Sydney property management can be a very promising route of investment for potential landlords. It is important to make sure before acquiring your land that you consider location. Sydney is a very popular city with a unique culture and when purchasing property make sure you know for whom you would like to cater for. For example if you are in the bustling city of Sydney close to transportation it is a good idea to cater for business people and if you choose a quieter part of Sydney it may be a good idea to cater for this seniors or families. This will ensure that your Sydney property management will be profitable and not vacant.
A very important aspect of Sydney property management is periodic property inspections. This is a routine visit by the property manager to the tenant’s house. This is meant to:
- Monitor tenant performance and maintain the property and lease requirements while minimising potential risks associated with the condition of the property
- It also develops a good channel of communication and working relationships with tenants as it gives you an opportunity to talk about issues of the property.
- It is a great opportunity to determine whether the tenant has any concerns he/she may not have brought to our attention
- It will allow you to update information about the number of people in the household and their contact details
- You may also confirm that the tenants are meeting their obligations under the tenancy agreement including: property condition, payment of rent, and arrears management.
- You may also address any issues relating to nuisance, quiet enjoyment, tenant responsible maintenance, dirty/unsafe common areas, and any other housing issues
These periodic searches are a good tool for Sydney property management organisations and investors as it allows you to evaluate any problems that have come up and find possible solutions through open communication channels. This therefore achieves an easier handling of Sydney property management. Before conducting the search there are a few considerations to make including:
- Who is supposed to be living in the household?
- Any nuisance or annoyance matters involving the tenant or his/her neighbour
- Any money owing by the tenant
- Any outstanding maintenance
- Any proposals for planned maintenance/upgrades that will affect this tenancy
- Any outstanding issues which the tenant may have raised
- Review the content of previous inspection reports
- Review the Tenancy Agreement and the Management Agency Agreement for any special requirements/items
- Does the office hold keys, is there an alarm code?
- Is there a pet that may require special care?
Preparing for these searches and undertaking them in a timely and efficient way is important for successful Sydney property management. If these searches are not undertaken then you may face disagreements with tenants and damages that have been made by tenants will not be recognised and end up costing you high maintenance repair costs.