Make 2023 the best year for your investment property.

Prepared by Allison Briggs and Cindy Gash, Flemings Property Services.

Photographer I Rachael Lenehan Photography

When owning or to maximise your investment property’s rental return, a property manager can be invaluable by providing you with a professional opinion, offering peace of mind and saving you valuable time. 

The property management team at Flemings, work tirelessly to not only maximise your return, but to increase your property’s value.

4 ways a Flemings Property Manager can ensure your investment property is performing at its best. 

1.Financial and lifestyle goals discussion

We activity discuss with existing and new landlords, how the management of your investment property corresponds with your financial and lifestyle goals. 

It is important to facilitate this discussion at the commencement of our landlord relationships so we can accurately tailor our management style to suit. After 6 months working together, we revisit your goals and objectives therefore adjusting strategies, as necessary. 

We discuss matters such as:

  • How long you require a tenant for?
  • What your priorities are regarding that tenancy?
  • Are you searching for a long-term tenant for stability and income security? 

2.Tenant Selection

Selecting a suitable tenant for your investment property is critical, not only for a stable income, but also for your property’s value over time. 

When selecting an ideal tenant, we consider the following: 

  • A secure source of income to ensure that rent will always be paid on time. 
  • The ability to communicate efficiently with the Property Manager.
  • Good rental history, proving they will treat your property with care and respect.
Photographer I Rachael Lenehan Photography

3.Routine Property Inspections

Flemings Property Managers conduct routine inspections every 6 months. There are two main reasons why we conduct frequent routine inspections. 

The first being, it ensures tenants are taking responsibility for the condition of the property. And secondly, it is an opportunity for our property managers to physically identify any issues a tenant many have not recognised. 

Addressing these issues in a prompt manner will ensure your property’s value is maintained. 

4.Rent Reviews

Rent reviews are assessed in conjunction with routine property inspections. It is also a suitable time to determine if the property requires any renovations to maximise your rental return. 

Adjustments to the rent in line with the market value are considered by comparing other rentals in the area with similar property specifications. It is important to also consider the effect of inflation on rental values and make subsequent recommendations. 

Frequent rent reviews conducted by Flemings Property Managers, indicate where the property sits in the market compared to other properties. An increase in rent coincides with an increase in the property’s value. 

Photographer I Rachael Lenehan Photography

For more information on how you can make 2023 the best performing year for your investment property, please contact your local Flemings branch.