There are a many people in the financial services advice industry who advocate investing in the property market will provide a huge number of benefits including large profits for the investor.
With this knowledge, the property market has become a very attractive proposition, particularly to the more high- end investor looking for the best returns.
In saying that, there are a lot of Mom and Dad investors who are now considering property rental as a wise investment to future-proof their retirement.
Nevertheless, as with any other form of investment the real estate market is not without its pitfalls and indeed carries many risks especially for the novice investor.
So – how can you mitigate the risk on property investment? It’s simple – work with a specialist.
Any time you are investing your hard-earned cash and looking for good returns and especially when buying property for rental purposes an established property management rental company is where you will find the most benefit.
A good property manager will have current market knowledge of property and locations where you can get the most gains to mitigate the risk and make a sound investment.
They will be able to give your current information on rental properties and information and advice on the following:
current market knowledge of property and locations where you can get the most gains
up to date information on supply and demand in all areas, prices and styles of property rental in the marketplace
confidence that the property has been priced correctly
know the best way to market the property you are considering investing in and how to get it tenanted quickly and with reliable tenants
be able to interpret the law and communicate to you the legal responsibilities of a landlord and tenant
establish credit checks on prospective tenants on your behalf as they have access to special credit checking services that will expose any tenants with a bad credit rating or are flagged as undesirable tenants
most respected property management rental companies will belong to a group of property professionals where they can get legal advice, up to date training, attend conferences and share anything new information of interest to the property market and their investors
have a database of qualified and respected tradesmen they work with regularly to carry out repairs to property on your behalf
regular inspections, reviews and reporting on your rental property to ensure your investment is maintained in the best possible manner
With a professional managing your investment, you will never have to worry about calls from tenants when you are away or unavailable during the day. All calls and problems are handled by the management company and responded to with urgent problems being attended to within 24 hours.
So for anyone who is considering property rental as an investment for your future make it a priority to consult the professionals.
Remember the old saying “penny wise and pound foolish”… it would be a mistake to invest thousands of dollars in a property without investment a small amount of time in some sound advice by someone who knows the property market and can give you the best value.