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Investments Property Management Tips

The primary reasons why many people shy away from investing in property are the associated hassles that property ownership and management brings. For example if you become a landlord you will hate to hear your tenants complaining about faulty plumbing at unearthly hours. The success of your real estate investment will depend a lot on maintenance and ROI so you should concentrate on these tips to reduce your hassles

Always invest in new property

Never fall for the “old world charm” or the” decadent beauty” or the” bargain offer” which comes with a three decade old property. This is a true blue real estate nightmare that will tax your pockets and your brain. The first rule of investments property management agents is to buy only new properties.

Older properties come with faulty plumbing, electrical problems and defunct air conditioning systems. And if you happen to purchase a building/ house which have asbestos lining in the attic then you are in for a new type of trouble. All these associated costs and hassles will soon outweigh any kind of pleasure/cash benefit you might have derived out of purchasing that old property. Don’t buy anything that’s built before 2005.

Hire a property investments consultant

Estate agents know the property market by heart and they will be able to guide you on making the right decisions on purchasing and leasing. If you are a newcomer in the investments property management market then it’s always advisable to take professional advice from Mortgage broker Wellington before taking the plunge.