There are many advantages of consolidating your investment property portfolio to be managed by a single property management company. The benefits range from operational aspects which make life easier for you as an investor, to being able to maximise your return on investment through having visibility of your investment properties as a whole.
Advantages of Consolidating Your Investment Property Portfolio
1. Having a Single Property Manager To Contact
One of the more obvious benefits of having multiple investment properties managed by the one agency is that you have a single point of contact. No matter which property you wish to speak about, the one person who answers your call will be able to help you.
We know that one of the most complained-about aspects of property management companies can be the difficulty investors have in getting through to someone - or hearing back from someone - quickly. Having a single point of contact means the one, proven, reliable contact you have built a relationship with is there to help for any of your properties.
2. Reduced Property Management Fees
If you have multiple property management companies managing single assets, you are more likely to be charged higher fees. Consolidation of these to a single agency will likely enable you to reduce fees to a more beneficial cost structure.
Property management fees in Newcastle and Lake Macquarie vary widely, from less than 5% to in excess of 8%.
Carnelian Property Management offers a reduced management fee of 5.5% including GST for all investors who have multiple properties under our management.
If you are an existing landlord being offered a higher management fee from another agency (or from us), by switching property management to us you will be afforded this reduced rate across each of your investments.
3. Continuity of Knowledge and Minimal Disruption
Real estate agency staff are regularly appointed, shifted across teams, assigned other tasks or portfolios, or otherwise moved on from being your contact point. This creates another common source of frustration for investors - disruption through regular changes in contacts at their agency.
A single agency managing your properties minimises this disruption and frustration, ensuring there is continuity of knowledge about the history of your properties and your investment goals.
Many investors who work with us have had the same, smiling, helpful and committed property manager (Natalie) for more than 7 years. As an an owner of the business, Natalie is not moving agencies or shifting to other duties and away from direct investor contact any time soon! And, over time our team has expanded to ensure we each continue to enjoy our work while still providing first-class customer service.
4. Receive Documentation In The Same Format At The Same Time
Having a single agency managing your properties also means you will receive all initial documents such as management agreements and copies of leases, as well as regular monthly statements, annual statements, and so on all at the same time and in the same format. No more trying to remember where to look for a piece of information or need to decipher the way different statements are formatted.
This also has the benefit of reducing "information overload". Statements will arrive at the same email address (or postal address) at the same time in the same layout each month, making it far easier to track the comparative and overall performance of your properties.
5. Saving You Time
If you have any properties managed by an agency which expects investors to travel to their office (or charges for their staff to travel to you) for a meeting, you may be chewing up valuable time and expense travelling to multiple locations for meetings with multiple people.
Less time spent explaining things to multiple people across multiple agencies will of course save you time - leaving you more free to spend your time as you wish!
Contact Us To Make A Positive Change
We are committed to providing investors the most friendly, accessible and expert property management service across Newcastle and Lake Macquarie.
Contact us today to discuss how we can help minimise cost and disruption to you, while saving you time and mental energy.
Carnelian Property Management Newcastle NSW
We are a family-owned and run Newcastle real estate agent offering expert property management across Newcastle and Lake Macquarie.