It can be hard enough to master the craft of property investment in your own country, let alone trying to build a portfolio overseas. Different time zones, dissimilar rental legislation, unfamiliar tax law are all challenges you can expect to face when investing in a foreign market like Australia.
So, it makes sense that you’d want to get your hands on a reputable and professional investment property management team ‘on the ground’ who know the region and can help solve any issues that need a sound knowledge of the local landscape - and that’s where :Different comes in.
Our Australian property management services are a one-stop-shop for overseas investors; make no mistake, we take care of everything. From setting up a leasing campaign, to collecting rent and dealing with repairs, we’re there to take the hassle out of overseas property management (and also make tax time an absolute breeze!)
Keen to learn how we do it? This article breaks down our Australian property management solutions from A to Z, so you know exactly what you’re in for when you sign up with us.
When it comes to choosing a property manager for your foreign investment property, transparency couldn’t be more important. Because you’re not ‘on the ground’ yourself, it’s on your PM to keep you up to date with every facet of your investment. Being in the dark just won’t do if you want to nurture a successful portfolio.
At :Different, we get right at the heart of this concern with our investment property management software – our patented owner app that puts you in control of your property (wherever you are), with the tap of a button!
In the owner app you’ll find a whole heap of features that give you an in-depth overview of your entire investment, from finances to pending maintenance requests.
What you get from the Owner App
- Money in money out: Every financial aspect of your property in one place. Track all of your ingoing and outgoing income and expenses – rent, maintenance bills, leasing fees etc. – on one screen.
- Maintenance managed: View past and current maintenance requests and receive frequent updates on how pending repairs are progressing.
- Your lease: An easy way to check the time left on your lease, tenant details, and how much rent your property is being leased for.
- EOFY pack: Save yourself the toil of compiling those tax documents with one simple click. Everything you need, come tax time, is included in this handy digital package, neatly secured in a ZIP file.
- In-app messaging: Be conveniently connected with a member of the :Different team when you’re on the go, so you can get a quick answer to whatever question you may have anytime, anywhere.
- Documents on hand: Forget the struggle of trying to find some important documents in messy drawers or cabinets. Now you can access all important docs through the owner app, from tenant ledgers to landlord insurance, lease agreements and more.
Personal Property Partners
If you’re interested in investment property in Australia but are living overseas, you may very well be worried that the time differences will make it an ordeal to get a hold of your property manager when you need them most.
As part of our new service model, all :Different owners are paired with two personal property partners who know your property inside-out, and can provide support or advice when you need it.
How can we offer a 24/7 Australian property management solution? Easy – one property partner is based in Australia and the other in Sri Lanka. So, even if it’s the middle of the night, support is just an email or call away. And with at least 5 years of real estate experience, you can be confident that you’re getting an expert in property management.
Team of Experts
Being so far away from such a valuable investment can easily make you a bit anxious. How do you know your property is in good, capable hands?
With :Different you can enjoy peace of mind knowing that you and your property will have a whole team of experts behind it.
While traditional investment property management companies will only go as far as pairing you with a single property manager, we hook you up with a dedicated team of specialists who provide support round the clock.
- Our maintenance team uses our patented investment property management software to act as the bridge between you, your tenant and the tradie whenever a repair or maintenance request arises. They ensure issues are solved quickly and efficiently.
- Our leasing team is committed to filling your property with respectable, long-term tenants as fast as possible. And with local leasing experts located in every city we service, you can be assured you’ll get the best leasing campaign possible.
- Our customer experience team is there to mediate when things go awry. They won’t hesitate to hop on the phone and liaise between you and your tenants to achieve a result that’s fair for everyone.
- Our inspection team has the experience under their belt to know exactly what to look for when it comes to both routine and in-going and out-going inspections. If there’s something out of order, they’ll find it.
- Our finance team are the go-to people for everything money-related. Made up of chartered accountants, you can rest assured you’ll get paid what you’re owed, on time.
We offer a premium advertising campaign that spares no expense in showcasing the best of your property to help get your investment off the ground.
For the price of one week’s rent you can expect:
- Midweek and weekend open homes
- Rental appraisal
- Weekly performance reports
- Property ad written by our marketing team
- A dedicated leasing agent
- Advertising on Realestate.com.au and Domain
For an additional fee we will throw in:
- Professional photography
- Virtual stating
- 3D virtual tour
When it comes to leasing, we’ve definitely honed in on our craft and know how to get those applications flying in.
A major worry that comes with buying an investment property in Australia while living overseas is not being able to review applicants yourself. We are seasoned pros at vetting potential tenants, and we employ a tried and true two-step method for tenant screening.
First, we conduct a background check. This is where we go through an applicant’s finance and rental history with a fine-tooth comb, looking at their:
- Credit score
- Rental history
We then compare the applicant’s background info against our tenant selection criteria. This is where we dig deep to find you a good fit for your property by asking questions like:
- Is their weekly salary at least 30% greater than the rent?
- Did previous landlords have only positive things to say?
- Do they have a good credit score – around 600?
- Were they nice and easy to talk to during viewing and calls?
- Do they fit the target demographic for the neighborhood and your property?
After we’re done, you can rest easy knowing that you have yourself a reliable, long-term renter who’s unlikely to miss rental payments or break their lease prematurely.
As a foreign investor, one of the last things you want is to jump through hoops just to collect the rent. It should be a fuss-free affair after all.
To ensure you and your tenant have the smoothest experience possible, we use the Macquarie DEFT payment system - a super easy way to make secure payment anytime, anywhere from any device.
And while we do our utmost to fill your property with only the best quality tenants, it’s a reality that hiccups do occur. Tenants can, for one reason or another, fall into arrears. When this happens, we’ll be the first to know, and we waste no time at all following up.
We contact your tenant relentlessly by phone, email and SMS to get you the money you’re owed. And in those rare and unfortunate cases where we can’t solve the problem ourselves, we will attend tribunal proceedings, armed with our meticulous records, to secure a good outcome for you.
Repairs and Maintenance
Staying on top of maintenance and repairs is best practice if you want to avoid a relatively small problem ballooning into some costly fix. And thanks to our investment property management software, we can get to work on your piece of Australian real estate as soon as an issue arises.
The solution lies in our patented tenant app. No more unanswered calls or delayed replies, now your tenants can report a repair or maintenance issue immediately though our easy-to-use app.
From there, we review the request and determine the most suitable course of action to resolve the problem. Our software will even source the best tradie for the job from our trusted network of tradespeople.
Once the ball is rolling, you and your tenant will be frequently updated on how the repair is progressing, so you’ll never be in the dark about the state of your property.
There’s no denying that doing your taxes can be a real headache. Keeping track of every little transaction and financial document so it’s all ready to go come tax time isn’t the easiest thing to do - especially if you’re an overseas investor unfamiliar with Aussie tax law.
With the EOFY pack, we’ve added the perfect tool to your Australian property management arsenal that takes the hassle out of tax prep. This downloadable ZIP file is the ultimate tax-time goodie bag, complete with:
- Your annual statement
- Maintenance quotes and invoices
- Expenses and bills
- A full breakdown of income for the financial year
Like your own personal Australian property tax consultant, we give you the leg up when it comes to those investment property income tax deductions, saving you time, money and ultimately helping you get the most of your Aussie property investment!
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Disclaimer: The views, information, or opinions expressed in this blog post are for general information purposes only and should not be relied upon. We have not taken into account specific situations, facts or circumstances, and no part of this blog post constitutes personal financial, legal, or tax advice to you. You should seek tax advice from your accountant, specific to your situation.