Managing Your Property WITH HARCOURTS

Transcription

1 Managing Your Property WITH HARCOURTS

2 Thank you for choosing Harcourts Victoria Park Setting Expectations We believe that familiarizing you with how we manage your property will form the foundation of a strong working relationship. Equally important, is what we consider are the responsibilities of our owners and tenants to ensure a mutually beneficial outcome for all parties. The following pages outline some of our benefits & services we promise, along with some valuable information on what you can do to attract and retain great tenants. Harcourts is committed to providing a Property Management experience which exceeds your expectations. W e welcome your feedback & comments throughout the process. Communication We will effectively communicate with you. We sometimes spend a large amount of time away from the office appraising, inspecting & managing property, however, be assured we will respond. Our policy is to respond to any queries within 48 business hours or less.

3 Our Team Tracey Wilson - Licensee & Full Time Supervisor Few Principals are full time Property Managers. This is your peace of mind that should your property manager be out of the office, on leave or even move on from the group, you always have someone you can talk to who knows you & your property. With over 30 years experience your property is in good hands. Along with administrative support, we manage a little over 200 properties; therefore our human resources are more than adequate to deliver on our Blue Ribbon Service commitments to your Property, your Tenant and most importantly, You. Natalie Gage - Property Manager Natalie Gage brings enthusiasm and energy to the team at Harcourts Victoria Park, fully embracing the Harcourts philosophy, principals, the power of effective systems and procedures. Natalie entered the challenging, yet fulfilling world of Property Management in 2004 and values integrity, professionalism and is committed to providing outstanding service. Her efficiency, positive approach & helpful nature make Natalie a great member of our close knit team. Lisa Patton - Property Manager Having graduated with a degree in Property Studies and worked in Property Management in Ireland, Lisa arrived in Perth and joined our team in January With a passion for property, Lisa prides herself of maintaining a good relationship between Owners & Tenants. Lisa s friendly approachable manner, combined with her long held love for real estate and her desire to work with people exemplify her commitment to providing unsurpassed levels of service.

4 Why Choose: Harcourts Victoria Park Because all our clients receive Blue Ribbon Service. The following services are included in our simple fee structure for no extra cost. Conditions apply. Virtual Tour / Quality Photography (Value starting at $154) For Rent Signs (Value $77) Annual Financial Summaries (Value $55) Tenancy Database Searches (Value $5 each) Saturday Open for Inspections on Vacant Property Weekly e Marketing Report Maintenance Orders ed to Owners at Point of Issue Annual Maintenance Programs (Air Cond Servicing, Pest Control, Gutter Cleaning) Tenant Welcome Pack & Sign up Ceremony explaining their obligations Property Management - Better in Blue

5 Office Philosophy Professional Property Management is maximizing your return utilizing a thorough marketing strategy, minimizing vacancy in between tenants, achieving the highest rent whilst security the best quality tenant possible in the market place. Our results are recognized with awards based on low vacancy & low arrears. Previous highlights were; 1 st Place State Awards Property Management Excellence st Place State Awards Property Management Excellence rd Place National Awards Property Management Excellence 2011 The following KPI s are monitored weekly/monthly. W e can produce up to the month figures for you at the push of a button, so please feel free to ask. Vacant Properties at the end of month over the last quarter averaged 0.33 Tenants in Arrears at the end of month over the last quarter averaged 0.33 Our no-tolerance rent arrears procedures are that good, we could almost guarantee you won't find an agent with a better arrears statistic. Our Service Guarantee We will at all times act in the best interests of our landlords. Should we fail to fulfil any service promised, we invite you to advise us in writing. Should we not rectify the matter in 7 days of receipt of your advice, you will receive your next 3 months free of management fees.

