Why choose ALEXA Real Estate to Manage your property?
You've just discovered a boutique Real Estate Agency that specializes in renting South Australia's best addresses…. We believe, better than anyone else. It's a bold claim, but we think you'll agree. Here's why.
ALEXA Real Estate understands that your investment properties are your biggest and most valuable investments. Naturally, you want the best possible outcome… you also want sound advice you can trust and professional service you can count on. You want your investment performing at it's best and not only gaining the best cash flow it can, but also being geared up for maximum capital gain through maintenance and value adding.
ALEXA Real Estate is not just another real estate company… we pride ourselves in being different in many positive ways that give our clients a significant edge in the performance of their investment property.
We appreciate your individual needs and are dedicated to providing the highest standard of personalised professional service… you'll never feel like just another rental property to us.
We understand the rental market and we understand investments better than any of our competitors. In fact we have been teaching market trends, maximizing investment returns and negotiations for our clients for the past 10 years. We have many publications in wealth creation and have toured the world as international speakers in business leadership and advocating wealth creation through property. This gives us a significant edge when it comes to maximizing the performance of your investment property.
We offer added value and additional benefits… our office is equipped with maintenance staff, interior decorators and everyone we need to maximise the potential income of your property and the speed at which we can move it on the rental market.
As a boutique property management agency specializing in the best performing investment properties in the whole of South Australia, we can deliver the level of professional service and up to date market knowledge our discerning clients expect and the best and quickest turnover of rental properties you have ever seen. That's why we know that you will choose ALEXA Real Estate to manage your investment properties.
Meet the Team
Xenia Ioannou – Principal
Xenia is the principle of ALEXA Real Estate and a strong advocate through creating wealth and financial independence through property investment and business. Xenia began investing in and managing investment properties from the age of 19 and has had over 25 years of experience in the field.
Xenia is also a prominent business person in the Real Estate industry and has appeared in many newspapers, magazine articles, coffee table books, radio talk shows and TV interviews for her experience and commitment to financial independence and skills in leadership and motivation. Xenia is also an international speaker in the areas of investing, leadership and business and has been a guest speaker on many stages around the world including sharing a stage with Bob Proctor (from the book "the Secret") and other multi-millionaires in Europe. She has also written many published books on leadership and creating wealth through property and business.
Xenia's skills are invaluable in maximizing the potential of your investment properties. Her intense awareness and focus on the business regularly results in almost zero vacancies between tenancies for her investor clients. Together with a team of experts including Xenia and husband Angelo, ALEXA Real Estate's investing, developing and renovating knowledge will ensure that your property is presented at its best so that it achieves the best market rent and the best tenants possible. Xenia's skills in dealing with people will achieve an outcome for you very quickly. Xenia is a natural leader and her ability to understand people ensures that her staff play to their strengths so that every aspect of managing your property is maximized to the highest standard possible. ALEXA Real Estate is a very happy environment of staff and clients – we aim to keep it that way on purpose.
Click here to visit Xenia Ioannou's Blog
Click here to visit Xenia's Youtube Channel
Angelo Mena – Managing Director and Real Estate Sales
Angelo runs the sales division of ALEXA Real Estate and available to give our landlords any information and suggestions on renovating, developing, subdividing and adding value to property. He is also the go to person if you want to know what your property is worth. Angelo is also available to provide pre-purchase suggestions to investors based on his experience in running a buyers agency for many years prior to stepping full time into ALEXA Real Estate with Xenia.
There is no substitute for excellence and performing at the highest level. Excellence in any area of life will always be valued highly and will always be something highly sought after.
As a PhD graduate working as a post doctoral fellow at international research institutes, Angelo very quickly came to realise the importance of performing at the highest levels and the importance of developing novel solutions to problems that had yet to be solved.
Moving on from research, he immersed himself deeper into various aspects of real estate, which included the buying and selling or residential real estate, commercial real estate, renovating property, developing property, international purchase of real estate in other countries as well as implementing other real estate purchasing strategies, he came to gain broad firsthand experience of the industry. Further adding to this experience was many years of serving as a professional buyer's agent for the purchasing of Adelaide residential investment property on behalf of his clients both nationally and internationally. This experience introduced him to hundreds of real estate agents and with this came direct knowledge of what were effective real estate practices and what were not.
