Australians love property, both to live in and as an investment, but that investment needs to be looked after. The best way to do that is to appoint a property manager that has the requisite qualifications, skills and experience says First National Real Estate Burnie.
With more than 70% of Australians buying their own home and a significant number also owning an investment property it is important these assets are not left to erode in value simply because they are not being properly looked after and managed.
For many, their investment property is their major investment or nest egg for the future.
With people now buying investment properties through their self managed superannuation funds, this is set to increase and these assets need proper care, otherwise many elderly Australians may find they run a little short on funds at a time in their lives when they should be as stress and worry free as possible.
It is vital investors make sure they get their investment looked after by professional property managers and not by the junior person on the front desk, as is too often the case.
It is a scandal that some real estate agents and networks see the sales department as the hero and leave property management to the inadequately skilled. This is people’s hard earned investments we are looking after – it requires skill and training.
But the problem of inexperience is partly driven by investors who think it makes no difference who they have manage their rental property. Their choice of agency is therefore decided on the basis of who discounts their management fee the most. As a result, some business owners offset those discounted fees by employing inexperienced juniors to manage their landlords’ assets.
First National Real Estate Burnie commits its staff to ongoing training to stay ahead of legislative changes, and to better understand how they can add value to a landlord’s returns, preferring to compete on quality and results than the lowest fee.
While we’re commercially competitive, we take the professionalism of our property managers very seriously. They learn from world class trainers and each other at First National’s conferences and professional development events. In our office alone, we manage more than $55 million worth of property – this is asset management, not housework!
Property management is our main business. As a principal I know that a strong, well-managed rental portfolio is pivotal to our success. It provides a good steady income as well as being our main asset. I’m completely committed to the stability of my staff and with over 30 years combined experience amongst us; we consistently achieve some of the lowest vacancy and rent arrears rates in Australia.
No one has more invested in property than the principal of a real estate agency – it is an asset that needs looking after. And, investors who think that hiring a property management professional is too expensive soon find out just how expensive hiring an amateur can be.
Some investors pay more for their monthly phone bill than they do with a monthly management fee. They only need a few unnecessary weeks of vacancies each year before they can find themselves well behind. And, a poorly optimised property can leave them tens of thousands behind over the long-term.