‘10 Costly Property Management Mistakes’

by Administrator 25. March 2013 15:51

We at M Residential have put our heads together and come up with some of the more common mistakes that landlords make by not hiring a qualified property manager.

1. Underestimating the time investment required to manage your investment property
2. Not being fussy enough with tenant selection
3. Forming a direct relationship with tenants
4. Lazy rent rises
5. A relaxed approach to late payment
6. A property manager who can’t provide you with the tools to have your finger on the pulse of your property portfolio
7. Thinking infrequent communication from your property manager is normal
8. Not using property management specialists
9. Hiring an inexperienced Property Manager
10. Choosing a Property Manager who doesn’t respect you or your tenant

At M Residential, we’ve been developing systems, processes, practices, policies and infrastructure to give property investors the highest return on their investment and the most mistake-free, service-rich property management service imaginable. The outcome is a fully systemized, stress-free, efficient property management service. A property management service that protects your investment, gives you security and allows you to enjoy your life without a hovering cloud of concern!

To receive a complimentary e-book on the 10 Costly Property Management Mistakes, visit our website – www.mresidential.com.au

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PROPERTY MANAGER vs DIY LANDLORD

by Administrator 13. March 2013 15:00

Self-managing your investment property can help you save a pretty penny in management fees – but dealing with tenants, coordinating repairs, conducting property inspections and chasing up rent can cause a few headaches.

And not to mention the legal minefield of the Residential Tenancies Act, ensuring correct notices are provided and that the management does not contradict the RTA in any way.

There is also the fact that although you may feel you are saving money on the management fees, you could in fact be losing more money if you are not kept up to date with the market and the market values on your investment property and ensuring the rent is reviewed and adjusted regularly.

Many investors instinctively know that engaging a qualified property manager to look after their rental property is worth the cost. But many landlords try and claw back expenses wherever they can, including by self-managing their property as a DIY landlord.

Property owners who are undecided as to whether they should DIY or employ a professional don’t realise the market is ripe for them to negotiate a good deal. Vacancy rates through South Perth, Como and surrounding areas are at low levels. At the same time, demand for quality rental properties is high despite the deteriorating housing affordability.

If you are considering managing your investment property or already do, maybe you should consider contacting M Residential who specialise in the management and leasing of property in your area.

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