Best Tips for Property Investors in Auckland, NZ | Property Management Education
We’re revealing our 3 top investing tips for anyone who owns Auckland rental property. When you do these 3 things, you’ll have a lot more success with your investment.
Marketing Your Investment Property
Make sure you’re using a good marketing plan when it comes to your property. You want to bring as many prospective tenants into the property as possible, because then you’ll be able to choose a better quality tenant. One way to attract great tenants is by using high quality photographs. Ideally, you’ll use a camera with a wide lens, and you’ll take photos on a sunny day. This will help your spaces look bigger and brighter.
Once you’ve drawn prospective tenants to your listing with exceptional photographs, you want good content that will show off the property. Positive features should always be included in the ad. Be sure to mention things like a fiber internet connection, double glazing, or that you’re close to a train station. Tenants value these things and if you include them in the ad, you’ll boost the demand for your property, and applications will come in.
Thorough Tenant Screening
The second tip is to have a really good tenant screening process. You need to do your due diligence so you can balance tenant risk and begin a tenancy that will pay off in the long run. Your screening process should include checking the tenancy tribunal database. It’s important to make sure the tenant has not been in the tribunal before. If a tenant has been there, you want to find out what the outcome was. Speak to previous landlords as well as employers, and do a credit check. All those things will help you set up a good tenancy.
Conduct Regular Inspections
Our final investing tip concerns inspections. Make sure you’re doing your inspections, and don’t wait. A good time for the first inspection with a new tenancy is one-month in. This puts your tenants on notice that you have a vested interest in how the property is being treated. You can also get an idea of how the tenant is treating the home. The biggest benefit to doing continued inspections is that you can check for unreported maintenance issues. It is undetected maintenance issues that will lead to more expensive and complicated repairs down the road.
If you are interested in Auckland real estate investing, make sure you pay attention to these three things. When you have any questions about our tips or Auckland property management, please contact us at Walker Weir Property Management.September 29th, 2016