At Property Alchemy we pride ourselves on the fact we lease out properties, on average, in 6 days. It makes a big difference to our owners and gives them peace of mind that they are not going to be left with a vacant property. With interest only loans for investment properties becoming scarce and pushing up monthly mortgage repayment costs, every dollar counts.
Would you live here?
When we advertise properties it matters that we take time to present the property in the very best light possible. Gone are the days when there was a huge over supply of tenants and properties were ‘flying off the shelves’. We need to present properties that stand apart and get potential tenants thinking ‘I could live here’. Not only will it create some competition but it will give the investor a better chance at getting the top rent.
The false economy of amature photos.
We ask that our owners have professional photos of their property. It costs $120 for 6 professional images and this can last them up to 6 years, assuming no major changes to the property. So that is 20 tax deductible dollars a year. The difference the professional photos make is immense. You can capture so much more of the property with a wide angle lense, the light is always better and the photos look sharp and full of colour. Why risk having to drop the rent by even $5 a week at an annual cost of $260. It costs about 10% of that to pay for professional photos.
Case study
We recently listed an apartment in Castle Hill, the owner had professional photos. At the same time there was an identical apartment 1 floor up that was advertised for the same amount. The photos of that property were poorly taken on an iphone and only showed the front of the complex and the car park.
Our property was advertised for $490 and leased in 8 days, after two opens.
Their property dropped down to $485 and as I am writing this is still for lease.
This is one example of many that highlights the need to present your property well. By building a great relationship with our tenants we know that when we need to re-let the property they will go that extra mile to help by making the sure the property is clean and tidy.
Presentation is a powerful tool when it comes to minimising vacancy and maximising the income from your property investment. – The reality is, you invest in property to make money so why wouldn’t you do everything you can to support that money making vehicle really perform.
