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Why use a Property Manager?

One of the main advantages of using a professional to manage an investment property is peace of mind. Qualified property managers know the marketplace; ensuring lessors re-ceive maximum returns on their investment. They also have an understanding of relevant legislation and paperwork required under the Residential Tenancies and Rooming Accom-modation Act.

The world of property management can be quite complex, with legislation affecting the eve-ryday workings of a tenant and lessor relationship. For example, the Privacy Act, Anti-discrimination Act, Competition and Consumer Act, and the Residential Tenancies and Rooming Accommodation Act. Using a property manager from a REIWA accredited agency to manage a property alleviates lessors from the pressure of having to deal with tenancy issues.

What can a Property Manager do for you?

Property managers conduct a range of activities, including: Negotiating rents and leases on a lessors behalf Signing and completing all documentation required by legislation Attending to maintenance issues, organising quotes, attending to the payment of main-tenance accounts Completing routine inspections Disbursing funds to the lessor monthly or twice monthly Providing a written financial statement of rental funds Completing final inspections when tenants vacate.

There are many functions of property management required which a private lessor may not be aware of. The skill and expertise of a property manager will reduce the risk of non-compliance with the law and save lessors from facing the possibility of associated financial penalties.

Have you got an Accredited Property Manager?

Always ensure that your property manager is accredited. The Real Estate Institute of Western Australia holds stringent regulations for continuous professional development on accredited members to ensure that you are dealing with the best professionals in the industry.