Did you know that most experienced property investors utilise the skills and experience of a professional property manager?
New Zealanders generally like to try and do things themselves; it’s the No.8 wire entrepreneurial can-do attitude. But when it comes to managing what is to most people their largest financial investment, why wouldn’t you employ a professional like Auckland property manager Rachel Kann, pictured, of IQ Property Management.
Most experienced property investors employ a property manager to look after their investments, just as they employ an accountant to manage their money; it's good business sense.
Novice investors tend to manage their own investment properties believing rental property management is easy; you find a tenant, move them in, collect the rent and do a bit of maintenance now and then. Of course, it can be that easy if you find an excellent, easy-going long-term tenant, and if you're a landlord with time on your hands who also has good knowledge of the Residential Tenancies Act to ensure you're always compliant with the law.
The reality, however, is that most landlords don’t know or fully understand rental property law, and very often break it without even realising, leaving themselves open to compensation claims.
Consider the following: even the best tenants can lose their job, which can lead to rent payment problems and a large debt by the time you take action to get them out. And what seemed on the face of it the best type of tenant can all too quickly turn into a demanding impossibility where they make compensation claims against you because you failed to comply with your duties and responsibilities as Landlord, or even worse you unknowingly committed an illegal act. The Tribunal is no more lenient on private landlords than professional agents; they expect you to know your law.
So when things do go wrong, inexperienced property investors are ultimately ill-prepared to deal with the problem. Often they take action far too late, exacerbating the issue and incurring larger financial losses, the cost of which is well more than a year’s worth of professional property management fees.
Just as you would use an accountant to ensure you achieve the best tax benefits, it’s a professional investor who uses a property manager to ensure they generate the best return on their investment. Property management fees are tax deductible.
10 Reasons Why Professional Investors Use A Property Manager Like Rachel Kann:
Want peace of mind that your property is being properly looked after?
Contact Auckland Property Manager Rachel Kann on 021 735 266 now to find out how IQ Property Management can protect your property and generate the best return on your investment.