The Role Of A Real Estate Agent

For some Landlords having a Property Manager manage their investment property goes without question. For others, they would prefer to manage the property themselves. However, there are many benefits to having an Agent which could result in a more successful property investment journey. 

Some of the key benefits to engaging an Agent are;

Advertising

A listing with professional advertising and photography by a reputable agency will help secure a quality tenant faster. Agents have access to online advertising property portals which allows for greater exposure for the property.

Tenant Selection

Selecting a good tenant is crucial to a smooth tenancy. Property Managers have access to databases for reference checking, networks with other Property Managers which can result in an honest tenancy reference, and experience in spotting a dodgy applicant.

Market Knowledge

Day to day interaction and immersion in the local area helps develop an in-depth understanding of the market. This knowledge is valuable in formulating decisions for the tenancy. 

Legislation

The Residential Tenancies Agreement and Tenancies Act are extensive legislation which require a thorough understanding. Without this knowledge and understanding mistakes could result in costly issues. 

Condition Reports

Condition reports are an important document required in the tenancy. From ingoing condition reports noting the condition of the property at the start of the tenancy, regular routine reports throughout the tenancy, to final condition reports at the conclusion of the tenancy — an Agent knows all the little details that need to be documented and the photos required to show the condition of the property. 

Tribunal Representation

In the rare event there is an issue in the tenancy that requires attendance at a tribunal hearing, having a Property Manager who understands the tribunal process and has experience representing tenancy matters is an asset to ensure as favourable outcome as possible.

Engaging a Property Manager to manage your investment property does involve some costs, however the benefits are well worth the expense to ensure a positive property investment endeavour — if you have any questions please contact us to discuss how we can help you with your property.