Investing in a property in Wollongong with a view to renting it out can be a great idea if you're looking to make consistent returns, but what many people fail to remember in the heat of the moment is that your obligations as a landlord never stop – even when you're not in the local area.
This means that if you spend time away over the summer holidays or you frequently travel to other states or countries, you need to have a contingency plan in case anything happens at your rental property.
Tenancy issues can include everything from emergency repairs to electricity or water connections to break-ins, damage or even compliance with strata by-laws.
And while no landlord likes to think about what could go wrong when they make an investment, it is important to have a plan for any emergency that could arise – especially if you're away on a summer holiday at the time.
In an emergency situation where a landlord needs to be present, assistance and support from a professional real estate agent can be crucial. The right property manager can take on the duties of landlord on your behalf, which means that wherever your travels take you, you can rest assured that someone will look after your property and your tenants.
At MMJ Real Estate, we know that property investors have real lives too – and whether you are looking to spend a few weeks getting away from it all on a beach during the summer holidays or you live out of the Wollongong area, we can take the responsibility of managing your investment off your hands.
Enlisting help from the professionals can have important benefits from a legal standpoint too. In the unlikely event that any problems arise, we can take appropriate action in accordance with the law, and support landlords through every step of any legal processes that need to be undertaken.