It’s easy for investors to focus on direct, quantifiable costs that are within their control. However, it’s often indirect costs that have the greatest impact on an owner’s overall return. A great property manager focuses on reducing these costs.
Investors regularly underestimate the impact of vacancy on their portfolio, particularly in markets that are relatively oversupplied. Consider that in Sydney and Melbourne, according to Domain the average vacancy costs investors over $3,000 in foregone rent. Brisbane is the standout market on the east coast for low vacancy rates and strong rental demand.
We work incredibly hard to ensure your property is rent generating for as close to 365 days a year as possible. Here’s how we do it.
- We find you great tenants and then keep them
The best way a property manager can reduce the time your property is vacant is by finding great tenants in the first place that indicate they want to stay for the long-term. Once the tenants are in place, we deliver a first-class property management experience that gives them every reason to stay.
Easily the most cost-effective your property manager can reduce vacancy is by keeping your existing tenants happy. Our different property management approach ensures your tenants have every incentive to stay in the property they call home.
- We respond to maintenance requests quickly
When a tenant submits a maintenance request, we spring into action. We assess the request, provide a recommendation to you as to how it should be actioned, and then once we have your approval to proceed, we assign the job to one of our trusted trades (or yours if you have them).
One of the most often cited reasons landlords switch property managers is they’ve had their tenants express their dissatisfaction at reasonable maintenance requests going unanswered. Our property managers take tenant satisfaction incredibly seriously.
- We offer lease renewals in advance
Tenants want to know that they can renew their lease at the end of the term. In the last few months of a lease, your tenants naturally start to consider their options. A great property manager offers a lease renewal with plenty of advance notice. In our case, we reach out to tenants 60 – 70 days prior to their lease expiry.
When offering a lease renewal, it’s a careful balancing act between wanting to maintain a great tenant whilst also achieving the maximum possible rent for you as an investor. That’s why we take a data driven approach. By using independent and respected sources of data as the starting point to determine rent increases, tenants understand that any increase is indeed fair and in line with the current market.
- We price your property appropriately
When it comes to your property being on the market the asking rent is a critical determining factor that directly influences the level of interest for your property. This is particularly the case in greenfield suburbs where there is lots of supply that is relatively similar.
Marketing slightly above the median can result in a huge reduction in interest in your property. We provide honest feedback regarding market conditions because the goal is to achieve the highest rent overall, rather than simply the highest asking rent.
- We utilise platinum advertising
In our experience, platinum advertising is an investment that almost always pays for itself. Platinum ads on the major portals receive between six and nine times as many views as standard listings.
Whereas other property managers listing properties start on page 10 with standard advertising, we start at the top of page one. In many instances, if your property is vacant for just one or two days less, the additional cost has been covered making it a sound investment.
- We pay the rent when your property is vacant
We are proud to offer Australia’s most comprehensive rent guarantee. We call it Rent Certainty. We are the only property manager to offer a rent guarantee whereby we:
- Pay the rent when your property is vacant
- Pay the rent when your tenant is in arrears
- Top up rents when they fall
We also pass-through rent increases so you always receive market rent or better. You can imagine how seriously we take minimising vacancies when we are paying the rent ourselves.
If you would like to have a different property management experience, we would love to show you just how great property management can be. Please leave your details here and a member of our team will be in touch before close of business today.
