Investment in property is one of the most successful ways to generate wealth or passive income. Whilst markets change and property prices rise and fall, the cycle always continues, meaning you can be strategic in when to buy and sell your property to guarantee a substantial return on your investment.

As a property owner, you want to know that your property is being managed by a team of professionals who have your best interests in mind. We offer our clients a comprehensive and personalised service that ranges from purchase to finding and managing a tenant who will treat your property as their own. If you would like to grow or start an investment portfolio, contact our office now to discuss your options.

Selecting the right property manager is an important decision; it will influence your overall returns and your ability to benefit from your investment.

Over the last few years, property management has undergone a significant transformation, from a simple rent collection service to a dynamic investment management system that places a larger onus on the property manager. Therefore, it’s important that you have a property management team who you can trust and who is equipped to deal with this increased responsibility. As property management is an industry that frequently undergoes legislative changes, you must be assured that your team will remain informed and follow all appropriate procedures and regulations, to protect you and your investment.

Investment properties may remain part of your portfolio for a long period of time, meaning you should choose an agency and property manager that you can see yourself working with long-term and who will help you to maximise your investment.

Once you have entrusted an Alberti agent to manage your property, you will be exclusively authorising us to act on your behalf. We will appoint you an experienced property manager who will be responsible for the day-to-day management of your property and tenancy.

Your property manager will act as a guardian of your property and will provide a range of services, including:

• professionally screening and selecting tenants;
• providing a detailed explanation of the owner and tenant’s rights and obligations;
• receiving rent and issuing receipts;
• arranging for repairs and maintenance to the property;
• paying of accounts such as water services and council rates;
• processing any insurance claims that may arise;
• exercising the owner and tenant’s rights to terminate the lease;
• reletting the property at the end of each tenancy in the event of a vacancy;
• preparing and checking the property’s inventory;
• doing all such lawful things as may be directed by the owner in writing; and
• professionally and accurately reporting on the condition of the property at the inception, during and end of each tenancy.

Such authority is given to the property manager for a period of time and thereafter until 30 days written notice is given to terminate the management by either party.

When you rent out your home or investment property, it’s important to secure long-term tenancies where possible to maximise returns. As your selected agent, we will use all our experience, knowledge and resources to find you a suitable tenant in the shortest possible time. A good quality, long-term tenancy proposition is far more attractive than a consistent turnover in tenants.

With the increasing demand for rental properties, your property manager may suggest opening the property at an agreed time to ensure a sufficient pool of candidates view and apply for the property. Your agent will also constantly monitor the best medium for advertising your property in order to attract a suitable tenant. An accurate account for the advertising costs is submitted at the commencement of each new tenancy, as these costs are tax deductible.

Your property may be advertised in all or some of the following:

• rental websites;
• “For Rent” classified sections of newspapers;
• “For Rent” signboards;
• office window displays;
• brochures; and
• email newsletters distributed to our mailing list.

As the owner of property, you need to be aware of your responsibilities and obligations under the relevant legislation. The most obvious responsibilities include:

• to provide the premises in a reasonable state of cleanliness and repair having regard for the age, character and prospective life of the property;
• to comply with all health, building and safety laws insofar as they apply to the premises;
• carry out or facilitate necessary repairs and maintenance to the required standard; and
• ensure that the property is kept in good condition. Some expenditure incurred for repairs (not of a capital nature) can be an allowable tax deduction against rental income.

Setting a rental price is one of the most critical decisions you will make as an investment property owner. Your property manager is qualified to assist you with determining a fair market rental value for your property.

The condition of the property must be considered when assessing rent. The property’s location is also relevant, as is the length of term offered.

Some owners make the mistake of setting the rent too high and consequently not attracting a tenant. This will waste costs and time associated with advertising, along with the loss of potential rent whilst trying to secure a tenant at a higher rate.

We hope you’ve found value in the information provided. Please note that this information is intended as a guide only. Alberti Realty members, directors, offices and employees do not give warranty as to the accuracy, reliability or completeness of any information provided on this website and shall not be liable for any loss or damage suffered as a result of anyone relying on information provided. Alberti Realty recommends that you seek independent advice from your own real estate, financial, taxation, and legal advisors before entering into financial or other transactions.

Managing a property is a significant task. It includes:

• marketing the property;
• identifying and selecting suitable tenants;
• understanding the obligations and rights of landlord and tenants under relevant legislation;
• managing rental applications;
• facilitating the signing of leases;
• negotiating rent and managing rental payments;
• managing rental payments;
• conducting routine inspections;
• arranging repairs and maintenance;
• ensuring payment of rates;
• managing the end of tenancies; and
• reletting property to minimise vacancy time.

Recent changes to tenancy legislation in many States and Territories has increased the responsibilities of landlords and the complexity of managing a property. Some landlords who directly manage their properties can struggle to leverage the property’s maximum profit potential because they lack the time, expertise or experience to effectively and efficiently manage the property.