Owning a rental property can be a wonderful investment, allowing you to enjoy financial stability (or at least an additional income), but it can also be a lot of work, which is why many landlords find it best to hire a residential rental property management to help them. Let’s take a look at some of the many benefits of this idea; you might just find it’s the right option for you.
Finding good tenants is massively important, but it’s also much more of a challenge than a lot of landlords first realise; without a good screening process, you might find out too late that your tenant is, shall we say, unreliable, and that can lead to property damage, late rent payments, or no payments at all. A residential property management company uses screening tools coupled with extensive experience and industry knowledge to find you the best tenants, which is going to reduce the chances of these problems happening.
Legal compliance is another area where DIY property management can be more trouble than it’s worth, especially when you consider that the regulations around rental properties in New Zealand is always evolving (in a good way). If you don’t stay up-to-date with these laws, however, you might find that you make a mistake, whether that’s to do with the lease, the bond, or the property itself, and that can end up being an expensive and upsetting problem – you’ll get a fine and you might lose the property. Residential rental property management companies know the laws inside and out, and they always stay up-to-date, taking one less thing off your shoulders.
What do you need to do as a landlord? You need to collect rent, deal with maintenance requests, inspect properties, and so on, so although being a landlord might seem quite easy, there’s never a quiet moment. Unless, of course, you have a residential rental property management expert to do the jobs for you. In that case, you’ve got more time to do other things, and you’ll know the tasks are being done right.
If you’re looking for stress-free rental management, just get in touch with the experts at Home James Property Management. We can take care of your property while you enjoy the returns.
