Quality Property Management – The Way to Increase Your ROI and Rental Income

May 24 2015 / 11:15 pm Was written by Atwell & Co. Comments Off
qualitypropertymanagement

Flickr image credit to (vincent desjardins)

 

Do you have an investment property or a portfolio of investment properties? If so, are you getting the best return on investment possible? How are your properties being managed and could you be missing out on creating more wealth and opportunity though a lack of quality property management? Or are you simply sick of the hassle of juggling your own property management, work commitments, family and life?!

Quality property management is the key to ensuring that your investment properties are going to work for you- creating wealth and financial stability now and in the future. If you’re wondering if there’s a better way for you to manage your investment property or portfolio, then consider our essential property management services and whether you are getting the best service and hence return on investment possible.

Quality property management- the essential services you should demand:

Does your current property management team or real estate agent perform the following duties?

  • Provide consistent monitoring and maintenance of your property to ensure it retains and builds it’s investment potential
  • Use a rigorous selection process to select reliable tenants that will respect and maintain your property to increase and maintain investment potential
  • Charge competitive or fair fees- the more you pay for your property management the more rental income is lost out of your back pocket!
  • Negotiate the increase of your rent by 5% to 9% over each12 month period
  • Provide you with regular and continued updates on your property – at a minimum they should inspect the property and provide you with a detailed report every 6 months
  • Provide you with thorough and accessible documentation
  • Find you tenants fast and reliably using great exposure and marketing techniques when your property is unoccupied
  • Prepare Tribunal Applications in the case of a dispute in accordance with the Residential Tenancy Act 1997

As you can see, there are a lot of services that property managers should and can offer landlords. However, not all real estate agents and property mangers takes their responsibilities seriously. Finding and establishing a good relationship with an expert property management team is essential to ensure you increase your return on investment from your property portfolio.

Whether you are a first time investor looking for a property manager or have an established portfolio and are looking for a new property manager, we suggest you take our above checklist and shop around. Ask the hard questions and only choose the property managers that can answer with confidence! Lead with the most important question- how can your property management team ensure that my investment property/properties will continually increase their return on investment?

Atwell & Co Real Estate
Unit 6 / 29-30 Grattan Street Prahran, Victoria 3181
Phone: (03) 9510 6203 URL of Map