So you're new to property investment..
Before you begin this journey, come on in and chat to us first...
Becoming a property investor can be challenging and rewarding. Below we have outlined the general responsibilities of your new role, as well as the advantages of enlisting Raine & Horne as your property manager, and benefiting from our '10 Point Tenant Selection Procedure' to Protect your Property and Increase your Income.
Peace of mind
So you’ve just invested in a new property. The last thing you want to do is lie awake at night worrying about it. We have the skills, knowledge and desire to look after your investment and ensure maximum returns for you.
The middle man
If you’re not used to dealing with tenants, you could soon find yourself in some sticky situations. Our Property Manager has experience in dealing directly with tenants as well as thorough knowledge of the Residential Tenancies Act. Should the need arise for a tribunal hearing, our Property Manager is skilled to represent you and ensure a positive and fair outcome.
The going rate
Setting the rental amount is an area where inexperience can see you losing out. Our Professional Property Manager will ensure a strategy of rental pricing aimed at securing the right tenant who can accommodate our recommended annual rent increases.
Some tenants have high expectations of what should be included in the rent for your property. Our Property Manager will give you the right advice on the level of security, fittings, and any improvements they think are necessary to meet the market expectations. Often general maintenance and simple improvements can greatly enhance your rental return.
Unless you happen to be a good judge of character, it’s sometimes hard to pick a good tenant from the bad. Our Property Manager has the experience to find suitable tenants for you through trusted screening processes.
Time to bond
Now that we’ve found the right tenants, we need to collect a rental bond. This will be no more than 4 weeks rent and must be deposited into a trust account. If you are satisfied that no undue damage has been done to the property then the bond should be returned to the tenant to the end of their tenancy.
Keeping the peace
In times of dispute, we can be invaluable. Confronting tenants can be awkward and stressful. Armed with thorough knowledge of the Residential Tenancies Act, our Property Manager can resolve the dispute quickly and with minimal stress to you.
Wear and tear
A little wear and tear is only natural, and property investors are responsible for the upkeep of their property (not the tenant). If you can keep on top of general maintenance you’ll certainly be doing yourself a favour in the long run. We have access to licenced, cost effective, skilled tradesmen and - under your request - will often prompt, organise, check and finalise any general maintenance your property requires.
For peace of mind, we recommend that you take out suitable property protection insurance. This may cover you against loss from normal fire and peril damage, malicious damage to your property, or in instances where tenants may fail to pay rent. We - as your agent, we can advise you of suitable questions to ask your insurance broker, to ensure the protection of your investment.
Property Investment Checklist
Choose the right Property Manager to manage your investment
Decide on a suitable rental amount
Decide on a form of payment (how often)
Check references and financial background of prospective tenants
Collect rental bond
Contact your Property Manager for a list of contacts in case of dispute
Contact your Property Manager for a list of reliable tradespeople
Take out property protection insurance