With Townsville’s population continuing to grow and rental property occupancy rates at an all-time high, real estate experts say it is an ideal time to consider investing in real estate.
“Properties are getting snapped up by interstate buyers, local investors need to see the value in investing here before it’s too late,” says Explore Property Munro & Co co-owner Jools Munro.
Jools says that contrary to landlords’ concerns about their rights diminishing as a result of recent changes to rental tenancy legislation in Queensland, well- managed rentals remain an ideal avenue for financial growth.
“The Real Estate Institute of Queensland lobbied hard to ensure landlords rights are upheld,” says Jools.
“The majority of landlords genuinely want to provide a stable, comfortable, and safe housing environment for their tenants which is what the legislation strives to achieve.
Appointing a skilled property manager is now more crucial than ever to ensure compliance with legislation, effective tenant management and profitability of your investment.
Munro & Co’s property managers are capped at either 90 or 120 properties each to ensure they have the professional skills, experience, and adequate time to conduct thorough inspections quarterly, tend to any maintenance issues, and communicate effectively with landlords and tenants.
“While rent collection is essential, it’s just a fraction of the skills required of a capable property manager,” says Jools.
“At Munro & Co, we genuinely care about the tenants and listen to any concerns they may have, but we
are also focused on helping landlords maximise their financial investment.
“Our property managers take a proactive and disciplined approach to scheduled, routine inspections legally permitted every 12 weeks, enabling them to not only identify any changes in circumstances which could impact the asset, but also to liaise accordingly with the tenants and landlord and complete any action items promptly.
“We also proactively identify areas of the property that could benefit from improvement to create an asset of great value so that when the time comes to sell, particularly if landlord’s circumstances change unexpectedly, the property is well maintained and ready to market.
“Investing in real estate can be so financially rewarding when you choose the right sales agent and align yourself with a motivated and committed property management team.”
