Most property investors check their rental income when it lands in the account each month and leave it at that. The rent comes in, the bills go out, and as long as the numbers roughly add up, the property gets filed under "sorted" for another year. The problem is that a property can be ticking along quietly while still leaving money on the table, and you would never know unless someone sat down and looked at the full picture with you.

 

That is the thinking behind our Annual Investor Audit. It is a complimentary thirty minute review for our clients where we go through how your property has performed over the past twelve months and where it sits in the current market. We look at your rental return against comparable properties, your lease terms and renewal timing, maintenance trends, and whether the rent reflects what the property could realistically achieve today. The Perth rental market has shifted considerably in recent years, and a rent that was right at the last renewal may now be sitting below where it should be.

 

A review like this also surfaces the things that are easy to miss. Compliance obligations under the Residential Tenancies Act 1987 change over time, smoke alarm and safety requirements need to stay current, and small maintenance issues left unattended have a habit of becoming expensive ones. Looking at all of this once a year, deliberately, is far cheaper than dealing with it reactively.

 

For investors with more than one property, the audit becomes even more useful, because it lets you compare how each asset is tracking and make decisions about your portfolio as a whole rather than one property at a time.

 

If you own an investment property in Perth and you are not sure whether it is working as hard as it could be, this is exactly the conversation worth having. Get in touch with the team at SOCO Realty to discuss further about how we can match your needs.