6 Our commitment to you. Letting You can expect: W e will undertake comprehensive listing notes about your property & its best features. W e will have the property photographed and a virtual tour taken. We will have the property listed on all the real estate web sites that we subscribe to within 48 hours of these photographs / virtual tour being taken. W e will place your property in the newspapers in consultation with you. We will schedule viewings of your property as required to all prospective tenants until your home is rented. ( Subject to access provided to us by any current occupant ) W e will erect a For Rent sign on your property within 48 hours of photography. ( If signs permitted ) W e will subject all applications to: - Check on the appropriate tenancy databases. - Verification of applicant s former renting references. - Verification of the applicant s employment and income. W e will ( unless instructed otherwise ) refer all potentially suitable applications to you for approval. W e will complete and execute the tenancy agreement & conduct a sign up ceremony, detailing their obligations. We will let your property for the asking amount of rent, (as outlined in your management agreement with us) or higher. We will not let your property at a lower amount, without first obtaining your permission. W e will complete and execute the tenancy agreement and explain in detail their responsibilities and obligations. W e will secure all appropriate ingoing costs from the tenant. W e will lodge the bond in accordance with the legislation. W e will forward a copy of the tenancy agreement to you. W e will have regular contact with you and feedback for you throughout the process.

7 Rent Collection You can expect: W e have a zero tolerance rent arrears policy which we outline clearly to all tenants when they are signing their lease. W e will process rent payments daily. W e will follow up all late payments in accordance with our management agreement and the relevant State Residential Tenancy Act. We will contact you to make recommendation and seek your instructions, should termination of the tenancy be an option. W e will keep you informed throughout the legal process, should termination be necessary. W e will provide you with an annual financial summary ( if requested ). Property Inspections You can expect: W e undertake a comprehensive Property Condition Report and will possibly photograph prior to the property being occupied. W e will conduct routine inspections regularly and provide you with a written report & photos. At there routine inspections we will report to you any repairs or preventative maintenance that may be necessary. W e will conduct a comprehensive property inspection when the tenants vacate ensuring it matches with the original Property Condition Report (except fair wear and tear). Accounting You can expect: W e will deposit the nett proceeds of your rental income into your nominated bank account as per your management agreement. W e will provide you with all copies of invoices for any repairs required at your property if requested. W e will pay all property outgoings as agreed on your behalf prior to the due date (subject to the availability of funds). Maintenance and Repairs We expect that property owners will undertake recommended repairs to their rental property in order to preserve the value of the property, meet legislative obligations and maintain a positive relationship with the tenants. At Harcourts, we require your tenants to submit all maintenance requests in writing. You can expect: W e will not undertake repairs to your property in excess of your nominated amount, without first obtaining your approval. NOTE: This excludes emergencies and repairs that are required to be rectified by law. W e will contract a tradesperson within a timely manner for non urgent repair requests. W e will attend to any urgent repair requests immediately. We will only use trades people who are licensed and insured to handle the type of work being performed on your property. W e will you a copy of all work orders issued. Tenancy Renewals / Rent Review You can expect: W e will review the tenancy agreement for your property in advance of it s expiry, advising of current rental market conditions. W e will not renew a lease without your express written permission (unless stated in the management agreement ). W e will advise you of any advice by the tenants that they are not renewing their lease. W e will minimize vacancies by promptly acting on vacate advice. W e will proactively manage the tenancy agreement renewal process to ensure consistent income. W e will regularly review in accordance with the current legislation to ensure you receive the highest rent possible.

8 What to expect: When you meet with your Harcourts Property Manager With your permission, when we meet, we would like to: Tour your property to enable us to take detailed notes and make a competent rental assessment. Discuss your needs and expectations and determine how we can help. Answer questions you may have about Harcourts, the service we will provide and any other real estate matters. Provide you with accurate market research and discuss a suitable marketing programme to attract and secure the most suitable tenant. Enquire about recent maintenance of the property, any current warrantees which may apply and your current insurance cover. Walk you through our Management Agreement and discuss our working partnership. It is important that all decision-makers are available when we meet

