Property Managers: A Necessity?

May 7 2015 / 4:44 am Was written by Atwell & Co. Comments Off
property management, property management melbourne

Today’s life offers people instant gratification and self-sufficiency which makes them think that everything can be made possible if they put their heart and mind on it. While this holds true to various activities and instances, there are also times when having an extra hand can really be of great help – most especially when you are dealing with something risky and significant.

As identified by most homeowners, one of the greatest decision they have to make as a vender is whether it is necessary for them to hire a property management company when managing properties seems less taxing than dealing with other people in running the business. To narrow down this notion, here is a list of factors which one can consider before making one of the biggest decision you will make.

  • Number of properties

Before venturing into something big, think back first on the number of households you own. Keep in mind that the bigger the number of properties to be handled, the more difficult is it to handle them and even if the number of properties owned is not that much, managing different properties can really be taxing at times, much more if certain problems arise successively.

  • Property location

Sometimes, no matter what we do, inevitable things happen. Just like owning properties that are located far from each other. While travelling can bring positive outcomes with it, the thought of managing altogether properties that are miles away from can really bring stress to you.

  • Personal Skills

Landlording is not as easy as it seems. This seemingly laidback job actually requires more skills than what it sounds like. Aside from dealing with tenants and clients, this also needs maintenance skills like repairing, fixing and buying some necessary materials needed for renovation or simple repairs.

  • Tenant Screening

This investment causes too much money and of course, you would not want to spend much of your time repairing and constantly doing renovations on your property just because your tenants do not stay long. The longer the tenant stay on the area, the lesser the tear and wear they can provide on the property. Thus, to avoid spending too much on unnecessary things, it is much better to definitely screen prospective tenants well.

  • Availability of Time

Landlording will never be a problem if you have all the time for yourself and in attending to your properties; however, if you have family members to deal with, prior commitments that are hard to let go, and seemingly demanding job, you might want to think twice before you make such decision. Tenants come in varied wrappers. Some are good to deal with while others belong to the other side of the coin. You might come upon overly complaining tenants who would want their needs to be attended immediately no matter what time of day it is. Therefore, be sure to prepare yourself not only tending to your needs and property but as well as to your tenants.

  • Estate Trends

Aside from the unusual happenings in the environment and people around you, real estate trends do change as well. What could have been on top on the previous months can possibly fall back just a day or week after. So, it is better to be prepared on what could is most likely to happen on your properties if some inevitable things happen.

  • Constant Upgrading

At this time where the number of crimes happening has not been stabilized by those on patrols, it is but reassuring for your tenants as well as your properties to have software and security system that will be keeping your household protected from all those unlikely interceptors. And mind you, this is rather costly on your side. Thus, it would be much better if you invest also into something that can ensure you that it will last long and can guarantee you accuracy and efficiency.

The bottom line here is that, it will always be your choice whether you opt to get a management company or not. Because in the end, the best person who can evaluate the decision you have made is yourself. However, it is best to weigh things first before jumping into something that could either give the best or the worst result.

Atwell & Co Real Estate
Unit 6 / 29-30 Grattan Street Prahran, Victoria 3181
Phone: (03) 9510 6203 URL of Map