Owing to the broad based experience gained in the real estate industry Angelo has been invited to lecture in the area of real estate and real estate negotiation across the country and from his detailed knowledge has authored the book 3P Negotiating: The Philosophy, Process and Persuasion of Buying and Selling Real Estate.
Angelo now heads the Sales arm of Alexa Real Estate and the consistently outstanding results he continues to achieve comes as a result of both broad and detailed knowledge in the area of real estate and a continued desire to learn and succeed for his clients.
Kimberly Rose – Office Manager
Kim's career in Real Estate Property Management began in 1983 carrying out routine inspections and arranging maintenance for a real estate office in Blackwood South Australia.
Kim spent over 30 years working for property management agencies where her knowledge base spread across all aspects of property management procedures and trust accounting in two different property management systems.
Kim entered her career in property management from a trust accounting background in a Queensland law office and was able to fully transition those trust accounting skills into Real Estate Office management where trust accounting is a core skill to utilise.
At ALEXA Real Estate Kim drives the front office utilising her skills in property management administration, trust accounting, inspections and maintenance. Kim keeps everything property management running like clockwork.
Michele Chantrell – Administration and Accounting
Michele has a strong book keeping background and ensures that all financial transactions run smoothly. Michele is also an investor and understands the importance of property paperwork for investors.
When you engage ALEXA Real Estate to manage your investment property you also engage a book keeping service that is complimentary to you but will keep all your accounting records in order.
Accountants love our format and service and Michele is the person behind this exceptional service.
The ALEXA Maintenance Team
In addition to professional plumbers, electricians, builders, joiners and carpenters, we have on board four general maintenance people, who have strong backgrounds in renovations, interior design, garden landscaping, fencing and general repairs. These guys ensure that all our properties are presented to their absolute best in between tenants and before tenants move into properties. In addition we have a team of "end of lease" cleaners ensuring that properties are detailed before new tenants move into properties, every area of the property from cleaning walls, to exhaust fans, ovens and windows are taken care of. Our properties are therefore presented in the best possible way and the great news is that we have systems where most of this work is paid for by the tenant (except off course repairs and maintenance). If you want properties to be respected then you need to provide tenants with something to respect and this is where we as a team at ALEXA Real Estate can shine. We work hard after hours to ensure that a property is perfect before an ingoing inspection is done and an expert maintenance team that can make this happen.
The ALEXA Real Estate Difference
With our experience in investing and leadership, there is no doubt that we do things differently, here's why you should move the property management of your property over to ALEXA Real Estate right now.
Our Biggest Strength -We minimize vacancies.
While others also claim this, we actually consistently achieve minimal or ZERO vacancies for our clients. By far vacancies are the biggest cost to property investment and it takes other investors to understand this very significant financial risk. Reducing vacancies is more than just advertising the property and hoping for the best, it is an active process that takes months of preparation and focus.
How we re-lease properties that are currently tenanted during non – renewal or break lease periods. If a tenant has decided to not renewal their lease, they need to give us 28 days notice for a fixed term lease or 21 days notice for a periodic lease agreement. We use this time to source and sign leases for new tenants. Advertising is done in advance and open inspections to show potential new tenants through are best done while the property is furnished and presented as a "home" by the current tenant. If an agent has great communication and rapport with tenants then this part is a breeze. However we can also use legal methods of gaining entry for the purpose of open inspections in the case of broken relationships with a tenant – which do sometimes occur in the property management industry. Detailed vacating and presentation instructions are also sent to the vacating tenant so that the property is presented in the best way possible to new tenants. We have specific reward programs for our tenants that provide incentives for them to allow this to happen so it is a win/win for both tenants and landlords.
We also have our own in house maintenance and cleaning companies with people ready to present your property in the best way possible working straight out of our office.
There is no other agency in South Australia that constantly achieves such low vacancy rates for their clients.
That's because they do not have the focus or the people to do it and many wait until a property is vacant before they put it on the market or will coordinate a new lease to begin a week or couple of weeks later to allow the property manager the luxury of maintenance and cleaning during that vacancy period. On an average $400 per week property – that 2 weeks vacancy that takes the pressure off a property manager has already cost the landlord $800.
Some examples of how we have done things differently:
Fully Furnished Executive Townhouse in Seacombe Gardens:
We manage eight similar properties on the same street at Seacombe Gardens and we have achieved ZERO vacancies for almost all of them all the time. One of these was privately managed by the owner at $475 per week, it was handed to us at the end of the lease with a month left to go. We immediately advertised this property for $500 per week and arranged access to show prospective new tenants through the property. There was a potential tenant who wanted to start the week before the end of the current lease. We negotiated with the current tenant to vacate 4 days prior to the end of her lease and therefore not pay for the last 4 days of rent. On the day the tenant vacated, our cleaners were there until 10pm at night to ensure that all was ready for the new tenant to move in the next day. With tight schedules such as these, there is no other time to conduct end of lease cleans and this is the only way to ensure that zero vacancies are achieved for the landlord, not to mention an instant $15 increase in rent. This is a typical result for ALEXA Real Estate and we achieve this process continuously with most of our rentals.
Another Fully Furnished Executive Townhouse in Seacombe Gardens:
As we were in the process of preparing the lease for the Seacombe Gardens townhouse above, we received another tenant enquiry who wanted a lease in 5 months time as they were moving to Adelaide from interstate. Off course we could never hold a house vacant for 5 months waiting for tenants to arrive, plus the townhouse in question already had a pending lease. We did however receive notification that one of our other rentals in the same street would not be renewing their lease and their lease had 5 months to go. We negotiated end dates with the current non-renewing tenants and start dates with the current tenant so that a new lease was signed the day after and with zero vacancies. This property was not even advertised yet. The great news for this property was that the new tenants signed a lease and started paying rent 3 weeks before they actually arrived in Adelaide so that they can hold the property. This gave us plenty of time to ensure that the property was rent ready prior to their arrival.
Three Bedroom Home in Munno Parra:
This home was being sold by ALEXA Real Estate and was under contract when we received an enquiry call asking if we had any properties in the area. The professional couple who were developers in that area were shown through the property and they loved it. They paid two weeks rent and a full cash bond to hold the property three months before settlement. The lease was signed after the contract went unconditional and was started on the day of settlement achieving ZERO vacancies. This property was never advertised for rental for the new owner, although we had held it as a rental since it was built 7 years before. We sold it vacant with some improvements – new paint and new carpet and the new rent for the new owner was $15 more than it was previously rented for.
Four Bedroom House in Modbury:
This house was placed on the market a month before it was available for lease. Current rent was $400, we had a month so we tested the market at $450. We received a call to book an open inspection within 2 hours of advertising. A family from Brisbane with perfect references. They applied for the property but wanted to begin within 2 weeks. We negotiated with the current tenant to make the property available 2 weeks prior to the end of their lease, again we took possession of the property and had it professionally cleaned, touched up and carpets cleaned before handing keys over to the new tenant. Again this property achieved zero vacancies and a great rent increase at the same time.
Three bedroom house in Plympton:
This one was tricky, it was a new purchase by one of our investor clients and the selling agent did not allow access prior to settlement for the purpose of showing new potential tenants through. When purchasing investment properties that are for the purpose of renting, it is always a good idea to negotiate with the owner that a property manager can have access to the property to show tenants through prior to settlement. That way, a lease can be coordinated with settlement date and vacancies can be minimized. This was not a house that was sold by our company and the selling agent was not accustomed to this idea so we had to wait until settlement to enter the property. Given this restriction, we did however advertise the property prior and had arranged an inspection on the day of settlement. We picked up the keys from the selling agent as soon as the property settled and was owned by our client, and did an inspection for potential tenants on that day. In order for this to happen, we checked in and kept in contact with prospects informing them that we will have access soon and that it would be worth the wait. Also, to fast track the process, we had encouraged people to put in applications sight unseen so that we can have them pre-screened before the inspection. One of the applications was a double income couple with great references who were perfect for the property. The only thing was for them to view the property. They attended the open inspection on the day of settlement and loved the property, the only thing was that it was not cleaned to our standards. We had cleaners standing by who got the property up to scratch within 12 hours. The couple signed a lease the next day. Total vacancy for this property was 24 hours and like most of our landlords, this owner was thrilled to bits.
Three Bedroom Home in Kurralta Park:
This home was sold by our agency to an investor and we negotiated access to show potential tenants through prior to settlement. It was rented to a high income doctor for $450 per week and the lease started on the day of settlement so that the owner received rent from day 1 with Zero Vacancies.
