Yes, being a rental owner can be stress-free
Owning an investment property that you rent out to occupiers requires a careful balance.
On the one hand you have a significant financial asset that should provide income, on the other you have a responsibility to the rental occupiers who reside there.
If that sounds like a tricky weigh up, it needn’t be because being a rental owner can indeed be stress-free. Here’s how…
The right property
Owning a stress-free investment starts with the right rental property. The property needn’t be new, but it should be set up with rental occupiers in mind.
That means materials used should be hard-wearing, as opposed to the latest trend. The yard should be easy to maintain, and the property should be tidy.
Meanwhile, if there are features that require extra attention, such as a swimming pool or expansive yard, you might want to include regular maintenance in the rental agreement.
The bottom line is, whether you’re buying an investment or have an existing property that you intend to rent out, it pays to keep your potential rental occupier front of mind in order to provide a property that’s easy to look after and maintain.
The right property manager
A stress-free rental experience revolves around a great property manager, and there’s a big difference between average and great.
A great property manager will be proactive about your investment, working with you to achieve its rental aims.
They will communicate frequently, and not just when something goes wrong. In addition, they will proactively manage any maintenance and repairs, advise you on what should happen with your investment, seek out the best rental occupiers on your behalf, and manage them effortlessly.
In short, it cannot be stressed enough how important it is to find the right property manager to look after your investment.
After all, they are the intermediary between you and the rental occupier, and their advice and handling of matters is worth its weight in gold when it comes to maintaining and maximising the value of your asset.
The right upgrades at the right time
From time to time every rental property will need a little TLC, whether that’s in the form of upgrades, general maintenance and repairs.
As an owner, it pays to budget for these expenses as sometimes they can crop up with little or no notice.
It’s also critical to work with your property manager to keep on top of the minor issues that they flag before they become major problems.
As we mentioned before, a great property manager will be on hand to assist, offering their advice, securing the right tenants, and proactively managing your property as if it were their own.
How we can help
Our experienced property managers pride themselves on establishing great relationships with both rental occupiers and owners.
We manage every property as if it were our own, working with rental owners and occupiers to protect and enhance the value of an asset, while providing a stress-free experience.
You can learn more about our property management services here.