The five biggest property management myths debunked

There’s a little more to being a landlord than collecting regular deposits from your tenant and occasionally checking they haven’t burnt the property down. Being a property manager is a job I absolutely love, but I’m regularly surprised by the misconceptions around what I do and the value of my role. So, I’ve come up with the top myths I come up against and prove just how valuable a great property manager can be for your investment.

Property managers are too expensive
The cost is one of the first things I’m questioned on, and rightly so, as you want to maximise your investment. However, ‘too expensive’ is a myth I’m going to crush because the value behind the fee property managers charge will far outweigh the cost. A good property manager has a wealth of knowledge and experience in the local real estate market, engages proactive marketing, has a team dedicated to the upkeep of your home and can often increase your net income.

Property Managers just collect rent

The role we play is incredibly varied, doing many tasks for many different people every day. D Residential is in control of your investment property on a daily basis overseeing, no surprises, rent, but also ensuring your property is well maintained by the tenant. We arrange routine inspections and repairs, ensuring your tenancy complies with the Act, limiting risks and while doing so, we work hard to ensure a good relationship between you and your tenant exists (which can be a delicate balancing act, speaking from experience!).

Renters will destroy a home unless the landlord is diligent

It’s time consuming to keep check of a property, but as a professional, it’s booked in my calendar with regular appointments I never miss. On top of that, I thoroughly screen my list of tenants and expect high standards from all of them. I haven’t been disappointed once – my tenant list is top shelf!

The Act requirements can be adjusted if agreed to by the tenant and landlord

Understanding the intricacies of the Residential Tenancy Act is no small feat and there is no bending the rules – even if both parties think it’s a good idea! The rights and responsibilities for both lessors and tenants described under the Act are there to protect both parties, especially if the tenancy has to end early. The rules from the Act might not be written into a rental agreement, so it is very important you have a property manager guiding you (or be very well-versed in the Act yourself).

You’ll have no say in contractor choice

Sure, we have our favourites and we’ll recommend them, but that doesn’t mean it’s our way or the highway. We often get called outfor being pushy and forcing landlords to surrender their choice of contractors. However, for us it’s about simplifying maintenance needs for our many and varied clients, and that’s why wehave affordable contractor services readily available. However, it’s also no problem to adjust our terms to ensure you have approval over all contractors. We’re nice like that!

So that’s today’s edition of myth busting done and dusted – if you have any more myths for me to challenge or would simply like more information about how I can help you best manage your property, call me on 0402 888 550.

Read More D Residential Articles

5 Tips before you begin

Thinking of investing in property? Our top five tips before you begin… Property investment can be one of the most financially rewarding decisions you could make… if you do it well. It’s important to understand risks around any investment and to set up strategies to give yourself the best outcomes. With 16 years industry experience, […]

read more

Welcome to the team, Anja Hegermann

At D Residential headquarters, we have been expanding. In March, we welcomed a new team member into the role of marketing coordinator and could not be more thrilled to have Anja Hegermann onboard. I was tempted to advertise ‘must love dogs’ upfront as Fred the Cavoodle is a key team member at D Residential, but […]

read more

Top tips for tenants in Perth – how to stand out in the crowd

It’s a tough time to be in search of great properties to rent in Perth, with queues at inspections in my local area of expertise Mount Hawthorn often extending beyond 50-metres. You need to stand out and prove that you’ll be an exceptional tenant. So, here are my best tips to successfully renting in Perth […]

read more

Discover service & expertise you can trust