First things first

Investing in property represents an investment for your future, whether this be for the long or short term. A well chosen property can provide a good and steady return on investment over time. This combined with reliable tenants and a well maintained property can most certainly result in a worth while investment.

The management of this investment, should be considered carefully. With the assistance of a good Property Manager the management of your asset can become relatively easy, with little of your personal time required.

Landlords who choose a hands on approach to their investment properties must be willing to organise their own repairs by a qualified tradesperson, attend to all administrative matters, collect their own rent, prepare their own tenancy agreements and be up to date with all legislation relating to tenancy and property law.

So how do you choose a professional person to represent you if you are not going to manage your own investment?

Most agents will have a department solely dedicated to looking after the needs of it's landlords and tenants. This department will specialise in this field and have a thorough understanding of property management procedures, relevant laws and tenancy related matters.

We've prepare a check list below of common criteria Landlord's often require to be met before employing a property manager to take care of their investment.

You may think of other things to ask the Property Manager, make a list and don't be shy to ask, as this is your investment. You have the right to be sure that you are making the right decision.

Property Manager Checklist

• Do they hold the correct certification from the Department of Fair Trading www.fairtrading.nsw.gov.au
• Do they have sound knowledge of the local market?
• What is their approach to selecting a tenant?
• Do they have an understanding of the current laws?
• What systems do they have in place for management of arrears, collecting rent and periodic inspections?
• How do they report to the landlord and how frequently?
• Does the office have a Property Manager solely dedicated to management?
• Can they attend to your outgoing expenses and arrange qualified tradesmen?

Please contact our Property Management team on 08 8088 4488 or email rent@brokenhillfirstnational.com to learn how we can successfully manage your investment property.