Property management is now a specialized area of the Real Estate Industry with a focus on well-trained and qualified employees.
The Residential Tenancies Act has complex rules and regulations relating to property management.
It places immense responsibility on whoever manages the rental property to comply with these guidelines.
Failure to do so can attract harsh penalties to either the owner (you) or the owner’s nominated managing agent (us).
Agents involved in property management (and owners who manage their own properties) must possess a thorough working knowledge and understanding of this Act, as well as other Acts of Parliament.
With the ongoing changes in legislation,it is more important than ever tohave your property managed by a fully qualified professional Property Manager. The Residential Tenancies Act has complex rules and regulations relating to property management.
Our Property Management department is informed and fully trained in all aspects of the relevant legislation to provide peace of mind to you, the investor.
Additional ongoing training ensures that the Property Manager is up to date with ever changing legislation and Fair Trading procedures should they need to attend the tribunal on your behalf. Having a Senior Property Manager that is accredited further ensures that we will be acting in your best interests –legally, ethically and financially, at all times.
PROMOTING YOUR PROPERTY
A prospective landlord and/or tenant anywhere in the world can push a button and view your property.
At One Agency The Forest, we believe that it is vital for your property to be submitted to all avenues of effective advertising.
The internet has proven to be the best form of promotion. It has far reaching capabilities with tenants all over Australia (and even the world) being able to access your property on line.
Clearly the role of the internet has changed the way we market real estate.
Due to its immediacy, a newspaper advert can be cold news in 24 hours – our days on market for leasing are continuing to come down due to the internet’s swiftness. As soon as the management authority is received, we upload your property on the
Our own website, which shows all of our current listings. It is receiving thousands of hits per month – a user friendly web site.
The most well-recognised real estate site in Australia and is aligned with ninemsn.com.au.
The real estate site for the Fairfax Corporation and is associated with Sydney Morning Herald newspaper.
The only website that is marketed solely Australia’s renters
We have a rental list available in the office, online and also via fax& PDF email to all prospective tenants, which is update as required almost daily.
Prospective Tenant Register
We maintain a prospective tenant database which is accessed as soon as your property is listed with One Agency. An email or telephone call is made to any prospective tenant whom we believe may be suited to the property.
A Property Manager is available for Saturday inspections by advertised times or by appointment during the week. Appointments need to be made with 24 hours notice, if possible.
For Lease Boards
We also display prominent FOR LEASE boards in front of your property, with your authorization.
Word By Mouth / Reputation
Furthermore, as our Property Manager, Skye Ainsley, is so well respected and known in town for her client service – clients from here to Newcastle tend to seek out her services & advise.
SELECTING THE RIGHT TENANT
We are particularly discerning when it comes to maintaining the quality of tenants for our managed properties.
We will not compromise our reputation of providing our clients with unsuitable tenants to lease their properties. Our philosophy is to always be critically selective with tenants because our aim is for you to have a worry free tenancy.
Our detailed screening process aims to establish that tenants can meet the responsibilities of the tenancy agreement. A mathematical formula is used in conjunction with reference checks. Tenant selection is in accordance with laws covering discrimination, residential tenancies and privacy.
We ensure that all references are checked and a comprehensive selection of information is provided to confirm applicants’ identities.
We inform you of applications and the final decision as to whom your property is leased to is made BY YOU.
Tenant Reference Checks – A MUST!
As members of The Tenancy Information Centre of Australia (a database of tenants
who have defaulted on previous tenancies throughout Australia), we source up-to-date prospective tenant’s previous rental records using their website – www.tica.com.au
This is just another service we provide to protect your property and give you a worry free tenancy.
LANDLORD PROTECTION POLICY
Whilst we make every effort to ensure the tenant you have selected is going to be the right tenant, unforeseen circumstances can change the ability of a person to pay rent or cause them to act in a way that is totally out of character.
As Real Estate Agents, we would strongly recommend you consider taking out a Landlord Protection Insurance Policy.
This type of insurance policy is especially designed to alleviate any concerns you may have regarding financial loss as a result of tenant’s actions.
This policy will cover you for things such as a tenant defaulting on their rental payments,malicious damage, accidental damage and public liability.
The Landlord Protection Policy offers a range of benefits and features in addition to those found on standard policies, all at a competitive price. The question is, can you afford not to have it? You can also combine your landlord insurance policy with your building policy for a more competitive rate.
