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Our team at Maloney’s Property use the term ‘Proactive Management’ to describe their level of service.  Property management is generally perceived as reactionary, but our team are committed to going above and beyond to action tasks within a timely and professional manner.  We understand that when the hot water system stops functioning on a Friday afternoon it needs to be addressed urgently and actioned promptly. 

The culture we have formed with our clients is changing the psyche of property management.  By engaging with our owners to encourage a proactive approach to the management of their property, we are able to deliver results.  Property owners will save their property manager’s number for when they receive a call, will acknowledge the bad news and address the situation.

Prevention and planning are essential when it comes to successful property management and our team can engage in the following;

1. Getting the price right for your rental

The current rental market in Canberra requires properties to meet the market in accordance with supply and demand. Therefore, it is vitally important in the present market to be guided by the market and your property manager and be proactive with pricing. They will assess the market to understand your competition and price the property to secure a quality long-term tenant.

Being proactive with the pricing will minimise the vacancy period and reduce the financial stress of a vacant property. Chasing an extra $20 - $30 when it is clear the completion and market suggest otherwise will hinder the leasing process.

2. Organising proactive maintenance

Servicing heaters and/or appliances will ensure they are efficient whilst prolonging their life span. This also adds to the enjoyment of the property by the tenants who will be less likely to challenge the annual rent increase.

Pest spray when required, especially the last two years we have experience an incredible number of spiders.

Prune the garden and rejuvenate the grounds as plants and shrubs only have a certain lifespan. Mulch is a wonderful addition every few years.

Additionally, it is always clever to seek quality financial advice and/or depreciation schedule so you can maximise the benefits of an investment property. Be proactive!

3. Ensuring your rental meets legislation requirements

Regulations change frequently and most recently we have been working on the introduction of minimum energy efficiency standards for ceiling insulation by the ACT government. These standards come into effect in April 2023 and require all rental properties to meet a minimum insulation standard. Be proactive and have your property assessed so you can have the insulation upgraded if necessary. There is a phase in period, so discuss the process with your property manager.

In summary, being proactive with your property and its management will ensure it is well maintained, attracting and maintaining a quality tenant while minimising vacancy and achieving market rent.  Ultimately, one of the many reasons why property owners are choosing to engage with a Maloney’s Property manager and getting the best management service for the investment property in Canberra.

To find out more about our proactive property management get in touch with our principal Sue Maloney on 0418 654 063 or email smaloney@maloneys.com.au