Why should you employ a Property Manager? Experienced Property Managers will see to tenant applications, maintenance issues, legislative requirements, and many other responsibilities which means you won’t have to stress about yourself.
For first-time property investors, one of the big questions to ask is what type of property will you invest in? The answer depends on your own investment goals and strategies. Consult with your Property Manager on vacancy rates, demand and supply, rent prices and other factors.
If you have just successfully acquired your first investment property, you’re probably already thinking of making renovations or ways to secure a tenant. However, before you get ahead of yourself, there are some important steps you will want to take.
Smoke alarms can be the most important device in residential fire safety. Not meeting all smoke alarm compliance requirements is not only against the legislation it can have serious consequences for Landlords, Property Managers and Tenants.
If your rental property is an apartment unit or a townhouse, then it typically forms part of a community title scheme. Your property is part of a complex of common property such as foyer, pool, gymnasium, lifts and driveways.
Neighbouring homes have the potential to get into disputes regarding trees and dividing fences. The issue with trees is they can potentially cause injury, damage to property and inconvenience especially when falling leaves scatter around the neighbouring property. Meanwhile, a dividing fence can get in the way of a neigbour’s construction and maintenance.
Towards the end of every financial year, Landlords and property investors should review certain items to check how their investments are performing and how they can further their goals.
One way to get a good idea of your potential Tenant’s backgrounds is to interview their list of references. This includes their employers, previous Landlords and personal references.
As Landlord or Property Manager, you’re bound to come into situations involving conflict at some point. In these situations, it’s important to be the mediating party and ensure an outcome all parties are comfortable with.
Investing in property is an exciting endeavor, but it can also be daunting, particularly if you’re planning to lease that investment property.. As with all major decisions, ask yourself important questions to guide you towards the result best for you and your investment goals.
