Rent at market value

$50 a week less is a large amount of money per week and over a year it’s $2600.  Is it not worthwhile to make sure your property has the right rent set?

 

Lower Property Management Fees

An additional one or two percent management fee a week, or an additional week’s rent (the usual letting fee cost) can mean the difference between positively and negatively geared, literally $1000 dollars a year.  Although it’s a hassle and the information is often not presented upfront, it pays to do your research!

 

Quality tenants who stay longer

Great tenants mean carpets don’t need to be replaced, the property looks better and gets a better return, any damage is reported immediately by the tenants which means less cost and no drawn out QCAT issues that cost money and take time.

Better tenants can be found through quality advertising, well-maintained properties, good tenant and agent communication, and quality work by the property manager in meetings and going through tenant applications.

 

Sleep better

Perhaps it’s not the first thing you think about when it comes to investment properties and property managers but it will be if you have issues.  Getting a great return is a priority but having your investment on cruise control is just as important for your sanity.