Executive townhouse in Norwood:
This property was being privately managed by the owner at $700 per week and he rang up to enquire on how to achieve a higher rent. As the house was an executive townhouse in an upmarket area we targeted the ad towards corporate tenants and achieved a tenant within a week at $990 per week, $290 more per week than what the client was achieving privately. Again, cleaners and maintenance was coordinated after hours so that we can achieve a move in date for the $990 tenant the day after the $700 per week tenant had left resulting again in zero vacancies. The great news about this property is that we advertised this property again towards the end of the current corporate lease and again achieved another high end corporate tenant paying $990 per week, again with zero vacancies as everything was prepared prior to lease end. That means that this property has had zero vacancies throughout its history of being managed by us.
Three bedroom home in Newton:
This property had the same outcome as above with a move out day of one tenant being the day before a move in date with a new tenant. The rent increase here was $350 to $380 per week which is what the area was capable of holding. The end of lease for the current tenant was truncated by 3 days to allow move in by the new tenant. The garden in this property however was not ready, there were weeds overgrowing into garden beds and the current tenant had no time to rectify the problem due to the earlier release of their lease and no time in between tenants. We negotiated with both sets of tenants that the gardens will be done within a few weeks of the new tenant starting the lease and since there was nothing else precluding the new tenant from taking possession, we arranged for this to be done while the new tenant had moved in so that again vacancies can be minimized as much as possible.
The above are just a few snap shot examples of how we achieve Zero vacancies, they are not one offs, they are the norm for ALEXA Real Estate and if we listed every property we did this with we would still be printing this document.
While other agencies say that they minimize vacancies, we actually have real systems in place to do this and achieve it consistently.
As a result we achieve ZERO VACANCIES multiple times every single week, in fact we achieve it with 90% of our rentals and this is our number one main focus at ALEXA Real Estate.
Most other agencies will allow one or 2 weeks in between tenants to get things organized, most will not even sign a new lease unless the previous tenant has completely vacated or the property has fully settled – they run their business on fear and are too scared to take that chance, focusing instead on what can go wrong. Most other agencies cause vacancy rates to be anywhere from one to four weeks, in fact it has become so common that most investors will factor a 4 week (at least) vacancy into their profit and loss predictions for the year.
We do not think that a 4 week vacancy should be a common expectation for investors – in fact it's negligence and fear that causes this not market demand. That means that we actually do and achieve what other agencies only dream about.
One thing to note however is that, while we put a very strong focus on achieving zero vacancies and achieve it with 90% of our properties, it cannot be achieved with every property every single time. The market demand for properties varies between properties, suburbs and market seasons. Most agents cause vacancies by taking the easy and safe route and most are unable to secure a tenancy within a 12 hour turnover because they do not have the facilities to work after hours to achieve this. Our zero vacancies focus means that we do not cause vacancies because we do are not afraid of hard work and the pressure of making it all happen, we will work hard for your property to achieve the best outcome but we off course are unable to control market conditions.
Our Service is Guaranteed
While we are dealing with the best systems and protocol that any property management agency can offer, things can go wrong in any business. When you are dealing with human beings, things can get misplaced, forgotten or lost. This will never be your problem, if you ever suffer a financial loss as a result of a transaction going wrong that was the fault of any of our staff, you will be personally guaranteed by the principals of this company.
We offer you an investor's handbook detailing how we handle your property every step of the way, if you find that we missed something and you bring it to our attention, we will have 48 hours to rectify that issue. If we do not then we will manage your property for free for 3 months as a compensation to you.
Rent Arrears are Minimised
Arrears are minimized by deducting rental payments directly from tenant bank accounts, however on days where funds are short for tenants we offer credit card payments over the phone to our office and other methods to make it as easy and as flexible as possible so that tenants have no excuse to fall behind in rental or water invoice payments.
We are also partnered with a national debt collection agency, Barclays MIS, who are able to exercise certain influences under debt collection legislation to handle arrears in ways not available to property managers or private landlords.
Arrears in our office are usually below 3% of our total rent roll – that means that less than 3% of all our tenants are in arrears by 7 days. On occasions where tenants do fall in arrears, they are served breach notices followed by legal action to rectify the breach or end the lease and mitigate losses through bond refunds and re-letting. Due to our low vacancy procedures and systems, combined with our affiliation with expert landlord insurance companies, we are usually able to recoup all losses for landlords even if tenants do fall into arrears.
Getting you the right landlords insurance
When it comes to insurance, it is important that you are covered by an insurer that specializes in investment properties and not one that specializes in home insurance. There are only a couple of companies in Australia that specialize in investment properties. We are distributers of Property Insurance Plus, a specialist landlord cover that has a zero excess on rent arrears claims and deals with usual tenant damage within a property.
