Tips on renting a property

Posted by gvgvasgvsz vgzavzAvv on Thursday, May 28, 2009

Finding a place to rent can be quite stressful, here are a few tips you may want to consider:

Be very clear in your own minds the type of property you want to rent
Research the areas that you want to live in, look at surrounding suburbs as well
Have a realistic budget in mind in regards to how much rent you can pay
Make sure that you do a personal budget to ensure affordability
Apply for a property within 24 hours as the market is still competitive
Provide as much information for the agent and owners
Don’t leave it to the last minute to look for properties
If you are moving from another rental property make sure you provide the right amount of notice

Feel free to apply for more than one property with Metro. We do manage properties here there everywhere. If you are unsuccessful with one property there is a good chance there are others available.

Visit our website at www.metropm.com.au
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Metro Property Management Investment Tips

Posted by gvgvasgvsz vgzavzAvv on Wednesday, May 20, 2009

Now is the time to buy investment properties, interest rates are still at their lowest ever and many properties are can be cash flow positive. This has been the message for many months now and certainly the current market conditions are bringing first time investors into the property arena.

Here are Metro Property Management Tips to consider:

Always ensure that you take sound advice prior to making the
investment decision

Know your numbers – what is the impact going to be if you purchase an investment property - on your income

Attend seminars/workshops before making any decision

Ensure that you work with financial advisors and/or accountants to a develop wealth building strategy

Purchase median properties that are in high growth areas, they must be easy to rent

The area must have good infrastructure like schools, parks, shopping centres

Understand how you can leverage off existing investments to add to your wealth creation

The goal is to hold onto your investments long term, however be prepared that they may be times you may have to sell

Get an understanding on the level of debt you are in or prepared to go into and what a safe or comfortable level is across your portfolio

Research but don’t delay, now is the time to take action
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Reducing Vacancies

Posted by gvgvasgvsz vgzavzAvv on Wednesday, May 13, 2009

As an investor in the property market vacant properties is a critical key issue.



A vacant property equates to no income which in turn has an impact on your cash flow and loan repayments.



If you property is being managed by an agent then here are some tips on ensuring minimum vacancy periods.



Marketing



Telling prospects that your property is available is the first critical step, today most potential tenants will search on websites such as realestate.com, realestateview.com.au and domain.com.au. As a property owner you should log onto these sites and ensure that your property is being marketed well.



The agent should have taken maximum number of quality pictures showing the property to its best advantage, a catchy headline that will grab the attention of prospective tenants, the body of the ad should sell the lifestyle the tenants could potentially have plus the local amenities available to them.



Time Frame



Your agent should aim to have your property on the market 4-6 weeks prior to it becoming vacant. They should provide you with feedback after open for inspections on things like number of groups that viewed the property, feedback received, applications made and general comments on the price of the property.



Within the first week your property manager should be able to confirm if the property has been priced correctly.



Improvements



Inspect the property and ask yourself would you apply to live there, if the answer is no or a maybe then you may need to do improvements which could be quite simple and inexpensive. A fresh coat of paint or adding a dishwasher can work wonders plus retain the market value of your property.



Ask your property manager for any suggestions on improvements, they would have got feedback from previous tenants and prospective clients attending open for inspections



Processing applications



It is important that your agent has a time frame in place to process applications and forward them to you for selection; best practise is at least within 24-48 hours of receipt of an application.



Your agent is your representative and is charged with ensuring that your property is well maintained and it continues to perform and obtain the best return on investment. It is important that you select not on what they charge in commissions but the service they provide. Remember you often get what you pay for.



Metro Property Management are the leading property management company in Melbourne, we manage properties here there and everywhere and our clients love to do business with us as we can deliver consistency and high levels of service.

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