Benefits of using LJ Hooker Property Management
Should you use a property manager or not?
After purchasing your investment property, the next key decision you will need to make is whether you will employ a property manager to help you, or whether you’ll manage it yourself.
Although many investors are financially-savvy, when it comes to finding tenants, dealing with day-to-day property issues or legal jargon they are left in the dark. LJ Hooker’s team of experienced property managers can help make sure you receive a reliable income stream, excellent capital growth and the best returns possible - as well as a guarantee of exceptional customer service.
You will receive regular and thorough property inspection reports, copies of all important documents and regularly review rent rates and the local market to help you achieve the best outcome.
We take the hassle out of everything from the day-to-day financials to maintenance - and all the details in between.
A property manager costs approximately 7-10% of your total rental income, however the services and expertise offered by a good property manager is worth much much more than this fee, plus in many cases the agents service fee is tax deductable.
The key roles of an LJ Hooker Property Manager:
- Advertising your property for rent
- Open your rental property for viewings
- Screening tenants including reference checks, rental history review
- Manage the condition report process
- Manage the tenancy agreement signing process and handling questions
- Manage your financial accounts for the investment property and provide regular reports
- Inspect the property on a regular basis
- Organise tradespeople for repairs and maintenance
What are the benefits of using an LJ Hooker Property Manager?
Fewer problem tenants - experienced property managers see hundreds of rental applications and are experienced at screening tenants, reference checking and reviewing rental history to ensure you receive high quality tenants. You of course have the final say as to who rents your property.
Avoid unpleasant confrontations - They are a buffer between you and the tenant - a property manager will help deal with problems such as late payments through to damaged property.
Tenants have someone to talk to right away - if an issue happens with the property, property managers are more accessible to address problems all hours of the day. Our negotiating power with tradespeople ensure you get the best price on all maintenance jobs.
Decrease tenant turn over - good property managers know how to keep their tenants happy and happy tenants are more likely to want to stay and renew their lease.
On time rent - good property managers will work to ensure your tenants pay their rent on time. Consistent rent collection is the key to receiving rent payments on time and they will enforce lease policies if payments aren’t received.
Less stress - someone else is managing your property and tenants so you don’t have to worry as they will do most of the work for you.
Strict legislative requirements - Private owners are bound by the same legislative requirements as property managers in their dealings with tenants. This means that if you are taking the task on yourself, you will need to stay up to date with constantly-changing legal requirements. So choosing a property manager to manage your investment property can be a wise decision that may save you time and money over the long term.
Comprehensive Insurance - You'll also find that landlords who enlist the help of a property manager may be eligible for more comprehensive insurance cover and other advantages.
Qantas Frequent Flyer Points - When you appoint LJ Hooker as your property manager you will receive 10,000 Qantas Frequent Flyer points to spend on a holiday of your choice
Reduce your Risk - By engaging a property manager you reduce the chance of having a vacant property therefore lowering your risk of lost income.
Interview Questions To Ask a Property Manager
Of course, that's not to say that the interview isn't a crucial part of screening your tenants. Like any interview, choosing the right questions to cut through the waffle and get the necessary information is a vital part of the property manager's role.
- Are you the property manager who will be managing my property? If not who will it be?
- How many properties do you and your company manage?
- How would you market my property and attract the best tenants?
- How do you screen tenants?
- How many tenants on your books currently are in arrears with their rent?
- What action is taken if a tenant is behind on rent?
- What happens if my property needs urgent repairs / maintenance?
- How many inspections do you do each year and what is the cost for these?
- How do you communicate with landlords and how regularly
- What is the full cost of management? Please detail all costs and fees and show where GST is payable?
- What is your estimate of the weekly rental potential of the property?
- How can you ensure I receive the best returns for my property?
- What differentiates you from other property managers?
Why Choose LJ Hooker
1. The Agency
With over 150,000 properties under management (totally $89 billion), LJ Hooker is Australia’s largest provider of property management services. LJ Hooker is Australia’s most recognised brand, meaning, more people come to us when thinking about a property transaction. This gives us more people to work with when we are negotiating a new tenancy for you.
2. The Team
Dedicated and highly trained property investment management professionals are committed to providing you with the best real estate service and advice.
3. Market Leaders
Our agency is one of the market leaders in the area. With $21 Billion in annual residential and commercial sales in 2016 and excellence in property investment management and leasing and managing in excess 150,000 properties, LJ Hooker has established itself as a market leader.
4. Marketing Success
You only get to the top by results, and in property investment management that means a high occupancy rate.
5. High Profile
Highly distinctive signs set us apart from other agents. Large colour ‘For Lease’ signs attract enquiry.
6. Internet Services
Ljhooker.com can assist you with all your real estate needs. Our website regularly has over 1 million visitors a month! This ensures your property is seen by all potential tenants in the worldwide market. It’s a real marketing advantage.
7. Rent Lists
Detailed lists are dispersed each day via email and handed out at Reception. Using up-to-date technology, our lists display photographs and detailed descriptions of properties available for rent to help maximise prospective tenants to our listed properties.
Our agency is able to offer a full service network via our network relationships and technology.
LJ Hooker has been servicing the area since 1928. During that time we have built a reputation of providing outstanding service to our clients throughout many phases of their life-long dealings with property. They come to us first as tenants and first home Buyers. They return when they upgrade to second or third homes, and we see them again as property investors.
All LJ Hooker staff regularly attend training, both external and in-house, and are fully briefed in all facets of industry related Legislation. Our philosophy is to provide the best service with ethics and to ‘best practice’ standards.
Regular newsletters are produced and distributed to our large customer base, which includes present and past sellers, investors, financiers, legal advisers, building contractors, etc. We keep our clients informed.
LJ Hooker is committed to providing best practice property investment management services to clients and customers. We receive numerous accolades for our service from both property investors and tenants alike. Many tenants hand their investment properties to us to manage because of our professional services delivered throughout their tenancy.
13. Commitment and Care
LJ Hooker is committed to excellence and results. We care about each customer and their personal needs and we strive to work hard to achieve their goal. We understand the importance of communication with our customers and ensure prompt feedback and relevant information and advice is provided.
We understand that communication is the key to our relationship with you and whether it is ‘good’ news or ‘bad’ news, we won’t keep it from you. We also keep you updated with progress and activity reports, relating to your property and tenants. Direct email access to your property investment manager is a quick and efficient option available to you.
15. Peace of Mind
Our experienced property investment managers handle the task of maintaining your investment, through routine inspections and rent reviews. Our goal is to increase your income and ensure your investment is working for you with minimal hassles.
16. Savings and Reliability
Each month we forward you an itemised statement showing all rental income and payments made on your behalf. We electronically deposit your money as cleared funds, into your nominated account within 48 business hours; no waiting for cheques to clear. We keep you informed every step of the way so there are no ‘hidden surprises’ when you receive your statement.
Interested in finding out more about property management services with LJ Hooker?