Making Smart Choices with Residential Property Investments – April 2016
by Tracey Sparrow
Residential property investment has always been an attractive option for Kiwis who want to boost their annual income or supplement retirement plans.
This type of investment involves purchasing a residential property so that it can be rented out to produce rental income.
While the concept may sound simple, amateur residential property investors may find themselves disappointed with yields and frustrated with the amount of work required to manage and maintain a rental property. For the savvy investor, however, residential property investment is one of the most lucrative forms of investment in the New Zealand market.
There are a variety of ways of looking at residential property investments. One such way, is by working with a company that specialises in this area, who takes ownership and will assist you through the sometimes daunting investment process. We present this as one option available to you….
Residential Property Investment Made Simple
If you’re thinking about investing in a rental property, there is one surefire way to maximise your yield and minimise the hassle – call in the experts! Unless you are proficient in financial planning and actively engaged in the Christchurch residential property market, you are unlikely to have the knowledge and skills required to select, market, and manage your residential property investment. A smarter choice is to work with a company who specialises in residential property investment.
At Irelands, many of our property management clients enjoy high yields with minimum effort, thanks to their engagement with Strategic Property Concepts (SPC), an investment firm who focuses primarily on residential property investment. SPC excel at:
• Creating property investment packages that suit their investors’ unique needs
• Selecting build sites that will afford the highest yields
• Building properties that are desirable to tenants
The Specialist Difference
Based on their many years of experience, SPC are able to offer an effective approach that covers the entire residential property investment lifecycle. The process begins with an initial meeting, during which their investment specialist gains an understanding of your financial situation and goals. If the specialist feels that property investment is a good choice for you, the team at SPC will conduct a full property investment analysis and propose an investment package that will best suit your needs. Once you have approved the package, SPC will select a site for your new property and work with you and your solicitor to arrange any necessary financing. After all the financial aspects are sorted, the build will commence. The property will be completed to show-home standard so you’ll be ready for your first tenants upon its completion.
Smart Investors work with Property Managers
Most residential property investors are eager to have their new investment property rented out as quickly as possible. They also want to ensure that their tenants pay rent on time, are happy with their rental, and that new tenant rollover is handled efficiently to maximise yields.
This is where Irelands come in. As one of the leading property management companies in Christchurch, we manage a large number of investment properties. When an investor wants to work with a property management company, SPC will contact us early during the build process to formalise the relationship. In many cases, we are able to select new tenants and have contracts signed in advance, allowing the owner to start receiving rental income immediately after the build is complete.
Working with Irelands helps maximise yields and protect your investment in the following ways:
• Top quality tenants are selected through our rigorous application process
• Properties managed by Irelands enjoy high occupancy rates
• We ensure timely collection of rent
• We conduct regular inspections before, during, and after tenancies to protect your investment and ensure it will provide the highest returns for years to come.
Learn more about Residential Property Investment
For more information on the above, we encourage you to get in touch with our friends at Strategic Property Concepts. If you are currently managing your own investment property and want to learn how Irelands can reduce your property management overheads, please call 03 377 2090 or email us today.
A testimonial from one of SPC’s happy clients:
“I wish to thank you (SPC) and your staff for the great service Karin and I received in the process of entering the investment property market last year.
Your explanation of how the whole system would work, coupled with finding a great building site in the Skyedale development made the process very easy for us. The assistance with design and decour through your package system removed many doubts we had and your management of the whole building process was superb. The follow-up arrangements in fixing the very minor touch ups has been great. The quality of construction, materials used and supervision during the whole building process has delivered a high quality and well-built house that will stand the test of time. Based on your recommendation, we were very satisfied with Irelands, who were able to find a tenant prior to the completion date.
When the time is right for us, we would not hesitate in contracting you to undertake the management and construction of another property for us”