Why investors should focus on the ‘manage’ stage of property ownership
With much of the focus being on buying and selling property, investors have been given a timely reminder to focus on the managing process as a way to maximise returns, suggests an industry expert.
As part of Smart Property Investment proptech special, Managed co-founder and director Nick Bouris explained the importance of the managing stage of investing in property.
“Managing is often the part of the process which is often forgotten about. Making sure they are getting a good rate of return on your rental property, making sure the property doesn’t sit there between vacancies, making sure the costs are low and mak[ing] sure the cash flow keeps rolling through,” Mr Bouris suggested.
The property manager believes proptech can be used to help with the holding period of return between buying and selling a property as it makes it more transparent for all stakeholders.
“Often, people buy the property and invariably it goes onto the rent roll of the agent that you bought it from, as they manage the property as well. And then the investor just forgets about it until the sale,” Mr Bouris said.
Through proptech, landlords can manage their whole portfolio, as lack of good software often leads to lack of communication in the property market.
“We’ve got some landlords that have 20 properties. Yeah, see everything in one place, they get access to comprehensive reporting, they can see exactly what money went where and when,” Mr Bouris continued.
“They’ve got their own UI, they can log in anytime, they can download reports, we notice, you know, they can participate in conversations with the property manager and the tenant and the tradesperson that, you know, they’re always being notified of rental increases vacancy rates, arrears notices as well, they get locked in on that stuff. So they can really help, that can really sort of stay in tune with what’s going on and and keep their property manager accountable.”
See some of our past coverage here:
More from this writer:
-
Highrise of lies: Gold Coast developer cops fines over GST fraud
-
4 danger signs property investors need to watch
-
Brisbane Olympics set to boost commercial property
-
Landlords forced to ‘carry the can’ following Victoria’s lockdown
-
How this first-generation Aussie bagged a $2.5m portfolio by 32
-
How this investor is turning a marriage breakdown into a fresh opportunity
-
The best and worst rental yielding suburbs revealed