MANAGEMENT PROPOSAL BOOKLET

Transcription

1 MANAGEMENT PROPOSAL BOOKLET Vicki-Lee Cornwell Principal Phone: Fax: Mail: PO Box 280, Cockatoo Valley SA 5351 RLA: ABN:

2 Table of Contents CHOOSING YOUR PROPERTY MANAGER... 2 QUESTIONS YOU SHOULD CONSIDER WHEN LOOKING FOR THE RIGHT PROPERTY MANAGER... 2 TENANT SELECTION... 3 RENT ARREARS... 3 INSPECTIONS... 4 MAINTENANCE... 4 ACCOUNTS... 5 INSURANCE... 5 PROPERTY INSURANCE PLUS REQUEST FOR COVER LANDLORD PROTECTION POLICY... 6 STATEMENTS... 7 RENT INCREASES... 7 PROPERTY MANAGEMENT PACKAGE & FEES... 8 RATE CHARTS... 9 RATE CHARTS (continued) PRESENTING YOUR PROPERTY SMOKE ALARM TESTING SERVICES [email protected] Phone Fax

3 CHOOSING YOUR PROPERTY MANAGER Choosing a Property Manager should not be a daunting task. Property Management has become a serious business and selecting one on fees alone can often end in disillusion & disappointment. You need to choose someone who will pay attention to the finer details and continually strives to maximise the return on your investment. The Management of your property should be given to the right person who will manage your investment assets not just your property. I am an experience Property Manager in all areas of Property Management, with regular training. This ensures that you will receive the very BEST service and advice available. Questions you should consider when looking for the right Property Manager. QUESTIONS YOU SHOULD CONSIDER WHEN LOOKING FOR THE RIGHT PROPERTY MANAGER How long have they been working in the field of Property Management? How many properties do they currently manage? What formal training/qualifications do they have? Are they a member of the Real Estate Institute? Do they communicate in a timely matter when a tenant is in arrears or vacating or if there are problems at the property? Do they have good listening skills? What is their procedures for managing arrears? When will you receive your money? [email protected] Phone Fax

4 TENANT SELECTION Selecting the right tenant is a very important process. To be accepted for a property the tenant is required to pass all of my checks. Once this process is approved, you the Landlord will be notified of any suitable applications, whereby ultimately you decide on what application is approved. To qualify as a suitable tenant, they need to be able to produce good references form previous Landlords, Property Managers, as well as professional & personal references. Their current employer is also contacted to verify employment, income & their personal character. In the case of a person who has recently sold their property, I will enquire with the salesperson involved, as they will usually give me an indication of the lifestyle of the applicant and on how they presented their own property. I also subscribe to a tenant reference database service called TICA. This database contains information on tenants that have defaulted on their rent or who have breached a term of their tenancy agreement. Although not every defaulting tenant is listed on this database, it is growing on a daily basis and is an added tool for processing a tenant application. If I have a tenant who has defaulted on their rental payments and has vacated owing money, I will lodge their details with the database. RENT ARREARS I have a zero tolerance for rent arrears. At the signing of the tenants lease agreement I clearly explain to tenants their legal requirements with rental payments. Every precaution is taken to minimise tenants falling behind in their rent by carrying out daily checks on all Tenancy Agreements. FAILURE OF A TENANT TO PAY RENT ON TIME WILL RESULT IN THE FOLLOWING: 5 days late I will result in me sending an sms, advising them that they have missed a PAYMENT and to please pay the rental payment immediately. 7 days late I will sent the tenant an arrears letter. I will also send you an sms letting you know the tenant is late in paying the rental payment. On the 15 th day, without exception, if the tenant has still not paid the rent, a Form 2 Notice of Breach is served. The tenant then has 10 days to pay all outstanding money owed. You will also get a copy of this form 2, so you know what is going on. If they don t comply with the Form 2 Notice of breach I will apply for a hearing with the Residential Tenancies Tribunal (Form 7). There is a fee charged by the Consumer and Business Services I will notified the landlord. This fee is passed back to the tenant for payment. [email protected] Phone Fax

5 INSPECTIONS I carry out a detailed ingoing inspection report, including photos prior to each new tenancy. At the end of a tenancy I carry out a thorough final inspection again with photos. The landlord will receive a copy of every new Tenancy Agreement and photos as well. I conduct inspections every 3 months on behalf of the landlords. After this inspection the landlord will receive a full written report of the property s condition. During these inspections I will conduct a maintenance inspection as well as a general check of the internal and external condition. Should any major maintenance be required, I will notify you immediately. MAINTENANCE When I advise the landlord that there is maintenance needed at the property, it is important that this is attended to in a timely manner. The neglect of minor repairs will always lead to major (and more costly) repairs at a later date. At its worst, poor maintenance can cause a good tenant to leave. I only engage tradespeople who meet my high standards. They must be licensed and they must have public liability insurance cover to protect you and your investment. All maintenance work carried out on your property is guaranteed. If at any time I am not satisfied with the quality of the workmanship I will instruct the tradesperson to rectify the problem immediately. [email protected] Phone Fax

