Handing your biggest financial investment over to an agency is the ultimate act of trust. Owners keep their finger’s crossed the property manager will treat the property as if it was their own. However, property investor and real estate agent, Adam Nobel found this is not often the case.
“I have been investing in property for almost 20 years. Even before I became an agent, property investing has been a high priority. I love the search for the right place in the right suburb to grow my portfolio,” he said.
“Yet, over the years, I have had many bad experiences where my property has been handed back to me at the end of a lease, not in the condition I handed it over. I have been left with repair bills that could have been reduced if I had known about the damage or maintenance.”
When Adam opened his agency Hugo Alexander Property Group, he wanted his owners to have a different experience.
“Most people who buy investment properties are not tycoons or serial investors. The properties they buy are important to their long term financial security strategy and they really need agencies to be looking at the big picture for them,” he said.
“In my years as an agent, particularly working for other agencies, I noticed there was not long term planning or strategies for people’s properties. The quarterly inspection gets done and the only time the owner hears from the agent is when something is wrong or the tenant is moving out. It is all reactive instead of being proactive.”
Adam has created a 10-year strategic Maintenance and Growth Plan. The Plan is designed to save property investor clients tens of thousands of dollars through tax depreciation and maximising the property’s benefits by having online access to tailored information on how to:
– protect their property value
– grow/increase rental income/cash flow to achieve capital gains
– maximise profits through tax depreciation
– market competitive mortgage rates
– achieve higher rental income.
“Our Maintenance & Growth Plan (M & G Plan) enables clients to look 10 years ahead while we’re tactically executing plans on their behalf. It should be an agency’s duty to help clients protect, grow and profit from their investments,” Adam said.
“Yet this forward planning is not common in the industry and owners are missing out on thousands in cost savings, increased income and it is costing them for unplanned repairs.”
“It is important to go beyond renting out, buying or selling a property. While that’s the business we are in, as an industry, we should be taking people on a positive journey. “Having a complete 360 from reactive to proactive property management means looking at all aspects of property maintenance and growth, creating a rolling 10-year plan, updated year after year.
The Maintenance and Growth Plan communicates repairs, upgrades or replacements to the owner, so when the property is vacated, they’re not up for a big spend.”
