Property management has been around since ancient Roman civilisation – where Grecian cities appointed men to manage properties and collect rents.
Fast forward to the modern day and the role of a property manager has without a doubt evolved to encompass far more than rent collection.
What has changed in recent years though, is the question of whether a landlord should self-manage or hire a professional property manager.
What a difference a few months makes.
Back in April this year, the inner Sydney vacancy rate was falling as people returned to the city for work and study, which created a surge in demand for rental properties.
Fast forward to now and the Real Estate Institute of New South Wales’ June 2017 Vacancy Rate Survey reports the inner Sydney vacancy rate is back up to 2.2 per cent after a jump of 0.3 per cent.
Lane Cove is a suburb nestled amongst parks, bushland, and greenery on the Lower North Shore of Sydney. The peninsular runs adjacent to Lane Cove River and is surrounded by suburbs Chatswood, Artarmon, Greenwich and Riverview.
Everyone has heard nightmarish tales of bad landlords. But what about nightmare tenants?
Today, there are more people renting for longer periods than ever before. As property prices continue to rise, fewer people can afford to buy, which creates a large pool of long-term renters.
With more people renting for longer periods, it’s inevitable that landlords and property managers will encounter more problem tenants.
Thorough and proper tenant screening helps to stamp out problem tenants.