Of the roughly 600,000 rental properties across the country, the private sector provides the overwhelming majority, at about 510,000 or 85 per cent. While precise figures on the size of the rental economy are not kept, if turnover, in the form of rent, is used as a guide then it is worth in excess of $15 billion a year, says the Property Investors Federation.
About a third of private rentals are managed by property managers and it is a service industry, says David Pearse, Residential Property Managers Association (RPMA) chair.
Hiring a property manager is a bit like hiring a lawyer or accountant and a good manager will save landlords time, money and hassle. They take the stress out of owning a rental property by juggling all the day-to-day, nitty-gritty and headache-inducing tasks that sap energy.
Pearse says property management is about the quality of service, which comes down to the amount of time a property manager can spend on a landlord’s asset. “Landlords need