6 ACCOUNTS Most investors would like a worry free package. I can pay all accounts that relate to your investment property. Council rates Water rates Insurance Emergency service levy Land tax Strata corporation fees I will need you to organize account numbers for these accounts so that I can contact the providers, to arrange for them to be sent to my office. INSURANCE I strongly recommend you have Landlord Insurance for the following reasons. On the rare occasions, a tenant does vacate the property owing money, or has caused damage to the property. Landlord insurance cover loss of rent by absconding tenants or tenants that have been evicted, malicious damage caused by tenants of their visitors. As part of my service, and the continual effort to provide the best property management, at the same time protecting you investment, I advise you to take out Landlord insurance. I encourage Landlords to have a look at what PROPERTY INSURANCE PLUS have to offer. I have found them to be reasonably priced & easily accessible to answer any questions I may have & make the claim as stress free as possible. Please take time to read about this company from the enclosed booklet. As part of my service, I can organize this on your behalf, when a tenant has been signed up to move into the property. All you have to do is fill in the next page of this booklet, tear it out and pass it onto me. [email protected] Phone Fax

7 PROPERTY INSURANCE PLUS REQUEST FOR COVER LANDLORD PROTECTION POLICY Real Estate Agent: Property Manager: Just Think Property Vicki Cornwell Date:... LANDLORD DETAILS Landlord name:.... Landlord s personal postal address (PO Box is OK)... Landlord s contact: (m) Landlord s address: RENTAL PROPERTY DETAILS (property to be insured) Address: Postcode:..... State:... Address: Postcode:..... State: Address: Postcode:..... State: Cover to commence on (cover cannot be backdated):.... If a property to be insured is currently tenanted, is the tenant in rent arrears or has the tenant been more than 14 days in rent arrears in the past 2 months? YES NO Weekly rent: $ (To insure for weekly rent above $1,000 additional premium is payable) Please direct all landlord insurance enquiries to Stephen Blair When this application is accepted. Property Insurance Plus will the policy invoice to your office for payment. Property Insurance Plus will also confirmation of cover to the property owner. Fax this form to [email protected] Phone Fax

8 STATEMENTS I officer the investor s both mid-month and end of month payments if needed. At the end of each month you will receive an easy to read statement, either via or in the post. Whichever one suits the investor. EACH STATEMENT CONTAINS: How much rent has been paid & the dates the tenants are paid to Any outgoings, that I have paid, like rates etc Any maintenance invoices to contractors for work carried out Management fees, admin fees, & gst Your nominated account & the amount paid into that account I will supply you with a statement at the end of each financial year summarising all income and expenditure relating to the property. RENT INCREASES As part of the service for the investors I am constantly monitoring the current market rent on your behalf. This is carried out when a tenant s lease agreement comes up for renewal. Also if a tenant vacates the property, I discuss with you about the options of increasing the rent where possible. [email protected] Phone Fax

9 PROPERTY MANAGEMENT PACKAGE & FEES Management Fees Sliding scale of Rental charges Letting Fee 1.1 weeks Lease Renewal 1.1 weeks Admin Fee $5.50 Quarterly Inspections Maintenance Tribunal Insurance Claims Inspections Initial/Final Rent increases Advertising NO CHARGE NO CHARGE NO CHARGE NO CHARGE NO CHARGE NO CHARGE NO CHARGE Phone Fax

10 RATE CHARTS Rent Per Week Management Fees Cost Per Week Cost Per Year Reletting/Renewal Fees Administration Fees Monthly Total Yearly Charges* $ % $16.00 $ $ $5.50 $1, $ % $16.40 $ $ $5.50 $1, $ % $16.80 $ $ $5.50 $1, $ % $17.20 $ $ $5.50 $1, $ % $17.38 $ $ $5.50 $1, $ % $17.78 $ $ $5.50 $1, $ % $18.17 $ $ $5.50 $1, $ % $18.57 $ $ $5.50 $1, $ % $18.72 $ $ $5.50 $1, $ % $19.11 $ $ $5.50 $1, $ % $19.50 $1, $ $5.50 $1, $ % $19.89 $1, $ $5.50 $1, $ % $20.02 $1, $ $5.50 $1, $ % $20.41 $1, $ $5.50 $1, $ % $20.79 $1, $ $5.50 $1, $ % $21.18 $1, $ $5.50 $1, $ % $21.28 $1, $ $5.50 $1, $ % $21.66 $1, $ $5.50 $1, $ % $22.04 $1, $ $5.50 $1, $ % $22.42 $1, $ $5.50 $1, $ % $22.50 $1, $ $5.50 $1, $ % $22.88 $1, $ $5.50 $1, $ % $23.25 $1, $ $5.50 $1, $ % $23.63 $1, $ $5.50 $1, $ % $23.68 $1, $ $5.50 $1, $ % $24.05 $1, $ $5.50 $1, $ % $24.42 $1, $ $5.50 $1, $ % $24.79 $1, $ $5.50 $1, $ % $24.82 $1, $ $5.50 $1, $ % $25.19 $1, $ $5.50 $1, $ % $25.55 $1, $ $5.50 $1, *Subject to lease break, change over, lease duration. After $500 per week rental amount the management fees are 6.5% for all investment properties Phone Fax

