PROPERTY MANAGEMENT NEWSLETTER WHEN IS YOUR RENT STATEMENT SENT TO YOU? We are often asked at what stage of the month your rental statement will be sent to you. We account to you by transferring all funds held by us on your behalf to your nominated
A VACANCY CAN BE VALUE ADD TIME A property that is about to become vacant can be a great opportunity for a property investor to determine if they can add capital value to their investment property and achieve a higher rent and attract a long term tenant. Ask your Property Manager about the most cost-effective improvements that can be made to your property including: 1. Is a new stove needed? A new clean stove not only adds capital value but also increases the attractiveness of your property to intending tenants,
bank account on the last business day of each month. We will email your rent statement to you and will attach copies of any invoices paid on your behalf. The emailing of statements negates the time you have to wait to get your rent statement due to extended Australia Post postage times and is appreciated by your accountant who these days does not store or process your files records in paper format. Emailed rental statements and invoices are an accepted business practice these days and assists in reducing your accountancy costs where you are not paying for your accountant to scan
2. Do you have Built in wardrobes?. If the answer is no install them, or if you do can they be upgraded with more drawer space and hanging space. By having built ins your property moves to the top of the renters shopping list, therefore reducing your vacancy time 3. Window Coverings. Modern blinds or even shutters instantly increases the appeal of your property – even before intending tenants step inside‌ the can see the difference from the street! Again this increases the likely rental you can achieve and is a real long term value add to your property 4. Dishwasher. Consider installing a dishwasher. Dishwashers are relatively inexpensive and makes your property look more modern and enhances the value of the property to prospective tenants. 5. Fridge space. Take a hard look at your kitchen space. Can the fridge space be increased? Often the difference between a property leasing or not is inadequate fridge space. Make the effort and reap the rewards. Its also wise to give your property manager the dimensions of the fridge space so they can promote this information to prospective tenants. To increase the rent appeal, reduce vacancy rate, increase the rental value and the capital value consider the above and use your imagination to consider what you can do to your property when your property becomes vacant.
paper based documentation to their records that they hold for you. Our rental statements are detailed and show all income, expenditure and the tenants paid from and paid to dates including any additional or above rent level amounts that the tenant pays. Any monies that your tenant pays above the rental amount will show as a credit on your statement and will be credited to your bank account.
March 2016
CONSIDER ANNUAL REVIEWS OF RENTS It is important not only to keep rents at market level but more important to ensure a consistency of income from your investment property. We have seen a move to annual rental reviews with investors now more concerned with a consistency in rental income as interest rates have now started to move upwards. The annual review in rent does not lessen the income stream an investor derives as it actually results in an annual increase in rent and also gives tenants breathing space between increases therefore increasing tenancy terms and the income stream from the property.