Tip Two- Use Quality Paint- when a property needs to be painted never be tempted to cut costs by using cheap paint, especially for inside walls. Even the easiest of marks is difficult to wash off of cheap paint and the walls quickly begin to look unsightly. Instead purchase a low sheen wash and wear paint that can handle everyday living. Good tenants take pride so provide a way they can make sure they can keep walls, doors and woodwork looking tidy and clean.
Tip One- Low Maintenance Gardens- a lot of tenants either don’t like gardening or simply do not have the time to look after a garden. Therefore remove plants that might be considered high maintenance and in their place plant hardy native plants and shrubs that require little watering. Bark landscape garden beds and use plastic underlay to reduce weeds growing through. In some cases, small areas of lawn can be converted to gravel areas. Do what you can to provide grounds that need little upkeep to keep them looking good.
Introduction- Serious property investors purchase a property and make adjustments to make it more suited to everyday renting. Over the next few weeks we will reveal some top tips to make your next rental property more suited as a professional rental property and create an environment to withstand the rigours of renting.
Tip Four- Cheap Agents Means Poor Service- as the average property manager cannot possibly manage so many properties; a greater cycle of staff turnover is now the result. The landlord however, has long forgotten about the cheap fees they received is now frequently dissatisfied with the poor service they are receiving. They then decide that what they require is in fact an agent who focuses on their quality service to attract new landlords and are now happy to pay a bit extra knowing their property is now being professionally managed.
Mortgage holders were given a boost today when the Reserve Bank decided to keep interest rates on hold.
While the move is hardly a surprise, it will still be welcome news for people paying off a mortgage.
Tip Three- Cheap Agents Means Greater Staff Turnover- as the property manager is now overburdened with too many properties, they become stressed and burnout. This pressures them to hand in their resignation because of an environment that is unworkable. Again, the agents cheap fee policy has forced the department into this situation.
Tip Two- Cheap Agents Mean Property Managers Now Have to Manage More- as all agencies have similar running expenses and salaries to pay the cheap agent now has a real problem. Their staff must now manage more to make the same profit levels, creating a greater burden for that staff member. Too many properties become very difficult to properly service and because of low fee levels, this cannot be changed.
Tip One- Cheap Agents Attract New Business with Cheap fees- when an agent has no evidence or points of difference showing how well they can service a client, they revert to offering cheap fees in an attempt to get the business. Unfortunately the unaware client may not understand the different levels of service agents offer and are satisfied they have received a bargain, unaware of the problems to come.
Introduction- When landlords select a property manager, sometimes they have the wrong impression that service standards are the same in every agency. When they get offered really cheap rates, it seems like a bargain! In property management, the rule that ‘you get what you pay for’ is very true and in the next few weeks we will explore the reasons why hiring a cheap agent can be recipe for disaster!
Tip Four- Trust your Gut Feeling- though not a 100% foolproof method for tenant selection. Does the application information make sense? If you are left puzzled and have a big question mark about their application information, if things just do not add up then sometimes it is best not to take a chance and reject the application. Be satisfied that all information makes sense; all address history is accounted for before moving to grant them possession. It is easier to say no, than to take a risk and allow a bad tenant to dwell in your property!
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