You’ve found a great property that you’ve secured under market value, one that shows all the fundamentals for delivering sustainable growth over time, offers upsides for renovation or development potential, and on paper, should deliver a healthy yield.
But you can’t find someone to rent it…. We hear it all the time on the Smart Property Investment Show.
So, what do you do? Well, it’s time to look at how you’re managing the property – and whether you might need some professional help.
Self-management works for many property investors. If you’ve got the time, skills, aptitude and are geographically close (and willing to get calls in the middle of the night to fix a broken pipe!), you can manage your properties yourself – for very good effect.
However, many property investors turn to property managers to support them – supporting all aspects of their property management in return for sharing some of rent, which can range from 4-15 percent, depending on where you are located across Australia, and the services offered.
Whether you choose self-management or to use the experts, you need to be informed, educated and proactive to ensure you maximise your yield potential, reduce stress through untenanted properties and create the best performing portfolio you can.
In this episode of the Smart Property Investment Show, host Phil Tarrant is joined by Thom Richards and Nick Bouris from Managed, who reveal all the best tools, tactics and tips to manage your properties – and make the most of your investment.
As well as sharing the way they are transforming property management – using smart tech coupled with a focus on asset management to deliver better outcomes for tenants and landlords – tune in to get the inside word on:
- Finding and keeping good tenants
- Smart tips for rewarding tenant loyalty and boosting goodwill
- Understanding what fair wear and tear is – and how not to sweat the small stuff
- Insights on rental markets in key areas
- Smart ways to approach the often-awkward issue of increasing, or even decreasing, rents – and how to keep tenants onside, happy and engaged
- Why you should be proactive when it comes to maintenance and how to keep maintenance costs down
- Key insights into adding value to tenants through new fixtures, fittings or amenities, and how that may impact your tax position.
All this and a whole lot more on this issue of the Smart Property Investment Show.