Why invest in commercial property?
Smart investors choose a combination of residential and commercial properties to compliment their portfolio. Commercial properties have higher yields than residential properties normally in the vicinity of 5% to 10% rental return per annum in some cases.
Commercial property alos have longer leases that can range from 3 years to 10 year leases. In some leases the commercial tenant pays for all of your outgoings which includes council, water, strata, insurance, land tax and property management fees.
Captial growth for commercial property varies depending on the type of property for example a free standing warehouse and office space will generally double in value over a 10 year period whilst a strata warehouse will double over a 15 year period.
In general property is one of the most stable forms of growing your wealth, but you should consult with a professional commercial real estate agent or financial adviser before making a decision. Commercial properties can sometimes take alot longer to lease and can be impacted by changes to infrastructure, economic, market, supply and demad and legislation amendments.
Choose the right property manager
Selecting the right property manager is one of the most fundamental decisions you’ll make and can make a difference on your overall returns. As an investment property owner, you want to know that your property or properties are being managed by a professional, educated and highly experienced team. Statewide Commercial Property has over 23 years experience in commercial property management and we know how to handle difficult tenants.
Property management is not as simple as a rent collection service, it is a dynamic investment management and full service system. It includes a variety of services that align with constant changes in legislation, landlords insurance, ensures fairness for both owners and tenants, court requirements, rent reviews, lease renewals, day to day maintenance and much more.
Now more than ever, it is prudent to ensure that your property is professionally managed by entrusting it to a manager who is trained, experienced and equipped to meet these ever changing needs.
Property managers work within a licensed Real Estate Agency. It is therefore the agency owner who is ultimately responsible for the property, so it is essential you choose a reputable name you trust when selecting the business for management of your property. It’s a big decision that creates a medium to long term working relationship and you need to feel comfortable with the company you’re dealing with. Rest assured, when you choose Statewide Commercial Property, you will be making the right decision just like many other happy property investors and owners who have put their faith and confidence in us to professionally manage their property.
Our property management services
Once you have entrusted us to manage your property, you will be exclusively authorising that agency to act on your behalf. We will then appoint experienced property managers, who will be responsible for the day to day management of your property and tenancy.
Your property manager/s will act as guardian/s of your property and will provide a range of ‘personalised’ services that all include:
- Prepare marketing photos, floor plan and wording.
- Upload property to website for advertisement
- Conduct inspections with tenants
- Professionally screening and help you select tenant
- conduct full reference checks on tenant
- obtain 1 months holding deposit and prepare lease advice
- Prepare lease or obtain lease from solicitors
- Collect bond or bank guarantee from tenant
- Lodge bond with bond board if required
- Arrange keys and comprehensive ingoing inspection with photos
- remove property from websites once leased
- issue invoices/receipts to tenant for rent
- Provide owners and tenants with explanation of lease and their rights as per legislation
- Arranging for any repairs and maintenance to the property such as gutter cleans, roof repairs etc
- Paying of any bill for owner such as water, strata, council rates, land tax insurance etc
- recommend insurance including land lords insurance
- Help with processing any insurance claims that may arise
- chase up arrears and have zero tolerance for arrears
- issue notice to tenants on 15th day if behind in rent
- Charge tenant interest as per lease for any rent in arrears
- Lock out tenant if tenant does not pay on time or breaks conditions in lease
- Exercising the owners/tenants rights to terminate leases and tenancies
- Reletting the property at the end of each tenancy in the event of a vacancy
- Conduct routine inspections
- Complete comprehensive outgoing inspection with photos
- Doing all such lawful things as may be directed by the owner in writing from time to time
- Issue owner with rental statements
- Issue owner with end of financial year statements
- pay owner mid month or end of month
- Allow owner access to our online property management portal