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September 05 Real Estate Growth:
Everything is roses across the Sunshine State
Hot property
From the June edition of the WEEKENDER:
A side effect of the residential property boom on the Sunshine Coast in recent years is the sophistication of the real estate market. Now it's time for the level of service to catch up with customer demands.
Property prices are at record levels and suddenly Sunshine Coast homeowners have a little more scope in the real estate scene. Investment is surging and rental demand is soaring. Specialised property management is more important than ever before.
Enter Exclusive Property Rentals, one of the Sunshine Coast's first real estate offices to ignore the sales side of the business and focus solely on property management. The brainchild of long-term industry enthusiasts Rob Warburton and Kate Dodds, the business was borne from frustration and dissatisfaction with how investment properties are currently managed.
This is something Rob has experienced first hand. A licensed real estate agent with a background in architecture, he has several investment properties and as a landlord was constantly frustrated at the lack of service and staff continuity at most property management departments.
On the other side of the desk, Kate was equally annoyed. After working for a boutique rental company in Sydney for several years managing more than 280 properties she was dissatisfied with the service standards on the Sunshine Coast despite being quickly appointed as senior property manager for one of the largest local real estate groups. Completing this dynamic team is office manager Melinda Beattie, formerly a property manager herself. Now they are ready to put a fresh spin on the local property rental scene.
"We're here to shake up the Sunshine Coast property market. We're sick of the 'that'll do' mentality, we want to bring the professionalism back to the Sunshine Coast," Kate says. "We're not just here to collect the rent but to manage what is really a pretty big investment for most people."
"The Sunshine Coast is so laid back but if you pay for a professional service that should be what you get, nothing second rate just first class professional service every time," she continues.
This sort of service means not just achieving the best market rental return but also ensuring the selection of quality tenants so that the investment property is maintained in an excellent condition. Basically it means minimal stress for the property owner.
Everyone has heard the horror stories of trashed houses and tenants from hell and being a landlord can be nerve-wracking for the novice investor and time consuming for the professional. That's why property management has become a specialised field within the real estate market.
The Residential Tenancies Act has complex rules and regulations relating to property management. It places immense responsibility on whoever manages the rental property to comply with these guidelines. Failure to do so can attract harsh penalties to either the owner or the managing agent. But Exclusively Property Rentals' property managers and staff are all licensed and are thoroughly informed and trained in all aspects of the relevant legislation to provide peace of mind.
A key part of this peace relies on top tenant selection processes. Exclusive Property Rentals is particularly discerning when it comes to maintaining a certain quality of tenant for its managed properties. Prospective tenants are carefully selected through both an application and interview process. Previous rental and employment history checks are conducted and staff speak personally to all referees, employers and any other relevant third party to gain a good background prior to a final decision. The greatest care is taken to ensure that the correct tenant is chosen for each property.
In addition, the office is a member of the Real Estate Institute of Queensland (REIQ), which ensures it always kept up to date and fully informed of all the continuing changes to the legislation and tenancy reforms.
That is the difference between "collecting the rent" as Kate puts it or professional property management. Just another sign of the increasing sophistication of the Sunshine Coast real estate market.
More info here: September Real Estate Growth: