Blog

Managing Your Investment Property Lease Renewal During the Holidays

Over December and January is a tough time to lease an investment property. With vacancy rates peaking early in the New Year, tenants have more choice and are in a better position to negotiate.

If you can avoid having to deal with your investment property lease renewal during the holidays, you’ll save yourself a lot of unnecessary time, money, and worry.

But if you must find new tenants during the holiday period, how can you best manage it?

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Licensees Need a Real Estate Locum Too

Locum jobs are common-place in the medical and healthcare fields. Typically, a locum doctor will temporarily stand in for a permanent doctor when they are on leave. What about a real estate locum?

Recently, ‘locumming’ has become more common in other industry sectors, such as legal, pharmacy, business and namely real estate and property management.

Like many businesses, being the principal or licensee of a real estate agency can mean long hours and a lot of administration and paperwork.

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Which property management style is right for you?

Given the high property prices in many cities, particularly in Sydney and Melbourne, many first home buyers are purchasing property in areas where they can afford but choosing to lease it out and live elsewhere. This has meant an uplift in the number of first-time landlords in the market.

Like many Firsts, becoming a landlord is both exciting and daunting. It’s a great way to earn ongoing income and take advantage of some of the tax breaks offered on property expenses.

But the business of being a landlord involves risks and responsibilities and requires active management, as well as the very important decision on who will manage the property.

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Suburb Profile: St Leonards NSW 2065

 

Located on Sydney’s Lower North Shore 5km north-west of Sydney CBD, St Leonards is a vibrant suburb popular for professionals looking for easy access to restaurants, cafes and schools and a comfortable commute.

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Should You Hire a Professional Property Manager?

Property management has been around since ancient Roman civilisation – where Grecian cities appointed men to manage properties and collect rents.

Fast forward to the modern day and the role of a property manager has without a doubt evolved to encompass far more than rent collection.

What has changed in recent years though, is the question of whether a landlord should self-manage or hire a professional property manager.

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