This week we were engaged in a discussion with some industry peers around the need to consider more than just the dollar value when setting rent for an investment property. Below, we share a real-world example of the outcome of an investor seeking high rent above other considerations, and the avoidable results of this approach.
In the process we introduce the 3-Way Balance of Setting The Ideal Rent.
We often hear from landlords who are disappointed with the service they have been receiving from their current property manager. Keen to make a change, we advise of the minimal steps involved in changing property managers.
The first of these steps is to identify the notice required to give the current real estate agency, as per the notice period included in the Managing Agency Agreement.
But how long should this notice period be?
At some time or another, many investors will receive a letter from their real estate agency advising that they are selling their property management interests to another business. That is, that the rent roll (the rental properties they manage) and perhaps other assets including the business itself will be sold to another business who will carry on the relationship with you from there.
If you've had a great relationship with your existing agency (we hope you've been so lucky!), this news can be quite concerning. In this post, we discuss what happens when a real estate agency sells their property management business and what to consider before signing a new managing agency agreement with any agency.
The current rental market across Newcastle and Lake Macquarie is running hot. We have been writing for months now about low rental vacancy rates across Newcastle and Lake Macquarie and the impacts this has on driving house prices and rents upwards.
As in basic economics, as supply decreases and demand increases, prices increase with demand. The thinking of "my property is worth what someone will pay for it", while true, can have more significant consequences.
In this article we provide an overview from a property management perspective of what is happening right now for renters across the region, our frank opinion on the exploitative nature of some rental asking prices, and the impact this is having.
Whether you're new to owning a rental property, or an experienced investor, it can be difficult knowing how to find the best real estate agent to manage your property.
In this article we discuss how to find the best rental real estate management in Newcastle, along with suggested next steps as you consider your options further.
We've written before about the findings of the 2018 Voice of Australian Property Management Report, which found that most property managers are inexperienced, many are not happy in their role and want to leave their job, and that staff retention is often a low priority for real estate agency owners. Yikes!
We know from experience that investors can feel it's a case of "better the devil you know", staying with a less than satisfactory real estate agency simply because that has become the expected level of service.
Not happy with that, we've taken a look at our own data to determine how we "stack up" in terms of client satisfaction. We're pleased with the results!
In conversations with owners new to property investment, and with people who have chosen never to invest in property, we often hear this sentence: "What if the tenants trash the place?".
The feeling of apprehension and nervousness is understandable. No one wants to risk having something of value handed over to someone who will cause damage and disappointment. However, while the feeling is understandable, it is usually not justified.
Carnelian Property Management Newcastle NSW
We are a family-owned and run Charlestown real estate agent offering expert property management across Newcastle and Lake Macquarie.