Are you wondering what’s happening with your investment property?
Are you frustrated because you are not getting answers, or worse, don’t know who to ask, as the company you are with has a very high staff turnover rate and you speak to a different person each time you call?
Is the rent is up to date?
When was the last routine inspection done?
Has that leaking tap been fixed?
Has the recent storm caused any damage to your property?
When speaking to a family member about her investment property recently, I realised that many landlords are not updated regularly on what is happening with their investment property. Some may think however, that no news, is good news. Although that can be true, if it was me, I would still like an update or a way I can get this information online in my own time, whenever I start “wondering”.
Now, I understand too well how busy property managers are and how things can be overlooked or missed, after all, we are only human. But in today’s technology advanced world, there are many programs available to streamline the processes and manage, time effectively, ensuring everything is up to date and nothing is missed.
With all this technology however, we cannot afford to lose the human aspect. That’s when it becomes essential to have a mindful manager to look after your investment. It removes all the “wondering” and replaces it with peace of mind that your property is cared for by someone who manages it like their own.
You need a manager who does routine inspections regularly and proactively reporting any maintenance required and notices every little detail. One who does every routine inspection the same way, inspecting from the street curb to the back fence, each room, each surface. Making recommendations and providing you with a detailed report with lots of photos, which will be essential in case of an insurance claim.
Someone who provides detailed quotes with photos of maintenance needed and updated photos when the job has been completed and they have carried out an onsite inspection or verified with the tenants that the work has been done satisfactorily.
A mindful manager that holds tenants and tradies accountable by providing immediate feedback, and also appreciating and rewarding the people when the work is done well.
An experienced manager should find and keep the best tenants, while remaining loyal to the landlords. They should ensure that rent is paid, on time, every time and breach notices are sent in accordance with regulations. When choosing the best tenants, they need to ensure all the necessary checks are completed and criteria met and follow up reference checks with a phone call to previous property managers to ensure they get a complete history and verification of information.
You should never have to ask or wonder how everything is going with your property.
Information should be accessible on an owner portal for 24/7 access and your manager should let you know every time a maintenance request is actioned and confirmation when it has been completed.
Being kept informed before, during and after every event related to your property is essential, and in the way you prefer to be informed whether it be low tech or high tech. And for those busy landlords who can’t deal with their investment property issues during the day, availability after hours is essential.
If your property manager, looks after your property this way, you will intuitively know your property is in the best of hands, you’ll have peace of mind and never be wondering “What’s happening?”