Why don’t owners always understand it costs money to make money?

Investing costs money. Every investor knows that these costs drain the value of their assets. Meaning, they are always looking for ways to slash costs. Cut out the dead weight. Only pay for what they really need. After all, that pesky fee or pricey premium is stealing money straight out of their retirement fund. Or their children’s first home. Or next year’s holiday.

Property can be one of the most successful ways to make money – investors generally know this. But do they also always realise it is one of the most expensive ways to invest? Who’s responsibility is it to tell them?

When individuals decide to buy a property for the purposes of investment, they are making life-changing, future-proofing decisions. They want to be successful investors. They are looking for advice and experience, and generally, they have budgeted in some way for the initial and ongoing costs that will be involved. An insurer to alleviate risk. An accountant to optimise tax. And a property manager to secure a tenant and maintain their physical asset.

As the life of the investment rolls on, the investor weighs up performance – of the asset itself, and the various costly services attached to it. Which leads to the inevitable question:

How do property managers stay on a property investor’s must-have list?

The roll of a property manager is to make themselves indispensable to the success of a real estate investment. How this is done, in an era of massive legislative change, data-enabled consumer empowerment and profound economic upheaval, is a conversation that is really worth having. At least, we think so.

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