When you own an investment property in the Inner West, you don’t want to see long periods where your property is vacant. For every day the property is empty, that’s money you lose. When choosing a property management company in the Inner West, choosing one with low turnover, and a reputation for minimal days on the market should be high on your list.
At Belle Property Balmain, we have tried and tested procedures that ensure our properties are rented faster. More often than not, we have a new tenant ready to move in when your current tenant vacates.
So how do we do it? It all comes down to communication, research and good relationships.
Communication and relationships
Clear communication is an absolute key when it comes to managing investment properties. Our team does a lot of work to build a great relationship not only with yourself as the property owner, but with all your tenants as well. Our clear and straightforward communication also extends to prospective tenants. Communication, and keeping in touch with all parties, allows us to attract and retain the best tenants for your property.
With good communication comes great relationships. At Belle Property Balmain, we find that by spending the time building good relationships, we get to know your tenant and they get to know and trust us. We ensure that we know your tenant well enough to know when to advertise a property for rent. Some tenants are more than comfortable and willing to have open homes but when tenants aren’t comfortable, we wait until they’ve vacated the property. Some tenants also have a stunning flair for design that looks fantastic in photos, while for others, we’ve found that showing a vacant property is best.
Pre-marketing preparation
There’s a lot that goes into marketing your property for rent, and one of our highest priorities is staying in touch with owners in regards to any repairs and maintenance that need to be done between tenants. Depending on the age of your home, we may suggest a repaint, new carpet, or replacing ageing tap and handle hardware.
Another area we do like to stay on top of is gardening. After all, if you’re renting a house, the garden is the first impression that potential tenants will have of your property. Depending on the weather and on the contract with your tenant, we may suggest having the lawns mowed, and trees trimmed back to bring the property to life.
Market research and prospective tenants
In a rental market like the one we currently have, getting tenants through the door is rarely an issue. At Belle Property Balmain we have a list of prospective tenants on our books who have expressed interest in homes in the area. We’ll always inform them of any upcoming vacant properties we have, as well as any inspections we have organised.
Before we put any property on the market to rent, our property management team does extensive research into where rental property values are currently sitting. We determine a fair value for the property, and because of our knowledge of the area, we know what the market will bear. Our goal is double pronged: we get you the best price for your property while avoiding having it sit empty for even a short period.
Can we help with your Inner West home?
Whether you’re ready to sell or need help to rent your investment property, we have the experience and local knowledge to make your property journey easier.
Looking for help selling your home or renting your investment property? Our team at Belle Property Balmain support homeowners across Balmain, Balmain East, Birchgrove, Rozelle and Lilyfield. Feel free to get in touch for a no-obligation discussion or property appraisal.
