Deciding Maintenance Priorities – Where To Start?

Every property investor wants high occupancy figures for their rental properties.  Placing tenants with a good financial and rental history is essential to achieving that result. These days, however, good tenants expect their dwellings be of a high standard.  They expect it to be well presented, clean and tidy and with all the modern conveniences expected in an advanced society.  A professional property manager, such as Position One Property, is your key to achieving this outcome effectively.

Absentee Owners Rely on Property Managers to Maintain their Rental Properties

This makes the role of the professional property manager more challenging than just collecting the rent and doing inspections. Owners, especially those who live interstate or overseas, rely on us to keep an eye on the overall state of the property. They know that to keep good tenants, they cannot allow their asset to deteriorate below a minimum standard.

We have found that one of the best ways to do this is to establish a list of repair priorities for the properties under our management. Position One Property manages dwellings across south-east Queensland. They range from newly built homes to older style Queenslanders and all styles in between as well as units, duplexes and others.

Essential Services and Security at Top of Repair Priorities

Any repair that involves essential services such as electrical, water supply, plumbing and issues with sewerage should always be the highest priority. Security comes a very close second.  Doors that won’t lock, security screens that are broken and alarm systems that don’t work should all be repaired as quickly as possible.

Smoke Detectors and Pool Fencing Need Immediate Attention

Every rental property must be fitted with working smoke detectors.  Smoke detectors are an item that should be checked regularly and there are regulations around this. Repairs or replacements, where necessary, are essential and immediate. If the property has a swimming pool, the pool fencing must be on the priority list. Too many very young children have drowned in poorly maintained pools at rental properties where they lived or were visiting.

Border Fences and Gates on the List

Poorly maintained border fences can quickly become unsafe for tenants with young children. Missing palings leave gaps through which young adventurers can squeeze  General fencing and gates must go onto the list. Gate safety is essential in high-set houses to prevent injury in a fall down the stairs if the latches fail.

Kitchens and Bathrooms too Expensive to Neglect

It is said that the two rooms that sell a home are the kitchen and bathroom.  These also happen to be the most expensive to renovate. For that reason, we believe that they should be high on the list when repairs become necessary. The only exception is if the repair is urgent because of a safety issue, in which case it must be undertaken immediately.

Even in the newest homes there will be repairs required. By not allowing them to accumulate, the repair costs will be more easily absorbed; more expensive repairs later on will not be necessary and the owners will get to keep their excellent tenants.

Statistics Prove The Value Of Listing Property Online

Real Estate SearchIt is surprising that some property sellers are still reluctant to list their properties online.  Most real estate search activities today start exactly there! Rather than embrace the latest marketing techniques they still prefer a couple of photographs in the window of the local real estate agent.  Minimal spending on advertising is often a goal. They are relying on that “perfect buyer” walking into the agency office and asking to inspect the property they saw in the window.

Benefits are in the Real Estate Search Statistics

However, when we provide some real estate search statistics to clients reluctant to list online, they usually change their minds. Position One Property recommends online listing to all our clients because it is the quickest and cheapest way to showcase the features of a property and present it to the maximum number of people. 86% of people searching for property do so online.  Whether people are looking for a house to rent, or a house to buy, they’ll start looking online.  Sometimes, it’s fair to say, the house they eventually buy they may come across another way.  Like having it suggested to them by the agent they talk to, but no one can look past the fact that whether they found their desired property this way or not, they will at some stage in their search be looking online.

Online Searches Available Around the Clock and on Multiple Devices

Apart from the sheer numbers of prospective buyers looking for properties online, there are other benefits. These days, people searching online do so using multiple devices. In fact, most users in Australia switch between devices during the day depending on where they are. At work or at home they would typically use laptops or PCs. However, the portability of mobile phones, tablets and other wireless devices means they can now search in any situation where they have time available, or time to fill.

This means that a property advertised online is available for viewing around the clock. These visits can be measured so we can show our clients a year-on-year growth in viewing habits, especially on mobile devices. Listing online is the only way such constant exposure to buyers is available to sellers.

Video Tours Online Offer a New Experience

We know from television advertising history that a video has much more impact on a target market than simply a static photograph. Online listing offers sellers the opportunity to not only have photographs of their property on display, but also a video. Virtual tours online take viewers on a journey through the property as if they were actually there. This extends the reach of the marketing campaign beyond the local buyer, to interstate or even overseas. No amount of print advertising has this kind of impact.

Database Filters Find the Genuine Buyers

Finally, an online listing holds property information on a database. The following information all form part of the search:

  • the street number and name,
  • suburb and postcode,
  • asking price,
  • the number of bedrooms and bathrooms,
  • car accommodation

This allows prospective buyers to filter the information so they see only those properties that have their interest.

All properties Position One Property has available for rent are able to be viewed on our website at this link: https://www.positionone.com.au/rentals/find-a-rental/ .  Also, any properties being marketed for sale are available for viewing at Armani Estate Agents.

Online real estate search listings reach more people, have more visual and psychological impact and weed out the “tyre kickers” from the genuine buyers. Sellers can still choose how much or little they spend on their marketing program, and with an online presence, their money is well spent.

 

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Selling Houses Is Not For The Faint Hearted

Like the retail industry, buying and selling real estate is built around providing a product or service to the customer. Just like retail, it is the process of identifying something people need or desire and providing them with that item. It also involves daily interaction with people, most of whom are polite, friendly and a delight to work with, and others who are not.

Most of Our Clients Are Delightful

As professionals in our industry, our people at Position One Property are experienced at dealing with all types of personalities. Part of their role is to remain calm and level headed when dealing with difficult clients, and to do their best to solve their problems. Sometimes the clients have the right to be upset when something unexpected spoils their plans, but sometimes we deal with clients who no amount of exceptional service will satisfy.
For example, we understand that buying a home is both an exciting time and also a very stressful one. Buyers are making a major financial commitment, either as occupiers or investors, and they want everything to be perfect. From our point of view, we can only assist to the extent of the information they have given us about their wants.

I Changed my Mind

After finding the ideal property, we are sometimes confronted with a buyer who asks us to negotiate the purchase, then changes their mind before the contracts are signed. Often they have no appreciation of the effort we have already expended but expect us to do it all over again on another property. Of course we do, because they are our clients and we are professionals.

Did I Have an Appointment?

Everyone is busy these days, so it is quite annoying when we arrange an inspection of a property at a time the client requested, and they either show up late or not at all. These days there is really no excuse. Almost everyone has a mobile phone and a quick call or text to let us know what is happening is just common courtesy.

Last Minute Changes a Frustration

Once we have negotiated sale terms verbally, the next step is to prepare the contracts, most of which are fairly standard, but which also contain additional clauses agreed on by everyone. Some buyers have been known to demand other changes after the contracts have been prepared, requiring us to get agreement from the seller.

Who Me? What Did I Do?

Often the buyer seems blissfully unaware of the drama, but contacts us continually wanting updates and asking what the hold-up is. While we do our best to be patient, this type of buyer wants everything done yesterday, but takes no responsibility for their role in the proceedings.

All is Well that Ends Well

Thankfully, this doesn’t happen often as most buyers are obliging and happy that we have found them a home they love.