Whether it is your first finance or you own a portfolio of properties the importance of utilizing an skilled and knowledgeable property manager remains paramount.
Later the enthusiasm surrounding the purchase of an investment property has faded and the time consuming reality of property management becomes apparent investors often feel overwhelmed with the dedication and commitment required.
Have you considered the magnitude of what is involved in managing an investment property? As a private landlord do you have the knowledge, time, tools, skills and specialised services available to you that will ensure your investment is managed efficiently and effectively?
Have you considered the importance of ...
? Quality tenant selection. Primus Realty employ a thorough tenant selection process. Applicants are required to submit a blow-by-blow application form along with 100 points of identification. When applications are processed it is the attention to detail which is aristocratic. Do the address details on the badge provided match with those provided on the request form? If the applicant is renting privately we are able to search ownership of the rental property to ensure the character is in fact the proprietor of the possessions. In the case of self employed applicants we ask to speak to their accountant to ascertain that they are in a position to meet rent payment obligations. Finally we are able to utilise the services of two National Tenancy Databases, TICA and NTD, which maintain a register of 'defaulting tenants'. Once all avenues are exhausted we present the application to the landlord, who ultimately makes the decision.
? Conflict resolution. It may be difficult to adopt a step back when you become emotionally entwined in both the property and your tenants. How do you resolve late or unpaid rent? How do you conduct objective rent inspections?
? A comprehensive knowledge of the Residential Tenancy Act 1987 and other relevant legislation. Are you aware of the full implications of the Residential Tenancies Act 1987?
? Being up to speed with new and pending regulations. Is your property smoke monitor and RCD compliant? Does your swimming pool comply with local council requirements? Have you considered the possible introduction of an energy rating system and the financial impact this may have on you?
? Having a legal lease in place and ensuring any special conditions included stand up in a Magistrates court. Are you aware that special conditions in any lease cannot override the Residential Tenancies Act 1987?
? Having access to a range of qualified tradespersons to undertake routine maintenance required at the property? Do tradesman also have relevant insurances?
? Keeping a proper record of account? Primus Realty use a specialised trust accounting system which makes lodging your annual tax return a whole lot simpler. We produce a simple and easy to read annual statement which details all your income and expenses. Are you also aware that the cost of employing a Property Manager may be used to offset your taxable income.
Later the enthusiasm surrounding the purchase of an investment property has faded and the time consuming reality of property management becomes apparent investors often feel overwhelmed with the dedication and commitment required.
Have you considered the magnitude of what is involved in managing an investment property? As a private landlord do you have the knowledge, time, tools, skills and specialised services available to you that will ensure your investment is managed efficiently and effectively?
Have you considered the importance of ...
? Quality tenant selection. Primus Realty employ a thorough tenant selection process. Applicants are required to submit a blow-by-blow application form along with 100 points of identification. When applications are processed it is the attention to detail which is aristocratic. Do the address details on the badge provided match with those provided on the request form? If the applicant is renting privately we are able to search ownership of the rental property to ensure the character is in fact the proprietor of the possessions. In the case of self employed applicants we ask to speak to their accountant to ascertain that they are in a position to meet rent payment obligations. Finally we are able to utilise the services of two National Tenancy Databases, TICA and NTD, which maintain a register of 'defaulting tenants'. Once all avenues are exhausted we present the application to the landlord, who ultimately makes the decision.
? Conflict resolution. It may be difficult to adopt a step back when you become emotionally entwined in both the property and your tenants. How do you resolve late or unpaid rent? How do you conduct objective rent inspections?
? A comprehensive knowledge of the Residential Tenancy Act 1987 and other relevant legislation. Are you aware of the full implications of the Residential Tenancies Act 1987?
? Being up to speed with new and pending regulations. Is your property smoke monitor and RCD compliant? Does your swimming pool comply with local council requirements? Have you considered the possible introduction of an energy rating system and the financial impact this may have on you?
? Having a legal lease in place and ensuring any special conditions included stand up in a Magistrates court. Are you aware that special conditions in any lease cannot override the Residential Tenancies Act 1987?
? Having access to a range of qualified tradespersons to undertake routine maintenance required at the property? Do tradesman also have relevant insurances?
? Keeping a proper record of account? Primus Realty use a specialised trust accounting system which makes lodging your annual tax return a whole lot simpler. We produce a simple and easy to read annual statement which details all your income and expenses. Are you also aware that the cost of employing a Property Manager may be used to offset your taxable income.
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