Bexley/Beverly Hills Blog

Bexley in NSW provides a great starting point for people moving up in the world and looking to invest in a second home while allowing their first home to become a rental property. As with many things in life, you have to start somewhere, so buying a smaller or older property as a first home is a wise investment. 

Later, when you are ready to move into the next stage of your life and you have grown in your career and finances, you may consider starting on the road to property investment as you rent out your first property.

Good rental demand in Bexley

With house prices that are more than encouraging, averaging at around $1 million and around $700,000 for a unit, Bexley NSW can provide excellent opportunities for property investors. The region also has a massive positive growth rate of 32% and with Kogarah Hospital nearby and good access to the CBD and Sydney airport, there is plenty of demand for places to rent. 

We know from our own experience in the area that homeowners in Bexley often choose to remain in the area even when they are ready to move to the next stage of their lives or upgrade their homes. Often, they sell or rent out their original property and buy their next home again in the Bexley area. 

How to manage your rental property

We know from our experience that people renting their investment property for the first time feel inclined to go the DIY route when it comes to property management. To the untrained eye, renting out a property can appear simple but the truth is that there are many logistics involved in property management. Without knowing what you are doing, and by missing important details, you could create unnecessary problems. Worse, you might find yourself in a legal battle over lease terms or property compliance.

Having to undo mistakes can be time-consuming and expensive. A professional property manager deals with the ins and outs of renting homes on a daily basis. In engaging a competent property manager, you have the peace of mind of knowing your property is in good hands.

The experience of a professional property manager has the potential to save you hundreds, or even thousands, of dollars over time. Just as importantly, their expertise in this area will relieve you of the stresses of having to deal with tenant and maintenance issues. 

A happy tenant means that they are more likely to stay longer, saving you the expense and trouble of advertising and screening new applicants to replace a good tenant.

Why use a property manager?

Your property manager is on hand to help you with many issues relating to your investment property that include:

• Taking care of the rules and regulations relating to the tenant and landlord within industry standards.
• Managing the admin relating to the tenant and landlord.
• Selecting and screening for good tenants.
• Following up with late payments from tenants.
• Sorting out maintenance concerns.
• Ensuring that the tenants’ rights are upheld according to law.
• Conducting regular inspections to ensure responsible upkeep of the property.
• Conducting regular rent reviews to make sure you aren’t leaving money on the table.

What does a property manager cost?

Average fees paid to a property manager vary. Usually a fee would be in accordance with a percentage of the rent, ranging from 5-10%. However, you should consider the cost of a property manager as an investment rather than a burden. A good property manager will make sure your property is rented continually at the right price to the right tenants who will care for your property and provide you with a steady income. 

Can we help with your rental?

We have many years of property management experience in this area. We know what tenants want, how to keep them happy, and how to pitch the rent at a price that gives you a steady income while not pricing out good tenants.

If you need help renting your property, call John Katergarakis on 0451 901 005, or email [email protected]. We’re here to help.