Empty Property, No Returns, High Vacancy Rates.
Agents work in the front line and have knowledge regarding supply & demand, seasonal issues, prospective tenants; their knowledge is worth it's weight in gold ..... and yes, unfortunately we can give you sound advice that you may not want to hear.
We communicate in so many formats, including routine inspection reports, photos and maintenance requests from tenants and we inspect your property every 6 months. We advise you if your property has slipped below standard, through wear & tear, lack of maintenance, plus what would be required to bring the property back up to standard.
In 24 years, 2 owners haven't wanted our advice or to spend money to maintain their property . As a result their properties constantly attracted below standard applications from prospective tenants. Then it becomes a vicious cycle for my property managers to chase maintenance requests, disgruntled tenants because property maintenance isn’t done so they vacate or worse we are chasing arrears, VCAT hearings, properties that are empty for extended periods of time and then history repeats itself. Causing so much work for all involved and loss of income for the owner, with the agent being blamed.
The unfortunate thing is that the next agent and the agent after that are going to be faced with the exact same issues which has already been demonstrated by properties in poor condition, being vacant for extended periods.
The rental market is always strong in Horsham with low vacancy rates but good tenants are demanding properties of a good standard at all price levels. This leads to a vicious cycle for landlords that don’t keep their properties up to par. With no rental income, pressure is unduly placed onto agents to secure tenants, forcing us to secure tenants that we wouldn’t normally lease to due to average rental histories or young first time tenants, with no history.
I have sold properties in the past because landlords don’t want to spend money and then ultimately get frustrated because they remain vacant and don’t consider them to be a good investment anymore, which they aren't. New owners have then taken advantage, renovated, increased the rents, increased the standards of tenants applying and ultimately the value of the property.
Unfortunately some owners may be disgruntled with me for telling the truth, that’s unfortunate, but myself and my property managers wouldn’t be good agents if we told you anything less.
Our advice over the years has been sound advice to all our landlords regarding the status of their property, with their best interests at heart, as a valued landlords.
With 24 years of experience, I thrive on working with investors like yourself, to give you the best local market insights to maximise your returns and increase your profits. I have built an excellent team of Property Managers that take pride in their roles.
It’s all about rent increases, low vacancy rates, the right mix of good well qualified tenants, advice on market trends, supply and demand advice at rent review time, maintaining your property standards, inspecting your properties twice a year, on call for emergencies 24 hours a day, knowing the legislation inside out and exceptional marketing on 15 websites to attract great tenants.
Every $ of extra income from this property equates to a greater returns for you and directly maximises the sale price/equity in the future.
I enjoy talking about my favourite subject - Real Estate, give me a call today. Nola 0418 504 855
Nola Brown | Licensed Estate Agent / Director | Horsham Real Estate.