As a property manager that has been in the industry for over 20 years this is a question that I’ve been asked many times across both residential and commercial property management. More predominately in commercial property management as a lot of landlords feel that the tenant would look after most of the maintenance and repairs so other than collecting the rent what else is there to do? I begin to point out the importance of having a professional agent and they soon change their mind.
There are many reasons why having an agent manage your commercial property is very important but the main one is that they do actually manage your property!
This includes far more than collecting the rent, albeit this is an important factor. We ensure all our tenants pay monthly and it is due on the 1st of each month. We then pay to the owners around the 7th so we aren’t holding onto the funds the whole month. Having all tenants rents payable on the 1st also makes managing rent arrears an easier task.
As specialist commercial property agents your property manager at PURE is very familiar with all aspects of management and leasing. One of the items that we do is give advice on acceptable leasing structures when doing new leasing and renewals. Negotiating lease terms with tenants to obtain results that ensure the value of your property is enhanced by the lease and not restricted or worse devalued.
As we manage a portfolio of properties, we have regular maintenance contractors that we trust and can be assured to perform a good job. Managing your own property would limit you in this respect also.
Hate doing bookwork? We have that covered too. We can pay all the outgoings associated with your property so that they show on your statements. Anything that has been paid during the month has the invoice attached and this can simply be passed onto your accountant or book keeper to enable them to prepare your BAS and income tax summaries. We are also happy to email copies of these direct to your accountant or bookkeeper, so you don’t need to do anything.
Juggling the day-to-day tasks as a property manager is not easy and if you are considering self-managing this needs to be considered. These tasks could include advertising, assessing applications, chasing rents, lodging and disbursing security deposits (bonds), coordinating repairs, carrying out inspections, chasing up to date copies of insurance policies.
Dealing with tenants in a professional manner regarding queries and problems that inevitably arise from time to time with the property achieves the best outcome so that both the tenant and the landlord are happy.
Finally, if your tenant is on a Net lease that you can include the management fees as an outgoing, so you don’t actually even pay for our professional service! In my mind you’d be crazy to try and do it yourself.