While many investors spend a large amount of time and effort carefully researching the property markets and then finding the top investment, they ignore the role that a professional Gold Coast property manager can play in preserving their Gold Coast Investment property’s capital value and maximizing its income.
With the Gold Coast Rental property market growing strongly and no shortage of tenants, many beginning landlords fail to ignore the relationship with their Gold Coast property manager as an ongoing business partnership. Too many landlords choose their property manager on fees alone.
Others think they don’t need a property manager at all and can do it themselves.
This is possibly because they don’t understand that property management is much more than just collecting rents.
To manage your property to minimise vacancies and maximise your returns requires:
- Industry specific skills and knowledge such as knowing how to market your property effectively to get it exposed to the maximum number of tenants.
- Setting the rent at an appropriate market level to ensure quick leasing, the choice of a variety of good tenants and at the same time maximise the returns in these days of rising rents.
- Checking potential tenant’s references to ensure you have a reliable tenant who is unlikely to cause troubles.
- Drawing a fair and comprehensive lease to protect your interests as a landlord.
- Lodging the bond with the relevant authority.
- Have a well managed maintenance program
- Paying insurances and outgoings on behalf of the landlords who will work at fair prices.
- Keeping up to date with complex ever changing tenancy legislation.
Because the relationship with your Gold Coast property manager will be a long and ongoing one, let’s look at how to select a top professional.
First, draw a list of potential property managers.
With new technology many property managers have centralised their services, so it’s not essential to appoint a managing agent whose office is in the same suburb as your investment property. It is important however to find someone who has the experience in the property market that your particular property is located in.
Arrange to meet the short list of property managers at their offices as this gives you a great opportunity to observe them on their home turf. It will help you decide if you feel comfortable working with them and should allow you to gauge their level of professionalism.
When you meet potential property managers, clarify which services are included in their proposal and ask some specific questions – for example, check how they handle arrears, routine inspections and rent reviews.
Use a specialist property management company to get the results you want. At Sutherlands we can help you reap the rewards of owning an Gold Coast investment property: a well maintained property, quality tenants and a solid return on investment.
Make a positive change for your Gold Coast investment property contact Sutherlands Property Management today 07 5535 8857