It’s still a great time to be a property investor
The great news for investors is that returns are not only excellent but are continuing to improve because we’re finding that we’re still able to gradually ease rents upwards.
This brings us to the point that it is vital for property managers to keep their fingers on the pulse of the property market.
We have recently had property owners transfer the management of their rental property to us because they felt the previous agent was not doing much for them.
In once instance just recently we found the rent had not been increased for three years.
Whilst that is a ridiculous situation it was also tough on the tenant because it meant that when we took the property over, the tenant was faced with a rise of $50 a week.
It’s much easier on a tenant to raise the rent in gradual increments rather than in one big swoop.