Archive for property management in campbelltown

Choosing the best property management agency

Posted by thepropertypeoplecampbelltown 
· 8 February 2019 

Choosing the best property management agency is a critical part of a smooth-running investment property.

Many investors focus all their time and effort researching the property markets to secure a top investment, however, they let themselves down by spending very little time researching the best property management agency that can preserve their property’s value and maximise their rental income.

Too many landlords choose their agency on fees alone. Others think they don’t need an agency and can do it themselves. This is possibly because they don’t appreciate that property management is so much more than just collecting rents. And great property management can save landlords thousands of dollars!

A professional property management agency should minimize your vacancy, maximise your return, and all while preserving your property’s value.

It requires: –

  • Industry specific skills and knowledge such as knowing how to market your property effectively to get it in front of the largest number of ready tenants.
  • Setting the rent at an appropriate market level to ensure timely leasing from the choice of a variety of good quality tenants.
  • Checking potential tenants’ references to ensure they are reliable and are unlikely to cause issues.
  • Drawing a fair and comprehensive lease to protect your interests as a landlord.
  • Lodging the bond with the relevant authority.
  • Handling repairs and maintenance with skilled, licensed tradespeople.
  • Paying insurances and outgoings on behalf of the landlords.
  • Keeping up-to-date with complex ever changing tenancy legislation.

When choosing a property management agency, you want it to be a long and successful association. Your chosen agency should have a dedicated property management department with experienced business owners who have an active involvement in the day-to-day business. This will help ensure you have a well-run investment that produces superior results.

After you have chosen your agency, you should establish a collaborative relationship and agree on your working parameters. Explain to your agency how involved you want to be in the ongoing management of your property. Make it clear what they are allowed to do without referring back to you, and when you do require them to contact you. This will avoid many of the misunderstandings that arise between Property Managers and Landlords.

When it comes to property management you should choose carefully, as
a smart and proactive property management agency can considerably increase the return from your investment property, while keeping it running smoothly.

For more information on our professional property management service, call our award-winning experts on 4628 7444.

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Good tenants are key to a successful investment property

Posted by thepropertypeoplecampbelltown 
· 25 October 2017 

Gaining good tenants is one of the key aspects of a successful investment. So how do you acquire “good tenants”?

Checking tenants’ references and doing the appropriate background checks are critical tasks to give you the best chance of a smooth running and successful investment.

Property Management professionals have access to specialised tenancy databases, and have the knowledge and experience to carefully look into applying tenants and thoroughly evaluate them. Property owners would be wise to choose an experienced Property Manager and agency team that focuses on gaining a quality tenant. A carefully selected tenant increases the likelihood of a steady and trouble-free investment.

Two of the most important background checks your Property Manager can do are previous rental history and employment record checks. This sounds fairly straight forward, but there are many traps for the inexperienced.

It comes down to finding out from the information gained if the applying tenants have an excellent track record from their past tenancies. That means paying their rent on time, looking a er the rental properties, and staying for a reasonable period of time. Also the current ability for the tenants to pay the rent is evaluated through information and proof from current employers.

Tenants who have a history of moving frequently are not ideal, as this will interrupt your cash flow while there is a changeover from one tenant to another. You’ll also want tenants with steady employment records and income, meaning they can comfortably pay the rent each week.

Owners who manage their property are o en not objective, and lack
the expertise and experience to look into applying tenants. One of the mistakes many property owners make is relying on personal references when investigating potential tenants. A bad personal reference rarely exists – friends and relatives won’t write or tell negative things about those close to them. Professional and background checks are absolutely essential.

Superior Property Management agencies have strict systems in place to ensure all applying tenants are closely scrutinised before accepted, and are intimately across the day-to-day management of their clients’ properties. They are focussed on:

  • Happy tenants that look after the property.
  • Maximum income from the investment property.
  • A well-maintained property.

This is one of the many reasons why is smart to employ a professional property management service to manage your property. Their service will save you a lot of time, money and stress in managing your investment.

This service may cost you a little more in the short-term, but this “forward-thinking” will potentially save you thousands. Plus your property management fees are tax deductible.

For more information about our property management service, call 4628 7444 and speak to our management team.

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