Monday, December 16, 2013

Lease renewals for a happy new year

Each December marks the start of our busy season as we work to renew tenancies for early next year.  We end tenancies in what we term ‘peak letting season’, when there is highest demand by tenants looking for properties.  This means our clients get the best rent possible and the best tenants possible, because we think carefully about maximising return on our clients investments, and use fixed term leases to great effect.  If your property management company doesn’t use fixed term tenancies, or doesn’t end them in the peak season of January to March, you need to be talking to us about getting better rents and better tenants.  It can make thousands of dollars difference to your pocket every year.

We are proactive on getting new leases in place for properties.  Right now, we are notifying our clients (landlords) about the up-coming end date of their leases, and asking they confirm they are happy for a renewal where we recommend it.  Why do we ask?  We understand the requirements and restrictions on fixed term tenancies as well as periodic tenancies, and we know sometimes plans change.  It is important we are kept abreast of such plans so we can manage the tenancies with our client’s best interests in mind.  Does your property management company inform you of upcoming lease renewals, and checks your plans coincide with their planned actions?  If not, you know who to call.

Once clients have been informed, we send lease renewal offers to tenants we’d like to have stay on at the property (N.B. not everyone is so lucky to get an offer of renewal – why keep less-than-desirable tenants?), and they have until a certain date to return the paperwork to secure the property for another year.  If they don’t, we confirm the end of the tenancy and send them information on what they need to do in order to get their bond refunded in full.  We simultaneously advertise the property to minimise vacancy time – there is no point in waiting until the tenants have left.  This is another way we maximise our client’s rental income.

It’s a good time of year for you to have a think about your rental property for next year.  Would you like it to perform better than it has?  Call us now on 04 4711880 to book an appointment to discuss your property management needs, and experience Rental Results Property Management Excellence for yourself.

1 comment:

  1. We understand the requirements and restrictions on fixed term tenancies as well as periodic tenancies, and we know sometimes plans change. construction insurance is very important for everyone because it saves money and time.

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