The “headache” of managing a rental property includes tenant relations, maintenance/repairs and financial management. The support of a skilled property manager in any of these areas will relieve stress and make owning real estate enjoyable and headache free. We share our 5 tips for stress free rentals in the bustling Brisbane market.

1. The importance of professional photography
Professional photography is an important part of attracting great tenants and maximising your return on investment. Great photos help to make your property look and feel higher quality, attracting better tenants. Look to hire a photographer who is experienced with photographing homes. Capture multiple angles of your property, ensuring the bathrooms and kitchens are photographed. Ensure that you use high-resolution versions of the photos in all marketing for your property.

2. Ensure you get landlords insurance
Be sure to have the correct cover for your investment property. Many owners think that their property is covered under the standard insurance cover while having a tenant in place. This is not the case as you are not covered for loss of rent, damage caused by a tenant and much more. It’s too hard to accommodate for circumstantial changes, such as death, divorce or a loss of a job.

3. The importance of regular routine inspections

Regular routine inspections should be carried out to ensure the property is well cared for by the tenant and to check if there are any repair, maintenance or health and safety issues. A routine inspection is not a housework inspection; the person inspecting the property should appreciate that people are living there. However, the tenant should have the property in good condition on the day of inspection and a list of items to consider is set out below.

As part of the maintenance inspection inside and outside the rental property, property managers/owners may also:

• check for any water leaks, evidence of pests, damage or deterioration to the property
• ensure any inclusions and property fixtures are working
• look at any future maintenance items that may need to be addressed.

4. Find quality tenants

With better tenants comes fewer headaches and less stress. Screening prospective tenants is one of the most important jobs property management companies do. They  verify factors like employment, income and credit history of prospective tenants. They also review past lease history and run criminal background checks to find tenants who are honest and reliable. 

5. Use a specialised smoke alarm technician

Make sure you use a specialised technician to install and regularly check your smoke alarms. An experienced property manager will ensure that an industry expert checks the alarms in your property in accordance with the legislative standards of Australia. If there is a fire at your property, this will give you peace of mind.

Invest in an experienced property manager

Consider a professional property manager for tenant relations in your cash flow calculations. An experienced manager will collect rents, but more importantly provide better tenants, higher rents and efficient removal of problem tenants. For maintenance and repair issues, you can choose to outsource or do it yourself. While you will need to keep control of expenditures and the bank accounts, a property manager can help with the bookkeeping headache.

Reg Strow Real Estate – celebrating 50 years of experience in property management in Brisbane

Property investment is a big responsibility but with the right property management company, it can be a profitable and rewarding venture. Reg Strow Real Estate has over 50 years of experience in Brisbane real estate, specialising in residential sales and property management. You can rely on our dedicated team to look after you whether you’re looking for your dream home, purchasing your first home, buying an investment property or needing a property manager. Contact our team today on 07 3848 9433 or via our contact page to discuss how we can assist you.