Non specialist insurers are fear based and focus on unlikely events like tenants maliciously damaging properties with a sledge hammer – (this has never happened within our 10 years of owning a property management company). More normal tenant damage like stains on carpets, pet damage and removal of damage left in a property are not covered by non-specialist insurers, in fact they do not want to know about it. Moreover, they add an excess to arrears claims.
Claims for rent arrears are by far the biggest claims put through to insurance companies by property managers. Even great tenants can fall into arrears due to lifestyle changes like divorce, illness or job instability. Since there is a small chance your tenant can fall into arrears somewhere within the rental period (versus virtually no chance that they will destroy the property with a sledge hammer), isn't it better to have an insurer that has your back on this? The insurers we work with have a zero excess on arrears and understand the more likely scenarios that can go wrong in renting without the scare tactics and fear based marketing.
When making insurance claims whether for arrears or damage or building, it is important to understand insurance lingo, what is claimable, what is not and the best way to present each claim. At ALEXA Real Estate we have a person dedicated to insurance claims. She has been specially trained to deal with claims and compliance of properties (smoke alarms and electrical certificates) and that is the only thing she does all day. That means that where claims are concerned we will ensure that the benefits to you are maximized at the same time as ensuring that losses are minimized within that property. Arrears are a part of property management that sometimes cannot be avoided due to human nature but if it occurs rest assured we have your assets covered.
Our star property manager Xenia is a professional marketer and copywriter due to many years in running a large international promotions company and bringing many internationally recognized speakers to the South Australian platform. Xenia uses this background to write expert copy for the marketing for all our rental properties. Nothing is abbreviated or listed in point form, every property is presented as if it was a masterpiece. We also use professional photography, floor plans and signage where appropriate.
Tenant Database Checks and screening.
Tenants apply for our vacant properties through a comprehensive application that provides us with lots of information of who they are and where they have been. 100 points of identification are taken at the application process, references are checked specifically looking at a stable rental history and the ability to meet the financial commitment required by the property they are applying for. We also look for evidence of good housekeeping and responsibility.
Tenants that have defaulted on rental payments in the past may be listed on tenant default databases allowing us to check before their application is processed in our office. Our debt collection partners Barclays MIS may also run their own checks through their independent default database providing us even more information regarding the tenant.
Your Property Presented at its Best
The advantage of having our own in house maintenance team is that we can book them into jobs where we need them most. Off course we give specific attention to urgent matters and properties available for rent so that we can have them rent ready as soon as possible. All our properties receive a detailed vacate clean as soon as the tenant moves out or when we first get them on the market. There are 2 main reasons we do this. One is off course that a property presented in the best possible way will attract better tenants and rent quicker – we do aim for zero vacancies were possible as mentioned previously.
The other reason we conduct detailed cleans between tenants is that we want our ingoing inspection reports to report a very high standard of presentation and cleanliness (to the best of our ability considering the age of the property). The idea behind this is called the "graffiti effect", if a small graffiti tag is placed on a property and it is left there, it will attract more graffiti over time and eventually be completely disrespected and trashed. If the initial graffiti is cleaned off immediately, it sets a message to the community that this wall or building is respected by the owners and no damage will be tolerated. Same with rental properties, if a few dirt marks on a wall are recorded in an initial inspection report, there will be a few more by the end of a 12 month lease. If a few burn stain marks are left in an oven, there will be more at the end of the lease. In a few years the property will suffer great wear and tear due to disrespect and poor housekeeping. Tenants may not be doing this on purpose because they are nasty, but if the agent does not care and is happy for the previous tenant to just wipe over things and leave marks and stains everywhere then they will do the same and the property will deteriorate faster as a result.
For this reason, our professional cleaners will detail a property, removing all marks, dirt, stains and dust. We pay particular attention to ovens, shower screens, skirting, window frames, windows, switches and power points and on top of cupboards – the things that usually get overlooked as tenants focus on floors and benches.
Our big point of difference is that we have a zero vacancy focus for properties and that means that our cleaners and property managers are prepared to work after hours to get a property cleaned and rent ready in the 12 or so hours that we allow between tenants to achieve a zero vacancy (where possible off course).
We are also members of the Housing Industry Association (Australia) (HIA) and have an in house building and supervising license so that we can ensure that all work is done to standards. Our building experience also helps when we conduct routine inspections during the course of the lease.
