Property Management Information
Choosing a Property Manager
A good property manager pays attention to the fine print, confidently knows all relevant legislation and can apply it, and will endeavour to give you the best return on your investment. They will attend training programs and seminars and keep informed on changing conditions or laws. The services provided should be a comprehensive management service (not just collecting rent) performed by a trained professional. It is important you are comfortable with your Property Manager and asking the right questions can give you that piece of mind.
- How long have you been in property management?
- How many properties do you manage?
- Do you engage external professional consultants?
- What procedural systems does your company utilise?
- Are you a member of the Real Estate Institute?
- How do you communicate with owners?
- Could you present me with testimonial letters from current and previous clients?
- What is the company policy on managing arrears? When would I receive my money?
- How often do you carry out market analysis / rent reviews?
Potential Renters
Quality renters are in high demand. And all renters have a right to reasonable housing standards. They deserve fair living conditions and to be treated with respect. Under federal and state anti-discrimination laws, real estate agents cannot follow discriminatory direction from owners. This can include treating someone less favourably due to their gender, nationality, religious or political beliefs, age, marital status, parental status, sexual preference, disability or impairment.
When choosing renters, owners and agents can address the following requirements.
- Is the number of occupants suitable for the property?
- Can the renter provide proof that they have suitable income to maintain and pay the weekly rent on time?
- Can the renter prove that they are able to care for and maintain a rental property to a good standard?
- References are always asked for and contacted, our application process is thorough and efficient.
You have the right to choose the most suitable renter, provided no unfair discrimination occurs.
Being a Rental Provider
Being an owner (also known as a rental provider) there are a few things you can do to ensure you are providing the best living standard to renters and receiving the best return for your investment.
Engage quality maintenance people
It is important to engage tradespeople that are adequately insured and licensed to ensure your property is well maintained. We have sourced a great team of tradespeople over the years that are reliable and experienced.
Obtain Landlord Insurance
Landlord protection insurance will provide you with peace of mind, protecting you against unexpected situations (income loss or property damage). When selecting a policy, read all the terms and conditions. Landlord insurance is tax deductable.
Maintain Safety Standards
Safety Compliance inspections are mandatory now, Smoke alarm inspections are carried out annually, Electrical and Gas inspections are every two years.
Being a property owner and rental provider can be very rewarding, but with all investments, you get out what you put in. Do your research, maintain your property and find an agent you can trust. This will best prepare you for a successful investment property return.
