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Making the Most of Your Investment Property with Professional Property Management

Looking for an investment property in Dunedin or Otago? You've come to the right place. Here are three tips on how to find the perfect property, as well as all you need to know about how a professional property management company can help you make the most out of your investment.

1. Location, location, location

When looking for property to invest in, location still holds a lot of weight in New Zealand. It's long been believed that cheaper homes will provide investors with a bigger return on their investments when compared with more expensive houses, but this isn't always the case. A lot of it has to do with which part of the country you are looking in. According to Global Property Guide, properties sell the fastest in Auckland, which also has the country's most expensive housing.

Meanwhile, the Northland region experiences the longest number of days on average to complete a sale. Whatever your budget, make sure you do your research and find the perfect location to purchase property in. Have a look around different suburbs and weigh up the pros and cons of each. Median selling prices and average rents will differ depending on the property and location, and this could have an effect on the amount of money you receive every month.

How a property manager can help: If you are looking for a property in Dunedin, a professional property manager has the knowledge and experience to help you find the right area for your budget and requirements.

2. Consider apartments

Traditionally, houses generate much bigger profits for investors than apartments, but this is changing in several locations across New Zealand - including Dunedin and Otago. In fact, these cities have apartment markets that offer investors a good return - if they know what they are looking for.

Newer apartment complexes also might save you more money in the long run, especially if a unit doesn't require much in the way of maintenance. New apartments might cost less than older, larger houses that are in a bad state of repair.

How a property manager can help: Apartments, as well as houses, can be managed by your - providing you with the peace of mind you need if you don't reside in the local area, or don't have to deal with the upkeep and maintenance of your property yourself.

3. Improving older properties

Older properties that are in desperate need of repair aren't always a no-no if you are a shrewd investor. Repairing these homes and then increasing the rent could eventually cover the cost of refurbishment, and provide you with a higher income. You will need to consider whether it is worth the time and effort to improve a property but if the home is in a highly desirable or up-and-coming area it could be a very sound long term investment.

How a property manager can help: once tenants have moved into your Dunedin rental properties, Otago based property managers will be able to handle all the administrative duties for you, including collecting rent and carrying out inspections.

Want a property management service that you can count on? Click Property Management provides a first-class service in the Dunedin area. Visit www.clickpropertymanagement.co.nz for more information.

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