Am I a Mortgage Broker? No.

Am I an Accountant? No.

Am I a Financial Adviser? No.

 

I am, however, a Property Manager who understands the financial pressures that come with owning an investment property.

 

While I can't control your borrowing costs, I can help you manage the property, its tenancy and the things that influence its rental performance.

 

Let's be realistic about what property management can and can't do.

 

Your Property Manager cannot:

• Reduce your mortgage interest rate.
• Change your loan structure or repayment arrangements.
• Guarantee rental income or eliminate vacancy.
• Guarantee that your property's value will increase.
• Guarantee that rental increases will be supported by the market.

They can, however, help manage the things within their control: the tenancy, rental performance, maintenance coordination, compliance and communication.

 

While your Property Manager can't control interest rates, mortgage repayments or the wider economy, they do have an important role to play in helping you manage the property effectively.

 

And it's worth asking: is your current property management service doing enough to support you?

 

What can a good property manager do to help?

 

1. Retaining good tenants

Retaining suitable tenants can be a valuable part of managing an investment property.

If you have good tenants, your Property Manager should be working with you and the tenants to maintain a positive relationship. That means responding to reasonable requests, keeping on top of maintenance and treating tenants fairly.

 

Landlords are feeling the pressure of rising costs, but tenants have their own financial pressures too. There is only so much money available in a household budget.

 

A good Property Manager understands that balance and can help you make informed decisions about rent reviews, tenancy renewals and the value of retaining a suitable tenant.

 

2. Reducing lost rent through vacancy management

When a tenant leaves, there will often be a period between tenancies. The aim should be to minimise unnecessary delays without rushing the process or compromising the quality of the next tenant.

 

Planning ahead, understanding when a tenant intends to leave, arranging advertising and inspections promptly, and identifying any maintenance or presentation work early can all help reduce avoidable vacancy periods.

 

3. Staying on top of maintenance

Maintenance is an ongoing cost of owning an investment property.

 

Regular property inspections and prompt attention to maintenance issues can help identify problems before they become more serious and potentially more expensive to resolve.

 

Not every repair can be avoided, but staying on top of maintenance can help protect the condition of your investment and reduce the likelihood of preventable costs escalating.

 

4. Making sure your rental return reflects the market

If the costs of owning your property are increasing, it's understandable that you may want to review the rent you're receiving.

 

But are you relying on current rental market evidence, or are you simply picking a figure and hoping the market will accept it?

 

Your Property Manager should be able to provide comparable rental information and explain how your property sits within the current market.

 

This is particularly important when considering a lease renewal or preparing to advertise for a new tenant. You should understand what similar properties are achieving, what competition is available and whether your proposed rental figure is realistic.

 

A rent increase that looks good on paper may not be the best outcome if it results in losing a suitable tenant or leaving the property vacant for longer.

 

Remember, any rent increase must comply with Queensland tenancy legislation.

 

Questions worth asking your Property Manager

You may like to ask your Property Manager a few questions to help you better understand how your investment is being managed:

1. When was my property's rent last reviewed against comparable local rentals?
2. How does my property compare with other rentals competing for tenants?
3. Are there any maintenance issues or upcoming expenses I should be aware of?
4. What are we doing to encourage the current tenant to stay?

Are you getting the service you should expect?

If your costs are increasing, it's more important than ever to understand what's happening with your investment.

 

Are your rental reviews based on actual market evidence or a dartboard? Are maintenance issues being addressed before they escalate? Are you being kept informed about your property and its tenancy?

 

You shouldn't have to chase your Property Manager to understand what's happening with your investment.

 

Your Property Manager can't control the economy, but they should be taking responsibility for the things they can control.

 

If you're concerned about whether your investment remains financially suitable for you, it's worth speaking with your mortgage broker, accountant or financial adviser. Your Property Manager can provide information about the property's rental performance, but financial decisions should be made with the appropriate professional advice.

 

At Proximity Property Management, I believe landlords deserve to know their investment is being properly cared for, not simply processed.

 

If you'd like a straightforward conversation about your investment property or the service you're currently receiving, I'm happy to chat.

 

Closer to your property, so you don't have to be.