9 Why us: Consider this. We are specialists in Property Management, our people are dedicated professionals. Our business philosophy is based on creating success and four specific values that are communicated throughout the organization; People First Doing the Right Thing Being Courageous Fun & Laughter Our local knowledge is backed by our global strength. We promote a company wide focus on the delivery of exceptional customer service. Our Harcourts Academy researches and provides expert training and coaching for our Property Managers who continue to remain at the forefront of Property Management legislative changes. We are at the forefront of Property Management technology. Our Property Managers enjoy a mix of mobile and web based products for seamless management of the many administrative processes required. We accelerate the renting of your property to the right tenant through our focused marketing and tenant screening procedures. W e maximize your investment by optimizing your return. We guarantee that we will proactively communicate with you on all matters relating to your property. We offer a wide range of value added services to further enhance your investment. Industry leading systems and procedures and our philosophy of continuing innovation ensures you and your property are in the best hands. Our offices are supported by a team of Property Management Operations Managers who are experts in their field and whose sole role is to support, train, problem solve and keep up to date with the latest innovations in the world of Property Management.

10 Why should I appoint a Property Manager? This is what you need to know... It s important to ask yourself Do I have a thorough understanding of the RESIDENTIAL TENANCIES ACT and other associated statutes? This is a highly specialized area of Real Estate and it is fraught with the danger of litigation in almost every task you undertake. A competent Property Manager not only possesses a strong understanding of their role, they continually increase their knowledge of insurance requirements, changes to legislation and industry and market trends to ensure all clients achieve the highest level of service at all times. Agents are often engaged to pick up the pieces of poorly self managed properties after it has cost the owner countless hours in trying to resolve conflicts with their tenant, not to mention the monetary cost.

11 If you are at all considering managing your own investment property then it s wise to consider the following points: Do you possess a thorough understanding and knowledge of The Residential Tenancies Act in order to maintain a fair and professional relationship with your tenant? The tenant maysue you if you do not adhere strictlyto the Residential Tenancies Act! Do you understand a Landlords obligation under other Federal and State acts affecting a tenancy? Discrimination, consumer protection, building and other statutes all impact a tenancy. How much do you know about the tenant selection process? Asking the right questions and getting the right answers before you place a tenant in a property can save untold heartache and frustration and mayprevent potential financial burden. Do you realise as a private lessor you do not have access to tenancy default databases? Therefore, tenants listed on these databases are forced to rent privately? Do you know how to lodge your tenants Bond money in accordance with the Residential Tenancies Act requirements and within the required time frame? If not you maybe liable for a heavy penalty. Do you know the right procedure when dealing with rental payment arrears? Have the correct notices been issued with the required excess days in the calculation of notice period? If not, your advices may be totallyinvalid and you will have to start the procedure all over. Do you have a concise knowledge of The Residential Tenancies Act to effectively represent in Court? The procedure must be precise. If you are ill prepared with non compliant documentation, invalid notice periods or lack of evidence, justice may not fall on your side. Minor mistakes maycost you dearl y! Could you successfully terminate your tenancy and recover possession of your property without the need to go to Court? Do you know the correct procedure, the right notices to issue and the correct time frames? Is your negotiation skill and knowledge of the Act sufficient to mediate a successful resolution and outcome? Could you complete a valid Property Condition Report with enough detail to stand up in Court if necessary? If it is not a precise record then it may have little or no value if needed for evidence. Do you know the correct procedure when the tenant has absconded and abandoned goods remain at the property? The Residential Tenancies Act has a range of procedures that must be followed when goods are left at the property. Additionally, if you enter the propertywhen possession has not been handed back you risk any compensation you may have been entitled to; not to mention anypenalties that may be imposed due to the breach of the Residential Tenancies Act. Would you be able to recover any outstanding debts? At what point do you go to court, how do you get the Bailiff involved, do you have Landlords Special Risk Insurance, who will assist in your debt recovery? At Harcourts Property Management we are serious about our commitment to provide the best property management service. Your specific goals and objectives are our primaryconsideration in the management of your property. Our Property Managers understand how the market impacts on your investment and will work with you to improve the yield from your property. We relieve anypotential stress from owning investment property, we remain current with legislation and market drivers that effect your real estate investment.

