With the real estate market continuing to deliver excellent returns for people who own investment properties, it has never been more important to secure an experienced property manager to maximise those returns. There are many agencies advertising their skills at property management and promising all kinds of service delivery standards, but how do you know if you are placing your valuable assets in the right hands?
How to Separate the Exceptional from the Barely Adequate
The key to getting the best returns is to set your rental rates to find that delicate balance between maintaining a low vacancy rate and getting the highest income the market in your area will bear. At Prudential Real Estate Sydney, we use market research to be certain of rental trends in the suburbs where we are managing properties. When we provide an owner with rental rates, we can back up what we say with hard evidence.
As experienced property managers in Sydney, we know how important marketing and advertising is to securing good tenants. We know exactly where to market our properties and how to create eye-catching ads and photographs that will draw in our target renters. This ensures that your properties will not sit vacant for long.
There is no point in getting a tenant for a property unless they are reliable and have a good reputation as a tenant in other properties. Experienced property managers know this and would not think of recommending a tenant unless they have performed background checks, verified references and checked with employers so they can assess the capacity of the tenant to pay the rent.
Experienced Property Managers Keep the Rent Coming In
Chasing tenants for rental arrears can be avoided by having a direct debit system in place that electronically transfers the rent directly from tenants’ bank accounts to the agency in pre-agreed timeframes. Experienced property managers also know this, and make sure they include this proviso in their rental agreements.
At Prudential Real Estate, our Sydney property managers prepare Residential Tenancy Agreements, condition reports and banking documentation, then make an appointment for the tenant to attend our office. During this interview we explain what the documents mean so there are no misunderstandings or confusion.
Regular Inspections Protect Client Properties from Damage
Within 90 days of commencement of the tenancy, we arrange an additional inspection of the property to ensure that the tenant is upholding their responsibilities. We follow up with regular inspections as required by our clients to minimise any incidents of property damage and to protect our client properties.
There is a lot at stake for property owners when placing total strangers into their rental properties if they are to get the returns they expect on the money they have invested. Only a property manager with extensive experience can provide the knowledge and service levels to maximise this investment return.