Our property team are often asked by friends, family and first time investors; What should you look for when selecting a Property Manager? The teams response is always the same.
There are three fundamental points:
1. Work with the owner to develop an effective pricing strategy
2. Select quality tenants.
3. Provide frequent & valuable reports.
Detailed communication throughout the process is crucial. Understanding the goals of a potential landlord is our first priority. Are they looking for a long or short term tenant? Would they prefer singles, couples or families? How do they feel about pets? The list goes on.
Our property team always meet and interview all prospective tenants that match the brief discussed and agreed with the owner. They work to identify and owners goals and plans and review all potential tenants’ rental history and references for same.
At Ray White Erskineville we use an on-demand electronic system, to capture every aspect of the property and to issue monthly financial statements. Our system allows us to generate several reports at an owners request that detail open for inspection traffic when initially renting their property, ingoing inspections and period inspections that occur during the term of the lease, along with tenant feedback reports. Regular reporting helps reassure owners that their property is in safe hands and well looked after. These reports also provide valuable information when reviewing rents.
Our business is growing at 12% each month. That is approximately 375 new managements per annum. Our property management team focuses on achieving above average rental returns, vacancies rates of 1% and an average days to lease of between 7 – 14 days. We know that providing our clients with meaningful information and financial data is imperative when managing our client’s biggest assets.
If you are considering renting your property in the next few months, we would be delighted to share with you our experience in managing properties to ensure that your experience is a rewarding one.