How to manage your property. Key points that every landlord should know.
It all starts with a plan. Owning an investment property should not be treated lightly, knowing that your biggest investment is getting you the right returns and being looked after by screened tenants and a diligent property manager is key.
At 360 Property Management, we want to know what your objective is for your portfolio so that we can maximise the opportunity to achieve your goals. Here is what you should consider when you lease out your investment property.
1. Tenants matter. A quality tenant pays for themselves over time. A tenant selection process should be comprehensive. It should include credit checks tenant reviews, criminal history, police checks, employment, and previous landlord checks.
2. Receive payments on time. Ensure your tenants are paying on time, and have a record of this payment. This will with your end-of-financial year summary.
3. Quality tradespeople. Maintenance is one of the ongoing costs of owning an investment property. Ensuring you have quality tradespeople to deal with issues when they arrive is key. Having people who will do a good job once instead of poorly done which becomes more expensive.
4. Comprehensive inspections. Ensure your property is thoroughly inspected before your tenants move in. Document all faults so that you are both held accountable.
5. Have specialists guiding you through decision making. Having a knowledgeable third party providing you with the best market information so that you can make fully informed decisions.
360 Property Management can make your life even easier. We take care of the entire process. From screening and selecting tenants, ensuring payments are made on time, inspecting and taking care of maintenance issues. Not only that but our property managers have access to the latest market information so that you know you are getting the very best return from your investment property.
Learn more about what landlords should be looking at when managing their property here.