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Managing your investment property: more complicated than it first seems!
It’s tempting to believe you can manage your own investment property to save a few dollars. But unless you really know what you’re doing, property management can be tricky...and costly! Rent in arrears and vacant property are the two big problems that plague DIY property managers.
 Why professional property managers can choose better tenants
Professional property managers like MetroCity have access to a vast pool of renters, and stringent applicant screening processes.
For a start, a professional property manager can maximise enquiries in many ways: from newspaper and internet advertising, to highly visible signage on the property itself.
A professional can also save you the headaches associated with the time-consuming paperwork and follow up involved in property management. First, there’s the detailed application form, where potential renters establish their bona fides with information about current and past employment and addresses, income level, and referees and contact details.
Contacting referees is time-consuming, but is the key to avoiding problem tenants. A tenant’s rental history will quickly reveal their character. But there is a fine line to tread: as a private person you may breach legislation without realising it, and leave yourself open to legal action.
A professional manager also has access to a national tenancy database that cannot be accessed by self-managing landlords. This valuable data gives significant details about a potential tenant’s rental history such as broken leases, property damage, legal history and so on.
At MetroCity, we go above and beyond to ensure that we manage your property – and your tenants – in a way that minimises disputes and maintains a good relationship between both parties. And you can rest assured your rental income won’t be in arrears, as we have a dedicated property management researcher who personally contacts any tenant the moment they miss a payment.
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