According to the REIQ (Real Estate Institute of Queensland) one of the most important decisions for owners of an investment property is who will undertake the ongoing management of their property.
A professional Property Manager's task is to inspect your property, discuss your requirements, advertise the availability of the property and rent it out on terms and conditions that suit you. But their job goes much further than that. A qualified Property Manager will be up to date with all the legislation that is so vital. A Property Manager will also be in constant contact with the market so when it comes to making sure your property is always rented or deciding what rent to charge tenants, their expertise will prove invaluable.
When you reach an agreement with a Property Manager, they become responsible for taking care of the tricky aspects of renting out a property, like selecting prospective tenants and checking references. The agent will collect the bond on your property and lodge it with the Residential Tenancies Authority, along with a copy of the condition report signed by both the tenant and the agent on the landlord's behalf.
Even the day-to-day running of the property, like maintenance, writing inventories and paying rates can be looked after by your property manager. Another important part of managing a property is carrying out regular inspections to make sure that the property is being cared for. In addition to all this your agent will maintain full records on the property and account each month for all rent paid as well as any money spent.
A property manager will also look after the financial side of things. Rent levels will be re-viewed regularly and quotes will be carefully compared for any repairs that have to be made to the property.
For a copy of our Landlord Booklet together with some fact sheets that might be of interest to you please contact our team today!
Our team would be delighted to manage your investment with your individual needs in mind when you are ready.
Please see below an extract from the Residential Tenancies and Rooming Accommodation Act 2008 Section 185 Lessor's Obligations Generally.
Our Agency holds a hard copy of the Property Agents and Motor Dealers (Real Estate Agency Practice Code of Conduct) Regulation 2001.
An electronic copy can also be obtained by one of the following methods;
- Download the file at www.legislation.qld.gov.au
- Visit www.fairtrading.qld.gov.au
- Requesting one of our team members to send through the relevant PDF file via email.