Before I became a Property Manager I was guilty of managing my own properties
I see now I had a problem and I really was just hurting myself and others around me. I used an application form I had fashioned up in word, I printed off a lease I had googled I think it was American, I ran a rudimentary spreadsheet for the rental income. I conducted routine inspections (me going in and walking around glancing awkwardly in and out of rooms) I found tenants off gumtree and the residential tenancies act? what was that? I was winging it basically and hoping for the best.
We have 3 investment properties. It’s critical that rent and bills are paid on time and that any risk I am exposed to as a landlord is mitigated as much as possible. Theres a lot of money tied up in our investment properties and when I look at it now I realise how I managed things really was a large gamble.
I became a registered Land Agent last year and started my own company 4rooms Property PTY LTD an Adelaide Property management company with one focus only
WE DO PROPERTY MANAGEMENT DIFFERENTLY – WE GIVE LOW FIXED PRICES AND AN AWESOME CUSTOMER EXPERIENCE FOR ALL INVOLVED
I spent time last year studying to become a Property Manager, Topics included marketing property for lease, identifying the legal and ethical requirements of property management, leasing property and then monitoring and managing that lease. I was surprised to find that the residential tenancies act (just one piece of Legislation that needs to be followed and adhered to when managing property) is 95 pages long!
As I progressed through this study there were a lot of situations I could relate to with my own properties where I realised as a landlord I really wasn’t compliant or even aware of issues that could put me at risk financially for example ensuring compliance around smoke alarms, pool fences, blind cords and many other health and safety issues. As a landlord if you are not up to speed with everything you are potentially exposing yourself to a very expensive lawsuit.
For a small price you really can have peace of mind by hiring a good Property Manager who will ensure you are protected as best as possible as well as doing all the legwork of doing inspections, signing the lease, checking tenants, collecting rent and preparing financial statements. At 4rooms “We do Property Management differently” we charge a fixed price of just $79 per month for full management that’s just $948 including GST for the year, and a fixed letting fee of $399 a fraction of what many of our competitors charge and its tax-deductible!
We check tenants thoroughly, we compare ability to pay rent, look at rental history and check all our tenants on the national database. We use approved and compliant lease documents provide regular inspections and we care about not only the Landlord and their property but also their tenant, a great happy tenant is a long-term tenant and that means stability for our Landlords.
So…. If you have investment property, you could go to the property casino and put it all on red 26 or you could take a red-hot tip from me and… use a Property Manager 🙂
Paul Haigh is a Registered Land Agent RLA 277315 and owner of 4rooms Property an Adelaide Property Management company serving the whole Adelaide region. We do fixed price management at $79 per month.