The temptation may exist to manage your own properties but, when you consider the traps, you will usually find it easier and possibly, less expensive, to use the services of an experienced property management company. When compared to the overall picture, the outlay is small, especially since it is a tax claim, but a qualified and experienced Property manager can save you thousands by avoiding the pitfalls that often trip up, do-it-yourselves.
Complying with the Tenancy Act and the statutory requirements in your State or Territory.
Gaining access for inspections
Ensuring that the rent is paid on time – every time – and knowing what remedial actions are open to you as the owner.
Evicting tenants if it ever becomes necessary. Keeping in mind that good property mangers know how to avoid this by selecting the right tenants
Having access to the REIWA and other defaulting tenant data base check lists.
Asking for and achieving reasonable rent increases. The records show that self managed properties invariably return a lower rent than those that are professionally managed.
A professional Property Manager will provide a necessary buffer between you and your tenant. They will be fair to the tenant but firm in applying the rules and regulations that have been designed to protect all parties.