If you want to make money out of rental properties, then you should consider employing a rental property management company. Managing a rental property can be timely and costly, which is why a lot of property investors find using a management company convenient.
A good property management company will be able to advise you on what sort of property you should be looking to buy. They will be able to indentify popular areas that tenants like to live in and suggest the sorts of properties that are likely to generate a good return. Property management companies will also help market your property, find you the right tenant and adopt a low tolerance approach to late rental payments.
They will also be able to advise how much rent you should be charging and will be able to suggest how you can increase the perceived value of your property by making a few relatively small and affordable changes. For example, properties that provide ceiling fans, security screens and a dishwasher are more sought after than those that don’t have these items.
Research has shown that bathrooms are very important to tenants too, so it would be worth making sure the bathroom within your property is clean and simple with a working toilet, bath, sink and shower. Even replacing the vanity unit in the bathroom with a new one will improve the overall feel of the bathroom, for little monetary outlay.
A good property manager will also be able to suggest other low cost things you can do to improve the overall look of your property, which in the long term, will only make it more of an appealing proposition for any future tenants.
Property management companies will also invest a lot of time into finding you the right tenant. A strict screening procedure is put in place, where prospective tenants are subject to background checks and must provide several references.
Templeton Property is a leading Brisbane property management firm with an experienced and dedicated team who value good customer service and offer first class advice. Every member of staff has a wealth of experience within the property industry and are only too happy to pass on everything they know to help you maximise your profits and enjoy your new role as a landlord.
Call (07) 3368 1988 to get started today.