When deciding on how to best manage your investment property, keep in mind these two big roles: a letting agent and a real estate agent.
Finding the right fit for your budding empire could be the most critical decision you’ll ever make as you take your baby steps into property management.
What are your plans?
Who you should pick to manage your property depends largely on what your plans are for your property. Are you looking at renting out and leasing the property to the right tenant? Or are you listing it as a property for sale? Some estate management companies have letting divisions, but is this their main focus or will they be treating your investment property as a side business?
You have to set your plans clearly and be focused on your goals. This way, your decisions will be guided accordingly.
Keep in mind that hiring a professional will always be your best option to make sure your most valuable asset is in the right hands. But real estate professionals belong to different categories, with distinct specialisation. Again, when choosing who to hire to professionally help you with your property management, examine what really are your needs and plans as a landlord.
Separate roles
A letting agent and an estate agent have distinct functions. Each has a role to play in the real estate business and both are equally important. However, they function separately and one role cannot be interchanged with the other.
Letting is a specialised field in real estate. It’s not easy to let because it requires an inquisitive mind, critical thinking and focus on the job at hand. That’s what you can expect from a letting agent whose expertise deals with specific details of the rental process. In fact, a great letting agent will put in time and effort to find you responsible and loyal tenants. When you find that kind of letting agent, your life as a landlord is sure to become easier and happier.
Bet on the best option
If you’re a landlord whose only desire is to have a smooth process for letting, including all the legal arrangements and paperwork, then our advise is to bet on the best option – the one who will give 100% of their attention and time to your needs. That’s no other than the letting agent and property management agency.
You can hire an estate agent when your estate grows to become large, multi-use properties that is not dependent on rentals and is rather focused on capital value increases of the property. Meanwhile, to help you get to that point of success, you’ll need a letting agent.
Letting is a niche skill and letting agents have the capability to focus on doing what is expected of them, not only by yourself as the landlord, but by the tenant and the law, set out in legislation! A good letting agent and property management company, will let the property in the most efficient way. Estate agents arguably have too many responsibilities and if they cannot solely focus on your property being let, are they the best place for your property?
When you are considering a landlord focused property management firm or letting agency – there is one shining example here in Whangarei. RentalsCo are leading property management experts who understand the Real Estate and Government legislation.
For honest and reliable service, contact the team today.
