Landlords Better Protected using a Property Manager – L J GILLAND REAL ESTATE PTY LTD – http://wp.me/p1bR1G-hz

Survey finds Landlords are better protected using a Property Manager

The DIY approach to property management might be tempting – but a new study of 500 landlords shows they are more likely to turn a profit if they have a professional property manager.The Jones Donald Australian Private Property Investor Study found 46 per cent of landlords with professional property management were making profits, compared to 34 per cent for those who self-managed.

The study also revealed that landlords who used professional property managers were less likely to be exposed to major costs from bad tenants and law suits.

Eight of ten landlords using professional property managers had the peace of mind of being protected by landlord insurance. For self-managing landlords, that fell to less than half.

General Manager, RentCover, Sharon Fox-Slater, said an asset worth hundreds of thousands of dollars should be both professionally managed and protected with insurance.

“On these figures, the landlords who are the most successful at making money are also those professional enough to take out the insurance they need,” she said.

“It’s also worth taking the time to fully compare what various policies offer. A lot of people spend more time choosing a flat screen TV than researching their options with insurance.”

“Landlord policies are not all alike and don’t all cover the same things and certainly don’t all have the same service if you need to make a claim.”

The survey found:
• More than 77 per cent of landlords involve a property manager in some aspect of their property management, with more than half handing full management to professionals.
• Only one in 20 – six per cent – make enough money from property to give up their day jobs.
• More than three quarters feel “positive about being a landlord” and one in five plan to buy property in the next year to 18 months.
• More than a quarter (28 per cent) of landlords intend to raise rents on their properties in the next six months.

 

http://wp.me/p1qS3N-oX & http://wp.me/p1qS3N-oZ

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About http://www.ljgrealestate.com.au

Previous Board Member of Singapore & Malaysian Business Associations, BA Modern Asian Studies (GU) majoring in Economics & Mandarin, Licensed Real Estate Agent since 1996. Member of REIQ. Firm Member of Leading Property Managers of Australia. Our expertise at LJ Gilland Real Estate is your peace of mind. Our reputation lies in high performance property sales, and we take great pride in our excellence in property and asset management as well as body corporate management. We find individual solutions to fit our Clients needs. Being property specific rather than area specific because confining ourselves to one area simply wouldn't be giving you what you need. Specialties International Business negotiations, bilingual, Appraising Queensland Based Properties, Contractual negotiations, Dedicated to Family & Business, hardworking & focused to get the best outcomes for each and every Client.
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