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In an ideal world you would simply forget about your investment property until such a time as it matures. Then, you have the choice of either continuing tenancy and using the income it generates, or selling the property to obtain capital gain. But in today’s world, things don’t always go according to plan. This is where our Property Managers can make your role as landlord less stressful. For example, have you thought about what you would do when a tenant doesn’t pay the rent? Or, in worst case scenario, how would you go about evicting a tenant? What steps should you take?
We look after all those difficult situations for you. Of course, not all tenants are like this and we thoroughly screen all prospective tenants through personal records and credit checks. We do this to ensure we find the best suited tenant to your property - which in turn means that your property is looked after and maintenance is kept up to date.
Maintenance - why is this so important? As a landlord you would hope that your tenant would look after the property as if it were their own. Should they discover a leak, it must be reported promptly so that it can be fixed before the problem becomes a major concern. One small leak left unattended to could lead to major repairs later on e.g. rotten walls, carpet etc. Keeping up the appearance of your property also ensures you’re increasing/maintaining your investment, so regular property checks are carried out by our Property Managers. Written reports are sent to you after each inspection to keep you up to date with the state of your investment.
Once we find a suitable tenant for your property, a binding tenancy agreement is signed by both parties, 3 weeks bond is paid along with one weeks rent in advance. Weekly checks of rent payments are made by us on your behalf and monthly statements are sent for your records. Upon termination of the tenancy, the bond is not returned to the tenant until a final inspection of the property has been completed by our Property Managers. If exceptional circumstances occur and it’s necessary to take legal action against a tenant, Twiss-Keir Realty Ltd is able to act on behalf of the landlord.
All Property Management fees are tax deductible. There are also various legal deductions that you can make to offset rental income and if the investment is structured accordingly you may find significant savings. Consulting a tax specialist before purchasing a rental investment property and when completing annual tax returns is advised at all times.
The aim of successful property management should be to maintain and increase the value of the asset concerned, whilst achieving the highest possible return on the capital invested. This can be achieved by careful control of a number of differing factors; those of which must be taken into consideration are:
- Responsible tenants do they look after the property?
- Rent are you getting the best possible return and is it being paid regularly and on time?
- Vacant property is the period of vacancy reduced to a minimum?
- Maintenance is it carried out competently and economically?
- Capital growth are you receiving this from your investment?
- The Residential Tenancies Act do you know your rights?
- Leases & paperwork are these in order?
- Tax returns do you have all the necessary records?
If you have any doubts on any of these factors, then it may be time to change to Twiss-Keir Property Management.
Our Extensive Service Includes:
- Thorough reference checks and careful selection of tenants
- Daily arrears control and electronic banking
- Detailed monthly or mid-monthly statements
- Payment of all necessary expenses
- Regular internal and external inspections
- Prompt advice on vacant properties
- Prompt response to maintenance problems
- Efficient and reasonably priced tradespeople
- A personal level of service from your property manager
