After working in sales for just two years, I was fairly certain I had seen it all!
But rest assured, my recent change into Leasing Officer has also provided its fair share of surprises both pleasant and not.
As a landlord myself, I can appreciate the importance of regular communication with my property manager. I want to ensure my property is leased without extended vacancy, that repairs and maintenance are completed on time and on budget and that my investment is achieving the best possible return on in the current market.
That said, I can offer landlords the following advice when trying to let their property:
It pays dividends to ensure the yard is clean and tidy, lawn mowed and trees pruned. This is just as important as inside the house because you are setting the tone for the type of person you are attracting to rent the house. A clean, fresh smelling interior reconfirms the exterior presentation so invest in air fresheners or a repaint if required to achieve a better quality tenant.
Repairs & Maintenance
I also understand that cash flow for rentals has been hard this last few years, but it is imperative that preventative maintenance and repairs are completed on a home to minimise future risk of costly expenses and additional damages. We have seen properties with extensive water damage on their ceilings and walls due to overgrown trees compromising roofing and gutters yet if they were maintained, the whole situation could have been avoided. Badly patched walls and chipped wall edges can be readily improved with the right contractor. Handymen can be a jack of all trades and master of none, so invest in someone who knows what they are doing and don’t just band aid fix problems which will cost more later on.
It surprises me that an investor is prepared to leave their property vacant without making an adjustment on price or accepting a reasonable lower offer on rent. For example, a reduction of $20 per week on a property asking $270 per week is a small price to pay, instead of leaving the home vacant for an extra 5 weeks waiting for the ‘right’ price. If we do the maths, $20 over a 6 month standard term lease is $520. If a property sits vacant for an extra 5 weeks without the adjustment, that is a real cost of $1350. We all want the best price possible for our rental property, however, it is important to do the maths when evaluating an application for tenancy.
Going forward, I am really looking forward to embracing my new role at LOCATIONS as Leasing Officer. Our Leasing team is working overtime to ensure our properties are rented to suitably qualified tenants. We are also looking for more properties to lease, so if you have a property available or would just like more information about current market rates, please get in touch. We would welcome the opportunity to work with you to manage your property.
Check out all of our current properties at www.locationsestateagents.com.au