From General maintenance to complete renovations and garden landscaping
As investors ourselves we have purchased and sold over 40 properties making money through value adding such as subdivisions, complete renovations and developments, we not only have the hands on experience to do this but we also have an in house renovation and maintenance team that can do anything from thorough vacate cleans to complete renovations where required.
We have access to some of the best maintenance people in South Australia. Our team is quick, efficient and on the ball. We can arrange anything from the repair of a leaking tap to the replacement of a roof.
Our property management system is mobile which means that our property managers have access to all client details after hours and can arrange maintenance at any time where emergencies arise.
Please note – we have specific criteria of what is deemed an emergency and most maintenance calls are handled within office hours so that we can keep costs down for you where possible.
Our Investor Community
We have purposely remained a customer-centric boutique agency instead of a large franchise. We know all our landlords personally and are very close to the properties we manage. We like to conduct monthly ALEXA Property and Networking meetings for our landlord clients and general community. We've had thousands of people attend our meetings over the years with great feedback, not only will you be involved in a community of other investors and professionals, but you will also build your investment education over the years as you learn from experts and professionals in the various areas of investing. Our guest speakers include Tax agents, depreciators, financial experts and finance planning, wealth preservation experts, market experts and predictions, property management experts and off course motivational and mindset speakers. Please note that our seminars and network meetings are not intended to off load our sales listings, we don't need to do that as we have precise target marketing for our sales targeted to the correct market – home owners.
Run by Professional Property Investors and Developers
ALEXA Real Estate evolved through a need to service our own large property investment portfolio. We found that there was no other property management agency in South Australia that could maximize investment returns through reducing vacancies so we built our own. In fact even now on property management forums and meetings, we often hear property managers take the "safe route" and begin showing new prospects through a property only when the current tenant has fully vacated. ALEXA's principal, Xenia Ioannou had an investment portfolio of around 10 properties at the time the property management company was built, they were all professionally managed by one of the larger franchise agencies. At that time Xenia was working as a medical research scientist and travelling overseas to scientific conferences often. While on a business trip, one of Xenia's properties became vacant and because the managing agency was unable to get hold of her to get permission to re-lease the property, they left it vacant for 3 months until she returned (Xenia took an extended holiday during that business trip to visit family in Europe). When Xenia returned not only was there an un necessary vacancy in one of her properties but work that needed to be done that was ignored because they did not have "written permission" and an entire bond missing from another one her properties. She soon realized that the managing agency was running on fear of being sued, their policies were to cover themselves legally and not one of them had the leadership to step up, make a decision and be effective and proactive. Xenia decided that she would be the first to become this leader who was willing to push boundaries and do what it takes and she did.
Xenia understands investments and investors and not only can step up and make decisions where needed in the absence of getting hold of landlords, but can also help with adding value through improvements, renovations, subdivisions and developments. Xenia and husband Angelo have done over 40 property transactions to date.
Knowing investments, we can also arrange or refer you to our investment team including tax accountants, quantity surveyors and financers.
There are three types of inspections we do for your property, ingoing inspections (at the beginning of each lease), outgoing inspections (at the end of each lease) and routine inspections (during the lease term).
All inspections are done using a very sophisticated electronic tracking system which can sync back to our office property management system within seconds after the inspection. That means that our office staff receive all pictures, videos and reports on the property and can action any maintenance issues immediately even while the property manager is driving to the next property.
Our inspections are extensive, around 200 to 400 photos are taken for outgoing and ingoing inspections as every detail is investigated. We aim to get a complete snapshot of the property before a tenant moves in and after they move out. We also use videos for some properties and noise recordings were required ie, air conditioner makes too much noise when turned on.
Thirty to fifty photos are what we use for routine inspections and the aim is to ensure that there are no maintenance issues and that the tenant is looking after the property. Please note that where tenants have asked us not to take photos, their privacy is respected. Almost 99.9% of all tenants however allow photos. In the case where tenants do not allow photos, we still photograph any areas that are damaged or require attention and maintenance.
How we can assist you now
We have rented literally hundreds of properties over the years we have been in business. It costs nothing to give us a go, we can photograph your property, write expert copy and list it at no cost to you. We only get paid when we find you a tenant. That means that if the property is untenanted, it is a liability to us as much as it is a cost to you.
