Why the right property manager matters – GeelongMarch 1, 2016
Many years ago when I had absolutely no knowledge of property management, I responded to a family who were in dire need of a roof over their head. Before I knew it, they had moved into our vacant property. Unfortunately they didn’t move in as legitimate tenants, but as squatters. I had no idea how to handle the situation and sought legal advice. Luckily for me I was able to move them on without trouble.
I then approved some friends to move into the property. It was old and was going to be demolished so I wasn’t too worried about the repair of the property. I just wanted a tenant who would pay rent, keep the gardens neat and tidy and pretty much protect it from more squatters.
Oops, another mistake.
I couldn’t make the commitment to collect the weekly rent, and naively thought my friends would have it for me when I did eventually turn up to collect. Wrong again and before I knew it they owed plenty of rent and our friendship was pretty much done and dusted.
I had no idea how to handle the situation. I didn’t know that there were regulations and legislation that landlords and tenants were bound by. I had no idea how to recover the rent arrears so I sourced a ‘rent lady’ in a real estate office and eventually settled on someone who gave me a ‘good talking to’about the ins and outs of how rentals work. Needless to say, she opened my eyes about a few things and I didn’t look back. She soon got my ‘friends’ in order and the rental arrears paid up.
Employing the services of a professional to ensure rent was paid and the property maintained, was easily the best decision I made. The stress of finding time to collect the rent was removed. It was much easier to pay someone who knew the role, to manage the property for me.
That property manager was instrumental in piquing my interest in property management and soon after I was pursuing a career in real estate.
Many years have since passed since I met that rent lady. From that first meeting to the present day we forged a professional relationship which in turn morphed into a great friendship and today, a great business partnership.
For me, the proof is in the pudding, if you don’t know how to do something, in my case back then, manage a property, source an expert in that arena and do yourself a favour – employ their services.