Wondering whether a property management company is right for you? Well, they can help guide you with where to purchase, marketing know-how, tenant recruitment, tenant management, and arranging maintenance.
If you’re on the fence on whether a property management company can benefit you, consider the extent of what they offer and how their services may impact your life.
1) Guidance On Where To Purchase
If you’re buying an investment property in Malaysia or Australia, working with a property management company before you make a decision can be a smart move – especially if you’re purchasing while abroad.
They can provide valuable insight about which neighbourhoods to target - those that are in demand currently, as well as those that are projected to be in demand for tenants.
2) Marketing Know-how
You'll need to find a tenant as quickly as possible, no matter what the reason may be that you want to rent out your place.
But the list of things that you'd have to do before your rental property is ready can be never-ending:
Cleaning, repairing and decorating your place
Taking attractive photos of your home
Writing compelling ads
Researching which rental listing websites are most popular for your desired type of tenant
3) Tenant recruitment
Every landlord hopes their tenant is responsible, respectful and reliable, but it can be hard to know if that’s the case from just an online conversation or even an initial meeting.
The right property management company can assist you with the credit checks, employment history and their background.
This will help ensure that your tenants are a good fit, depending on your preferences or requirements.
4) Tenant Management
During your tenant’s lease, it’s likely that they’ll have questions, concerns or issues to address during their tenancy.
If you’d prefer they not reach out to you directly – especially for matters that would be hard for you to troubleshoot if you don’t live near to the property – your property manager can act as the tenant’s point of contact.
Additionally, if it turns out that the tenant is not as wonderful as you initially believed them to be, your property manager can:
Alert both them and you to complaints from neighbors.
Delinquent rent payments, code violations.
Property damage that they have not communicated or remedied.
5) Arranging Maintenance
Regular maintenance on a property is of utmost importance!
Not only does regular maintenance keep your property in good shape, it helps to keep costs down in the long run. After all, there are costs attached to being a landlord.
This is especially true if you don’t live in the same area as your property or if you’re unfamiliar with the market.
In the event of needing to contract repair workers or other contractors, your property manager should already have trusted partnerships in place.
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