Trending rental market is good reason for rental management companies to promote good rental management services

Many years ago the Aussie dream of home ownership was both the promotion of government and your grandparents. The concept of being a renter for life was something you did in the UK not in the lucky country, Australia. Well rental management companies and property managers need to pay attention. The tide is turning and the need for continuing rental management services has become exactly that. A report released today by realestateVIEW.com.au presents research data to suggest that the many renters are in the market place for the long haul and they are not ashamed of being tenants. This is good news for the property owner who simply wants good people to, "rent my home".

 "The Housing Sentiment Report – examining the lifestyle preferences and affordability concerns of over 1200 buyers and renters – shows one third of tenants have been in the rental market for five-plus years, with affordability a major deterrent to entering the market.

What is preventing them from buying? 

• Half of renters believe they can’t afford a deposit; 
• 32% believe they can’t afford mortgage payments 
• 28% of renters haven’t bought a property because they can’t afford to buy where they want to live 
• 25% think the market is overpriced 
• 22% believe it’s cheaper to rent 
• 18% have difficulty obtaining finance 
• 16% don’t want to be tied down to one place because of a mortgage 
• 12% have already bought an investment property

As a property investor you need to take some of this data seriously and start to think about your role as a landlord. The future is rosy for investors but the rental success to be enjoyed will depend largely on the rental management company being engaged and the level of rental management services being delivered. Tenants are your customers and if you're not prepared to deliver excellent rental management services at least ensure you have a property manager who is. 

View my free report, 5 Costly Mistakes Landlords Make with their Investment Properties, follow the link for instant access. Written by Chris Snell, Property Manager, Rental Success Blog.

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Property Management Rental Property Nightmare - Fully Furnished Disaster Video

Leasing out your home as a rental property without the engagement of a good rental management company who can provide you with quality rental management services can present you as the landlord with problems at the conclusion of the tenancy. This video highlights the issues that you might be confronted with if you are not rent out your home professionally. There may be a few things that this unsuspecting landlord could have done at the start and during the tenancy to intercept and prevent some of the tragic things that has happened to them and their rental property. Avoid making the same mistakes - get your free copy of Costly Mistakes Landlords Make - a free report.
Submitted by Chris Snell, Property Manager, Rental Success Blog.

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Rental Management Companies - real estate agents lack ethics and honesty ...

Choosing the right rental management company is a complicated task nowadays given the large number of rental management companies offering rental management services. Whilst rental property management companies are beginning to present themselves as being different to sales companies, both are managed by real estate agents and the relevant statutory requirements. In fact every standalone office requires a licensed estate agent to actively operate and oversee the business.

Rental management services are often overlooked by owners and investors as they pursue discounted rental management fees. Believe it or not ... real estate agents and subsequently rental property managers are notorious for being untrustworthy and dishonest. In fact, the Roy Morgan Image of Professions Survey 2014 (Australia) has confirmed that real estate agents rank among the lowest trusted professionals in Australia. A sample size of 644 men and women across Australia were simply asked to rate or score people in various occupations for honesty and ethical standards. Roy Morgan's survey concluded that, “Once again Car Salesman (3%, down 1%) rank at the bottom of the list – a position they have held for over 30 years. The only other professions in single digits for ‘ethics and honesty’ are Advertising people (8%, down 1%) just behind Real Estate Agents (9%, down 3%).” Number one in the rankings were nurses followed by pharmacists and then doctors. At the bottom of the scale were car salespeople (30th), advertising agents (29th)and real estate agents at 28.

Focusing on rental management fees alone will come at the expense of good quality rental management services. The classic catch phrase of, "pay peanuts and you'll get monkeys", might be a little far fetched but it does beg the question, are rental management services more important in the long run than cheap rental management fees? Given that real estate agents have consistently ranked in the lowest end of the scale of ethics and honesty it might be time that you reviewed your current services agreement with your existing rental management company. Perhaps it is time you reflected on the rental management services you have received from your existing property manager during the past year. Perhaps it is time for you to visit some alternative rental management companies and seriously think about engaging a professional property manager from a credible rental management company who will deliver the proper rental management services you deserve.

Are you feeling uneasy about your rental management company and the rental management services being provided to you for your valuable investment property? Get this free report today, "landlord mistakes", it might be a good step in the right direction. Written by Chris Snell, Property Manager, Rental Success Blog.

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Mining Boom Cools and Vacancy Rate Booms in Western Australia

1 in 5 vacancies due to broken leases 
According to an interview between the Residential Property Manager Online News, Tenants are leaving the rental market in droves as low interest rates and affordability present a true buyer’s market in Western Australia. Speaking to Residential Property Manager, president of the Real Estate Institute of Western Australia (REIWA) David Airey said the rental market was undergoing a period of pain. “Things are definitely slow, we’ve had a big increase in vacancies across the state due to the downturn of the mining boom," he said. “The rental market is also suffering from tenants vacating properties in record numbers.” According to data gathered by REIWA, 20 per cent of all vacancies on the market are as a result of a broken lease, with the previous tenant becoming a first home buyer. The tenancy lease data gathered by REIWA is derived exclusively from members of the association and allows property managers to specify why the lease was broken. “We currently have a vacancy rate of 3.8 per cent, which means there are 4,500 properties available, an increase of 100 per cent from last year,” Mr Airey said. But Mr Airey said the market was due for a correction after booming for years. “We’ve had three years of extraordinary growth and owners are still enjoying good results from their investments, but I am expecting more pain before things begin to stabilise,” he said. Artcile written by Written by Steven Cross on Friday, 21 March 2014 http://goo.gl/omsdez shared by Chris Snell, Property Manager, Rental Success Blog

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Smart Investors Get Tax Depreciation Schedules

Tax Depreciation is something that every property investor should undertake. Whether you own one property or multiple properties, a tax depreciation scheduled prepared by an industry specific depreciation valuer can save you thousands of dollars by offsetting substantial depreciation offsets against the income yield of the rent property. Watch industry expert here to learn more: BMT Tax Depreciation is one of Australia's leading expert and are the only company I endorse to prepare quality reports for property investors. submitted by Chris Snell, Property Manager, Rental Success Blog

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A House of Horrors, Rental Property Nightmare

A HOUSE of horrors riddled with mould and infested with the stench of damp soil and cigarettes has been abandoned by public housing tenants, leaving behind a clean-up bill worth more than $20,000. Get your free report "landlord mistakes"

The five-bedroom house in a quiet Northcote street will take more than a month to clean and sanitise after eight years of damage and neglect from the former tenants.

Every wall in the house, which is only 15 years old, has new or patched holes.

Mould is creeping from the ceilings down the walls and the skirting boards in most rooms are rotten from moisture.

The tenants abandoned the property in January.

There were six people living in the house, including children.

get the full article at the Herald Sun Newspaper Group http://goo.gl/ytiKwF

nervous about your investment property? Get this free report today "landlord mistakes"

Submitted by Chris Snell, Property Manager Melbourne, Rental Success Blog
Source of edited article article - MICHELLE AINSWORTH - HERALD SUN  - MARCH 30, 2014 10:30PM

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