This reluctance often ends up costing the property owner long before they take the necessary action.
The main reason property owners attempt to ‘ride it out’ with the existing property management is the anticipated hassle of terminating the agreement and how that will affect the tenancy of the property and stress is greater for offshore landlords.
There are many reasons to start afresh with another property management company. Non collection of rent makes it to the top of the list for most landlords however there are other gripes including property managers failing to act on requests to put up the rent.
Keeping the rent above inflation is well known however what’s not so blatantly obvious is the need to ensure your investment is working hard to achieve it’s potential revenue (rental income).
Property maintenance is usually suggested in property inspections and executed to keep the status quo i.e. same rental income. Stake Property Rentals however look at your investment more holistically – with an aim of ‘improving the rental value’ of your property. Nice!
Recently a disgruntled property investor engaged Stake Property Rentals to manage a property after experiencing poor management. Stake didn’t just look for a tenant they promptly put their maintenance team to work – tidying up the property first then they secured tenants willing to pay an extra $50 per week!