Why a Property Manager is a good idea
REIWA– With around 60 per cent of investment properties in Western Australia professionally managed by a real estate agency, there are many reasons to engage a property manager.
Risk and responsibility
Property management is more about managing the tenancy than it is about managing the property with the property manager’s main point of contact being with the tenant.
Importantly, much of the risk and responsibility attached to the management process is carried by the managing agent.
Residential Tenancies Act
One of the most critical aspects of a property manager’s role is managing the tenancy agreement as expressed by the terms of a lease and regulated by the Residential Tenancies Act (RTA).
For tenancies longer than three months, the RTA applies automatically, whether there is a formal lease or not, so it’s in your best interest to utilise the services of a competent property manager who will have comprehensive knowledge of the Act.