Managing tenants: A property manager manages all aspects of the tenant-landlord relationship. The property manager will handle both routine and emergency maintenance, take care of routine inspections, and manage any situations where conflict resolution is required.
Managing vendors: Property management companies have relationships with maintenance workers, tradesmen, contractors, suppliers and other vendors that it’s almost impossible for an independent landlord to sustain. Not only will property manager get you the best work for the best price, they’ll oversea any necessary maintenance projects.
Maximising the profitability of your time: By having a property manager to take care of the day-to-day aspects of running your income property, you are free to spend your time identifying further investment opportunities or otherwise furthering your career / business.
Maximising the profitability of your money: Most property managers charge a percentage of your property’s monthly rental rate in exchange for their services. The rate typically runs anywhere from 6-10%, which is generally less than the money you save by hiring a professional / employee to take of your property.
Collecting and depositing monthly rental on time: Chasing for rental is energy consuming, not to mention awkward in most instances. You’ll find this particularly important if you have a number of properties, and collecting payments on time is crucial to maintaining your cash flow.