There are different policies offered by several difference companies in the market place. We can refer you to these companies to enable you to discuss the policy that best suits your needs or you may wish to make your own enquiries via the internet.
OUR SERVICE TO YOU
Regular inspections are a major part of how we care for your investment property, ensuring that you achieve continual occupancy and maximum return.
When we list your property for lease, we will provide you with a checklist which outlines your requirements and also our expectations in terms of the way the property is presented for lease.
Your need and our desire is to lease your property in a timely manner.To help achieve this, the property must be presented and maintained in the best possible manner.
Prior to the commencement of each new tenancy, a condition report is prepared.This thoroughly details all aspects of the property, including an inventory if applicable.
Digital photos are also taken and kept on file. The role of imaging within smartphones and tablets has enabled us to take as many digital photos as required for condition reports.
Routine inspections of your property are made regularly depending on your needs
and legislative requirements.
As mentioned above, the role of imaging within smartphonesand tablets has enabled us to take as many digital photos as required for routineinspection reports.
Following each routine inspection, you will receive a comprehensive report on the
overall condition of the property. This report may be received by post or via email.
The purpose of the inspections is three-fold:
Firstly to bring to your attention to any immediate maintenance needs and Secondly,to inform you of any preventative maintenance or refurbishment that may be beneficial.
Thirdly, we can gain an accurate assessment of how the property is being maintained by the tenant and also what their future intentions are regarding renewal of their lease.
It also provides us with an opportunity to consider a rent increase if required. Please note that we are not building inspectors but have a keen eye. Owners can then forecast and budget accordingly, for any upgrading work suggested in the report.
LANDLORDS BE AWARE!
Neglect of minor repairs can often lead to major expenditure and the loss of a good tenant. Our attention to maintenance will ensure that problems are resolved quickly, by qualified tradespeople and at a reasonable price with a limit determined by you.
FINAL INSPECTION GUIDE
When tenants vacate the property, we carry out a final inspection ensuring that they leave it in an acceptable condition and in accordance with the ingoing condition report.
This report, together with the original digital photos are used as a guide to complete the final inspection. Bond monies are not released until all parties are satisfied
WHAT WE WILL DO FOR YOU
- Ensure the property is maintained in its original condition allowing for fair wear and tear in accordance with the Residential Tenancies Act.
- Advertise the availability of the property for rental.
- Personal inspections with prospective tenants and/or landlords 6 days a week including outside business hours.
- Process application forms thoroughly within 48 hours, including TICA checks and additional background checks and 100 point ID checks.
- Comprehensive Property Condition Report completed at the beginning of each tenancy.
- Digital photographs of the property at the beginning of each tenancy (kept on file).
- Photocopy of all keys given to tenants (kept on file).
- The signing of Leases/Tenancy Agreements in accordance with the Residential Tenancies Act.
- Collection of bond monies in accordance with the Residential Tenancies Act.
- Collection of rent money and issuing of receipts in accordance with the Residential Tenancy Act.
- Constant communication with tenants to follow up any late payment of rent –letters, emails, sms.
- Zero tolerance of rent arrears – notice to vacate issued when a tenant is 14 days in arrears.
- Issue and serve all relevant notices on your behalf in accordance with the Residential Tenancies Act.
- To attend any Tribunal hearings and to act in accordance with the determination of the Tribunal.
- Conduct routine inspections of the property – initially three months, then every six months thereafter.
- Provide comprehensive typed routine inspection reports.
- Undertake regular rent increase reviews.
- Renegotiate new lease when current lease expires
- Conduct thorough bond inspections ensuring the property is reinstated to its original condition allowing for fair wear and tear.
- Relet your property at the end of each tenancy.
- All general maintenance and repairs organized in a timely manner at competitive rates.
- Forward monthly rental statements
- End of financial year reporting
- Provide a free, no obligation Sales Market Value of your property at your request
- Find the most suitable tenant for your property, respecting your wishes with regards to all stipulations, including permission (or not) of pets.
- Use our database, website and network of contacts to find a tenant for you when your property is vacant in the shortest possible time.
- Provide weekly reports informing you of the enquiry level and activity on your property we are pursuing to tenant (when vacant).
- Conduct Open For Inspections on your property to increase exposure to prospective tenants.
- Service all tenant and prospective tenant enquiries.
- Return all phone calls, emails and other written correspondence with 24 hours.
- Place a highly visible ‘For Rent’ board outside your property when vacant (with your permission and body corporate approval).
