Property ManagementHaving a good relationship with residents is fundamental to a great investment property. When it comes to resident management cutting corners will only lead to discontent. By caring for your residents, you will find your property will be well maintained, repairs will be a minimum and its value will increase.
1. Be Preemptive
Prior to your residents move-in date consult with your portfolio manager about any items that may need updating. It is better to address any issues you see arising in the near future before they become a complaint plus it is much more efficient and cost effective to attend to repairs while the property is vacant.
2. Be Considerate to Your Residents Rights
While carrying out periodic scheduled inspections is routine to ensure the property is being looked after, it is important you are not visiting the property unannounced outside of those times. As the owner of the home you too have rights and in the case that you need to attend to something there you can contact your portfolio manager and they will organise a suitable time.
3. Communication is Key
An open line of communication between the owner, portfolio manager and resident is crucial for a positive and long-lasting tenancy. Make yourself available to your property management team so that they can best navigate any situation at hand and ensure your resident is always presented with the best level of service.
4. Go the Extra Mile
When your property is part of a Strata Body Corporate, complaints may arise pertaining to the common areas of the property, which only Strata can resolve. Go the extra mile and address these issues in the next meeting you attend, and you can bet your resident will be very appreciative of your efforts.