One of the more valuable steps that you can take as a property investor is to employ an experienced property manager to manage your investment property throughout its life cycle. There is a myriad of tasks that are involved with renting your property and a property manager can assist with navigating through those tasks and

One of the more valuable steps that you can take as a property investor is to employ an experienced property manager to manage your investment property throughout its life cycle. There is a myriad of tasks that are involved with renting your property and a property manager can assist with navigating through those tasks and free you up to focus on other areas.

Prepare your property for market

A property manager can assist you with preparing your property for the rental market. They will go through the home with you and make suggestions on any improvements that may be needed, advise potential rent returns, and point out maintenance areas that you may need to be aware of in the future. 

They will market the property to prospective tenants and show them through the property to gauge interest and gain applications on the property. A good property manager will process applications thoroughly and advise you of the suitability of the applicant. In the end, it will be your decision on the successful applicant. 

Prepare documents and comply with legislation

A property manager will take the pressure off documentation as they are across the legislation, regulations and requirements and will prepare all necessary lease, condition report and required documentation for the commencement of the tenancy and sign on your behalf with the tenant.

They will speak with you prior to the signing for any special conditions that may be required and discuss any changes that may need to be made, lease terms offered and the material fact that might need to be disclosed.

Manage the property and the tenancy

Throughout the tenancy, there are bound to be repairs and maintenance that are required and issues that need attention. A great property manager will contact you to advise of the required work and arrange trades to carry out the repairs needed.

They will also speak with the tenant about their obligations on repairs and maintenance and manage any challenges before they become larger issues. Great property managers will inspect the property in line with legislation requirements and provide professional recommendations for improvements that may be needed to plan for the future.

Experience to manage all property management challenges

From listing to finding a tenant, managing the tenancy, vacates, inspections and overseeing renovations, our property management team has the experience to guide you through any hurdle that comes in your investment and make it seamless. 

They will take away the pressures that can come with renting your home and will ultimately help you maximise your investment now and into the future. 

If you would like to know more, contact our experienced property management team and talk about how we can help.

Selling

The property has exchanged either under the hammer at auction or through negotiation in a private treaty sale and the first step is done. So, what comes next?  There are still a few steps before settlement can go through and some key areas to be aware of in the lead-up to the final sale of

The property has exchanged either under the hammer at auction or through negotiation in a private treaty sale and the first step is done. So, what comes next? 

There are still a few steps before settlement can go through and some key areas to be aware of in the lead-up to the final sale of your home. 

Cooling off and legal documents

As part of the exchange, there will usually be a cooling off period that allows purchasers to rescind their offer on the property should all not go according to plan. 

The cooling-off period varies from state to state and can be anywhere from three to five days except in the case of an auction in which the cooling-off does not apply. 

Solicitors or conveyancers will also be engaged and will manage the legal contracts and required documents for the exchange of contracts and the eventual settlement. 

Discharge of mortgage obligations

For a settlement to go through, your solicitor or conveyancer will need details to ensure that the mortgage can be discharged with your financial institution.

In cases where the sale price does not meet the amount to discharge the mortgage, they will advise you to discuss options with your financial institution to ensure the remaining debt can be settled. 

Should there be challenges with the mortgage over the home, it may hold up a settlement or the sale could be withdrawn.  

Arrangements for your new property

If you haven’t already thought of your next move, now is the time to arrange where you will be moving to. 

Will you need to rent for a period of time or have you found another property to purchase. You may need to arrange for bridging finance over your new purchase between the settlement dates of both your sale and purchase and your financial institution can usually discuss options with you.

Settlement Day

It is recommended to move to your new home at least a few days prior to settlement so that you can arrange for any cleaning and repairs to be carried out at the property. This will also reduce the likelihood of settlement being held up with any potential issues.

On settlement day, the solicitors or conveyancers for both parties will oversee the exchange of funds with the banks, the discharge of the mortgage and payment to any utility companies, rates and levy balances and required transfer taxes and requirements. 

Then, it is handing over the keys to your agent and saying farewell to your property and looking toward your new home.

If you have any questions about the sale and the steps after the exchange, chat with our sales team today.