self-managing owners and a full-service flat fee option for owners that want to be totally hands off.
Call us on 09 6302655, email us on office@renthub.nz, or find out more here: Auckland Property Management Services
