Hire Property Management Professionals
How is hiring a property manager helpful?
A 360 property management will enable you to maximize the increase in the value of your rental property. 360 Property management has 15-year experience as investors in the property market and fully understands what landlords want. Because of this, they are able to ensure landlords have great tenants, best market rents, low vacancies, no rent arrears, and an asset that increases in value.
Tenants are attracted to well-presented properties. The landlord is also more likely to get a higher rental income from a well-presented property compared to one with deferred maintenance. Simple details such as a freshly painted front door, tidy gardens and safety features like fencing, smoke detectors and alarms will add value to your property. Our provide managers will give you feedback on how you can make your 360 Property management's rental property more attractive to your tenants.
At 360 Property management, we believe that property inspections are very important. This is the major reason why we provide detailed digital inspections including photos which are invaluable for recording the condition of your property at the beginning of a tenancy in case any disputes arise later. We also recommend regular inspections during the tenancy to ensure cleanliness and presentation obligations are met. The regular inspections are also very important as they help identify planned or unexpected maintenance issues at the property. This can remedy your property as it deals with any issues before they become costly and require urgent repair. Proactive maintenance rather than reactive ensures that your property is well presented. This will help you get higher rental income and long-term tenancies hence increasing your cash flow and capital value.
3. Regular rent reviews
In order to maximize the performance of your property or portfolio, ensure that your properties receive the best market rent possible. Maximising the performance of your property or portfolio is very important as it will ensure that your property grows in value. This will enable you to get the cash flow to complete the required maintenance and improvements which will help attract and encourage stable and long term tenancies. Always remember that when your property grows in value, you will be able to gain access to additional lending.
4. Dedicated property manager
Our services for landlords majorly focus on communication and customer care. Once you entrust the care of your property to us, we will choose a dedicated property manager who will be the one to look after you, your rental property and your tenants on a day to day basis. The property manager ensures that your property is well maintained and taken care of, provide tenancy advice, be on call to respond to any emergency situations and keep you fully informed along the way. 360 Property management's property managers have a team of administration staff to help them. The managers also have excellent systems which minimize rent arrears and ensure that disbursements of rent payments, water, rates, body corporate fees etc. are made in a timely manner. Plus, you will be all set for the end of the financial year with detailed monthly statements that you can also view online. Don't also forget that property management services are tax deductible! A good property manager will ensure that your rental property gets the attention it deserves and also that it is kept in optimal condition. This will help you earn more money from your rental property.
A dedicated property manager will always be there to ensure that your rental property is well presented and maintained hence increasing the value of your prized asset. 360 Property management is usually there to offer a comprehensive and flexible residential management service to property investors and landlords who need experienced specialists. If you require experienced specialists with proven results, then 360 Property management is where to find them. Regardless of the number of properties you own, we are also ready to offer proactive services which focus mainly on communication and customer service. We have been able to achieve this because of our commitment to excellence and innovation. We are always ready to help you improve the performance of your property or portfolio.
Should you need property management professionals?
Keep in mind that hiring a property management is a personal decision and not always the right move for everyone out there. Below are 9 things that will help you determine whether you should hire a professional to manage your property for you or not.
1. The location of your property compared to your primary residence
The more miles between you and your investment property, the harder it's management. For example, if you live in Illinois and you have a rental property in Florida, it will be hard for you to quickly respond to emergencies, handle tenant complaints, take care of maintenance issues and even make sure that rent is collected on time. The time it takes to get to the property and the cost of getting to your property also adds up. In this case, it is a good idea to hire a property manager who can help you save a lot of money.
2. Before hiring a property manager ensure that you first look at your experience
If you are planning to invest in real estate but you have no experience in property management, it is wise to hire an experienced property manager. Learning through experience can end up becoming very costly. This is due to the fact that looking for the wrong person to do repairs or taking a long time to fill a vacancy may quickly eat into your potential income. Mistakes, like discrimination accusations, just because you didn’t understand the Fair housing laws or being a slum lord because you did not fix the heat on time, can lead to the demise of your investment.
3. Can you afford to hire a property manager?
Before looking for a property manager, assess your finances. What you should know is that property managers offer their services at a fee. Some will charge between 4 percent and 10 percent of the monthly gross income for the property. For a single family rental property, most managers charge a fee of around 10%. For a property with 10 units or more, you will need to pay between 4 percent and 7 percent. Some property managers will charge a tenant placement fee which is usually a bonus for finding a tenant. The fee will vary from a few hundred dollars to as much as one month's rent.