CASE STUDY:
In this case study, we’ll look at how we helped a property investor achieve remarkable results in a very competitive rental market.
Our client – let’s call him Mr Jackson, is a property investor in his mid-40s. He works in a professional capacity for a large accounting firm in Sydney. He owns multiple investment properties Perth’s northern suburbs and is seeking ways to maximise his rental returns whilst maintaining a hassle-free investment experience.
Challenges
The challenges faced by our client are common amongst landlords and property investors. These include:
1. Tenant selection: Finding tenants who are reliable, long-term, who will pay their rent on time and look after the property as though it were their own.
2. Property maintenance: Ensuring the properties are well-maintained and any maintenance is addressed promptly.
3. Optimising rental income: Ensuring the rental income is set correctly and increased periodically to match current marketing conditions.
Our approach to addressing these challenges include:
1. Tenant Selection: We conducted thorough background checks and employed stringent tenant screening processes to ensure the tenants selected were suitable.
2. Property Maintenance: Regular inspections and repairs were undertaken when needed to ensure the properties were maintained in top condition. This helped retain existing tenants and attract quality new ones when needed.
3. Rental Income Optimisation: We undertook thorough market research at the end of the tenants’ lease and adjusted the asking rent accordingly. This significantly boosted Mr Jackson’s overall return on his investments.
Results:
The outcome from adopting this approach produced a very significant outcome for our client.
1. His tenant satisfaction improved which led to longer lease agreements and reduced tenant turnover.
2. Property maintenance costs decreased due to the preventative measures that were undertaken.
3. Mr Jackson’s rental income increased which boosted his overall return on investment.
Conclusion:
This case study demonstrates how a professional property management company can make a substantial difference to the success of a property investors portfolio. By working closely with his Property Manager, Mr Jackson achieved a higher return on his investment as well as a hassle-free investment experience.
As a property investor, it’s crucial to recognise the key benefits of a quality property management service and how this will increase your wealth through real estate. If you have any questions regarding property management in Perth, please feel free to reach out to us. We’re here to help you navigate the property market and remember, a well-managed property is key to the long-term success of your real estate investment.
