Three tips to help find the right property manager

Property management is an important aspect of renting out your investment property. Some people are able to look after a property on their own but most people choose to use the services of a professional.

If you are looking for someone to take the hassle out of managing your property, here are three tips to help you find the right person:

1. Organisational skills
Organisational skills are a must have. Property managers often have over one hundred properties under their care and following up on late rent, maintenance issues, and finding new tenants can be complex and time consuming. Make sure that your property manager displays clear signs that they are well organised. Being late to meetings, forgetting documents and being vague about details could all be an indication that they are not organised.

2. Communication
The manager that you use must be able to communicate well. There should be clear channels for you and your tenants to speak with the property manager. Check to make sure that calls, messages and emails are responded to in a timely fashion. If not, it could be that communication is not the strong suit of the property manager and that could lead you to become frustrated or lose a tenant.

3. Property Inspections
Receiving regular reports regarding the state of the property is vital. These reports and inspections help you to understand if the property is in good shape or if any damage has been done. Ask how often the inspections are carried out and for information about how detailed the inspections are. It's better in the long run to know as early as possible if there is a problem. A property manager that is serious about inspections is a very good sign that your investment will be well watched over.

Break continues for borrowers as rates on hold for July

 

Century 21, the largest real estate company in the Asia Pacific region, welcomed the decision made today by the Reserve Bank of Australia to leave interest rates on hold at 4.75 per cent as one that was in the best interests of Australian homeowners. 

 

“This decision is appropriate for current economic conditions, especially those we are seeing in relation to consumer spending and housing,” said Chairman and Owner of Century 21 Australia, Charles Tarbey. 

 

The Reserve Bank’s decision marks the seventh consecutive meeting at which rates have been kept steady, and comes at a time when many aspects of the Australian economy look to be struggling. 

 

Despite the continued strength of Australia’s mining sector, recent data shows a decline in consumer spending, weakening housing finance figures and a fall in property values. 

 

“This decision provides a boost for the residential property market and will come as much-needed relief to many mortgage holders across Australia, a large number of whom are already facing pressures to keep up with their monthly repayments,” continued Charles Tarbey.

 

“Borrowers should however prepare themselves for the possibility of a rate rise in August, as by then the Reserve Bank will have seen the latest inflation data which will serve as an important guide for its decision,” concluded Charles Tarbey. 

 

The nation’s measure of price inflation, the Consumer Price Index (for the quarter to June), is set for release by the Australian Bureau of Statistics on July 27. 

 

“There is no doubt that the uncertainty of another interest rate rise has affected consumer confidence locally,” said Century 21 Goldkey Realty Franchise Owner Justin O’Connell.

 

“Much like the announcement to hold rates in June, this is sure to give buyers an opportunity to get into the market whilst still competitive” continued Century 21 Goldkey Realty Franchise Owner Justin O’Connell.

 

“Sellers also will be set to capitalize with increased traffic and motivated buyers set to be on the way up for the beginning of the new financial year” concluded Century 21 Goldkey Realty Franchise Owner Justin O’Connell.  

 

With over 3,000 offices, Century 21 is the largest real estate company in the Asia Pacific region, a region vital to Australia’s continued economic success.