Owning an investment property is only the first step in being a property investor. The next step will be managing the property.
We have previously discussed the required skillset in successfully managing an investment property. Actually, you can choose to do the job yourself or hire a professional property manager for the task.
At first, it may seem like an excellent idea to handle your own property and retain full control over costs, occupants and earnings. Nevertheless, self-management can often be a headache: when something breaks down or your occupants are late with rental payments, you bear the sole duty to address it.
You may think that you are saving money by being the manager of your own property, but it’s not always the case, especially if you do not possess the essential skills. For example, you need to be knowledgeable about the regulations and legislation concerning tenants.
Many successful property investors do not consider managing their properties themselves because they know that the stakes are too high. They maximise the services provided by professional property managers to ensure that the asset is maintained to its highest value possible and that the maximum yield is acquired.
It’s just like hiring a mechanic to maintain and to take care of your car. Your investment property is possibly one of your most valuable assets, so why think twice about hiring a professional property manager for your investment portfolio?
Further, management fees are tax-deductible, yet another advantage to engaging a professional property management service to manage your valuable asset.
If you have any questions relating to property management or if you are interested in Bluestone Property Management & Sales managing your investment property please give me a call on 0439 979 095.
Bluestone Property Management & Sales
P.S. One of the best strategies used by experienced property investors is to regularly review the health of their property investments. Leverage my knowledge and experience and take advantage of my FREE (normally $499) no obligation Property Health Check and a complimentary consultation.
Simply email me today and schedule a suitable time.
Bluestone Property Management & Sales is the real estate agent that savvy Investors use when renting out their rental property/properties in Brisbane Queensland (QLD). Why because Bluestone’s Property Managers maximise the rental yield and minimise the stress involved in managing their units, apartments, townhouse and houses. Additionally, Bluestones Property Management Fees (commission charges) provide excellent value for money, so if things aren’t stacking up with your current agency give the Team at Bluestone a call.