12 Checklist To ensure the safety of your tenants. Are smoke detectors fitted and in working order? Does all glass, including shower screens comply with the current legislation? Do the balcony railings & stair railings comply with current legislation? Do you have a Safety Switch (RCD) installed? Is the safety switch in good working order? Have you checked all your electrical appliances are in safe working condition? Are all power sockets and light switches in safe working condition? Are all lights working and damaged light globes replaced? Is the property secure with all locks in working condition Will your home pass the insurance test? Is the pest control and Termite Inspection up-to-date and scheduled for annual pest control? Do you have adequate Building and Public Liability Insurance? Do you have landlord special risk insurance? Do you have security and is it in working condition? Have you ensured all garden paths and driveway are evenly laid with no pavers or cracked concrete causing possible danger to occupants and guests on the property? Is all the plumbing in working condition? Small leaks can cause big problems and large water accounts. Are the gutters clear of leaf and debris? Are there any tree roots that can cause damage to the property or a tripping hazard? Have you organized a gardener and given instructions on how the garden should be maintained? Are the pool chemical levels correct and all equipment in working order? Have you organized a pool compliance audit with regular and ongoing checks scheduled? Does the safety fence around the swimming pool comply and is there a self closing gate installed and in working order? Have you ensured there are keys plus copies to all windows and doors? Are all remotes in good working order with new batteries installed? If you have any questions with regard to any of these items or need assistance with anything please do not hesitate to contact your Harcourts Property Manager.

13 Testimonials: What others say I purchased our investment property in Balmoral St, East Victoria Park through Harcourts Victoria Park. They managed the property for 4 years prior to selling it for us. Paul, Tracey & their staff were always a pleasure to deal with. They set very high standards of customer service & professionalism and always returned a greater value to me than the cost of the service. Daniel Medd, Principal Geologist Woodside Energy Ltd I recall being fed up with the service I was receiving form other agents in Victoria Park. All that stopped when I signed the paper with Harcourts Victoria Park. In 3 years my properties have had no loss of rent through changing tenants, maintenance has been regular and of a high standard, communication 1st c la ss. Thank you for your excellent service & I look forward to many more years of a successful partnership. Jonathan Morrow Since purchasing our first investment in 2005 you have continued to exceed our expectations. In particular the professionalism, attention to detail and judgment that you display are exceptional The fact that you are both accessible and approachable is something we value greatly. We would like to recommend you to anyone seeking high levels of service. Chris & Claire Serginson I read through all the information packs provided by various agents, compared all the costs and charges. What stood out was the first impression I experienced when I entered Harcourts Victoria Park who made me feel important and was interested in doing business with me. I later entrusted the care of my investment to Harcourts Victoria Park. Mark Song I just wanted to show my thanks, I really appreciated good service, it is becoming very hard to find these days, you should be proud of your business. Lisa O Connor

14 Fee Schedule: *for 2 year fixed term authority Letting Fee Management Fee 2 Week s Rent 8.50% + gst + gst Routine Inspections $ gst Final Inspections $ gst Lease Renewal / Re-negotiations $ gst Postage & Petties per month $7.50 +gst Property Condition Report (Once off cost only) 3-4 Bedroom / 3 Living Room $ gst 2-3 Bedroom or 2x2 Unit $ gst 1-2 Bedroom 1 Bathroom Unit $ gst Inventory (crockery, cutlery, etc.) $ gst Notes:

15 And please remember to: Re-direct your mail. Organise for the power supply to stay on until a tenant moves into the property (especially if you have a pool). If you have a pool organise for maintenance to be carried out whilst the property is being marketed. Make sure your building insurance remains up-to-date and you have adequate contents insurance. Contact your insurance agency to advise of the property being leased. Contact your security monitoring agency to advise of change of details. Ensure the carpets are professionally steam cleaned, the property is professionally cleaned and windows cleaned inside and out. And don t forget the exterior, does that need washing also?. And relax in the knowledge that your property is in the hands of a SPECIALIST.

16 Tracey Wilson - Director / Licensee Harcourts Victoria Park 434 Albany Hwy, Victoria Park, 6100 P: (08) M: E: tracey.wilson@harcourts.com.au W: