It seems to be accepted that when appointing a contractor to do work on an investment property that the cheapest quote is always the best. This accepted rule of thumb couldn’t be further from the truth. We have found that the cheapest quote is not necessarily the best quote at all. When appointing a contractor to do work on your investment property we take into consideration a host of factors determining contractor’s suitability to do the work. Other than price…

Your property manager understands that a secure tenant equals a secure income. If your tenant is on a fixed term lease, they will feel secure and that feeling will often translate into a renewed lease when it comes time to extend that invitation. Many people may never own their own home, either by choice or by circumstance, but feeling like the house that they rent is home will reward you, the landlord in two ways. Firstly and most obviously with…

Once you have found the investment property that you intend to purchase, there are many things that should be top of mind for every property investor. When thinking of appointing a property manager to manage your property, many property investors initially thinks that fee is the first and main thing to take into consideration. Of course, we are all price conscious these days and it would be unwise not to take your property manager’s fees into consideration. However, when viewed…

When your property manager suggests professional marketing for your investment property take the advice for what it is. As in the marketing of properties for sale in which well-marketed properties sell quicker, the professional marketing of your investment property will capture the attention of quality tenants over the standard forms of rental marketing. Professional marketing also assists in getting your property leased quicker and at a higher rental. The additional marketing costs are soon recovered by a minimal vacancy period…

Ensuring a continued tenancy is paramount in order for you to budget for regular and ongoing rental income. Not only this, but a tenant on a fixed term lease on an ongoing basis means more income, as the property will not become vacant or suffer additional wear and tear through the tenant vacating and a new tenant moving in. We understand this and will, with your consent, approach your tenant prior to the lease expiring to invite them to renew…

Many property investors are not aware of the current value of their property and as a result are unaware of the equity they hold in their property(s). By utilising the equity that you have in your investment property, you may be able to purchase another investment property and in some instances with no or little additional out of pocket expenses. Simply call M Residential and we can arrange a market appraisal and we may be able to assist you in…

We understand that prompt and ongoing rent payments are the lifeblood of property investors. We suggest that rent levels should be maintained at or slightly below market rent levels in order to keep pace with increasing costs and to ensure that the tenant does not vacate due to an above market rent increase. When recommending a rent increase to you we take into account the nature in which the tenancy is being conducted, how the property compares with others that…

It is natural to obtain more than one quote when undertaking major work around the family home or investment property such as replacing a stove, repainting and re-carpeting. In the majority of cases, most people obtain two quotes to ensure that the best deal is being obtained. All too often however, property investors call for a third quote. We, at M Residential have found that a growing number of contractors are now charging for quotes (which is reasonable when ‘bargain…

The winners have been announced for the LPMA 2014 Awards for Excellence. Local property management business M Residential has won the Best Property Management Website Award. LPMA is an elite group of professionals made up of the very best property management practitioners and companies. They are at the forefront of Australian property management practice, and their Awards are highly sought after. By being announced as the winner, these firms and individuals are recognised as the very best in the property…