What are the advantages of using a property management company? This week, Michael Johns looks at what a property management company is, what they do, and how they can benefit many investors and landlords.
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Please see below the full transcript of the video:
Hi, welcome to the latest Ask Johnsy. The latest question is: what are the advantages of having a property management company, or having a property management professional?
Well, we always say, leave the experts to do what they’re good at, and a lot of people try to save in this area by doing it themselves. What they don’t realise is, there’s a lot of time involved in managing a property and a lot of the property management companies, they have a base of people looking for properties in that particular area at any particular time. So, it’s much easier to avoid void periods and getting tenants in can be a lot quicker. In terms of managing the property on an ongoing basis, a property management company can react quickly to any problems and move in and sort them out. They’ll normally have a 24-hour hotline, or they can at least be there the next day and deal with the customer. For the investor, it means that the investor can invest anywhere in the country knowing that a property manager is there and can look after their property. If you were just being restricted to managing the property yourself, you’d obviously have to deal within a radius of your own home so that you can actually manage the property and manage the tenant and be there in case they forget their keys, or a ball valve gets stuck or a lightbulb needs changed or whatever the tenant needs.
Also, the reputation of the agent, you know, the reputation of the agent will give you more tenants. Some tenants like to work with a professional company. With a property management company, it’s generally hands-off for the investor, it’s hands-off and there’s no worries so you can sit back knowing that someone professional is looking after your property.
And that’s it for the advantages of using a property management company. Thank you and I’ll see you next time on Ask Johnsy.
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