With the economy and property market in full swing, Australia’s landlords will be flat out making up for lost time.
While more property investors are choosing to manage their own rentals, the majority of Australia’s 2 million landlords will continue to collaborate with a property manager, especially as work and family life responsibilities return to normal. Let’s face it, who has time to organise a plumber to fix a leaky tap or negotiate a longer lease with a tenant.
There is a simple explanation why most landlords stick with a property manager. It’s because finding ways to maximise your rental returns can be tricky, whether you’re a first-time or experienced landlord.
Fortunately, you don’t have to figure out the complexities on your own. An experienced property manager, such as Raine & Horne, can assist you maximise the returns from your investment property.
Sound market advice
As an investor, it’s easy to overestimate or underestimate rental income expectations without first-hand market knowledge. These rookie errors can leave you out of pocket or, worse, a vacant investment property. An experienced Raine & Horne property manager knows the local area and can provide an independent market appraisal. This gives you an honest rental estimate based on current market conditions.
A property manager also offers sound advice about what tenants in your patch are looking for, whether it’s air conditioners, dishwashers or floorboards rather than carpets. Or it might be that pet-friendly rentals are in demand. This type of intelligence can fetch you a higher rental income.
Finding and vetting tenants
Choosing a suitable tenant is vital for any landlord. Poor tenants could cause damage or fail to cough up the rent. An experienced property manager uses sophisticated technologies to run tenant background, financial and employment checks. You’ll also benefit from a detailed tenant screening process where only the best candidates are shortlisted.
Retaining reliable tenants is just as essential for investment returns. Usually, dependable tenants leave when landlords delay repairs or don’t address grievances sufficiently. Your property manager offers professional tenant selection and retention advice to ensure the best occupancy rates possible.
If your property does fall vacant, a valuable property manager ensures that it’s visually appealing for inspections. A manager will examine the property ahead of an inspection and help with some final touches, whether it’s burning some scented candles and switching on all lights.
Moreover, prospective tenants might prefer to view properties during working hours. This time demand can put a DIY landlord in a tough position. However, a property manager will make time for these requests as part of his or her job. This helps you access the best tenants in the least possible time.
Expert property managers undertake regular inspections to ensure that your property is in ship-shape order.
When it comes to repairs, a helpful property manager will assist by providing you with trusted tradesmen at competitive prices. Ultimately, your property manager will even advise you about repairs and improvements that could help you to earn more rent, whether it’s a coat of paint, an air conditioner or a dishwasher.
Professional marketing services
A knowledgeable property manager will be a marketing whiz able to attract more quality tenants using a range of tools. This includes Raine & Horne’s industry-first social media platform Amplify, which puts the landlord’s investment properties in front of more potential tenants than any other marketing channel. Using artificial intelligence, Amplify utilises Facebook, Google and Instagram to match rental properties and tenants.
Expert property managers are also adept at utilising website advertising, database marketing, and premium listings on portals. They will have strong databases based on their long-standing market experience and knowledge of what tenants want. They can also adopt professional photography and cut-through ad copy to show a rental property in its best light.
Reliable expert support
Whether your investment property is in Darwin, Adelaide or Hobart, tenancy legislation is a moveable feast. So, commissioning a property manager who is across the legislative changes in you state and territory will enable you to sleep easily at night.
With so much involved in managing a rental property and dealing with tenants, it’s helpful to have a specialist property manager such as Raine & Horne in your corner.