One of the main advantages of using a professional to manage your investment property is peace of mind. Qualified Property Managers know the market place, ensuring you receive maximum returns on your investment. They also have an understanding of the relevant legislation and paperwork that is required under the Act.
The world of property management can be quite complex with many legislations affecting the everyday workings of a tenancy and landlord relationship, e.g. The Privacy Act, Anti-discrimination Act, Trade Practices Act, Residential Tenancies Act.
Using an experienced and specialised Property Management Agency to manage your property alleviates you from the pressure of having to deal with tenancy issues. Property Agents screen prospective tenants, negotiate rents and leases on your behalf, sign and complete all documentations required by legislation, attend to maintenance issues, organise quotes, complete routine inspections, attend to the payment of maintenance invoices, disburse funds to you whenever required, provide you with the written financial statement of your rental funds, complete final exit inspections when your tenant vacates, process bond claims and attend VCAT tribunal hearings if required.
There are many functions of property management that are required to be completed that a private landlord may not be aware of. The skill and expertise of a specialised Property Management Agent will reduce the risk of non-compliance with the Act and save you as the investor from facing the possibility of financial penalties through non-compliance.
Investing in professional services will be your best investment move!