What are the benefits of hiring a REIWA property manager?

The vast majority of investors use a property manager to look after their property. For those that don't or are unsure, here are some of the benefits of using a REIWA property manager.

REIWA President Damian Collins

Most investors in Western Australia use a property manager to look after their property, however there are some who choose to self-manage.

While you may not have thought about using a property manager in the past, now might be a good time to consider professional property management.

They are a valuable tool in times of uncertainty

Since the onset of the COVID-19 pandemic, the role of a property manager has become more important than ever. From the rental moratorium to the rental shortage, the WA rental market has experienced its share of challenges over the last couple of years, which has highlighted the importance of having a qualified professional to help with your rental.

They will save you money in the long run

While it may be tempting to go it alone – premised upon the notion of saving on management fees – deciding not to use the services of a licenced real estate agent is risky and will often cost you in the long run.

The amount of work involved in managing a property and how complex it can be is often underestimated. Management fees are not excessive and are normally tax deductible. Plus, it is a small price to pay for the peace of mind that comes with having a professional handle the tenancy.

They handle the day-to-day tasks

A property manager will take care of the day-to-day tasks and responsibilities of managing a property, and they are well-versed on the Residential Tenancies Act. This is particularly useful if the property is damaged, maintenance is required, or the tenant is unable to meet their rental obligations.

As the owner of the rental, your emotional attachment to the property can be a detriment. A property manager acts as a link between the owner and the tenant to help ensure a smooth tenancy.

They have access to industry information

A property manager also has access to the National Tenancy Database so they can identify any applicants who have a poor rental history when it comes to paying rent and maintaining a property. This is priceless information and can help you select the most appropriate tenant from the start.

A property manager will assist you with a marketing campaign to give you a competitive edge. Plus, they have access to rental listing websites like reiwa.com, which is not available to private owners, so you can ensure your property is seen by as many people as possible.

Finally, make sure the property manager you choose is a REIWA member, so you can be confident you are receiving the best information and that your interests are protected.