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Property Management

Our team’s on-going management of your valuable property asset is critical to its overall investment performance. Property management is a specialised field of real estate, and we endeavour to perform this function professionally for all investors & buyers.

Upon construction completion, our property management team ensure quick and speedy rental of all stock, thus securing that rental income is forthcoming immediately upon settlements finalising.

This service provides assurance that when you purchase stock from LM Developers, your property will be managed by a 24-hour on-site property manager, taking care of all your needs and ensuring the highest rental is always achieved for your investment property.

The question of whether or not you should manage your own investment property is largely one of time and enthusiasm. It can take a lot of dedication and constant updating of knowledge to ensure your property is managed correctly.

 

Property management requires someone to:

  • Find, screen and choose tenants
  • Understand all tenancy laws and keep up-to-date as new laws and amendments are introduced
  • Maintain the property and organise repairs where necessary
  • Find suitable daytime and after hours tradespeople – eg. plumber, electrician
  • Handle tenants’ complaints in an objective manner
  • Conduct regular property inspections and complete condition reports on entry, exit and at inspections
  • Handle all monetary transactions including rent payments and receipt and lodgement of rental bonds
  • Be able to deal with problematic and malicious tenants, and those who pay late or refuse to pay
  • Review and renegotiate rent costs
  • Produce rental statements for tenants detailing rent paid

If you don’t have the time and energy to do this yourself, LM Development property management service will handle the process for you for a fee of gross rental collected.

Property management fees are split into two main categories: management fees and letting fees. Management fees generally cover things like regular maintenance, routine checks and mailing of statements to tenants. Letting fees cover the costs of finding tenants for your property, including advertising and conducting prospective tenants through your property.