As an investor, balancing the benefits of property ownership with the huge range of roles and responsibilities of being a landlord can be overwhelming.
It’s a new year, and if there’s one resolution worth making, it’s to evaluate whether this is the year to lean on a property manager. Let’s discuss why 2024 could be the pivotal year for you to consider professional property management services.
The Challenges of DIY Landlording
Private landlords often find themselves swamped with challenges that can spiral beyond their immediate control. Imagine the scenario: you’ve just returned from a well-deserved holiday season, only to find your inbox flooded and phone ringing with issues that need your immediate attention. These issues can range from emergency repairs that soured the festive season for your tenants, to rent arrears that impact your cash flow.
These challenges are daunting for a variety of reasons.
Repairs without a trusted network of tradespeople can compromise a property’s condition and tenant satisfaction. Getting quotes and waiting for a tradesman to complete your repairs takes time. When you’re not used to what repairs cost, how do you know the price is fair?
This is where a Property Manager comes in – they handle maintenance issues every day. We have a network of reliable contractors and know what a fair rate is. Our arrangements with tradespeople enable us to get them around faster than you may be able to yourself.
Secondly, mishandling communications around rent arrears can lead to legal and financial frustration.
Thirdly, tenant turnaround can disrupt your plans and cash flow, requiring a last-minute dive into tenant screening and placement—a task not befitting a relaxing holiday season.
Advantages of Professional Property Management
Professional property management services offer a respite from mounting tenancy issues. Listed below are a few reasons landlords are outsourcing property management to professionals like Glasshouse.
Time-saving and Convenience
In an age where time is the most valuable commodity, property managers offer a reprieve from the day-to-day management tasks that can consume your schedule. Delegating responsibilities such as tenant intervention and property maintenance doesn’t just save time; it also spares you the stress of being on-call for property emergencies.
Let Glasshouse take care of everything for you so you can sit back and enjoy the rewards of your investment.
Expertise and Industry Knowledge
Property managers operate at the intersection of industry trends, legal requirements, and tenant needs. Expertise allows them to navigate landlord-tenant relationships with ease, tackling nuisances associated with tenancy agreements with ease.
The team at Glasshouse are experts at nipping issues in the bud before they escalate, ensuring the best outcomes for you, your property and your tenants.
Streamlined Tenant Screening and Selection
Placing the right tenant is a pivotal decision that influences how well your property is cared for, along with cash flow.
Glasshouse Property Managers conduct rigorous screening, including credit checks, Ministry of Justice checks, and reference checks. Our founding principle is care, so we go above and beyond to find you careful tenants.
Rent Collection and Financial Management
This aspect encompasses more than just passively collecting rent. It includes setting competitive and market relevant rental amounts, enforcing timely payments, and maintaining records crucial for tax and legal compliance—all managed by professionals who understand the intricacies of financial management within the property landscape.
At Glasshouse we handle things like rent arrears with care, ensuring any issues are dealt with early before they become major problems.
Property Maintenance and Repairs
Proactive maintenance and swift, quality repairs are the unsung heroes of tenant satisfaction. Property managers handle these intricacies seamlessly, ensuring your property’s maintenance is a proactive plan, not a reactive scramble. At Glasshouse, we discuss with you, and get on top of any maintenance issues early to keep your tenants happy and ensure an issue doesn’t end up costing you a lot more than it needs to.
For more ideas about selecting the right property manager, take a look at our article: ‘7 Questions You Should Ask A Property Manager Before Hiring Them’.
Could This Be The Year For A Change?
If the thought of another year juggling multiple hats as a landlord and investor leaves you weary, consider this the year to explore the option of professional property management. Just as a well-ventured investment can yield great returns, enlisting expert help can really guide your property portfolio to a rewarding future.
Business Development Manager Anél Mostert says, “As professional property managers, we know the peace of mind that our service provides to landlords. So how about considering handing over management of your property to our professional, passionate team.”
Glasshouse Property Management is a rental agency with a difference: we have a real desire to care for both landlords and tenants, and we take our duty of care seriously. With that vision, we have grown to have a portfolio of more than 1,200 properties in our care in just a few short years.
Get in touch with us today to find out why so many landlords in Hamilton , Cambridge , and Te Awamutu trust us to take care of their investment properties.
