Kimberley property management services www.kimberleyfirstnational.c
inside About us 2 Kimberley Our Systems Marketing Your Property for Rent Processing Tenant Applications Residential Lease Agreement Property Inspections & Reports Zero Tolerance on Rent Arrears Managing Your Money Maximising Rental Returns Repairs & Maintenance Communication 3 4 5 6 7 from the principal Our company was founded around one simple mission. To deliver RESULTS that exceed our clients EXPECTATIONS. We have created Best Practice Systems that provide solutions and satisfaction to your most desired wants and needs. At the foundation of our success systems is a philosophical shift from being a facilitator presenting to a Real Estate Consumer to becoming a catalyst for a Real Estate Client to find success in an Industry that for decades has been inefficient and often ineffective. Landlord Protection Insurance Rates & Water Outgoings 8 Sarah Williams Our Fees Explained 9 Frequently Asked Questions 11 306 Points of Difference 14 Contact Us (back page) 15 www.kimberleyfirstnat
about us Kimberley First National Real Estate is Kununurra s largest and longest standing real estate agency, with a reputation for offering quality services in both Sales and Property Management. Kimberley First National was established in 2002 by the merger of Kununurra First National and Professionals Northern Realty. Sarah Williams commenced with Kimberley First National in February 2003, following 5 years of real estate experience in Perth. Commencing in 1998, Sarah started as a receptionist and worked through the ranks in Property Management, Trust Accounting, Business Development and Sales Coordinating with various agencies. Over the years Sarah and her team have built a reputation for providing outstanding service. We utilise the best systems available and efficiency, technology, procedures and training are extremely important to us, together with ethics and old fashioned personal service. We strive everyday to improve, ensuring we never become complacent. As members of the Real Estate Institute of Western Australia we are 100% committed to the highest ethical standards. your property is as important to us as it is to you... if you re not happy, we re not happy first national kimberley we put you first 2
our systems We are proud members of the Property Management Coaching Academy which provides our office with extremely detailed checklists and procedures together with documentation that is continuously revised and updated as legislation changes. Astrid Sandiford formed the Property Management Coaching Academy following years of experience in the Property Management field. Astrid is extremely well known and respected in the industry. Each year Astrid visits our office to provide a week of extensive training in all areas of Property Management. We have 38 detailed checklists covering all aspects of Property Management to ensure nothing is forgotten or overlooked whilst managing your property. Our systems and procedures are the best in the industry and are not available through any other agent in the town. Our Property Managers work to detailed best practice procedures which include: 38 industry best practice checklists 38 industry best practice tenant letters 36 industry best practice owner letters 29 industry best practice standard letters 165 industry best practice standard forms finding a tenant marketing your property for rent Our office is situated at the Kununurra Shopping Centre and we attract tenants on a daily basis. Your property will be prominently displayed in our window, as well as advertised on our rental vacancy list which is readily available for collection from our reception area. We advertise all available rentals and we are in daily contact with a variety of Government and corporate tenants. Your property will be advertised on our agency website www.kimberleyfirstnational.com.au as well as the high profile site www.realestate.com.au We will promote your property to our Tenants Waiting database by email and sms. Prospective tenants are able to register via our website or in our office to receive notification when a property that matches their requirements becomes available for lease. We have attractive and prominent for lease signs that we are able to erect. All prospective tenants are shown through the property with the Property Manager, feedback from these inspections is provided to you either by telephone or email, whichever you prefer. We treat the security of your investment as paramount. We never give out keys to prospective tenants. 3 first national kimberley we put you first
the application process We understand that in order to receive a maximum return on your investment property vacancies need to be kept to a minimum. That s why we stay ahead of the game! Properties subject to expiring leases are immediately uploaded to our website and realestate.com.au as well as being promoted in our Utopia database where prospective tenants are waiting to be notified in advance when a property becomes available. We have excellent working relationships with the Government Housing Department and numerous small and large corporate tenants. As the largest agency in town, conveniently located at the Kununurra Shopping Centre, tenants visit our office first when looking for a rental property. we check every application before we ask Providing we have all of the information, all applications for tenancy are processed within 2 business days, all applications are presented to you, the owner, for the final decision in placing the tenant. Prior to that our stringent checklist ensures tenancy databases are checked, all references checked and 100 point ID checks conducted. Our expertise ensures that tenant selection is in accordance with laws covering Discrimination, the Residential Tenancies Act and the Privacy Act. not all leases are the same... a better lease for your peace of mind Ours is no ordinary Lease Agreement! It s our main point of difference when comparing us with other Property Managers. Private landlords have access to the DOCEP lease, we as REIWA agents have access to the REIWA lease, however both of these leases are deficient in many areas when managing the terms and conditions whereby tenants are required to abide by and be accountable for their actions while residing in the property. That is why we are members of The Property Management Coaching Academy. Astrid Sandiford, the Director, has over 24 years of Property Management experience and from this experience has written a Lease Agreement far more detailed than any other available to normal agents. Clear and simple wording and additional clauses make it clear to the tenant how we plan to administrate their tenancy, and clearly explains the responsibilities of the tenant and ramifications if the lease agreement is breached or damage is sustained to the property. Our policy is to deal with issues as they arise, not to wait until the end of the tenancy whereby often the bond will not be enough to compensate for damage or loss to the landlord. first national kimberley we put you first 4
