Archives

30

August 2016

Managing your level of input for your investment property

How much input do you WANT to have in the management of your Investment Property?

Getting the right level of input is often a great step in making it a less stressful, and more satisfying Investment Experience – and it can be a lot easier to achieve than you may think.

What should you do to get your Managing Agency to be in contact with you about the situations you WANT to be involved in? No more, and certainly no less!

Be up front about what you want from your property manager!

Don’t wait until you are sufficiently irritated to eventually say something; set the expectations and your needs early on. Not only can this stop your irritation, this can also help create a greater working relationship with your Agency to more effectively managing your valuable asset.

If your Agency isn’t involving you as much as you would like, tell them you would like to be more informed and involved. If they are calling you unnecessarily during your busy day – and you’re perhaps of the opinion that you are paying them to handle these things and not bother you – make sure they know this is what you want! You may even decide to review and increase the Agency’s authorised spend limit with maintenance so they do not need to contact you with minor repair items.

So in summary, these are some things you to consider:

  • Outline to your Agency how much input you want to have: Don’t wait for it to become irritating!
  • If you would like the Agency to handle things more autonomously, give them the authority to do so in writing.

Once your Agency is aware of your expectations, it is very likely your experience in having an investment property with them will improve – and with it your happiness in owning your investment property.

If there is one thing your Agency wants, is their owners to be happy with the service they provide; so if you can help create this by having one conversation with them to set your expectations, isn’t that a worthwhile phone call?

Call Todd or Sue Pearce at Page & Pearce anytime to discuss any requirements or queries you have in relation to Property Management.

Call 07 4727 2400 or email: toddp@pagepearce.com.au or suep@pagepearce.com.au

Source: Travis Henke, Real Estate Dynamics 2016