02 Apr 13
People with investment properties need to be getting a reasonable return on their investments and to have the risks involved in holding assets, like property, mitigated by sound management. There are many real estate agencies that offer both property management services and sales, and this can be a good mix for the property investor. Often, the property managers are able to source excellent tenants when the agency sells a home and the people moving out need temporary accommodation. The agency knows through their dealings with the clients during the sale process that they are reputable and reliable.
Self Managing Rental Properties a High Risk Proposition
All Residential Real Estate has been able to place good tenants in rental properties in the past through this process, but they also have very strict criteria they follow if the prospective tenant is not known to them. Having these types of checks and balances in place is part of the risk mitigating process they offer their investors when they sign their properties over to be professionally managed. There is a lot that can go wrong when investors try to self-manage their properties and the losses they suffer are certainly not what they had expected when they placed the tenants in their dwellings.
To get maximum return on the investment, the property must consistently have a low vacancy rate and high quality tenants. All Residential Real Estate use the internet extensively as part of their high quality marketing campaigns to source good tenants and have them pre-qualified before they are entered into their database. They are also very active in finding rentals to keep a good stock of properties, which in itself, attracts high quality tenants who also do their initial searching through the internet.
An important part of property management is keeping in regular contact with the tenants, and conducting physical inspections to make sure the dwelling is being looked after. All Residential Real Estate have systems and processes in place to make sure inspections are scheduled and conducted, and any issues identified during the inspection are followed up. This is peace of mind for the investors as they know there is no ongoing neglect, and any damage accidentally done by the tenant is being repaired before further deterioration takes place.
Service Level Training a Key Focus
Property managers trained by All Residential Real Estate provide a high standard of service to both the property owners and the tenants. The owners are provided with regular reports about their property, and the general state of the property market in the area. When tenants' concerns are addressed promptly they appreciate being kept informed and will stay with an agency that treats them well. This helps both the property investors who consistently get high quality tenants and the tenants who may have had to move around in the past to find the best mix of housing quality and agency service for them.
Investors looking for a property management company should always focus on the level of service they receive, rather than the cost. An unoccupied or badly damaged property is not in their best interests. If they have a property in the Wollongong area that needs professional management, go to www.realestatewollongongnsw.com.au for more information about their service.