- June 06, 2020
You’re concerned about getting the highest possible yield from your investment, and rightly so. But where do you start?
The completion of the project you have purchased into is expected soon, so there is no better time than the present to start thinking about the leasing and management of your investment property.
You’re concerned about getting the highest possible yield from your investment, and rightly so. But where do you start? Typically, there are two routes to follow – managing the property yourself or hiring a property manager. One takes time and creates stress, the other saves you both those things.
Managing your own property might seem cost-effective, but remember you’ll need to do everything yourself, including setting the right rental rate, marketing and advertising your property, finding high-quality but cost-effective vendors, dealing with your tenants face-to-face, and chasing late payments. And this is before we get into the more technical tasks requiring an understanding of industry trends, rules, and regulations. It’s almost a full-time job!
Unless this is the full-time role you’re searching for, typically this isn’t practical. With this in mind, here are a few critical reasons to hire a professional property manager:
- Achieving the perfect balance between maximising your monthly income and maintaining a low vacancy rate means conducting a thorough market study of your property, your suburb, and its surroundings, to set an appropriate rental price for your property. The rental market is constantly evolving, so setting a rate in line with market trends and expectations is key — and no matter how apt you are at research, a property manager will always be able to be more thorough, because it is not just one person, it’s an entire team.
- Besides finding the best tenants for your property, property managers will manage all aspects of the tenant-landlord relationship. This means less of the things you don’t want, such as answering tenants at odd hours of the day, time zone struggles, inspections, and management of payments, and more of the things you do want, like relaxation and family time.
- Property managers often have long-standing professional partnerships with other quality service providers, such as repairmen, cleaners, plumbers, landscapers, and more, to ensure the efficiency of fulfilling tenant requests is optimal and punctual.
- Most importantly, investing in an international location, or even your home town, requires a keen knowledge and understanding of industry and government regulations surrounding tenant-landlord responsibilities. When you hire a property manager, a whole team with strong industry knowledge is working in the background for you, reducing your risk of violating any regulations down to zero.
Typically, there are two routes to follow – managing the property yourself or hiring a property manager. One takes time and creates stress, the other saves you both those things.
At Smartkey Property, we offer full-service settlement solutions to purchasers across Australia, New Zealand, Asia, the United Kingdom, and the United States.
The Smartkey team has a network of well-established professional relationships in the real estate industry, as well as private mortgage lenders, insurers, taxation and accounting firms. Having worked with many Australian and international developers, agencies, and purchasers settling projects ranging from high and medium density apartments, townhouses and house and land, our team are the experts in our fields.
Our aim is to provide tailored products and services to all purchasers. We have a dedicated team allocated to each project immediately upon engagement, and all our staff are multilingual and have experience working with purchasers in English, Mandarin, and Cantonese.
It is our priority to assist and deliver an exceptional customer experience from the beginning to ensure your property is best managed to help you attain the highest possible. We do this by building long term relationships, trust and confidence with both developers and purchasers.
What can Smartkey do for you?
Smartkey has partnered with experienced local property management agencies to look after the management and leasing of your property. Our partnerships have made us, and our offerings, stronger. We learn, adapt, and evolve as a result of working with the industry’s best, meaning property management industry best-practices are passed directly to you.
The range of services our partners offer covers all aspect of property management, including;
- Our Property Management partners offer service to both attend pre-settlement inspections on your behalf before its final completion, or to help you arrange a professional inspector to inspect your property.
Marketing & Tenancy:
- Not only do our property managers understand property marketing back to front, but they also have access to a wide range of marketing resources, databases, and referral networks to secure a preferred tenant for you in the shortest possible time.
- Furthermore, they employ some of the industry’s most rigorous tenancy selection processes to ensure you get the best possible tenant for your investment, thereby minimising risk and maximising return.
Hassle-Free Management and Maintenance:
- Our Property Management partners can co-ordinate ‘open for inspection’ dates and private viewings, prepare all lease documentation, negotiate rental agreements, manage tenant liaison, prepare detailed condition reports, and arrange direct debit systems.
- As part of this service offering, they also deliver complete lease maintenance recommendations for your property proactively based upon regular documented inspections. All preventative maintenance and repairs required are managed by the property managers.
Tax, Payments, and Paperwork:
- To simplify tax preparation and your personal accounting requirements, our Property Management partners can prepare financial statements both monthly and annually. They will handle approval, payments, and receipting of all bills associated with the management of your property according to your personal requirements.
- Our Property Management partners offer services in Victoria, New South Wales, and Queensland and we are committed to making your investment a success.
What Are Your Next Steps?
It is common for many investors to dismiss the notion of professional property managers. But not only can working with one save you from the stress and headaches that come with managing your own property, but a good property manager can directly improve the return on your investment.
Do you know what your property’s true market value is? Email us today for a free rent appraisal with our expert Property Managers! You can get in contact with us at settlementsau@