We can make you money as soon as we begin managing your property, we've had hundreds of landlords come to us from other agencies where properties were not renting, tenants in arrears, tenants not paying water invoices. We can chase all debts, take necessary legal action, chase up insurance and get your property exactly where it should be to be performing at it's best.
If you are with another agency, it costs nothing to transfer to ALEXA Real Estate as we will pay out any costs associated with the transfer. You do not need to approach your current agent, we will do it for you and serve them the legal notices to end the management agreement. We make it as easy as possible for you.
Contact me now to see how we can truly make a difference to the performance of your investment.
With Over 25 Years of Property Management Experience
What Our Clients Had to Say:
"Your property management services are like watching a game of football, you never notice what the umpires are doing but just know that the entire game is possible only because they are on the ball"
"Valuable time and money have been saved in using a specialist property manager, I would recommend Xenia Ioannou to all investors"
"Good property management is an investment in time and money. I highly recommend Xenia Ioannou as she understands investors and investment properties. A great, dynamic and motivated individual to have on your team. All of my investment properties have been managed and sold by Alexa as they get results"
"I am very happy with Xenia's Work ethics and her professionalism. She is understanding and above all honest about her business. She explains everything in a language you can understand, one thing that really stands out is that she is very switched on, punctual and always keeps you informed at all times.
My wife and I are very happy with her work and would highly recommend her to anyone who is looking for a Property Management Specialists.
I am not just saying good things about her, to understand what I am talking about, you have got to meet her and experience the pleasure of meeting this highly motivated and caring professional."
Nina and Leon Petrov
"Xenia has been the only property manager I have trusted with my client's properties, she is consistently on the ball and knows exactly what is going on, how to achieve the best rent and how to get tenants in quickly. So far she has achieved zero vacancies with all of the properties she is managing, has had to deal with some very tough situations and always manages to problem solve like it's a breeze. I have and would recommend her to anyone."
Karen Davis – Rams home loans
"Xenia has managed Colorado Property Holdings' portfolio of residential and commercial properties since 2010. Although there have been many changes in tenancy legislation and codes over time, Xenia is always on top of things and acts promptly to protect our interests at all times. We have every confidence in her professional judgement and rely on her to take appropriate action without referring back. We believe that Xenia and her team provide the most complete property management service available."
John Hodges, Director, Colorado Property Holdings Pty Ltd
"Having managed a large rent roll myself when it came to my property, I set very high standards in what I expected from my property manager and Xenia has far exceeded them. She is efficient, a problem solver, an excellent communicator, is experienced in handling challenging situations and has a calm professional manner that makes her a pleasure to deal with. She also has the rare talent of being able to perform administrative tasks competently as well as being able to engage with both landlords and tenants, so each feels that the outcome is fair and importantly compliant with legislation. Xenia is not afraid to tackle the difficult scenarios that occur in property management and I have absolute faith in her ability to represent my best interests at all times. Her knowledge about wealth creation has made me confident that she understands the bigger picture when it comes to growing my property investments and the value I receive from Alexa Rentals is far more than just 'property management'.
I have no hesitation in recommending Xenia as a property manager."
Kerrie Akkermans - www.akkermansconsulting.com.au
"Alexa Real Estate has managed my property since 2013 , and as I now live interstate having a reliable property manager is vital to me.
I have always been informed on everything in a timely manner, and any issues that have arisen were resolved quickly and with minimal disruption for my tenants or myself.
Xenia has always ensured that vacancies are minimised and that my property is presented in the best possible way in between tenants.
Thanks to the outstanding and diligent service I receive from Xenia and her team at Alexa, my property has always been a great income earner and has always been kept in a great condition.
For anyone who is looking for a fantastic, reliable property manager, I highly recommend the services of Xenia and her team at Alexa."
"ALEXA Real Estate is passionate about looking after their clients rental needs. Xenia and her team provide extremely efficient service, answering all of my questions and providing the best rental advice and guidance. Moreover, my property was rented within the first week it became vacant and at above current rental valuation due to the team at ALEXA Real Estate negotiating with the tenant. All rent for the term of the lease was paid up front. Honestly I could not have expected a better outcome. ALEXA Real Estate is my choice of real estate agent as they are experienced professionals who provide the best outcome for their clients."
From Our Property Management Newsletter
How to Maximise the Potential of Your Investment Property
Here are 5 ways to maximise your rental income that I've learned over the years from managing hundreds of properties through our property management department:
- Keep Your Property Updated
Tenants will pay a premium for properties that feel fresh and clean. You do not need to have the latest modern appliances nor do you need to do a complete renovation. Consider painting, replacing worn out or stained carpets and replacing blinds and curtains. These are cosmetic changes that can really lift the property, increase competition amongst tenants and achieve a higher rent.