- All lease paperwork, sending you a copy.
- We manage the ingoing and outgoing tenancy.
- Pay your council rates, water rates, insurances and strata levels on your behalf.
- Experienced mediation and negotiation between landlords and tenants
- Provide honest and open communication at all times. We provide market specific rent appraisals (i.e. we give truthful indications of experienced rent, rather than inflate a figure that leads later to dissatisfaction). Rental prices work on supply and demand triggers and when there is an oversupply, the prices achieved are not as high as when there is a shortage. Many external factors influence this, and we are constantly monitoring the general health of the wider rental market in our region to assist us to issue informed and educated advice.
RENT REVIEWS AND LEASE RENEWALS
We want your investment working for you. That’s why your tenancy agreement is closely monitored to ensure you gain full advantage of current rental market trends.
It is most important for us to constantly monitor the rental pricing market and review the rental prior to the expiration or renewal of each tenancy agreement. Why? Because we must help you maximise your investment return.
We want to ensure that you achieve the highest return possible on your property investment.
We will contact you on these occasions to present the options available and make are commendation that is best for you and your property.
We will then seek to confirm your instructions on paper as all landlord instructions must be in writing.
For those leases that are periodic, that is on a month to month basis, we will contact you via mail every six months advising you if a rent increase is applicable. For periodic leases,rent increases can be applied every 6 months
PAYMENTS AND STATEMENTS
To help maximise your rental return, we ensure payments are forwarded to you promptly each month.
Each month, we forward to you an itemized statement showing all rental income and payments made on your behalf. For owners with multiple properties, these can be separated on individual statements or combined on one statement.
There are 2 payment runs available depending on the frequency the tenant pays rent. We will place you on the most suitable payment run to get rental funds to you as quickly as possible. Statements can be emailed or posted (with copies of invoices attached).
Council rates, water rates, body corporate fees and insurance premiums are just some of the accounts that can be paid on your behalf from received rental monies.
We encourage and educate tenants to pay the full rental amount when due, to ensure that your investment is working for you. This is somewhat alleviated by the fact that the majority of our tenants pay their rent by direct deposit into our bank account.
However, should tenants fall into arrears, we are aware of it immediately, because of our‘zero tolerance’ policy and our daily arrears management process. Prompt action follows in accordance with the Residential Tenancies Act and your instructions.
DID YOU KNOW?
- In times when the market is high, we are very conscious of rental price increases and property improvements where value for money is achievable. When the market is slower,we need to be more sure of the security of tenancies, not just financial gain.
- The old days of tenants coming to the office to pay rent are long gone and the only real time we see them at our office is to sign leases at the commencement of their rental.80% of tenants pay rent via direct debit or internet transfers direct into the Agency Trust account.
- Landlords who use the services of a Property Manager are 15% more likely to earn positive rental returns compared to those who try to self-manage.
Why? Because a Property Manager offers a Landlord services that are of a much higher standard than they could possibly provide themselves and so they will achieve a much higher return.
- 90% of our enquiries come from the internet. It is important for a home to be presented to a high standard and be excellent condition at time of photos and tenancy inspections.
- One Agency The Forest have a Register of Potential Tenants and this database is updated frequently. All new listings are emailed to suitable tenants on the database.
- Our Property Managers have extensive formal qualifications and many years of experience. It is no wonder why they are trusted to manage portfolios worth millions.
- Some private Landlords misappropriate tenancy bonds because they deposit these bonds in their personal accounts and do not lodge the bonds with the Residential Tenancies Bond Authority. This is a breach of legislations and restitution follows.
- A good Property Manager focuses on the needs of their landlord, but giving tenants some extra attention forms a strong relationship between Tenants and Property Managers & investors.
- Renters quite often become Owners and Investors
Your financial well-being is our highest priority.
This information booklet is not intended to be exhaustive with regard to all of the property management services offered by One Agency The Forest.
However, it is intended to give you sufficient information to emphasise the importance of having your property comprehensively managed on a full-time basis by the most qualified property manager based in your region.
Our Policies and Procedures are constantly updated and our agency is well equipped with the latest technology. We strive for a harmonious relationship between our agency – landlord – tenant, to ensure your property is managed with Professionalism, Excellency and Experience. We consistently undertake courses to improve our Professional Development and keep up with the constant changes in Legislation.A specialised field requires a specialised professional.
A team focussed totally on ensuring that your investment is working for you. Experience the difference by coming on-board.