One important chat landlords NEVER have with their Brisbane property manager!
Here’s a question for Brisbane landlords (and you have to be honest with yourself when you answer this!) Have you ever had a solid conversation – not a passing quick comment but a two way, informed and detailed discussion – about the real ‘health’ of your rental property? An under the bonnet look at its current rent and position in the market? Its maintenance history, future upgrades/repairs, ideas on broadening its rental and sale appeal? Have you chatted with your Brisbane property manager about its neighbourhood and how that’s changing? Broader trends impacting its value?
We know the answer is almost always “NO”! Yet it’s some of the most important info you absolutely should know when you own a rental property. So here’s why:
Your Brisbane property manager is flat out managing your property and tenancy, chasing rent arrears and leaking taps and lease renewals and keeping on top of the day to day. That’s what you pay us to do. And in years gone by some very tight (and scary) legislation said real estate agents should not get anywhere close to giving financial advice to their clients. So we all steered well clear of anything that could look/sound/smell like that.
But here’s the problem.
You probably chat with your accountant about your tax return. Maybe your lawyer about a sale or purchase. But few landlords have anyone to turn to for ongoing property advice. Are you really fully aware of its current condition? Are you tracking your rents and their full potential against the market? What is the latest local intel? Maybe you live on the doorstep of your investment property and know about new bridges and schools and major developments. But many of us don’t.
Do you have a plan for this property? Not a financial plan – you need a licensed adviser for that. But a plan to maximise your market appeal and minimise your vacancy. To look after your current tenants and lengthen their stay. Do you know what might have held you back the last time it was vacant? Something small that could be added that a new tenant would highly value? (Spoiler alert – one of Brisbane tenants’ top 10 could cost you less than $200!)
And here’s an embarrassing admission… Up until recently Bees Nees Realty didn’t really offer this “Property Health Check” as an everyday part of our service either. I’ve been working in property management for 30 years and I don’t know any agency that’s ever had a dedicated member of their team doing this. In 2020 we recruited our first Client Service Manager, Ann-Marie Kerry. Ann-Marie is a Brisbane landlord herself and understands the highs and lows of being a property investor. So today she’s busily assisting all our clients with their Health Checks (via phone calls or Zoom) and doing these thorough reviews. Helping our landlords think about the bigger picture and the plan for their property.
Ann-Marie says the feedback from our clients so far has been really positive: “Landlords have appreciated the personal approach and especially the updates on the latest rental stats for their property area along with local intel. I have all their info up on the screen while we chat and they come out of it feeling far more informed and better equipped to plan.”
The truth is this: a property manager is highly focused on daily tasks and you need to chat with someone who can take a more ‘helicopter’ view. A specialist with all the insight on your property from the property management team, added to day to day knowledge from our sales consultants, plus our local market data and reports.
We can’t tell you about your personal finances or if this is a good investment. But we can help you assess all the detail about the property – past and present – and provide all the info that could maximise your returns into the future.
If you’re a Bees Nees Realty landlord client click through to book a calendar time for your Health Check with Ann-Marie. Or for more info on our Brisbane property management service please chat with her on firstname.lastname@example.org or 07 32146899