If you're new to property investing, you might be wondering about your obligations as a landlord, as well as how to find the perfect tenants to occupy your space.
Being a landlord can be complicated business – there are a number of duties that you will be expected to fulfil and legal requirements that you will need to meet. And this is before you get down to the business of finding reliable tenants, collecting rent, arranging inspections and repairs and dealing with any issues that may arise during the course of any given tenancy.
As you can imagine, the process can be time-consuming and requires plenty of hard work and research – and for busy investors who may already be busy with full-time employment and other commitments, this may not be a realistic expectation.
This is where an experienced property manager can provide you with invaluable help and support. The job of a property manager is to act on your behalf when it comes to the smooth running of your investment property – and whether you are looking for new tenants to rent a house in Wollongong or for someone to arrange repairs or negotiate lease terms, they can be a useful resource.
Your property manager can also help to maximise your investment by ensuring your property remains vacant for as little time as possible – and for helping to prevent common tenancy issues by using a comprehensive screening process for new tenants.
Property managers are also valuable in terms of their vast network of contacts – as such, they may be able to organise lower-cost repairs and stay on top of maintenance in a more effective and efficient way than a landlord acting alone.
If you are a first-time investor in the Illawarra or the Wollongong Area, the team at MMJ Real Estate can provide you with essential property management support to help you make the most out of your new venture.
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