Leasing Category

SAVING FOR A HOUSE DEPOSIT

Whether you are wanting to break out of the rent cycle or you are ready to move out of home into your very own place, saving for a house deposit can seem overwhelming and never-ending. But rest assured, there is a light at the end of the tunnel, you just have to stick it out for a while. Here are a few things you can implement to help to save for your first deposit a little bit easier. Whether you are looking to buy in the next 6 months or the next 6 years, we are sure at least one of these tips will be beneficial. GENERAL SAVING TIPS Tackle your Spendings First The very first thing you want to do is go through your monthly budget and look at… Read More »

THREE STRIKES AND YOU ARE OUT

Why Landlord’s leave a Property Management Company Just like a baseball and softball game, the general rule of thumb with Landlord’s is three strikes and you are out and a new agency comes in. As an investor myself I’ve used this rule of thumb to move onto a new agency, in fact, anything to do with customer service is generally a three mistake rule. Everyone is entitled to make a mistake every now and then, we are all human of course, but as the errors build up what happens is we lose trust and without trust what do we have? Trust is especially essential in property management, mainly considering we are dealing with people’s largest assets; they need to be able to rely on and trust that we have their… Read More »

Property manager in Ipswich managing residential property for client

HOW MANY PROPERTIES CAN A PROPERTY MANAGER MANAGE?

This is the million dollar question in our industry! There are so many different structures now in modern property management businesses there is no longer a magic number. Once upon a time it was between 100 to 150 for a portfolio based property manager doing everything from start to finish. Now with technology advances, virtual assistants and task based specialty roles in place, there is room to move with the ratio of the number of properties to property managers.   There are so many variables to be taken into consideration when deciding this golden number. For example, how close are the properties to the office, type of properties, calibre of tenants, clients that own the property, experience of property manager and systems in the business to name a few. Profitability also plays a huge factor in determining the staff ratios. Employ too many staff… Read More »

BEST PRACTICE VS. LEGISLATION

One affliction many agencies and property managers suffer is a blurring of the line between what is legislation and what is company best practice. It is essential to clarify this area if you are preparing for a case at QCAT (Queensland Civil and Administrative Tribunal), because what you often think is the right thing, can invariably be simply best practice, or alternatively when you realise you haven’t followed best practice, but it might still be within the realms of what the legislation requires. Sounds confusing, doesn’t it! It actually is, the longer you work in property management or the more agencies you work for, the line between what is actually legislation and what is simply the companies policy or procedure becomes more difficult to determine. It’s not like we keep… Read More »

TOP 5 REASONS PROPERTY MANAGERS BURN OUT

If you had to make a list of the worst jobs you’d like to do, property management would have to be right up there. I mean it is really one of the most thankless jobs, no one ever calls up and says thank you for renting that house to me, thank you for collecting my rent and sorting out my maintenance. No, it is more likely a negative call that forces people to pick up the phone and speak to their property manager. My oven isn’t working, my rent can’t be paid this week, why wasn’t my rent paid this week, why did you fix that leak without my approval, and so the list goes on, day in and day out. Nine out of ten calls are troubleshooting issues, disputes,… Read More »

AN INVESTORS GUIDE TO RENOVATING THEIR RENTAL PROPERTY

The longer you hold an investment property for the more likely you will at some stage need to undertake some renovations and major repairs. Properties eventually just get tired and run down no matter how well tenants look after them. Floors get damaged, kitchens and bathrooms get dated, gardens die off and fences rot. If your property is in another state or country liaising with your management company to undertake the renovations on your behalf can take a lot of the stress and hassle out of it for you. In fact, a good agency will bring any renovations required to your attention and offer to project manage on your behalf for a small extra fee. Every time a property becomes vacant is a good time to assess what work is… Read More »

SHOULD YOU USE A BUDGET AGENCY?

Why Cheap isn’t alway’s Cheerful when Selling your Home or in Property Management Yes, the point of having a property whether you live in it or whether it is an investment is to make money, and whether your strategy is long term or short term, make no mistakes you need to have your figures worked out. When it comes to your biggest asset, is it really is time to be skimping on costs and penny-pinching? Like every other industry when it comes to real estate you really do get what you pay for. Let’s take the recent example of a so-called disrupter to the real estate sales industry, who have recently left the market with their tail between their legs. They came into the market offering low commissions and no… Read More »

HOW TO PUT TOGETHER A WINNING RENTAL APPLICATION

Renting can get somewhat competitive and in some instances, you may find yourself up against 20+ other applicants vying for the same property. If this is the case, you can’t afford to be negligent with your application as it may just cost you your dream rental. Here are our top tips you should follow to ensure you have an outstanding rental application. Make Sure You Have All the Correct Documentation After attending the inspection and you have had a chat with the agent, you should know what you are required to provide with your application. Most agencies will require references, application forms, proof of employment and 100 points of identification. To really set yourself apart from the competition have all this documentation organised, copied and ready to hand to the… Read More »

HOW TO CHOOSE A REAL ESTATE AGENCY

Now let’s think about this, your property whether it’s your investment property or your beloved family home, is your biggest asset, so choosing a real estate agency to either sell or rent it shouldn’t be taken lightly. Once upon a time, it was a no brainer, there were a few big names in the industry and you pretty much chose the one with the most signs up in your area. Those days are long gone, with the progression of technology-independent and smaller brands are now able to compete on the same scale as the larger agencies. This is great for these boutique agencies, but it makes your job of selecting someone to deal with your biggest asset even more challenging and important than ever.Now there are more agencies than ever… Read More »

TOP CUSTOMER SERVICE TIPS IN PROPERTY MANAGEMENT

Is your Property Manager giving you the service you desire? Let’s face it Real Estate is a pretty transparent industry. All Real Estate businesses are governed by the same laws and codes of conduct and we all have access to the same technology, so how do we stand out from the crowd in such a competitive industry? It’s pretty simple really, customer service. From retail to hospitality to online businesses and real estate, the key to success hinges on your customers and how satisfied they are with the service you provide. Especially now with the growth in online review services such as Yelp, Google and Trip Advisor, it has never been more important to keep your clients happy. The savvy consumer will conduct thorough research on you and your business… Read More »

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