Generating income from property investments is a major tool that Australians from all backgrounds use to build wealth and provide for retirement. While some of these investors have the where-with-all and time to manage the properties themselves, the majority prefer to step back from the operational management and hire property manager expertise through a real estate or property management agency. For a small monthly fee that is deducted from the rental returns, the agency will look after the maintenance of the property, conduct regular inspections to ensure the tenants are keeping it in good condition, source suitable tenants and do their best to keep it rented for most of the time.
The growth in this industry has spawned an occupational category that, fifty years ago, was not necessarily considered a full-time career, but was usually something a real estate agent did to keep their clients happy and generate some cash flow when sales were hard to get. Nowadays, the job description of a property manager is fairly well defined and requires a range of skills and experience that could sometimes be mistaken for that of a Superhero.
The purpose of a property manager is to maintain a professional relationship with their client list i.e. the owners of the rental properties. Most owners are in absentia, some of them interstate or overseas, so they are relying on the professionalism of the property manager to make sound decisions on their behalf that provide them a return on their investment. A key part of those decisions is the choice of tenant that the property manager places in the dwellings they are managing.
A property manager attached to a professional real estate Sydney agency has the use of business systems based on the applicable legislation which they use to source and screen suitable tenants. This can be a difficult role as property managers, while conscious of their role as guardian of their client’s investment, also form professional relationships with their tenants, and seek to help them find dwellings that suit the tenant’s needs. For example, property managers generally reference-check a prospective tenant and sometimes have to make difficult decisions against certain criteria to find someone housing.
Among the wide range of duties expected to be performed by a property manager are regular inspections of tenanted properties, liaising between the tenant and the owner to have repairs authorised and checking that they have been satisfactorily completed before authorising payment. At the same time they are finding new tenants, inspecting new properties before they become part of the regular rent roll, fielding complaints from both tenants and owners, dealing with queries and preparing reports.
A good property manager is able to maintain the occupancy rate of the properties under their control at a level that generates the maximum return for the owner, while still keeping up the maintenance, and treating tenants with dignity and impartiality. It is a challenging role, but one that generates an energy of its own and typically suits someone who enjoys interaction with people.
Warwick Farm is a well-established and large suburb of Sydney. The majority of residents are currently employed and are mostly middle income earners. A fairly large proportion of the residents of Warwick Farm are younger families and this is a good indication that this is an up and coming neighbourhood with prices that are still reasonable for those just starting out. It makes a more affordable alternative to the neighbouring Cabramatta and Lansvale. As far as investment potential, prices in Warwick Farm have taken a little knock in the global recession but overall growth for this particular suburb has still outperformed that of the overall region.
When it comes to getting home loans in this area, it is a fairly safe bet that you will be successful – the homes in the area tend to be better kept up and tend to offer good value for money. Add to this the fact that the median house prices have shown quite a good recovery rate over the past few years and you have the makings of good collateral for the banks. It is a good idea to get an expert in real estate Macquarie Fields to discuss this aspect with you in a little bit more depth.
The neighbourhood itself is not far from the Sydney CBD making it quite a convenient location for those who need to work in Sydney itself. It is well set up with a good infrastructure and two very good schools. The majority of the homes in the area are stand-alone houses and this may leave some scope for commercial developers looking to set up blocks of flats or semi-detached houses. It should always be remembered however that the vast majority of home owners in Warwick Farm are looking for family homes.
Warwick Farm was a very popular centre for Grand Prix racing in the sixties and the Warwick Farm Raceway was one of the premier motor racing sites during this period. Nowadays, the Raceway is defunct but it still makes an interesting back story. Today you will have to concentrate your attention on a different kind of horsepower at the Warwick Race Course. Today it is the venue for some fine thorough bred horseracing.
As far as entertainment in the area goes, there are a few good restaurants and quite a few parks to choose from making this a great place for those with young kiddies and those who are looking for something a little more sophisticated as well. Overall, this is a pretty well rounded suburb.
If you want to invest in commercial real estate, you would be looking at things like flats, shopping centres and similar properties that can earn you an income. The main rules when it comes to investing in commercial property are pretty much the same as when you invest in residential properties – location is the most important thing of all.
You want to set up the commercial property investment in the right area – preferably just before a property boom so that you can maximise the return on your investment. In order to maximise your return, you are going to need to keep an eye out for great investment opportunities and this means putting your nose to the grindstone and doing some proper research.
Take, for example, an area like Sadlier. This is primarily a residential area and so, at first glance, there may not seem to be a lot of area for growth in the commercial property market. The main advantage here is that it is a very well established area and is adjacent to Mannix Park, which is to the North and reaches from Sadlier Avenue in the East to Heckenberg Avenue in the South. The area is bounded by Cabramatta Creek in the South. Development in this area, named after Richard Sadlier – Liverpool’s first mayor, began mostly in the sixties when the Green Valley Public Housing area came into being.
It may seem that the area is in decline because there are fewer inhabitants but this is more because of a housing shortage than an actual decline in the suburb itself. The infrastructure is sound and there is a good school in the area. Because of the relative stability of the area, house prices are not bad. This is good news for those looking to invest in commercial properties. An area like this could show a good return in terms of rental income and capital growth according to experts like Real Estate Liverpool.
There are a few other things to keep an eye on when it comes to commercial investments – look for areas that are set to expand – new developments, commercial expansions, etc. are all indicators that an area is on the up and up. All in all, it is important to look at these kinds of factors when considering investing in commercial properties. You should monitor the various estate agencies’ websites for more in depth suburb profiles and upcoming developments. If you are willing to put in a little time and effort, you will be well rewarded.
These real estate loans can be used for purposes of building new premises or to buy an existing structure. They can also be used for refinancing big houses or retirement homes. One such suburb that would be a great place to live is Rosemeadow, which has quite a wonderful history surrounding real pioneers such as Thomas Rose. It is men such as Thomas who helped to shape the foundations of this great town by pulling the farmers together through droughts and other things that threatened their livelihood as farmers.
Real estate loans are a tailored to suit your needs and budget, especially if you want to buy your first home or investment property. A property management Sydney professional can help you to find the right home and can point you in the direction of a reputable mortgage broker if you need to find finance. This wonderful suburb of Rosemeadow was named after an early settler, Thomas Rose, who bought a farm called Mount Gilead in 1818. He was a baker and a publican as well as a farmer. He built a mill on his property as well as a few dams which helped him and his neighbours survive the drought in the year of 1829.
This charming town has a population of just over 7000 and is 56 kilometres southwest of Sydney. There is a commercial area with a small shopping centre, fire station and a church along with a community health centre. There are two high schools, two public schools and also a special school for children with disabilities and special needs. John Therry Catholic High school and Ambarvale High school service the needs of the teenagers in education while Our Lady Help of Christian’s primary school and Rosemeadow public school cater to the younger students needs. Mary Brooksbank special school takes care of the special needs children.
Rosemeadow Marketplace is a medium sized shopping centre situated on the corner of Copperfield Drive and Fitzgibbon Lane. This popular shopping centre features grocery, specialty and clothing stores which caters to the local population. What more could you ask for? With great schools to give your children the best education, a shopping centre handy as well as a health centre, churches and the rest, you can’t go past a lovely place like Rosemeadow.
This is just one area that you might like to search for a property in. It is a nice family area and has good rental potential as well. Why not contact your local property management team to find out more about Rosemeadow?