1. Loss of property value (capital loss)
Because it is an investment property, at some point you will need to sell your property or you may want to mortgage against the equity you have.
If your property requires a lot of maintenance, potential buyers, licensed valuers and building inspectors will identify this immediately and you can expect:
- A lower valuation (less equity for you)
- Low or no offers from buyers
- A revised offer due to a non-satisfactory building inspection
2. Loss of tenants
You can rightfully expect that your tenant pays their rent on time and looks after your property. In return, they will expect you maintain the property to a good and live-able standard.
If your property is not being maintained, tenants will leave or they may request rent reductions or compensation.
This starts with the very first tenant you place into your property. Good tenants want to get the best value for money so they will look for the most well-presented home, at the best price. If your property is not well presented, they will move on to the next one leaving you with no rental or, poor quality applications.
Once the tenant has moved in, if something breaks down they expect you to get it fixed, quickly. If something breaks down multiple times due to a dodgy repair or is simply not repaired at all, your tenants will label you a scrooge. They will leave at the first opportunity they get. Property maintenance is a high priority on every tenants list.
Then, not only will you need to find a new tenant for your property BUT you will also have to spend thousands you have not budgeted for getting your property back up to scratch.
What is the problem?
We have good news! The problem most of the time is not you.
Most property management agencies still manage properties in the old, in-efficient traditional way which is you have 1 property and they do EVERYTHING required for the management of your property.
Unfortunately, when they’re prioritising their work from rent arrears, finding new tenants and property maintenance, property maintenance is always placed at the bottom of the pile. Sometimes it gets lost amongst the workload and is never actioned at all.
Not only that, most property managers are NOT trained effectively in communication. They are ‘scared’ to talk to you and don’t have the skills to advise you on property maintenance because it involves you spending money.
The excellent solution – even more good news for you
1. We have excellent people trained effectively in communication and property management so they have no issues picking up the phone and talking to and advising you. That’s what you’re paying them for
2. We have an excellent system and structure to deal with property maintenance. This includes an online lodgement system for your tenants, so maintenance won’t fall through the cracks. This includes strict repair timeframes for our tradesman to ensure the work is completed quickly
3. Any request must be actioned within 3 days. Except when there is an issue that is classed as an emergency
4. All requests must be repaired within 14 days from when the request is sent to the tradesman where possible
5. We track and measure our maintenance daily. We know as soon as it’s overdue and use this to prevent your tenants from getting upset
What to expect
1. We attend your property and notice something that needs to be upgraded or repaired
2. Your tenant reports to us that something is in need of repair
Our trade people
We only use licensed professional tradesman who we know share our values and can deliver on the promises we make to you and your tenants. We have long-term relationships with our tradesman.
This means, your job goes straight to the top of their list AND they provide competitive rates to reward us for and keep our loyalty. It also means if anything should go wrong, they return quickly and sort the problem out.
Property maintenance reported by a tenant
We have an online system where tenants can report their maintenance to us. This means, ALL property maintenance is reported in writing. BEFORE your tenant can submit the request, they agree that they have conducted the required troubleshooting in an attempt to fix the problem themselves.
We then call you to let you know what is happening and what action we’re taking. If you’re unavailable, WE WON’T WAIT FOR YOU TO RESPOND. This is the type of expert decision you pay us to make on your behalf and by ‘waiting’ we’re only going to cause Problem Number 2 as mentioned earlier.
We will, however, send you an email outlining this information so that if you want to know, you can have a read in your own time and get back in contact with us if you have any questions. This is just one of the many ways we take the hassle out of having your property managed.
Payment of invoices accounts
Your invoice is also processed by one of our excellent people so before contacting you, they will peruse the invoice to ensure there are no extras appearing on your bill. If we feel the invoice is excessive or identify any unexpected charges, we will question the invoice and have it rectified if required.
We will then contact you and let you know the outcome and cost of the bill.
Copies of any invoices will also be sent to you with your statement and you can also download these online in your Owner Portal.
Property maintenance planning
Monthly special offers
In our newsletter each month we will provide you with a special offer. For example, in Winter we send out an air conditioner servicing offer and in October, a gutter clean and roof inspection offer.
We also offer specials for Tax Depreciation Schedules.
Subscribe to our monthly newsletter and take advantage of our preventive maintenance plan.