13 Feb Common Questions from Landlords (Part 1)
Congratulations on purchasing an Investment Property!
As a landlord (most likely with a mortgage) you are likely to be extremely eager to secure a tenant and start bringing in some rental income. You may have a number of questions you want answered on this new journey so we have put together this 2 part blog post on important questions landlords should be asking themselves and a prospective Property Manager.
1 Should my Investment Property be Professionally Managed?
Many people think they can successfully manage their own investment property.
Our experience shows that these people generally end up having many sleepless nights worrying about their investment – rental agreements, the quality of the tenants they have selected and of course emergency maintenance issues just to name a few!
Professional investors recommend that people (especially first time landlords) get their properties professionally managed, for a myriad of reasons. these include: Peace of mind, knowing that your interests are being looked after at all times and making your investment work for you (not the other way around!)
2 What Should I Look for in a Property Manager?
Industry Experience & Local Presence
Your Property Manager should have more than just ‘adequate’ training and experience. Your Property Manager should know the ‘in’s and out’s’ of the industry from many years of experience.
In addition, an in-depth knowledge of the location of your investment property is vital to getting you the best income (rent) possible for your investment.
Also – if you are also a Property Asset Planning client, you have the full team accessible in the same location. This means that if you are within the warranty periods for your brand new investment property, we have direct access to liaise with the builders to achieve prompt attention to any issues that may arise.
3 How Do I Secure GREAT Tenants?
The best way to ensure you get good tenants is to have a systematic and thorough review process when you have first advertise your property.
Database, Credit and Reference checks all form part of the process with Property Asset Property Management.
Our experienced team knows how to prevent advertising to certain tenants and how to maximise the property exposure to your ideal tenants who will not only provide you with a regular income, but will maintain your property in a clean and presentable manner.
4 Who Makes Sure my Property is Looked After?
An Investment Property is generally one of your biggest purchases….nobody wants to think of their investment of not being properly looked after.
Property Asset Property Management insists on regular inspections of your investment.
A thorough and detailed account of the property is taken before, during and after a tenancy. We provide you with reports which incorporate photographs – thus recording the presentation of the property for your records.