Tips on choosing the Ideal rental investment
Tenants have a ‘Wish list’ of items they would love in their home. These aren’t essential, just some suggestions that may increase your returns and help you find an amazing tenant.
Proximity to shops, public transport & schools is important. For future capital growth location is also
Air conditioning such as Split Systems, ducted heating, etc. Panel heaters can also be an appealing.
A garage is the most appealing for car storage although providing car spaces or a carport can be
Apart from a nice neighbourhood a tenant will always enjoy the benefits of a secure yard and/or shed.
Storage such as built in robes or cupboards are attractive, especially to young families with children.
Before buying, ask your managing agency for a written rental appraisal to ensure accurate rental returns are forecasted
If you are buying an existing rental property, speak to the Property Manager directly to ensure you’re inheriting a good tenant. Ask for a ‘Tenant ledger’ which will detail the consistency of rental payments.
Choosing your agency
Things you should expect from your Property Management department vary from landlord to landlord, although there are some essential expectations that you should seek.
Some things to consider when appointing your agency;
How did they handle your initial enquiry?
Did they respond quickly?
Were they polite?
Did they show interest in your property and investment?
What is their Agency arrears policy?
How often do they disburse funds (Pay the Landlords)?
Is the Agency website easy to use?
Ask the property manager:
How many properties do they manage?
If a Property Manager has too many properties in their portfolio they may be overwhelmed with workload and not attend to arrears and maintenance.
‘Mystery shop’ several agencies and ask some basic questions!
Working with us
During the tenancy it is crucial to ensure the property is being well maintained: to ensure happy tenant and to maintain the integrity of your property portfolio.
Under a new tenancy, an initial three month inspection will be completed. A report with photos will
be provided to you as the landlord along with photos.
Every six months after the initial inspection, a Routine inspection will be done. Again we will provide
you with a report of the inspection including photos.
At Latrobe Valley Real Estate, we hold a simple philosophy for our Property Management portfolio
Our expectations of our tenants is to pay the rent & take care of the property
Our commitment to our Landlords is to minimise risk & maximise your returns.