Property will always be an investment option – sometimes it’s up and sometimes it’s down, either way, the long-term investment potential is dependent on a few factors:
- the securing of a good investment
- the placement of a quality tenant
- the sustainable management of that property
When buying to rent, one must always remember that no matter how good an investment the purchase was, if it isn’t managed well, it will never be a good investment.
TPN recently published a report that showed a sustained consistency in rental payments over the last four financial quarters (2010-2011). This is good news for owners as it means that, although the first quarter is typified by an increase in non-payments on rent, the percentage of good standing tenants (81%) remained the same from the second quarter 2010 through to the end of 2011’s first quarter.
It indicates that consumers are budgeting better than they have in previous years; a possible benefit from the recession and economic turbulence over the last three years.
This, however, is useless to property owners if their managing agents are not trustworthy, reputable or following the trends in the local and national market. Added to this is the new Consumer Protection Act (CPA), which came into effect in April 2011, which further empowers the renter.
The Rivigan Property Group uses TPN’s services for all of their rental checks to ensure that the best possible tenants are chosen for their clients. They strive for good standing from all tenants, but are realistic in the current economic climate; a client may have an excellent TPN credit score but due to high layoffs and downsizing, could find themselves unable to pay their rent.
RPG also pays meticulous attention to detail and employ staff to specifically manage the paperwork and contracts that are necessary in this process. This positions them as one of the best estate agencies to manage rental properties, both for owners and renters.
When dealing with a reputable and trusted agency, you are on the right track to sustaining a viable and profitable investment in your property. Make the smart choice; choose Rivigan Property Group.
