There’s a steep learning curve for first time residential landlords but Colliers International’s property manager Paul McConnon says using an experienced property manager can smooth out the process.
You’ve done your homework and you’re familiar with the market but once the property has settled, it’s time to test the questions that up until then have been academic.
Will I get a good tenant? What rent will the property achieve and will I get a return on my investment? If you don’t have the time or the experience to manage the property, it’s best to appoint a managing agent who can negotiate and manage a lease on your behalf.