LEASING & MANAGEMENT OF YOUR INVESTMENT PROPERTY What typically happens at settlement?
Tenant Selection
• Around 50% of apartments enter the market at one time creating an oversupply of rental property
Selecting the right tenant can be the difference between a problem free investment or an investment that will cost you thousands. Below are our methods to avoid these costly mistakes.
• There are competitive pressures between owners and agents • Competition creates downward pressure on rents • Competition creates upward pressure on vacancy
• A poorly completed application is an early indicator of tenant standard and used in the selection process
• The initial months of a building’s life can be chaotic if there is no strategy in place
• Short lease offerings by tenants are to be avoided as they can be costly in fees and vacancy • Avoid excess wear and tear by keeping tenant volumes low
Our Strategy
• 100 point ID check to confirm who is really leasing the property
• Advertise the properties several months out from settlement, securing tenants and applications early
• National tenant reference check with TRA to confirm rental history
• Conduct tenant inspections during the finalisation of construction
• Call current property manager to check that their property is in good condition and rent is paid on time
• Have tenants ready to move in upon settlement • Rents set by a single source to avoid external competition • Rents are maximised as tenants cannot shop around to get a better deal from other agents
• Call employer to confirm income and ability to pay rent
Once we have provided you with our tenant recommendation the final decision is up to you to proceed and lease the property or go back to the market.
• Leasing completed calmly and efficiently • Over time increase rents and keep vacancy to a minimum
1300 937 277
Suite 406, 55 Holt St, Surry Hills NSW 2010
www.cpsproperty.com.au