Rent Choice Case studies

First Time Investor

1 property

Westminster

About The Client

Our clients, who were first-time investors, recently purchased a property in Westminster. However, they were met with a few challenges before the property was ready to be presented to potential tenants.

Client’s Needs

The clients needed a reliable and experienced property management service provider to help them to overcome the challenges associated with leasing their property in Westminster. They also wanted to expedite the leasing process and find qualified tenants as soon as possible.

Challenges Faced

  • The property in Westminster, our clients were in the process of purchasing it and it had not yet settled, but they were eager to lease it quickly.
  • To prepare the property for leasing, a full garden tidy-up was necessary, which had to be arranged ahead of time so that the work could be completed as soon as settlement occurred.
  • To protect the owners' legal interests, ensuring that all necessary paperwork was completed accurately and on time was essential. This included arranging for a Property Condition Report to be done prior to the tenancy beginning, to thoroughly document the handover to the tenant.
  • The Lease Agreement and payment of ingoing funds for post-settlement needed to be facilitated as soon as possible for the security of the tenancy. It ensured the property could get new tenants into the property fast.

The Solution

After reviewing the client's needs, our team proposed a comprehensive plan to expedite the leasing process and ensure a successful outcome, such as negotiating access for home opens prior to settlement and completing a full garden makeover.

We began our campaign three (3) weeks before the property was due to settle and proactively kept the owners informed with regular updates. By remaining in close communication with the sales agent, we were able to keep abreast of settlement, maintenance quotes and home open arrangements.

To make the property more attractive to potential tenants, we arranged for a full garden tidy-up to be completed. We also completed a Property Condition Report in advance to reflect the condition at handover.

Our plan consisted of four different stages:

Step 1: We provided recommendations to our clients to attract quality tenants, including a garden makeover to ensure that the property was presented in the best possible condition

Step 2: We negotiated with the sales agent to gain access to the property before settlement, so that we could conduct home opens, obtain quotes and attract potential tenants early.

Step 3: We launched a comprehensive marketing campaign before settlement to generate interest and minimise the vacancy period.

Step 4: We promptly organised the completion of the Property Condition Report, so that the tenant could move in as soon as the property settled. By implementing these measures, we were able to successfully lease the property quickly and efficiently, meeting the client's needs and ensuring their satisfaction.

Results Achieved

Rent Choice’s strategic approach yielded excellent results for our clients. Our streamlined strategy helped us to quickly secure a quality tenant for the property, enabling the owners to begin earning income from their investment right away.

By negotiating access for home opens before settlement, completing a full garden makeover, and arranging the ingoing process early, we were able to avoid a lengthy vacancy period for the owners and achieve an optimal rent. The property was settled after only two home opens, and the tenant was ready to move in shortly thereafter.

Our approach not only helped to minimise stress and costs for the owners, but also set them up for a successful investment journey. By reducing the vacancy period and generating income quickly, we were able to provide our clients with a stress-free and profitable investment experience.

Purchasing an investment property can be stressful and costly. Rent Choice was able to assist by reducing a vacancy and creating income quickly for the client—setting them up for a stress-free investment journey.

Are you a first-time investor unsure what you need to do to get your property tenant ready? Feel free to call us, and our team of experts would be happy to help. Let’s discuss your needs and explore how we can help you achieve your investment goals.

*IMPORTANT: The hypothetical examples above are not actual figures of the case study. These figures are an opinion held by Rent Choice and have not been independently verified. The above examples intend to give the reader an understanding of the cost of the above scenarios which did not happen, but may or may not have possibly occurred should a different path of action by the property manager take place.

Ready to get Started?

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.