Achieving a good return on investment (ROI) on a residential investment requires careful planning and execution. It also requires diligence and support from the property manager. The old style of “set and forget” property management can no longer get landlords the best return on their investment.
At NextGen, we understand the importance of maximising our landlords’ return as we are landlords ourselves and manage our own properties through the same process.
We know that it takes sacrifices and effort to purchase and hold on to an investment property and we are fully aware of all the risks that come with it. We know and live ourselves through the pain of interest rate rises, ever increasing insurance and maintenance costs, and tenants that fall into financial difficulties. We also know that we have to work hard for ourselves and our customers to achieve the best return possible.
Here are some of the things we actively do to achieve maximum return for our NextGen landlords:-
1. We make sure to maximise the rental income whenever the opportunity presents itself. We achieve this by
- Advertising vacancies early and agressively. This allows us to test the market and being aggressive,
- Constantly reviewing the rental performance of our properties and the market,
- Doing regular research then taking advantage when opportunities present themselves (such as the current undersupply),
- Staying on top/ahead of market condition and the general industry and Australian economy, and
- Choosing hard work (i.e. hard conversations with tenants) over the light work that property managers often choose to (ie avoiding the hard but fair conversations so as to not rock the boat).
2. We make sure to minimise long term expenses by using a trusted set of tradies and suppliers. Our tradies are reliable and their work is always guaranteed.
3. We make sure to not over-expand as a business and not lose our personal touch, ensuring that we do not forget our properties and our landlords’ needs. We have made sure to have a manageable ratio of portfolio size per property manager, and to provide our property managers with a lot of support so that they which means that every property or ours and their landlords are not just numbers. Furthermore we have processes in place that make sure properties are not lost in the system. Rent and lease reviews are done like clockwork every year. We also make sure to kick off reviews 90 days before they are due, hence making sure to not have a delay on when new conditions kick in.
4. We always make sure to increase the rental value of our properties, but without wasting any of our landlord’s money. Increasing the value of the property helps us get a higher rental return but also adds value when our landlords’ banks request valuations. A cared for property, not only is easier to rent but attracts a higher rent. Our recommended upgrades – such as new carpets, licks of paint, new blinds and often new light fittings – are designed to achieve the maximum rent a property can command.
5. Last but not least, we make sure to always support our landlords: We do this by
- Making sure they achieve the long term benefits of bricks and mortar investment investing,
- Giving them value for money options when it comes to repairs and upgrades
- Advising them of how to protect them as much as possible (through insurance options, tribunal options, debt collection agreements, rigorous routine inspections),
- Making sure they know where they stand legally and to get favourable outcomes at Tribunals, and by
- Connecting them with a trusted network of professionals such as Surveyors and Mortgage Brokers when required.
Achieving the best return on investment for the landlords that choose to come with us, is our mission. It is precisely why we formed NextGen in the first instance after witnessing – for decades – a property management industry that struggles to meet expectations.
We have chosen quality over quantity and in the process, we became the best property management agency in Sydney. Those that trust our property management services, will always be better off in the long run.
Who we are:
NextGen Property Mgmt (www.nextgenpm.com.au) is a boutique Real Estate licensed agency that specialises in property management. NextGen Property Mgmt does NOT has a sales team. We are considered to be one of the best property management agencies in Sydney. Our area of focus is residential property and we operate in Inner West, Eastern Suburbs, St George and South West Sydney. NextGen was created from its infancy to cater for investors as it was founded by investors who quickly realised that in a highly regulated industry like Real Estate – competence, expertise, care and service by property managers varies greatly.
As an investor, you need to have trust for and feel valued by your property manager. You need to know that your property and tenants are being looked after with minimal disruption, and you are getting maximum return on your investment. At NextGen we understand that, because we are investors living busy lives ourselves. Our promise to you, is that you will no longer have to worry about your most valued asset because we will make sure to take care of it as if it is our own. If you want to learn more about us just click here to organise a time for a chat. Or call us on (02) 9199 9628. We would love to hear from you and to share our story.