Coral Sea Property Management

Coral Sea Property – Rental Property Management Townsville

Get More Return From Your Investment Property.

At Coral Sea Property you’ll discover our systems, processes and follow up, consistently produce higher rental returns, better tenants and less days vacant.

Your property will be rented within 14 days or we’ll start paying the rent on day 15.

We’re certain we can rent your property quickly. So certain, that if after 14 days you don’t have an A+ tenant in your property, we’ll start paying your rent on day 15. You’ll have the peace of mind knowing that your rent will keep coming in, even if your property is vacant. We guarantee it.

You’ll be 100% delighted with our service.

If at any time you’re not delighted with our property management service, we’ll refund that month’s management fees. This keeps us on our toes, and you completely delighted. If for any reason you need to leave us, we’ll return your file within 60 minutes and let you out of your contract. No asterisks, no fine print, no questions asked!

You’ll have A+ tenants caring for your property.

Our process attracts better tenants who are positioned to pay rent on time. Check out our statistics.

You’ll find it easy to switch to Coral Sea Property.

We’ll help you make the switch from your current property manager an easy process. Your signature on two forms is all it takes. We do the rest. Easy.

What to know more?

Let’s talk about how we can help you get your rental property performing like it should. Please call, email or pop in to talk. We are always ready to help.

Coral Sea Property Management Townsville

Not ready to switch yet? That’s ok… have a read of the article below.

The Three Key Numbers of (Good) Rental Property Management

There are three key numbers that reflect exactly what pain you will feel as a landlord. Once you know these numbers you have the ability to measure exactly how your current property manager is going. If it is all right I would like to give you a quick run down of the numbers right here – because we feel it important for you to know about it – even if you don’t use our services. (But we hope we can be on your “short list”!)

These numbers allow you to look at the performance of your investment properties without having to “factor in” how “nice” your agent is – or how good they are at returning calls and protecting you from the “mini-crises” that happen every now and then. The three numbers are the “objective” part. The other part is important – but must be balanced against the simple question: How good is your property manager performing at looking after your investment?”

It does not matter if you are a first time landlord, or a toughened investor with decades of experience. The numbers will give you a balance and an advantage – and whether or not you join our team of happy landlords – or whether you use these criteria to give your current property managers a ‘touch-up” – we are happy to have helped.

Property Management Key Measurement Number One

1. Vacancy Rate of Entire Rent Roll – Calculated Monthly.

This number reflects the ability of the property manager to get ALL of the things done that make vacancies decrease. AND not only must the right things get done – but the things that make vacancies increase must not be done.

Some of the things that make vacancies decrease include:

• Timing the period of leases so that renewals happen at times of strong demand in the market. For example – if you allow a lease to expire at a time of year when there are fewer applicants looking for a place to live – you have less bargaining power with those who do apply – AND there is a strong chance of no applications at all – giving you an empty building.
   
• Measuring what actually works in terms of attracting tenancy applications. And then applying this knowledge to keep vacancies low. Everything from getting advertisements and Internet listings current and attractive to responding quickly and efficiently to the people who enquire about them. If a property manager is hard for you [as a landlord] to contact – imagine how much trouble a prospective tenant will have.
   
• Simply beginning the process of getting a new tenant BEFORE the existing one leaves is fairly obvious. Some property managers will wait not only until the tenant has left, but a week or two after that to allow final inspections and any cleaning/repairs out of the bond – before starting the process to get a new tenant.

Some things that make vacancies increase include:

• Not getting maintenance done in a reasonable time. If things are looked after – people stay for longer.
   
• Letting tenants habitually get into arrears on their rent. This is one of our key numbers for other reasons – but once people are a long way behind they are more likely to default in a big way. Keeping arrears close to zero is a very effective way to keep loss of rent extremely low.
   
• Not measuring your vacancies on a daily basis. Just having a clear score of the number of vacant properties and number of days vacant will reduce your vacancies. It is a visual reminder of exactly what the most important part of property management is. You only get a return on your property when there is a tenant.

There are lots more to be done to keep days vacant low – and you are welcome to drop in and discover our other “secrets” – and see our daily scoreboards.

To calculate your vacancy for the past month – divide the total number of vacant days by the number of properties you manage. And compare this to the REIQ numbers for your area. We publish ours in each monthly Newsletter.

Property Management Key Measurement Number Two

2. Number of properties with any rent in arrears

This number is very simply a measurement of your property manager’s ability to train tenants so that they know what is expected – to keep right on top of the process. Excellence is achieved by continual vigilance – and arrears must be measured on a daily basis.

Property Management Key Measurement Number Three

3. Number of properties “out of lease”

This is another very simple number that makes a big difference to the net return of our landlords. It is important because when a tenant completes a “fixed term” lease period – they move automatically across to a “Periodic” lease. This means that they can leave at the drop of hat – giving you no warning – and if this happens at a time of the year when tenant applications are very low – you can expect to have several weeks of no rent.

Measure this by dividing the number of properties on periodic lease by total number of properties. Again you can see our stats in the newsletters.

Well – that’s the short version of the Top 3 Numbers of Property Management.

If you would like have a relaxed, no-push chat about properties, give us a call on 07 4724 1723 or email us at rentals@coralseaproperty.com.au.

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Coral Sea Property Management Townsville