Owning a rental property in Campbelltown is an opportunity to start a property portfolio to fund travel, to start a business or for the long term, to have a good income in retirement. Some people need to put their own dwelling into the property management market while they travel or work interstate. In either case, finding the best property management agency to look after this investment is a decision that should not be made in a hurry.
Check Before Choosing an Agency
There are a few essential checks that should be made when choosing an agency. The length of time it has been in business is an excellent place to start. It makes sense that an agency that is still thriving after many years must be meeting the service expectations of its clients. It should be relatively easy to obtain testimonials and references by asking a few questions and checking with people who are already using the agency.
Prudential Real Estate has been in business for twenty years and now has over AU$9 billion worth of properties under management. They offer their investors one point of contact, a dedicated property manager who handles every aspect of their investment property. This direct communication between the client and the property manager speeds up problem resolutions and gets questions answered quickly.
Checking the quality of the advertising used by an agency to attract tenants to their rental properties is another way to assess their effectiveness. Most people these days use the internet as the primary search facility when they are looking at property. A top agency has an attractive, well organised web page that loads quickly, has plenty of information and sharp, clear colour pictures of their rental properties. They may also use other methods as well, but their primary marketing tool is the internet. The purpose is to attract plenty of good quality tenants to give the owner a larger pool from which to choose.
Top Agencies have Sound Systems and Selection Processes
A top agency has sound administration systems and stringent credit and reference checking of prospective tenants. Their effective accounting software allows for speedy remission of rental income to the owner and regular property inspections ensure the property is well looked after. These are all things to look for when choosing an agency. Falling down on any one of these practices opens the door to undesirable tenants who fall behind in their rent, cause disruption and damage to the property.
For a tenant to be considered for a rental property managed by Prudential Real Estate, they must undergo a selection process. They complete a four page application form; supply multiple identification documents and references from previous tenancies, as well as proof of income from an employer. Prudential will not recommend any tenant to an owner if the applicant has not successfully passed all the selection criteria.
Once the owner has made the final decision, the Residential Tenancy Agreement is prepared, along with a thorough property condition report. The tenant signs a direct debit authority so the rent is automatically paid each week to the agency trust account. Prudential can arrange to pay all expenses associated with holding the rental property if the client so desires. This really is a ‘no worries’ way of putting a rental property to work. Check their website at www.prudential.com.au before deciding which agency should look after your valuable investment.