When was the last time you compared the services of your current property manager against other agencies? Real-estate is a fast-moving industry. To ensure you are receiving the very best return on your investment, it’s important to stay ahead of the game. This means shopping around and making sure your property manager is offering you the best services to save you time and money.
Here are three key services you should be receiving:
1. Advice on how to get a better return on your investment
When was the last time you had a meeting with your property manager? Often the relationship can feel one-sided, and you only hear from your property manager when there’s a problem. The advantage of selecting an expert property management company is they can offer a personalised service and work with you to find your ideal tenant. It’s really important to have a strong relationship with your property manager so they understand your needs and advise how to get the best return on your investment.
When you first met with your property manager, did they discuss the difference between short and long-term rental strategies with you? Depending on your property, long-term leasing might not be the best proposition. Short-term leasing through companies such as Accommodate Canberra can yield a higher return for your property, an option your property manager should explore with you.
2. Streamlining tenant processes
Most investors lead busy lives and need their property to look after itself. This is where streamlining the rental process, whilst still being able to access information quickly and easily for your tax return is paramount. What system does your current property manager use? Applications such as Propertyplus simplify the communication process between landlords, property managers, and tenants. Propertyplus can be accessed online 24/7 to give you a snapshot of your property, so you can see:
This is ideal for landlords who live interstate or overseas. For example, an inspection can be made on the property and the landlord has access to a detailed report with accompanying images. This information is saved and can be referenced for future inspections.
3. Facilitating instant payments
The other advantage of using a platform like Propertyplus is it can enable instant rental payments from tenant to landlord. Landlords no longer have to wait for payments to be processed through traditional accounts channels (which can delay their rental income by weeks). Tenants also love using this system, as they can align their salary payment and rental direct debit dates, which greatly reduces risk of arrears.
Technology in the real-estate industry is constantly changing, so it pays to keep an eye on what services other property managers are offering. Whilst property management rates are an important consideration, taking a closer look at the overall services your property management company offer can save you time and money.
Does your property manager ensure your rent is paid in real time?
Maloney’s rent arrears figure is one of the lowest in Australia at less than 1 percent! Speak to one of our team and they can show you how much easier, and more profitable your investment could be.