It’s no secret that Brisbane is currently welcoming a lot of new landlords with newly constructed buildings, and with that comes an influx of onsite managers new to the industry. As new investors to the area many are unaware that they have absolutely no obligation at all to use these onsite managers. Developers are quick to send out appointment forms and word their emails in a way that makes the onsite look like the best option as property manager. But that is simply in their best interest as developers sell these businesses and the more rentals kept with the onsite the higher the price.
We recently wrote a post on renting newly constructed apartments and a point made in that was that if a building has been sold to mainly investors these managers need to rent quite a number of apartments in a short time. Under Queensland law, onsite managers and external agents are governed by the same legislation; the Residential Tenancies and Rooming Accommodation Act of 2008. Under this Act both work on behalf of the Landlord (Lessor) as an Agent, therefore a lessor is able to appoint anyone to manage their rental property without any implications.
Whilst there are benefits to using an onsite manager it is important to consider your options with what will likely be one of the largest purchases you will make. This can include doing some homework on which agencies operate in the area and seeing if they would be able to best manage your property (and act in your best interest, and not always their new neighbours, your tenants!). Onsite managers do play an important role in maintaining the building and surrounds (you and your co-owners pay them a salary through the body corp to do this job) but do they have the necessary education or skills to best market and manager your apartment as well?
Our agency is very experienced in dealing with the management of apartments and would love to assist you with your investment! Our friendly team are able to offer advice and make the transition to an external agency very easy!