The most important thing to consider is that a property representative is connected to the industry through their association with the Real Estate Institute and governing bodies such as Consumer and Business Services and SACAT (South Australian Civil and Administrative Tribunal). These associations provide regular updates on any legislative and policy changes. Ignorance of the law is not an excuse when managing an investment property. Getting it wrong could have expensive consequences.
It could be considered that managing your own property will help you save money. An important question to ask yourself is: Do you have the time and what does the day to day management of a property involve?
- Receipting rent and arrears management
- Water invoicing and overdue accounts management
- Routine inspection attendance and reporting
- Organising and attending to maintenance
- On call 24 hours a day for emergency repairs
- End of financial year statements
- Residential Tenancies Act compliance
- Legally compliant documentation
- Organising landlord insurance and smoke alarm compliance
Typically a management fee ranges from 7.7% and sometimes up to 15% of the weekly rent. For a property achieving $350 per week in rent at 9.9% (incl GST) this is a monthly fee of $150.15. A small investment to have for peace of mind. Also, remember the costs relating to the management of your property are tax deductable.
At M.E. Property we pride ourselves on being proactive not reactive when it comes to the day to day management of your home/investment.
We have developed this website for owners to better understand the complexities of self-management vs using an experienced property management company.
Here you will find the step by step process from how to get started, to rent arrears and what we do.
Taking your Property to the market
Securing the best tenant
Property condition reports
Tenancy agreement options and bonds
Tenant induction and handover
Rent and water collection and payments
Rent arrears what we do
At M.E. Property we are experienced property representatives who understand the complexities of the day to day management of your home/investment.