Hi I’m Heather Jopson from Beyond Property Management and I wanted to talk with you briefly today about your property investment journey being a team sport or another way of looking at this is that your property investment is a business, and like any business you, need a good strategic advisory team around you to make sure your investment is performing the best that it can be.
So, let’s have a look at who those players in your team are. You’ve got your accountant, your solicitor, your mortgage broker, your financial planner, and your wealth coach are going to play a really important role in your strategic advisory team sport of property investment.
And, let’s have a look at the role that your property manager plays in this team as well, because after all you have spent hundreds of thousands of dollars on a property. So, it’s important to make sure that your property manager understands their role on your team, and what their role is to maximize the return that you’re getting, so let’s have a look at what your property manager does.
Your property manager really is your business manager, they are there to manage your business, your property on your behalf, they are going to look after you – the client, but they are also going to provide customer service on your behalf to your businesses customer, which is your tenant, so let’s have a little bit more of a look at what’s involved in this overarching role that your property manager is going to play for you.
They’re going to advertise the property, they’re going to take people through, they’re going to process applications, they’re going to manage your rent arrears, they’re going to disperse your money, they know all about the legislative framework that your business operates within. They’re going to review your rent and make sure that you’re maximizing your return, they’re going to manage maintenance on the property, and that might be urgency maintenance and emergency maintenance or routine maintenance, but they’re going to look after all these things for you.
What if the tenant wants to break lease? What if you want to break lease? What’s the legislative framework around that?
Your property manager is also looking at water invoicing, bill payments, these are all the things that your property manager is doing on a day to day basis as your business manager. And the most important thing that they’re doing is the communication of these matters between all of the parties that get involved in all of these aspects for you.
So, I hope that goes to show just how much is involved in running your business for you and why it’s, therefore, really important that you choose a property manager that is going to be more than just an administrator for you.
Property management is actually a really big job with a lot of elements so don’t hire somebody that doesn’t know the rules of the game, don’t minimize the importance that this property manager is going to play in your journey and on your team of property investment.