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Recent Buying Selling Lifestyle Investment Cash-Flow Property Management Rent Tenant
Cash-Flow Property Management Rent Tenant

Melissa Wilson – Why Working with a Good Property Management Team Can Help Give You the Winning Edge

07-Sep-2017
Property investment has been very popular with Australians and it is no surprise that it is the most common type of investment people use to try and secure their financial future. It is easy to see why: property investment gives owners a healthy stream of additional income, while also growing in value throughout the time the investor holds their property assets. It can also be an almost-passive form of income generation, requiring little ongoing attention from owners if a good system is in place from the beginning.

The importance of having a good property management team behind you is imperative to enjoying a stress-free, real estate investing experience. A good property management team not only takes care of things on a daily basis so you don’t need to worry, however, when things sometimes don’t go to plan they can help you navigate through any issues to maximise the outcome to your benefit.

Melissa Wilson, Property Manager with 1on1 Property, has dual qualifications in business and management, plus over 6 years customer service experience, all of which she was able to use recently to help a client out of a tricky situation.

Tenant Breaking a Lease

“It’s not a very common situation for us to see; however, recently we had a situation occur where a tenant broke the terms of a lease. The tenant received a lucrative job offer interstate which was too good to refuse and had to move within weeks in order to take up the employment offer.”

A break lease can happen for a number of reasons, though the most common is when a tenant needs to move unexpectedly, as in the case Melissa needed to deal with on behalf of the Landlord.

Importance of Regular Rental Income

“It’s not an ideal situation because you have your Landlord who is relying on the rental income, which is normally taking care of a mortgage on the property. They can’t afford to have their properties remaining vacant and not generating an income.”

Melissa is very cool under pressure and kept engaged with all parties throughout the experience to eliminate any feelings of uncertainty.

Good Property Managers Keep in Contact

“The key to getting through this involved me increasing the amount of contact I had with the Landlord so they knew exactly what was happening. They needed to know we were doing something to help and I made sure they were kept in the loop every step of the way.”

Eventually, after days of negotiation, a good outcome was secured for both parties and everyone was happy with the result. The Landlord has been a loyal client since July 2010, which only drove Melissa even more to find an amicable solution that didn't result in the client losing money.

Break Fees in Rental Terms

By choosing a good property manager Melissa’s client ensured they had the best chance of coming through these testing times unscathed. A properly drafted lease agreement is a must for savvy property investors. Excellent property managers can make sure you have the right lease drafted for unique circumstances, so just like Melissa’s client, you are ready to handle any eventuality.

“Because there was a clause in the lease agreement to handle this situation the tenant was able to take-up their new job interstate and were charged several week’s rent as a break-lease fee. This extra money helped the Landlord meet their commitments, and even better, we were able to let the property to a new tenant within two weeks. The Landlord was never out-of-pocket for lost rent.”

If you are considering investing in real estate give 1on1 Property a call on 4014 1900 and speak to one of our expert Property Managers about your strategy for winning with property.

Testimonial:

“I was Impressed with Melissa throughout the whole process. She was very prompt in informing me about the lease being broken early, in relation to the process (as this is the first time we have had a lease broken), inspections times, outcomes from open houses, running through potential tenants backgrounds etc.” – K. Hodgson

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