To Manage or Not To Manage
Property management and is definitely a high priority and is not as simple as collecting rent! There are numerous facets to property management that requires attention to detail on many fronts.
Axis Property understands the complexities and the legislative requirements that surround the management of a property including the following acts to name a few:
- Retail Leases Amendment Act 2003
- Goods & Services Tax (GST)
- Essential Safety Measures Legislation
- Property Law (S146 notices).
Our existing management clients understand the importance and the benefits of having an agent that is looking out for their best interests.
We pride ourselves on making your investment a “set and forget” proposition, giving you the extra time to concentrate on what you do best. Property investment should not be a chore, but rather a vehicle to grow wealth and plan for your retirement.
Many landlords are faced with the dilemma as to whether they should manage the property themselves or employ the services of a professional. It is important to remember that you are a property investor not a property manager.
Poor management can turn a great investment into a bad one and at the core of property management there are two fundamental components:
- Manage the Property.
- Manage the Tenant.
This basic principal, property versus tenant causes quite a bit of frustration and most landlords and tenants usually blur the lines and in turn this creates unnecessary confusion. As agents we have a philosophy that we are “people managers” rather than property managers and we spend a considerable amount of time managing and educating both the tenant and landlord.
Most owners find it hard to disassociate themselves from their investment, and find it difficult to deal at arm’s length with their tenant. Good property management is a crucial element in having a profitable and viable investment property that is working for the landlord and providing a return on investment.
The belief that you can manage the property by yourself is never a balanced consideration given the true cost, the responsibilities and the skills required to do the job competently. Our office operates 365 days a year and we are always on hand to manage any maintenance problems and issues as they arise.
We manage properties for small, medium and large investors, as well as top 500 individuals and public corporations. Our highly skilled management team are constantly keeping abreast of legislative changes and are focused to provide you with the highest level of service…the end result, to maximise the return on your investment, without the headache!
Management Services Include:
- Rent collection
- Outgoings collection
- Condition reports
- Maintenance issues
- Rental & Outgoings arrears procedures
- Tenancy reference checks
- Lease option renewals
- Rental negotiation
- Liaison with solicitors (instructions as required)
- Lease transfers
- Market reviews
- Rent Reviews
- Tenancy selection
- Essential Safety Measure compliance
- Leasing and marketing of vacant properties
Another important consideration is that problems occur at any time, day or night, weekends and public holidays and urgent problems need immediate attention. It is imperative that this is dealt with as a matter of urgency to avoid further complications, and invariably these issues arise when you are away on a well-deserved break.
Our office has suitably qualified tradespeople with all the necessary insurances in place and they are always willing to attend a property on short notice, especially if it’s an emergency and requires an immediate response. If an additional quote is required especially on larger jobs we will arrange this on your behalf. Many landlords have their own preferred tradespeople and we will revert to them as a first “port of call” to attend to the problem.
Frequently Asked Questions
Q. When will I receive my rent?
A. We account to landlords twice weekly therefore once we have cleared funds in our account we will process rents to landlords that same week. We do not hold funds for extended periods of time.
Q. Are you able to generate more than one statement?
A. Yes, we are able to generate more than one statement to the landlord and many landlords request that we also send a copy to a beneficiary as well as their accountant. We also generate and send an End of Financial Year summary with details of all revenue and expenses for the full financial year.
We look forward to being appointed your preferred managing agent and should you have any queries please do not hesitate to contact the writer. We aim to make your investment a “set and forget” proposition.