Reasons To Choose Our Team To Manage Your Properties
Poor Property Management Severely Damages Your Investment.
Find out about Wealth for Life Institute’s unique property management service. John and Claire Walters had already started their investment journey when they contacted Wealth for Life. But they had a major problem. They had a vacant four-bedroom property in Clyde North. But their property managers just couldn’t find them any tenants. The end result? Thousands of dollars out of their pocket because they had no rent coming in. The Walters came to us to solve the problem.
The Bark is Bigger Than the Bite
The challenge here wasn’t the property itself. The Walters had already refurbished it and it looked the part. It was also in a hot area, which means there was plenty of demand. There must have been something else going on. It all came down to a neighbourhood dog. Every time a potential tenant visited the property, this dog barked constantly. The noise drove potential tenants away. We needed to find a way to overcome that barrier and help tenants to see the property for what it had to offer.
The Wealth for Life Solution
This was a unique challenge, which means it needed a clever solution. In the end, it was quite simple. We arranged viewings for tenants so that they took place outside of work hours. By this time, the dog’s owners had returned home, which seemed to calm the pooch down. With no barking to distract potential tenants from the viewing, we could talk more about the benefits of the property. Through it all, we kept talking with the Walters. We told them about the strategy and informed them about every viewing that we held. They received daily updates so that they knew what was happening.
The End Result
It took us only nine days to find a tenant for a property that had been vacant for four weeks. Today, the property generates a monthly yield of $1,680. Plus, the Walters have us to help them to improve that yield in accordance with the market. A property that had actively cost the couple money is now a no-hassle money earner thanks to Wealth for Life.
Property Management Done Well
Do you feel as though you’re doing more to manage your property than the property manager that you’re paying? Are your tenants seeing more of a benefit than you do from your investment property? Do you know if you’ve maximised your property’s potential? That’s how the Walters felt. You may be in the same boat.
In fact, many investors fail to ask themselves these important questions. This leaves them working with property managers who don’t have their best interests at heart. A bad property manager makes investing more of a hassle than it needs to be. Wealth for Life will help you to solve that problem with our comprehensive property management service. Our team has a combined 20+ years of experience, which means you get more from your property.
The Wealth for Life Difference
You may ask yourself what sets us apart from the many other property management services out there. After all, they promise similar things. Why should you choose Wealth for Life? We can offer 9 great reasons why you should choose us for your property management needs.
Reason #1: Working with Investors
The Wealth for Life family isn’t just a team of advisors. We’re all investors and landlords ourselves. This means that we know exactly what landlords want from a property management service. After all, we’re in the same boat as you. We want to get the most from our investments too. We use the same techniques for you that work so well for us.
Reason #2: On Time and In Full
What’s the biggest problem you face with your current property manager? We’re willing to bet that you’re receiving your rent payments late. That affects cash flow, which causes issues elsewhere. That’s not because you have bad tenants. It’s because you have a bad property manager. We have a stellar record when it comes to ensuring your tenants make their rent payments. 95% of our tenants pay on time and in full every time.
Reason #3: Smart Timing
You need to make a mortgage repayment in the middle of the month. But your property manager doesn’t collect your tenant’s rent until the end of the month. Do you see the problem here? You have an unbalanced cash flow. This means you’re always struggling to align your mortgage repayments with your rental yield. We arrange your tenant’s rent payments so you receive them before you have to make your monthly repayment.
Reason #4: Direct Debits
As your portfolio grows, you’ll also develop a long list of tenants with whom you work. Can you imagine the work that comes with chasing all of those tenants for rent payments? Wealth for Life has the solution. We set up direct debits for all of your tenants. This means they pay their rent automatically on a date that suits you. That’s convenient for both you and your tenants.
Reason #5: Clever Lease Structures
Did you know that a vacant property experiences more views during the summer than the winter? Not many property managers do. This leads to them structuring leases that leave your property vacant during the winter months. It takes longer to fill your vacant properties, which means your property doesn’t generate an income. We know the secrets to creating great tenant leases. We structure your tenants’ lease agreements so that they end in the summer. If the tenant chooses not to stay in the property, you benefit from the extra demand that the summer brings.
Reason #6: Insurance Benefits
Let’s say that you have a portfolio of five properties. Have you aligned your landlord insurance policies for each one? If you haven’t, you may miss out on some unique policy features. We help you to group your landlord policies so that they start and end at the same time. This gives you access to group policy discounts from insurance companies.
Reason #7: A No-Hassle Service
No investor wants to hire a property manager, only to end up doing all of the work themselves. You want to reap the rewards of your investment without dealing with the little details. That’s what we’re there for. We handle the management of your property so that you don’t have to. This means you only hear from us when you need to hear from us.
Reason #8: Annual Reports
An unwatched property falls behind the market. You must adapt or else you’ll fail. Many of our clients find that their properties underperform because their property managers don’t adapt to the market. That never happens when you work with Wealth for Life. We produce annual reports that cover the performance of your property and the market. Each year, we analyse your strategy to ensure you get the most out of your investment.
Reason #9: Access to Specialist Software
Why pay an accountant to do something that you can do yourself? Our property management service includes access to special software packages. These can help you handle your tax bills so you can reduce your monthly outgoings. How does that sound? Do you think you could use Wealth for Life’s property management services? All it takes is a phone call. We’ll take you through the rest.