We provide expert property management in Newcastle and Lake Macquarie. Based in Charlestown NSW, we have been delighting property investors with our personal, professional service since 2011. If you find this article helpful or enjoyable, please subscribe or share it with someone else who may benefit.
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.
When it comes to researching rental real estate management options in the Newcastle area, it can seem like everyone is offering much the same thing, with negligible difference between services provided by different real estate agencies.
As a result, property investors sometimes resort to choosing a real estate agent based on purely financial measures such as lowest management fees or highest rent appraisal, but these criteria are flawed if considered in isolation.
Don't Choose Based On Highest Rent or Lowest Fees!
Did you know that based on a typical rental return of $460 per week, the annual difference between a 6.6% and 7.7% management fee is the equivalent of having your property vacant for just 4 days?
Similarly, it is a misconception that a higher rental estimate suggests greater experience or market knowledge from an agency. Sometimes a higher estimate is actually a sign of an inexperienced property manager or a business development manager needing to hit their new business targets for the month by securing another landlord.
Far more critical than finding real estate management agency offering low fees or a high rental appraisal is finding an agency that will minimise vacancy and fill your property fast.
How to Find The Best Real Estate Management In Newcastle
The following 3 tips are a great place to start:
Non-Financial Measures Of A Successful Real Estate Management Team
Of course, property investment is a financially-driven pursuit. The objective is long-term financial gain and minimal short-term impact. But choosing an agent based on spreadsheets of fee comparisons misses many critical considerations entirely, such as:
There are many "soft" qualities and attributes a spreadsheet comparison of fees won't address, but which are arguably more crucial to the long term success of your investment and your level of enjoyment along the way.
For more tips we recommend reading our article "How To Find the Best Property Management Company In Newcastle".
If you are seeking focused, experienced, transparent and professional property management in Newcastle, contact us now. We'd love to meet you and discuss your investment.
We provide expert property management in Newcastle and Lake Macquarie. Based in Charlestown NSW, we have been delighting property investors with our personal, professional service since 2011. If you found this article helpful or enjoyable, please subscribe or share it with someone else who may benefit.
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.