Prior to 2006 this property was owned and managed by various members of a Consortium. The block consists of 10 units but they had not been maintained and the décor was basic and dated. The common areas had been neglected and this was attracting anti-social behaviour. Despite the location, the property was not being successfully let or managed and as a result there were continuous voids which substantially reduced the annual rental income.
Able Property Services accepted a proposal from the Consortium to lease the entire block from the investors and following agreement, took over all aspects including letting, management, ongoing refurbishment, maintenance, utilities and compliance. Each unit was refurbished and the common areas were cleaned and re-painted and a weekly waste collection service was implemented. Good quality and long term tenants have been sourced and the Consortium now receives a guaranteed and substantially increased monthly income without any of the attendant stresses of voids and property or tenant management.
