What are property management services?

In Australia, properties are typically managed through a third-party real estate agent or property manager. However, sometimes the property owner will self-manage the property. But after reading this guide, it’s evident that property management entails much more than simply collecting rent.

We go into detail about the property management services you can expect from your property manager below, but at the end of the day, they work on behalf of the property owner. It’s their job to ensure your property is well-maintained and your tenants are happy. Property management is how property owners decrease their risks (compliance and income-wise) and increase their returns, which is obviously what every landlord desires.

What’s the purpose of a property appraisal in real estate?

-The property size.

-The floor plan, such as the number of bedrooms and bathrooms.

-The property’s condition, street appeal, structure and features, including fixtures, fittings and exterior.

-The local area and location, including how accessible it is to essential amenities like schools, shopping centres and public transport.

-School zone boundaries.

-Current local property market conditions and recent sales data (within the last 90 days) to see how it compares to similar properties in your local area. The closer they can match it with similar properties, the more accurate the appraisal. But it’s always beneficial to remember that no two properties are the same, so all appraisals are generally subjective.

-Wider real estate market trends.

-The time of year you’re hoping to sell the property.

-The current economic environment, including interest rates.

1. Invest in curb appeal

2. Make minor updates that pay off

3. Compare your property with others

4. Do a deep clean

5. Install energy efficiency features