in­vest­ment help

The Advertiser - Real Estate - - Open House -

WHEN pur­chas­ing an in­vest­ment prop­erty and of­fer­ing it for rent, it is highly rec­om­mended you use a pro­fes­sional prop­erty man­ager to l ook af­ter your val­ued in­vest­ment.

An ex­pe­ri­enced prop­erty man­ager has com­pre­hen­sive knowl­edge of the Res­i­den­tial Te­nan­cies Act 1995, which stip­u­lates the le­gal re­spon­si­bil­i­ties and rights of both land­lord and ten­ant, en­sur­ing the best in­ter­ests of both par­ties.

Prop­erty man­agers deal with all the let­ting, main­te­nance, rent ar­rears, rou­tine in­spec­tions and ten­ant com­plaints re­lat­ing to your rental prop­erty. They will also have a data­base of po­ten­tial ten­ants that will cut down the length of time the prop­erty is va­cant and re­duce ad­ver­tis­ing costs.

A man­age­ment agree­ment should be signed by your­self and the prop­erty man­ager be­fore rent­ing out the prop­erty.

The agree­ment spec­i­fies the terms and con­di­tions of man­age­ment of your prop­erty, such as a man­age­ment fee, let­ting fee and other as­so­ci­ated costs.

The ad­van­tages of hav­ing a pro­fes­sional prop­erty man­ager far out­weigh the costs as­so­ci­ated. It is a prop­erty man­ager’s job to en­sure your as­set is mon­i­tored and main­tained.

A prop­erty man­ager who is an REISA mem­ber will abide by the as­so­ci­a­tion’s Real Es­tate Code and Res­i­den­tial Leas­ing Guide­lines.

To view a list of mem­ber agen­cies, go on­line to www.reisa.com.au.

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