There are many reasons you should hire a property manager, but even more to hire a local property manager.
One of the top advantages of hiring a local property manager is that they have a comprehensive, up-to-date, understanding of the local real estate market and the availability of new tenants. This can help ensure that your rental is always in demand and attractive to prospective tenants.
Properties will be well maintained and remain attractive to prospective tenants by property managers. Leading to reduced vacancies between tenants, ensuring you are making the most money from your property as possible within the year! The regular inspections will help to give peace of mind too that your tenants are taking good care of your property.
Additionally, local property managers are well-versed in tax laws, regulations, and other best practices. This can help you make sure that you are always following the applicable laws and avoiding any potential legal issues, preventing you from accidentally getting into trouble.
Being in the same area, any tenant issues that may arise can be dealt with quickly, efficiently, and in person if necessary. Inspections as well can be much more regular and within business hours (provided it suits the tenant) as opposed to you having to spend your evenings or weekends completing them! Spend your free evenings how you want!
Local property managers have access to a wide range of marketing tools in order to effectively promote your rental property. They can reach out to local businesses and organisations in order to increase visibility for the property, as well as develop relationships with real estate agents in order to attract qualified tenants. This means your property will get leased earlier and have less of a transition time between tenants!
Going above and beyond, local property managers can also provide comprehensive financial reporting for taxes and other investment decisions. They are in the unique position of being able to offer professional and specific advice to you due to their insight into the regional market and your portfolio.
Overall, having a local property manager is a great way to ensure that your rental business runs smoothly and that you get the most out of it. With the right person to manage your property, you can enjoy peace of mind knowing that everything is taken care of. Giving you more time to enjoy the benefits of your investment!
To understand more about our process and how we work in the Wellington region, click here!