Managing your rental properties can be highly lucrative but may present some challenges if you’re trying to manage several properties. We often hear from clients who juggle multiple properties about the challenges they face when managing their rentals. However, with the proper guidance, you can protect your investment, increase its value and enjoy more time to focus on other aspects of your life.
Hire a professional
If you manage multiple rental properties yourself, you’ll understand that effectively managing your rentals is key to maintaining and increasing your wealth. But with so many day-to-day details to keep track of, it’s easy to let important tasks fall through the cracks.
Many investors choose to hire a property manager or a professional property management consultant to take away the stress of self-management. These experts have the experience and expertise necessary to help you protect your investment and maximise your rental income.
Benefits of using a property manager/consultant
Whether you are currently managing your own rentals or looking for ways to make the process more efficient, there are several key benefits of working with a property manager or consultant.
- Expert guidance and advice on managing a rental property effectively and efficiently. A professional will act as a third party to help you stay on top of maintenance issues, handle tenant inquiries, and identify areas for improvement to maximise your rental income.
- Access to the latest industry tools and resources. From marketing your rentals to collecting rent, a property manager or consultant has access to the latest resources that you may not otherwise be able to utilise. These tools are specifically created for property managers to help make these tasks easier.
- Lower costs. While there is a cost involved with hiring a property manager, this can be outweighed by the expert knowledge they bring. A property manager can help you identify areas where you may be overspending and suggest ways to reduce your expenses, or a consultant to handle your day-to-day management responsibilities. They can also help to negotiate rental rates that align with market fluctuations to ensure you’re getting the optimum value out of your rentals.
Working with a professional property manager or management consultant can take the stress out of self-management and allow you more time and peace of mind while protecting and growing your investment.
Finding the right property manager to help manage your rentals
When looking for a property manager to help you manage your rentals, there are several factors that you should consider. These include experience, industry knowledge and expertise, communication skills, and customer service focus. It’s important to look for a property manager with proven results in managing similar properties and portfolios, so you can ensure you’re both aligned on how you want your investment managed.
To get started, do your research and talk to friends, family, or other investors who have previously worked with property managers. This will help you identify companies or individuals who appreciate their relationship with their manager, and who have a strong track record of delivering results, attentive customer service, and commitment to client satisfaction.
Finding the right property manager is so important for managing your rentals. With their help, you can enjoy peace of mind knowing that your rentals are in good hands.
Get protected with ALC Shield
If you’re looking for your next investment, ALC has you covered with ALC Shield. ALC Shield is a post-settlement package that provides protection for your investment across 6 key areas.
As a property investor, landlord insurance is a must-have. Whether it be tenant neglect, weather events, accidents, or pet damage, an investment property will likely be impacted at some point in time, but that doesn’t mean it has to hurt you. ALC shield includes a year of landlord insurance coverage.
First Tenant Guarantee
Our first tenant guarantee means your investment will be leased sooner. Working with property managers, we get your property tenanted sooner. If the property is not tenanted within 14 days from handover, investors will receive a predetermined figure per week pro-rata until the property is filled.
Lawn & garden care
Enjoy regular maintenance of your investment property’s front yard for the first year. Not only do you not have to worry about it, but you can also guarantee upkeep, increasing prospects for capital appreciation.
Independent building inspection & quality control
All ALC investment homes are quality controlled with internal and external audits to ensure that everything works as planned. We also provide a free independent building inspection from a third-party inspection group to ensure every home meets building code requirements before handover.
Tax depreciation schedule
We’re committed to removing the complexity of investment home delivery, which is why we include a 40-year tax depreciation schedule, specific to the investment property.
Our ALC Shield offering is designed to make investment property management stress-free. Gardens looked after, guaranteed tenants & proven quality will reduce costs, create higher rent and reduce vacancy time, and better capital growth.
For our latest investment opportunities or more information about ALC Shield, contact our team.