If you’re an investor that already has a portfolio of properties or a newbie to the property investment space, you’ll know it’s crucial to have a property manager who understands the ins and outs of Adelaide’s real estate market. Particularly one that’s dedicated to helping you protect and maximise your investment.
Sometimes, though, finding the right property manager who listens and has a clear understanding of what you want to achieve can be challenging. Finding one that adheres to rigorous and constantly reviewed ‘Best Practice’ procedures, cares about their clients, is compassionate, and goes that bit extra to protect a property asset, is a rarity.
However, that rarity exists. Here are a few key reasons why having a hands-on property manager, like the experienced team at McGrath Real Estate, is so important:
- Understanding the importance of communication: Every investor likes to know what’s happening with their investment. Property managers who want their clients to feel reassured will provide regular communication on the status of their property. They will offer insights into what’s happening in the area and if any issues need to be addressed now or in the near future.
- Expertise and knowledge of the local market: A property manager with a deep understanding of the local market can help you make informed decisions about which properties to invest in and how to maximise your returns. They can also provide valuable insights into current trends and forecast future market conditions.
- Strong relationships with tenants and contractors: A good property manager has strong relationships with tenants and contractors, which is essential for maintaining and improving your rental properties. They can quickly resolve any issues that arise and keep your properties running smoothly.
- Network of professionals: Experienced property managers typically have a network of professionals, such as contractors, attorneys, and real estate agents, that they can call upon to help with various aspects of property management. This can save you time and effort in finding and coordinating with these professionals.
- Time and resource management: As an investor, you’re likely to have a full plate of responsibilities. A property manager can take on the day-to-day tasks of managing your properties, freeing up your time to focus on other things. They can also help you save money by finding cost-effective contractors and negotiating favourable terms.
- Increased profitability: A proactive property manager dedicated to growing your investment can help you improve your profitability. They can identify opportunities to raise rents or make improvements that will increase the value of your properties.
- Legal and regulatory compliance: Property management can be complex, with various laws and regulations that must be followed. A property manager who is knowledgeable about these regulations can help you stay compliant and avoid costly fines or legal issues.
- Professionalism and customer service: A professional property manager who provides excellent customer service can help you attract and retain tenants, resulting in a lower vacancy rate and higher returns on your investment.
- Peace of mind: As an investor, it’s natural to have concerns about your property and its value. An experienced property manager can provide peace of mind by proactively addressing any issues and ensuring that your property is well-maintained and protected.
- Preparing a property for rent: Generally, this involves ensuring your property is in good condition and ready for new tenants. This can include cleaning, painting, and making necessary repairs. A property manager can help you identify any issues that need to be addressed and coordinate the work required to get your property ready for rent.
- Dedication & understanding: A property manager dedicated to their job will go above and beyond to protect your property asset. They will take the time to thoroughly understand your investment goals and work with you to develop a strategy to achieve them.
Preparation and Marketing
Marketing your property is an integral part of attracting the right tenants. An experienced property manager like the team at McGrath Real Estate can use their knowledge of the local market and the target demographic to help you determine the best way to advertise your property. They can also handle all the details of listing your property online, organising the professional photography and writing descriptions that will catch the eye of potential tenants.
By working with a property manager to prepare and market your property, you can increase your chances of attracting the right tenants and renting your property quickly. This can help ensure a steady income from your investment and minimise the time your property is vacant.
At McGrath Real Estate, we understand the importance of having a hands-on, experienced property manager working to grow your investment. Our experienced property management professionals are dedicated to providing exceptional service and maximising your returns. Whether you’re a seasoned investor or just starting out, we can help you achieve your real estate goals.
Phone our office on 8350 4200, or drop into 42 Brighton Road, Glenelg.