Decoding the what, why and how
...of Property Management
Is there any advertising costs associated leasing my property?
Yes we subscribe to the premium packages for the most prominent internet portals being, realestate.com.au and domain.com.au, thereby giving our properties priority listing which results in maximum exposure and leasing of your property 90 times faster.
Where do you advertise?
We advertise on all major internet portals including our own and via all of our social media channels
What is your management fees?
Property management fees are generally charged as a percentage of the weekly rental income.
We keep our fees within the market scale, with variations within this range being attributed to location of the property, the rent that is being achieved and how many properties you place with us.
We pride ourselves on being competitive with our fees, but we're also not afraid to say that we are not necessarily the cheapest out there. We strive to set the benchmark for communication, professionalism and providing all of our investors with a stress free experience. We are highly qualified and have extensive experience in the industry, thus we do not provide a cheap, inferior service. We are here to look after your greatest asset and we do so with pride.
What does the management fees cover?
As our company specialises solely in property management, our services offer way beyond the level that other property management companies. Apart from the regular day to day communication and tasks associated with managing a general tenancy, we offer extras such as yearly appraisals, proactive maintenance programs in order to prevent any emergencies resulting in substantial out of pocket expenses, rental reviews conducted bi-annually, comprehensive monthly information delivered to your inbox and more.
OPEN HOUSE INSPECTION
Will you be present to show prospective tenants through the property?
Most definitely. Open homes are scheduled at least twice weekly (once during the week and Saturday). Private inspections will be scheduled should anyone wishes to view the property outside the scheduled times.
What is your process for screening tenants?
Screening begins from the moment the prospective tenant makes an enquiry. Feedback and background information will be gathered through meeting with them in person, routine checks including rental history and previous database checks etc. Should there be a bad instinct about the prospective tenant, we will not be proceeding with their application. This is the most crucial part of any screening. Our main objective is to match the tenant not only to the property, but also to the Owner. This proves for a seem less tenancy and sees us maintaining our Zero Arrears and Zero vacancy factor.
How many inspections do you perform in a year and do I get a report?
Here in Victoria, we are only allowed to perform routine inspections bi-annually. The first routine inspection is usually performed three months after the tenant has taken up occupancy. This gives us a good idea on how the tenancy is going. For example, if the property is presented immaculately and the tenant has never missed a beat with their rental payments, we will then make our recommendations to schedule the next one for between 6 and 8 months’ time.
Should however, the property does not present well at all, a follow up inspection will be scheduled in a fortnight’s time. Our residents usually take pride in their place of residence and we have outstanding routine.
We have a fully itemised routine report along with colour photos that we send out to you after each inspection. Not only do we oversee to any damage or maintenance that may require to be undertaken at the property, at the same time we are also extremely mindful about how to maximise your rental return. Suggestions and feedback on how to make this happen will be outlined in the report too.
How long does it take to lease out my property?
The time it takes to rent your home depends on market conditions. However, in recent years it has averaged between a few days and 21 days. Keep in mind, that the overriding factor in renting, is to not only find tenants, but to find the right tenant. This may not be the first one who applies for the property.
To make the time as short as possible, we put your rental home into our system as soon as it is "rent ready and loaded up in the various internet portals complete with full colour professional photos.
We understand how important the time factor is, especially when there are mortgages to pay, so we also conduct viewings of your property after hours and at times to suit tenants. We make sure no one is missed!
How do you manage tenant's arrears?
Once again, this comes down to having selected the suitable tenant, who can both afford the rent and is a rightful candidate. Tenant education is also a high priority for our team and we encourage open communication channels with all of our residents. This results in our constant 100% zero rental arrears over the first 5 days.
How do we receive our rent monies?
Disbursement are performed twice weekly into your bank account.
Are there any termination fees after the contract period?
No, not at all.
What are the most common maintenance issues?
One of the key ingredients of a smoothly run investment property is having great tradespeople at your disposal. Having maintenance attended to quickly will stop small problems turning into costly issues and will also keep your tenants happy. If you own an investment property, it’s important that you’re ready to deal with any problems that you could be faced with.
Here’s a list of the 20 most common maintenance issues you’re likely to face as a property investor:
Faulty door locks
Dripping taps or those that won’t turn off
Leaking laundry and kitchen sinks
Doors that don’t align in place as they tend to move
Loose or broken door handles
A leaking hot water service
There’s no hot water
A blocked drain, blocked shower or blocked toilet
Leaking shower roses or taps
Power points and lights that are not working
Ducted heating that only blows out cold air
Broken down kitchen appliances
Air conditioning that doesn’t work
Curtains or blinds that are operating the way they are supposed to
Carpets that are lifting and the joins or wearing in high traffic areas of the property
Movement cracks in the ceiling or cornices
A damaged letter box
A remote control for the garage door that doesn’t work
Overgrown shrubs, bushes and trees that need tending to.
Make sure you get the right tradespeople for the job and sit back and enjoy your investment as it continues to yield favourable returns.