property condition reports & vacate inspections At the commencement of the tenancy we complete an entry condition report which is carefully detailed, a large catalogue of photographs is taken and saved on file. At the end of the tenancy we use this detailed report and photographs to ensure the property is handed back in the same condition as it was at the start of the tenancy (fair wear and tear excepted). We do not release the bond until we are satisfied that a thorough inspection has been conducted and that everything is in order. routine inspections inspections We carry out routine inspections after the initial 6 weeks of the tenancy and then quarterly. We will forward you a report following the inspection. The purpose of routine inspections is to not only assess how the tenant is taking care of your property but to report on any preventative/pro active maintenance that may be beneficial. You are then aware of any works that may be recommended in the future. zero arrears tolerance = minimised loss to landlords arrears control Our office maintains a zero tolerance rent arrears policy. We have found that maintaining this policy has drastically reduced our rent arrears which benefits both landlords and tenants. At the time of signing the lease agreement, we conduct a comprehensive 45 minute tenant induction appointment explaining our arrears policy as follows: 2 DAYS LATE we sms, phone or email the tenant a reminder, this is usually sufficient. >> In the unfortunate event that it is not then we proceed as follows... 4 DAYS LATE DAY 13 we formally issue a Form 1B Termination, requesting that the tenant pay the outstanding monies within 7 days or vacate the premises. If none of the above is adhered to we will contact you for instructions on how to proceed, depending on the situation, we will lodge a court request for vacant possession. Other agents quite often issue a notice of breach giving the tenants 14 days to pay, followed by a 7 day termination notice, this is in affect gives the tenant 21 days to pay, this gives the tenant 21 days before they must rectify the arrears situation. By closely monitoring rent arrears and issuing termination notices rather than breaches, the risk and loss to you is minimised. Remember the bond is only 4 weeks rent, if we issue a breach followed by a termination, your tenant would be nearly 4 weeks late before the court application can even be lodged, it can then take up to 2 weeks to receive a hearing date, by this point your tenant is nearly 6 weeks in arrears, well above the bond held against the property, plus there will be water consumption owing, plus possible cleaning/damage accounts. By issuing a termination notice promptly and by-passing the breach procedure, we minimise the loss to you. When comparing Managing Agents, ask what their arrears policy is. 5 first national kimberley we put you first
managing your money All of the rent received for your property is administered through our trust account by our dedicated Trust Account Manager. The Trust Account Manager is responsible for maintaining the trust account including all receipts, disbursements and reconciling the trust account on a daily basis. On the last business day of the month we run our period end processing, when you will be paid directly into your nominated bank account. You will receive a detailed statement outlining all income and expenses for the month. At the end of the financial year you will receive your annual summary with copies of all invoices attached to give directly to your accountant, making tax time a breeze, no more chasing invoices at tax time! achieving market rent One of the biggest benefits of having Kimberley First National manage your property is that we have the largest rent roll in Kununurra and are therefore the best equipped to ensure your property is achieving market rent and maximising your returns. We can provide real market evidence when conducting your rent reviews. We are constantly speaking to landlords who are privately managing their own property trying to save money, only to find that their property is rented on well below market rent (at times between $100 - $200 a week less) when in reality they could have their property professionally managed and STILL be better off. relax while we take care of your investment first national kimberley we put you first 6
repairs We have a maintenance procedure in place. When attending to a repair on your behalf we will only use registered, licensed and fully insured tradespeople. You can nominate a maximum spend limit for your property, normally in the vicinity of $300, to allow us to undertake necessary repairs on your behalf. If any work is anticipated to be over our spend limit, we will contact you first for approval. Urgent repairs are defined as a repair that if not attended to immediately, will cause further damage to the property or potentially harm the tenant. We will always try and contact you if this situation arises, however if we are unsuccessful we will take action immediately on your behalf (Remembering that anything classed as an emergency, the tenant has the right to engage a contractor at your expense). If required we will attend the property and take photographs and notes, and lodge an insurance claim on your behalf should need be. maintenance We have a large database of dedicated tradespeople that we monitor closely to ensure you are receiving the best service and the best value for money. communication We believe that in order to provide quality customer service, stringent communication policies, procedures and technologies must be in place. You will have direct email access to your Property Manager, together with a mobile telephone number and office phone number. We have policies in place that ensure that all communication is responded to within the following time frames: Telephone messages: 1 business day Email: 1 business day Facsimile: 2 business days Mail: 4 business days We deal with enquiries, concerns or complaints you may have about our service promptly and completely. We are constantly striving to improve our business in every way and welcome your feedback. communication 7 first national kimberley we put you first
landlord insurance Unfortunately no agent can guarantee your tenant is going to pay the rent on time and look after your property. Our stringent reference checks and detailed Lease Agreements help protect you however the tenant s financial situation may change during their tenancy, their personal situation may change and sometimes events occur that are beyond even the tenant s control. This can cause a loss of income or malicious damage to the property. A standard building insurance policy does not cover the owner for these losses. EBM, our preferred insurers, offer both landlord and building insurance and by combining the 2, you can save up to 20-30% on your insurance premiums. We are able to arrange an obligation free quote for you, If you decide to go ahead with EBM we are then able to pay the premium from your rental funds so that the account appears on your annual summary. outgoings save up to 30% on insurance rates & water Under your written authority we are able to pay your shire rates and water rates for the property. This can be done in 1, 2 or 4 payments and will be shown on both your monthly and annual statement, making it easier at tax time. We normally recommend that the tenant pays 100% of water consumption. When the water consumption account is received, we pay it from your rent refunds and immediately invoice the tenant, giving them 14 days to pay the account. The reason we pay from your funds first is that the Water Corporation account is in the landlord s name and delays in payment can result in legal action against you as the owner of the property. We have a special clause in our standard Lease Agreement allowing us to deduct the account from the next rental payment if the account is not paid within 14 days. This allows us to implement our zero tolerance rent arrears policy and issue a termination notice for the arrears. first national kimberley we put you first 8
our fees explained management fees Management fees are charged on a percentage basis of monies collected, the amount charged per month will depend upon the actual amount of gross collections by the agency. Management fees are for our services in connection with... Attending to correspondence Administering your rental payments through our trust Organising keys for inspections and trades people Attending the payment of general property expenses Copying and retaining of invoices Organising maintenance repairs and quotes Attending to daily telephone, fax and email enquiries Rent collection and management of arrears Attending to court lodgements Preparing monthly statements, collating documentation Liaising with the strata company where applicable Organising special water readings when required Paying and recovery of water consumption charges Liaising and follow up with maintenance contractors Conducting market rent reviews Preparation of documentation for authority renewals Processing notices to vacate Liaising with owners and tenants Liaising with insurance companies Lodgement of new tenant bonds Disbursement of vacated tenant bonds 9 first national kimberley we put you first
letting fee The letting fee is for our services in connection with: Arranging, placement, recording and administering advertising Arranging, taking and uplifting photographs of your property Arranging and conducting personal viewing appointments with prospective tenants Administering and processing applications for tenancy 100 point checks Processing the application for tenancy including all references Negotiating the terms of the lease with both the owner and the tenant Attending to the preparation, execution and processing of the lease documentation, general information for tenants, photocopying keys and emergency plan for tenants Registering and activating the tenant s rental payment system sundries/postage and petties This is a flat fee covering business expenses such as postage, stationery and phone calls. ingoing inspection fee or property condition report This is a one off fee. A highly detailed property inspection report is prepared prior to the commencement of the first tenant s tenancy. A fully detailed description of every item in every room for both the interior and exterior of the property is recorded, the report includes photographs of both the interior and exterior of the property. The length of this report will depend upon both the size of, and existing wear and tear on the property. routine inspection charge These are conducted between weeks 6 & 8 of the tenancy and then quarterly. In circumstances where the tenant is exceptional we are happy to conduct 6 monthly inspections, saving you money and allowing the tenant quiet enjoyment of the property, however this is only after careful consideration and of course your written approval. It is not recommended to offer 6 monthly inspections to a tenant off the bat, whilst you may save money in the short term, in the long term it could end up costing you money, a lot can happen to a property if it is unchecked for 6 months. We are sure you have seen the stories on A Current Affair and similar programs! first national kimberley we put you first 10
FAQ frequently asked questions How much will it cost for you to manage my property? We understand that every property is different and most owners requirements are different. Therefore our management fee structure is varied based on these requirements. We understand that perhaps our fees may not be the cheapest in the area, however we strongly believe that we provide the best service to our landlords, have the best systems in place and have more experience than any other agency in Kununurra. Our fees are competitive and reflect the level of service we are committed to. How long will it take for you to find a tenant for my property? As soon as we receive your signed authority we will commence marketing your property. We have a checklist which is commenced immediately and studies have shown that we spend approximately 18 hours inducting a new client into our management portfolio. Your property will be marketed to the world within 48 hours of us receiving the authority, quite often even faster! I have a Government lease in place and have no problems with rent payments, why should I employ a Managing Agent? Firstly, are you receiving market rent for your property? We can provide you with an obligation free rental appraisal on your property and advise you of what the current market rent is, we think you may be surprised. Secondly, is your property being maintained properly, are the gardens being looked after. Allow us to conduct a routine inspection on your property to do a health check on your investment property. You may find that you ask yourself the question, what is it costing me not to have my property managed by Kimberley First National. Remember our fees are tax deductible. more questions? just call us we re always ready to help you 11
When will I/we receive our rent money? We aim to run our period end processing on the last business day of every month. If your tenant is paying calendar monthly and their payments miss our month end payout, we are able to make a special payment to you as soon as the money is received. It is our preference to pay directly into your bank account. Are any of the running costs or your fees and charges tax deductible? We recommend for you to contact your accountant to seek professional advice in relation to allowable tax deductions for your investment property. We can advise that mortgage interest payments, rates and taxes, general maintenance expenses, property and landlord insurances, and all of our fees and charges are tax deductible. Another tax deduction is the depreciation of the building and its chattels. Chattels include the paint, floor coverings, light fittings, window treatments and other improvements to the property. In order to maximise the allowable depreciation tax deductions for your investment property, we strongly recommend you employ the services of a quantity surveyor, who is properly qualified to prepare a full list of all the depreciable items for your investment property. If you wish we can arrange this for you. 12
FAQ continued What is your service guarantee? If for some reason you are not 100% satisfied with the service you are receiving we ask that you notify us in writing of your concerns. If after 28 days we have not rectified the situation, we will hand the property back to you at the next period end processing date and no penalties for early termination will be charged. We are committed to providing the most ethical, professional and reliable real estate service to our clients and if you are not happy, we are not happy. 100% SATISFACTION GUARANTEE if you are not happy we are not happy Our service guarantee does not apply in the following circumstances: where we are requested to carry out non-standard duties where matters are outside our control eg; natural disaster or accident I am renting my property out for the first time, what should I do? In order to maximise your returns and attract the best tenant we recommend... Lawns and gardens neatly mowed, free of weeds, freshly mulched Grounds to be completely free of rubbish Interior to be cleaned thoroughly, we recommend engaging a professional cleaner to conduct a real estate clean, this includes but is not limited to all surfaces, windows, window tracks, exhaust fans, air conditioner filters, bathrooms, kitchens, oven and interior cupboards. The tenant is then required to return the property in the same condition, a receipt from a professional cleaner, photographs and a detailed property condition report make it extremely difficult for any discrepancies at the end of the tenancy Make sure all light globes, power points, air conditioners and appliances are in good working order, it s a good idea to have the air conditioners serviced as well Make sure reticulation is in good working order It is a fantastic bonus for the tenant if you can provide written instructions on how to operate things in your home such as reticulation, swimming pool equipment etc Provide us with 3 sets of keys for ALL locks YOU MUST... Install 2 RCDs on the switchboard AS PER CURRENT LEGISLATIONS and provide us with a certificate from a licensed electrician stating that your property meets the current RCD legislation Install hardwired smoke alarm/s as per current legislation Ensure your swimming pool meets the safety requirements Insure the building, building contents and public liability 13 first national kimberley we put you first
306 points of difference all which help to manage your property the way it should be managed 38 industry best practice checklists + 38 industry best practice tenant letters + 36 industry best practice owner letters + 29 industry best practice standard letters + 165 industry best practice standard forms = 306 unique and better ways to help manage your valuable investment. And it doesn t end there... Our systems and procedures are the best available in the industry and streamline the Property Management process beyond expectations. No other agent in Kununurra can offer you the systems, procedures, experience and knowledge that Kimberley First National can offer you. Our reputation is the backbone of our success and it all comes with our 100% satisfaction guarantee. If you have any further questions, or just want to discover a better way to manage your investment, simply call or email our dedicated Property Management team. We look forward to doing business with you. 14
Kimberley property management services Kununurra Shopping Centre 15/64 Konkerberry Drive, Kununurra WA 6743 phone 08 9168 2666 fax 08 9168 2605 email admin@kimberleyfirstnational.com.au www.kimberleyfirstnational.com.au Kimberley Property Investments Pty Ltd, trading as; Kimberley First National Real Estate and/or First National Real Estate Kimberley ACN 074 873 779 ABN: 76 074 873 779 REBA TC NUMBER: 37466 www.kimberleyfirstnational.com.au