11 RATE CHARTS (continued) Rent Per Week Management Fees Cost Per Week Cost Per Year Reletting/Renewal Fees Administration Fees Monthly Total Yearly Charges* $ % $25.92 $1, $ $5.50 $1, $ % $25.92 $1, $ $5.50 $1, $ % $26.28 $1, $ $5.50 $1, $ % $26.64 $1, $ $5.50 $1, $ % $27.00 $1, $ $5.50 $1, $ % $26.98 $1, $ $5.50 $1, $ % $27.34 $1, $ $5.50 $1, $ % $27.69 $1, $ $5.50 $1, $ % $28.05 $1, $ $5.50 $1, $ % $28.00 $1, $ $5.50 $1, $ % $28.35 $1, $ $5.50 $1, $ % $28.70 $1, $ $5.50 $2, $ % $29.05 $1, $ $5.50 $2, $ % $28.98 $1, $ $5.50 $2, $ % $29.33 $1, $ $5.50 $2, $ % $29.67 $1, $ $5.50 $2, $ % $30.02 $1, $ $5.50 $2, $ % $29.92 $1, $ $5.50 $2, $ % $30.26 $1, $ $5.50 $2, $ % $30.60 $1, $ $5.50 $2, $ % $30.94 $1, $ $5.50 $2, $ % $30.82 $1, $ $5.50 $2, $ % $31.16 $1, $ $5.50 $2, $ % $31.49 $1, $ $5.50 $2, $ % $31.83 $1, $ $5.50 $2, $ % $31.68 $1, $ $5.50 $2, $ % $32.01 $1, $ $5.50 $2, $ % $32.34 $1, $ $5.50 $2, $ % $32.67 $1, $ $5.50 $2, $ % $32.50 $1, $ $5.50 $2, *Subject to lease break, change over, lease duration. After $500 per week rental amount the management fees are 6.5% for all investment properties Phone Fax

12 PRESENTING YOUR PROPERTY Presentation of your property is very important. A well-presented property will generally attract good quality tenants, and that s what we both want. OUTSIDE: Gardens free of weeds, rubbish & dead plants, trees and shrubs trimmed. Driveways, carports, garages and any concrete areas to be free from oil and grease stains. All gutters to be cleared of leaves etc. Any outside paintwork. If the property has a pool, ensure the pool is sparkling clean, ensure filters & all parts are working. These are all the things a prospective tenants looks at even before they have walked through the front door. INSIDE: Eliminate all odours that the prospective tenants will smell ie: pet, & cooking smells. Get the carpets professionally cleaned (please provide me with a receipt), I will then be able the have the vacating tenants to have them cleaned. All window treatments clean and working. All cobwebs to be removed. Make sure all electrical wiring and power points are safe and cleaned. All light fittings to be cleaned and insects removed. Particular attention should be paid to bathrooms and toilets, shower recess to be scrubbed. Grouting to be free of all soap residue or mildew, shower screen to be cleaned and all plugholes are to be cleaned and free from debris. All mirrors throughout to be cleaned. All floors and skirtings boards to be washed. Marks to be removed from walls. Windows and windowsills to be cleaned thoroughly. All exhaust fans and air vents throughout the property to be cleaned. All cupboards to be cleaned inside and out. Stove, griller and oven to be cleaned. Smoke detectors must be compliant and situated in the correct positions, depending on the lay out of the home. As part of my service, I can organize this on your behalf, when a tenant has been signed up to move into the property. All you have to do is fill in the next page of this booklet, tear it out and pass it onto me. [email protected] Phone Fax

13 SMOKE ALARM TESTING SERVICES As part of my property management service, I can arrange for smoke alarms to be fitted or tested on your behalf. Please use the Property Owner Authorization form on the next page to request this service and I will make the appropriate arrangement on your behalf. [email protected] Phone Fax

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