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Blog – Property Management

Why do you need to hire a property management specialist when it comes to renting out your property?

What is the Function of a Property Management Company?

Property management companies deal directly with tenants and prospects, saving you time and stress from the headaches of renting out your property, collecting rent, managing maintenance and repair issues, reacting to tenant complaints, and even evictions. A reputable management business also handles your property, giving you the peace of mind that comes with knowing your investment is in good hands, thanks to its know-how and experience.

Pros of Property Management Companies

Experience in the Industry

Ray White Te Atatu is a property management company with decades of experience managing rental properties in the Te Atatu Peninsula and the wider west Auckland area. Property consultancy, property management, prestige sales, property development management, appraisals, and property rental are among the services they provide. The Ray White team conducts a rigorous tenant vetting and selection process, performs routine inspections, and determines the appropriate rent using current market data. Whether you own an apartment complex or plan to rent your property, they will also handle all the heavy work for you. They should have a set method for managing the property, depending on how long they’ve been in the industry.

For everything we do at Ray White Te Atatu, we have a defined process and checklist.

Property management businesses, such as Ray White Te Atatu,  have extensive experience, are well-versed in the market’s ins and outs, and anew to price property (renting or selling).

Tenant Sourcing and Screening

One of the time-consuming responsibilities as tenant screening. When selecting a tenant for your rental property, you must interview several candidates. It allocates time to find and screen potential tenants and handle property advertisements, answer tenants’ calls, and wait for potential tenants to call and visit the rental unit. Tenant screening, on the other hand, can be a time-consuming process. Untrained landlords may ask improper, unlawful, or discriminatory inquiries. A property manager can save the property owner time, decrease his/her obligations, and screen out unwanted renters because they are experienced in doing the right checks and dealing with all tenant-related concerns.

Therefore Ray White Te Atatu, owned by Diane Stevenson, is the answer. Diane’s teams ability to negotiate and their high level of communication, passion, enthusiasm, organizational skills, and focus have all contributed to their sustained success. Her sales team is a wonderful blend of youthful vigour, experience, and wisdom. Her highly skilled Property Management staff interacts with the sales team to cover all of your residential options (3 with Property degrees).

Frees up Your Time

Managing a rental property is also time-consuming. You should be available to take calls 24 hours a day, seven days a week, and be prepared to handle rental unit repairs. Not only will you be accountable for maintenance, but you will also be in charge of collecting all rents, dealing with lease difficulties, inspecting the property, and so on. It’s effectively a part-time job.

Hiring a property manager frees up a lot of your time. You won’t have to deal with shattered windows or leaking pipes anymore. Your property management firm will handle those items.

Your stress levels should decrease if you hire a property manager as well. Your property management firm will handle paperwork and tenant conflicts. You may rest easy knowing that your property manager will take everything for you. They will alert you in the event of an emergency or a request to invest in maintenance requirements or enhancements.

When you hire property management, you should expect that all details will be taken care of.

Professional Advice

One of the perks of employing a property management company often ignored is the opportunity to seek advice on your investment selections. If you have no experience buying or managing properties, they can assist you in evaluating the neighbourhoods in the region and possibly assist you in locating suitable homes to purchase. Once you have them, the Ray White team can provide you with professional assistance to help you get the most out of your investment (ROI). She believes that continued education for herself, her sales team, and her property management team is essential in the changing face of the real estate market.

Diane has a deep understanding of marketing ideas and processes, which has proven invaluable in assisting her team and clients in achieving outstanding sales outcomes.

Allow Ray White Te Atatu’s skilled sales and property management teams to help you with your next real estate transaction.

Professional Maintenance

Many new landlords and property owners opt to handle their property maintenance and repairs. However, this could be a colossal error. By working with a property management business, you’ll gain access to skilled maintenance and repair specialists in a timely manner which could save you money in the long run. 

Setting the Right Rental Rates

A professional property management company will undertake thorough market research to determine the appropriate rental prices for your home, ensuring that you achieve the ideal balance of low vacancy rates and good monthly income. This is something Ray White Te Atatu regularly conducts as part of our rental listing procedure.

Cons of Property Management Company

Cost

The most significant disadvantage of employing a property management firm is the cost of property management business charges. Unsurprisingly, this service is not free.

The cost of a property manager will eat into your profit margins.

A property management company would typically charge the landlord the first week’s rent and reduce the rental income by 8 to 10% per month. And these are just the fundamental fees; each property management business charges differently, and there may be other hidden expenses along the way.

Oversight

The property management business may not be as dedicated to maintaining the property as you are.

Less Direct Control

Day-to-day decisions will be less under your direct control. This could be advantageous.

Conclusion

Whether or not employing a property management business aligns with your long-term and short-term goals is ultimately up to you. Consider hiring a rental property management company if you don’t have any experience or knowledge in the field. Suppose you cannot devote sufficient time to rental property management. In that case, it is preferable to employ a property management business such as Ray White Te Atatu and delegate responsibility to them.