When leasing out an investment property the tenancy agreement should, at all times, have the names and signatures of the tenants on it. People move.  We know that is a fact, and young people seem to move more than average because of new relationships, relationships that have gone sour or they have decided to chase the sun and move interstate, or one of a host of other reasons. But there is one fact that many landlords do not take intoRead More

Purchasing an investment property is a very big step towards becoming financially independent.  Most investors will feel relatively comfortable with owning another residential property, but the letting of a property is another matter altogether. When it comes to the letting of a property all sorts of problems can be arise, but most of them arise through incompetent property management. Finding the right tenants is a large part of having a rental let that goes smoothly.   What many investors doRead More

Tenants pay a lot of their income out in rent each year and if they feel that they are being neglected when they have problems this can in turn cause them to neglect the property they live in.  This may be conscious decision or even a sub-conscious decision formulated by the fact that the owner does not care enough about the property condition. Conduct an annual customer service satisfaction survey of the tenants. You could easily do this yourself orRead More

Your property manager is in effect managing your investment.  Don’t let them forget that they are in charge of thousands of dollars of your money!  It may be just a job to them but you have worked hard to own your properties so make sure they treat that responsibility with respect. 1.  Finding the right property manager for your property by treating it as an interview with your own list of questions. Contracting a property manager is the same asRead More

Some Pros and Cons Of Financially Self-Managing Investment Properties There has to be a little generalisation, but you will get the point. Taking the cost of contracting a property management team to look after an investment property you are looking at paying around about 7% – 8.5% on income. There will be times when nothing is happening except collecting of the rent, but there will be other times when a lot of time is involved in organising repairs, chasing rent,Read More

Property management can be quite easy when all is going well but every now and then the state or local governments decide to change their laws and before you know it, more money needs to be spent on the property. Sometimes the upgrades have to be done within a certain time frame or if the property is on sold. For example at the moment two that stand out are: the digital reception for TV’s and pool fencing laws. If youRead More

Many property owners would agree that finding the right investment property that fits their criteria is like striking gold. As investors we only want to work with property managers who appreciate the immense responsibility entrusted to them as they manage our valuable assets and display evidence that our properties are in good hands under their management.  With this in mind we have put together a handy list of suggestions to ensure you get good outcomes from your property manager. 1. MakeRead More