While most investment property owners are content to sit back and let the rental income roll in, a savvy group of investors across Canberra are growing their property portfolios with the help of a team of experts focused on wealth creation.
The Property Collective director Hannah Gill is encouraging landlords to “delve a little deeper” into how their property is managed and to keep up-to-date with the fast-changing property market.
A “property health check” could result in significant savings or increased profits for landlords.
She says an integrated property management service enables clients to share in opportunities that will ultimately create wealth through property.
“This approach includes the convenience of services and connecting relationships that are not typically available under a standard real estate model, such as a mortgage broking service and access to financial advice,” Hannah said.
“Our partnerships with property experts we trust can help investors identify the best time to buy another property and can help find the perfect property to suit their needs.”
Daniel Hoang is one of hundreds of landlords taking advantage of The Property Collective’s strategy to help people manage their investments and identify opportunities to grow their wealth. He started with one property in Forde 10 years ago. He is now the owner of several properties across the city.
As his property portfolio expanded, Daniel wanted a contemporary property management team with its finger on the pulse to look after his investment and his tenants while maximising his income.
“They know at all times where things are or should be at, such as market rents, which is especially important when it comes time to doing the rent reviews,” he said.
With properties throughout Canberra, including Forde, Harrison and Wright, Daniel says the Property Collective team members communicate well between landlord and tenant, and care about building strong relationships.
“They are prepared to put their money where their mouth is,” Daniel explained.
“They offer rental bonds for the tenant as a guarantee to the landlord, and correctly qualified tenant selection is a priority for them too.”
He says the team provides “cool, modern marketing and social media presence” and “lots of helpful education tips”.
“They email me to keep me informed of law changes and use high-tech software to report maintenance and condition reports.”
Hannah, who was recently listed among Elite Agents top 50 real estate influencers for 2022, says since it was launched two years ago, The Property Collective has flourished, with more than 1000 Canberra properties on its books and plans to expand its model into Victoria and Queensland.
“The response from landlords, tenants and the community has exceeded our expectations in many ways,” she said.
“Our operating model has really paid off for our clients, and many have seen growth far beyond what they anticipated.”
Hannah says Canberra landlords just entering the market, or those who are plodding along, are encouraged to reach out for a free health check to see how their property is performing in the current market.
“We’re happy to help landlords delve a little deeper into how they can make more money or save money through proactive management and property upkeep,” she said.
“We look at the performance of a property from a yield and cash flow perspective and connect clients with financial advisors and sophisticated accounts to help them increase their portfolio performance or number of properties.”
The company recently took on a portfolio for a developer with 30 clients, and a Property Collective “health check” found a possible increase in annual income of up to $80,000.
Daniel says when it comes to day-to-day operations, the team is an important “missing link” between landlords and tenants, with a maintenance hub providing access for tenants to report any issues.
“The Property Collective also has a portal for tenants to search and pick apartments to rent by floor plans. Everything is at their fingertips, and they can pretty much make a decision prior to actually inspecting the property,” he said.
The Property Collective does much more than collect the rent and unblock the toilets, they’ll vet tenants, appraise rentals and health check property portfolios, all while keeping wealth creation at the forefront of their approach.