How to get the most out of your real estate professional- Part Two

Landlords:

Having a team of experts look after your property is always a good idea. It takes stress and worry out of the processes involved. We’ve put together a few ways to get more out of your rental team.

Whether you’ve had your rental managed for one year or 10 years, it is always good to provide feedback to your team. It might be something as simple as requesting a more detailed inspection report. Any feedback should always be welcomed by your management team.

Be willing to keep the property up to scratch. If your house has just become vacant after 5 years of tenancy, it might be due for a few touch ups. Maintaining small things such as painting walls and replacing curtains can make a big difference when it comes to finding a new tenant. When your property manager carries out the exit they might suggest a couple of things that would be worthwhile considering. If you are not 100% convinced it might benefit to have a look at the property with your agent.

Be prepared to meet market standards. In a town like Goondiwindi market conditions can vary depending on seasons and surrounding events. Your property manager will always ensure you are receiving the best income for your investment. If the market is strong, they may advise a bi-annual or annual rental increase. If the market is weaker, they may suggest to keep the rent amount stable to ensure the current tenant stays in your property.

You should always feel as though you can trust your property management team. By communicating and implementing these suggestions, it should allow you to do so.