Picture this. You’ve got a 5 bedroom rental property in the heart of New Farm that’s been advertised for months. It doesn’t seem to be garnering any interest from tenants and you can’t seem to figure out why. Your property manager keeps telling you to wait and not really giving you any feedback, and you’re just getting sick of seeing your property sit vacantly.
That’s exactly what was happening to the landlords on Charles St in New Farm. Eventually, as anyone would, they got sick of waiting for their old property manager to lease the house and took their property to Caleb Reis at Hutton & Hutton. In June this year, the lovely landlord approached H & H after 4 months of seeing their property sit vacant. They couldn’t figure out why it wasn’t being leased, so Caleb went out to see why this incredible property wasn’t attracting any tenants.
“On the first inspection, the property was tired and required a fair bit of maintenance, but I could see it had great bones,” Caleb said.
“I believe in total honesty with my clients, so I told them it’d need some work. They told me their previous property manager only told them the lighting needed symmetry and gave them a quote of $3,500 to fix it. They didn’t even mention the other maintenance work required. The staircase wasn’t up to code and no one had told the landlord!”
Caleb has his builder to go through each room and price up everything that needed fixing. They replaced the staircase, repainted, recarpeted, fixed broken doors, windows, addressed a leak, replaced the range hood, and had the garden completely tidied.
After just a couple weeks with H & H, Caleb had the property leased for more than the previous property manager was asking.
“If your property isn’t garnering any attention, you need to really assess the place,” Caleb said.
“Sometimes, a price adjustment just isn’t enough. You need to look at the house and identify opportunities to make improvements. A trustworthy, honest agent is going to tell you upfront what you need to do to get your property leased.”
If you’re not seeing the results you were expecting from your current property management team, contact Caleb Reis at Hutton & Hutton Inner North to chat about what he can do for you.