Do I need a property manager & what does a property manager do?

If you’re an owner of one or more investment properties, you may want to consider hiring a Property Manager. 

If you’re thinking, yeah, it sounds like a nice idea, but what value will they add? And how much does a property manager charge?

Well, let us provide some insight. Infolio has helped many clients truly understand the importance and value-add that hiring a property manager can have while also explaining the relevant facts to make an informed decision.

 Here are three main points to consider.

1. Property Management legislation

Property management legislation has changed a lot in the last year. Today, it’s no longer just about leasing your property and collecting rent. Nowadays, property management involves navigating strict laws set to ensure your rental property meets regulatory standards. If these standards are not met, it can lead to government penalties. These laws cover all aspects of your investment property, from the type of heaters permitted in your home to the way you can advertise your property. 

It can get complicated when trying to determine what’s what, and that’s where Infolio comes in. We take the complex and simplify it for you and ensure nothing gets missed! We’re well-versed in navigating these laws to provide the best outcomes for our clients. Our team also includes a dedicated renovation consultant who can assist in bringing your property up to standard (should it need minor or major works completed).

2. What does a property manager do?

• Maximise the rental return on your investment.
• Regular rental reviews.
• Proactive property maintenance and updates.
• Delivers qualified and up-to-date expertise on changing legal requirements.
• Minimise risk exposure regarding legislation and compliance.
• Advice on appropriate Insurance Coverage.
• Offers expert and quality marketing to attract qualified renters ready to pay top market prices and ensure minimal turnover/vacancy.

3. How much does a Property Manager cost?

Property management fees are generally divided into a handful of categories. Costs depend on the location of your property and the experience level of the agency or property manager.

 At Infolio, we base the management fee for one property on a percentage of the rental income. If you want to learn more, get in touch today and a quote for your property.

  The main categories include:  

• Monthly management fee.
• Letting fee to secure a new renter. 
• Incurred third party costs.

Ready to consider a property manager?

If you’re looking for a Property Manager with an excellent reputation, we’d love to chat! Contact us or visit our website to find out more about our property management business.