Owning rental property is a very rewarding experience. It provides you with income and your tenants with a lovely place to live. However, to keep your property in good condition, you will either need to hire a property manager or manage it yourself.
Managing your rental property involves plenty of work, from finding and vetting new tenants to taking care of day-to-day tasks. Should you hire a professional to take care of things for you, or should you take on the responsibility of managing your property yourself?
The correct answer to this essential question will vary from person to person, so you must analyse your situation and goals before you decide to take the professional or DIY route.
Professional Rental Property Managers Versus DIY Property Owners
Naturally, each choice has advantages, and what matters most to you as a property owner depends on your preferences and circumstances.
The key benefits of professional property management include:
- Expertise. At Comprendé, we’re thrilled to use our years of experience and passion for property management to help our clients make the best decisions possible for their rental properties. We’ve handled all kinds of property management situations in the past, and we continuously look for ways to keep up the good work and improve our services. Regardless of your circumstances, we face everything with level heads and positive mindsets.
- Saving Time. Property management involves a lot of work. Finding tenants, handling inspections, answering maintenance requests and collecting rent are just a few of the management tasks that must be completed. We take care of everything for you so you can focus your time and effort on other things
- Managing Tenants. One of our goals is to ensure that everyone is happy, including our property owners and their tenants.Tenant screening, performing background checks and taking care of maintenance queries are just three aspects of tenant management that our rental property managers will handle for you.
- Staying Legally Compliant. You won’t have to worry about learning tenancy laws when you work with us. We stay up to date with New Zealand’s laws to ensure your property is entirely legally sound.
On the other hand, the main advantage that DIY rental property managers experience is that they don’t have to pay property management fees. Although, it’s important to note that professional help can save you money in the long run. For example, we can improve tenant retention through our work. This tenant retention leads to fewer vacant periods for your property and, therefore, reduces periods where you are making no money from your property.
Deciding With Pathway Is Right For You
How do you know which option is best for you as a property owner? When deciding, ask yourself these important questions:
- What Are Your Property Management Goals? What kind of property owner do you want to be? Owners who are very hands-on may prefer to do things themselves, but owners who would like professional assistance can greatly benefit from hiring a rental property manager. Before you work with us, we encourage you to discuss your goals and style with our team.
- How Much Time Can You Commit To Property Management? Think about all of the tasks you would need to take care of on your own and imagine the time commitment that goes into that work. Can you put this time and effort towards your property, or would you rather save time by working with a property manager?
- Do You Keep Up With Laws Regarding Rental Property Ownership? It’s extremely important to stay legally compliant when working with your property and managing tenants. If you work with our rental property managers, then you won’t have to worry about this.
- How Far Is Your Property From Your Home? If your property is rather far from your home, then you may not want to have to consistently travel to and from your home and your property - this is especially true if you own multiple properties spread across Wellington. Additionally, think about if you plan on traveling, going on vacation or going overseas in the future - what will you do about your property when you are away? When you work with a property management company, you will not have to visit your properties in person as much. Simply stay in touch, and we will keep you updated.
Making The Right Choice For Your Wellington Property
How would you like to handle your property? We invite you to speak to our Comprendé team, and we can discover the best solution for you together.
To reach us, you can call us on 04 384 2141 or use our contact page.
