Tuesday, September 4th, 2018
When it comes to building wealth for a secure future, investing in property has always been a popular choice for many Australians. Applying for a home loan for the purpose of investing in property is a big commitment and to help protect your valuable property asset, finding the right team of real estate professionals to manage your investment property is essential for a stress-free landlord experience.
As a long-term investment, property ownership has many potential benefits, including tax advantages. To help you experienced the pleasure of having a well-managed rental property, try these practical tips to help you choose the best possible property manager to look after your needs.
Recommendations from friends or colleagues is a sensible place to start when searching for a perfect property manager. If you know people who own investment properties, talk to them about their personal experiences with their own property management team and arrange a meeting so you can connect with the referred person and make your own decision based on the things that are important to you.
Choosing someone to manage your rental property is a very important decision and doing your homework is critical. Referrals from other property owners in your area can also offer useful insights.
Ask questions about how quickly complaints/repair issues are resolved and how accessible the property manager is. Checking online business reviews can also be a smart way to investigate.
Great property managers aim to get as many people through rental properties as possible at inspection times, in order to help find the ideal tenant. By looking at the way they promote their current crop of rental properties, you can see whether their ads are professionally presented and compelling.
Are the properties they typically look after clean and well-cared for? Or do they mainly deal with lower-end properties that may not attract the types of tenant your property deserves? As with any decision to work with someone professionally, research is always important.
Once you have a shortlist of property managers you’re interested in connecting with, here are some questions that are good to ask them:
If you are planning to build a property portfolio, it makes sense to have a professional property manager take care of it for you. Once your mortgage application is approved and you find the ideal property to purchase, your next step should be to connect with a property management team you can trust, so make sure you make time to take the hunt for a professional property manager seriously to help you enjoy your new life as a landlord without the hassle.
For more information about borrowing money for an investment property, or refinancing your current mortgage to buy more property, talk to one of our home loan specialists at Loans Actually