- Long term leases
Six month leases can be beneficial in some circumstances but where appropriate go for a 12 month lease. This will ensure a longer commitment from tenants and uninterrupted cash flow.
- Minimal or ZERO vacancies
The best time to show prospective tenants through a rental property is when other tenants are still paying the rent. If your current tenants are not renewing their fixed term lease they need to give you 28 days notice or 21 days notice for a periodic lease agreement. A great property manager will use this time to advertise the property for rent, show prospective tenants through the property and, where appropriate, carefully coordinate the move in date of one tenant with the move out date of the existing tenant so that there are zero or close to zero vacancies.
- Consider Pets
With 56% of Australians having pets and 25% considering getting one in the future, that's a huge market of potential tenants to tap into. If your property is pet friendly you have the potential to achieve premium rent and lower vacancies as pet owners are willing to pay premium rent to keep their furry family members with them. Please ensure that your property manager has a pet clause in the lease to protect your interest. My experience is that responsible people remain responsible even if they have a pet and irresponsible people will continue to be irresponsible whether they have pets or not. With so many pet owners applying for properties, sometimes not allowing pets can be a very costly and risky opinion to have as it really reduces your market.
- Proactive Property Management
A proactive manager notices a water leak in the bathroom vanity and gets it fixed. Tenants report that the front lock no longer works and she will have someone there to rectify the problem immediately minimising your risk of security breach with the tenants. A proactive property manager will notice that a vacate clean is required and get it done, even after hours to ensure that the property is ready for the next tenant.
A reactive property manager will email you a list of problems and ask you what you want to do, he will not have quotes or solutions at hand. He will stall and procrastinate on new tenants if the property is not rent ready, he will not work after hours to get things done.
The difference is huge, one will minimise your exposure to risk and tenant compensation for maintenance not being done and the other one will increase it. A proactive property manager will minimise vacancies in the property and a reactive property manager will increase them. It makes a huge difference to your bottom line.
Things to Remember
- Keep properties unfurnished – Furnished properties are very niche, very transient, there are more vacancies and more maintenance. Unless it's a $1200 per week executive residence with exquisite Italian decor and in a prestige suburb, keep it unfurnished. Furnishing the wrong property will deter tenants from applying as, apart from a specific niche market, most tenants want to use their own furniture.
- Long term leases only – short term leases create more vacancies, more costs and more letting fees if you are using an agent.
- Keep away from Rental guarantees – the cost is priced in and you pay for it.
- Never Get involved – keep at arm's length – use a professional property manager and let them do their job.
- Don't Self-manage- it's harder than you think! Good Property managers make you money
- Don't let your leases expire at quiet times of the year like around Christmas time, when signing leases in December consider a 13 or 14 month lease so they expire in January or February.
- Remember you don't know everything – take feedback and advice from your trusted team of advisers, if you are the smartest person on your team then you are running an adult day care.
Tenant Retention Strategies for Property Management
In today's day and age renting is more of a lifestyle choice rather than just a need. Many tenants rent out of choice and not because they cannot afford to purchase their own home. Indeed many are also property investors (landlords of other properties) that have decided to rent for tax purposes.
As more and more investment properties enter the rental market and with so many people making the choice to rent; keeping great tenants and avoiding long vacancy periods will continue to be a challenge in property management. The good news is that retaining tenants is simple and falls under the category of great customer service. Your tenants are your clients and they are more likely to remain with you if you provide them with great service.
By far one of the biggest issues in tenant service and the biggest reason why tenants leave is MAINTENANCE. Responding promptly to maintenance issues – within 48 hours – and showing courtesy and care goes a long way in tenant retention. Having a team of reliable trades people that know your property and can act fast is better customer service than leaving a tenant without hot water for weeks while you are getting 3 quotes to try and save $50.
The lease renewal process is another area where you can provide a great service to your clients. The more streamlined and easy it is for them to renew their lease the less likely they will be to move onto the next property.
Adelaide still has a strong tenant market and vacancies are naturally low. However implementing these strategies now will put you way ahead should the market turn in future. In the interim it also helps to attract the most sought after tenants to your properties and ones that always pay the rent on time and look after the property as if it were their own.