Let’s say you own an investment property, or maybe you own two or three. First of all, well done! And second of all, you’re probably wanting to devote more time to your career or your family, and less time to dealing with tenants and their requests.

This is where professional property management can help you.

But property management can entail a few different things, so it can be a confusing concept to grasp at first. Here, the investment property experts at Patrick Leo help you demystify property management, telling you what you need to know:

What is property management?

Property management is, simply put, the oversight of your investment property by a third party contractor. Property management teams offer incredibly valuable services to take the pressure off of landlords, managing their responsibilities for them.

What do property managers do?

Property managers handle a range of tasks which would otherwise be the responsibility of the landlord. These include advertising your property for rent, finding great tenants, collecting rent, organising maintenance, calling tradies for quotes, resolving disputes, conducting inspections, arranging end-of-lease cleaning and more.

What are the benefits of hiring a property manager?

The benefits of hiring a property manager are numerous. Some of the key benefits include:

• Finding better quality tenants

  Property managers show a real strength in being able to list your property on all the best platforms and find you high-quality tenants. Property managers also have access to the National Tenancy Database which reveals background information and any previous problems with potential tenants. We search for reliable, long-term tenants with great rental histories.

• Less stress

  Midnight plumbing emergencies, evictions, disputes, chasing down rent – while all of these things are uncommon, at some point or another, they happen to every single landlord. A property management team handles all of these stresses for you, allowing you to put your mental health first.

• More time on your hands

  Time is your most valuable currency and being a landlord can very quickly chew it up. By allowing a property manager to handle the daily tasks of managing your investment portfolio, you get more time on your hands to focus on your career, family or leisure.

• Experienced assistance

  Being a landlord is tough, but it’s tougher when you’re just starting out. Hiring property management gives you access to experienced, dedicated professionals who are seasoned in finding great tenants, keeping them happy and steadily keeping the rent coming in.

Now that you know the ins and outs of property management, it’s up to you to choose the best team of professionals. Patrick Leo is the team of property professionals you need. We not only help you find great property, but also provide expert management of your assets so that you can focus on the things that matter most to you. To talk further, get in touch with our specialist property management team today.