When it comes to investing in property, like most decisions, there are always factors to weigh up.
Property investment boasts several positive factors, such as less volatility than other investments and regular income when tenanted, but as with most investments, there are always some concerns involved.
While one of your main concerns is ensuring that your property is well looked after and maintained, another primary concern is that the value of your investment grows.
The reality is that property values can go down after you’ve made the purchase.
What can influence property values to go down?
Property prices are highly susceptible to the world around them. An oversupply of properties in an area can cause prices to drop with the alternative also being true; an undersupply can increase the prices.
There’s also the events that are unpredictable; that you might not see coming.
Events such as the COVID-19 pandemic and the Global Financial Crisis saw properties in some locations lose drastic value, while some areas were not as affected as others. Other events such as mining crashes, which resulted in a reduction of jobs in the related areas, also caused fluctuations in property values.
Generally speaking, value swings are not always as drastic as those experienced during those events. If you’re a long-term property investor, values won’t necessarily be affected as harshly, as values do tend to swing back and recover themselves to their previous states.
How can expert property management help your investment?
When your investment property is in expert hands, you can give yourself greater opportunity to leverage a return. Generally, a property manager will handle all the nuances of your investment, ensuring the financial potential for you is maximised.
Property managers provide an array of pros when it comes to maintaining your investment:
Access to strategic marketing of your property to source you the most credible tenants.
Securing more high quality tenants to keep your property from being vacant - ensuring a more steady flow of rental income.
Providing the on-going maintenance and repairs required to keep your property in top shape, for both you and your tenant.
Rent collections and any necessary documentation/procedures are all taken care of - saving you time to focus on other important matters.
Legal responsibilities taken care of.
Tenants' needs are taken care of, keeping them happier and your property tenanted.
All important records are maintained, saving you time and money (and helping you at tax time!).
If you’re looking for a property manager who will put your property investments first, complete with 5-star customer service and satisfaction guaranteed, contact the team at Combynd on (07) 5536 9594 or contact us online.