At Longreach Real Estate we take great pride in our delivery of care and attention to both our clients and prospective tenants. Listed below are some of the main and most important aspects of our Property Management Services.
All viewings of properties entrusted to us for leasing are by appointment only and we accompany all prospective tenants on inspections to ensure maximum security and the optimum opportunity to present the best features of the property. Keys are never handed to prospective tenants for unsupervised inspections.
To delays in finding a suitable tenant it is advisable to list your property to let at a figure as close to current market value as possible, taking into account the following:
- Rent being asked for currently available similar properties
- Rent being obtained for currently leased properties
- General inquiry rate taking into consideration seasonal demand.
As we show each prospective tenant through your property personally, this serves as an informal interview, when questions about the property can be answered.
When a prospective tenant wishes to make application to lease the property, strict selection guides are employed before approving any tenancy application and this is usually done in direct consultation with the Landlord/Property Owner if required before any approvals are given. Prospective tenants are provided with a comprehensive questionnaire that provides us with a verification of:
- Previous rental history
- Landlord/Agency references are checked
- Employment references are checked
- Income is checked
- Personal and employer references are checked
When an application has been approved the following steps will be taken:
- A form 18a General Tenancy Application is completed. Any extra clauses may be added to cover specific requirements of the Property Owner or the Tenant.
- A comprehensive entry condition report, including photographic records, is completed by us before keys are handed to the Tenant. The Tenant is then given three (3) working days to check, sign and return the report to our office.
- An inventory is prepared listing all chattels/remaining items included with the property, noting their condition.
- A bond calculated at four times the weekly rent, is collected before the keys are released. This bond is then lodged with the Rental Tenancies Authority within 10 days of receipt.
- We encourage tenants to pay rent by Direct Deposit as this method of payment minimizes the potential for rent arrears. On entry, the tenant is provided with:
- The lease, 2 copies of the Condition Report and the Bond Lodgement Form
- A list of guidelines for care specific to the property
- A list of all local amenities, essential and emergency services.
On the last working day of each month a statement detailing rent collected, itemized authorized expenditure and management fees is sent to the Landlord for your own records. The due to you is direct deposited into your nominated account on a monthly basis.
If market conditions warrant, regular rent reviews are carried out at the end of each lease period in order to maximize your investment returns.
Routine Condition Reports
Our Property Manager will carry out a detailed condition report on your property every 3 months. Any maintenance issues will be dealt with promptly and reported to you immediately. Our preferred trades people are required to register their public liability insurance details together with their qualifications, thus ensuring a professional standard of workmanship.
Although Our Tenant screening and selection process is detailed, problems can occur when changes in a Tenants circumstances, such as family breakdown, job loss etc’. Accordingly, we advise all our Lessors to carry Public Liability, Building and Landlord Protection Insurance. These policies provide coverage against loss of rent and malicious damage to building and contents.
Small Claim Tribunal Hearings occur in rare circumstances. Our standard fee for Mediation/Tribunal Hearings is charged at a rate of $55.00 per hour.
Property Management Fees and Charges
Letting commission: First weeks rent plus GST
Rent collection Commission: 5% of rent collected plus GST
Management Fee: 3.5% of rent collected plus GST
Monthly accounting fee: $3.50 plus GST
- To ensure that the condition of your property is maintained and a swift re-letting, we will advise you immediately when we are notified that your tenant is vacating, and discuss with you what you would like to do.
- A review of the rental price is carried out to reflect movements in the consumer price index and movements in the overall property market values.
- Marketing and promotion begins immediately.
- A bond inspection is carried out based on the Condition Report completed prior to commencement of the tenancy.
- The bond is refunded to the tenant only when we are satisfied with the condition of the property, taking fair wear and tear into account.
- We can provide for you, at short notice, a free of charge sales appraisal to ensure that you are kept aware of the current value of your property and market trends.
Preparing your property for rental
Please ensure that:
- An electrical safety switch has been installed.
- Smoke alarms with new batteries have been installed. (A requirement under the Residential Tenancy Act.)
- All personal items have been removed from the property.
- Manuals, warranties and serial numbers for all appliances have been supplied.
- All appliances are clean and in good working order.
- All light globes are in working order
- All carpets are professionally cleaned.
- Ceiling fans, shower screens and tiled areas in bathrooms, door and window tracks, exhaust fans, tiled/timber floors and windows are clean.
- Bathrooms are clean
- Windows are clean
- All curtains/blinds/verticals are clean and correctly fitted.
- All cupboards/bench tops are clean
- Professional pest control (cockroaches & fleas) has been carried out.
- The rain water tank is at least 50% full
- The gutters have been cleaned or gutter guard installed.
- All rubbish/debris has been removed from the property
- All gardens are weeded and lawns mowed.
- Sweep verandas.
- Remove all stains from garage/carport/driveway.
Under the Residential Tenancy Act
- A key for all locks at the property must be provided to the tenant and a complete set of keys to all approved tenants to gain access is required.
- We also require a full set of keys to be kept in our office for use in case of emergencies.
Areas for your consideration.
- Tenants do not clean gutters. It would be to your advantage if we were able to organise for the gutters to be cleaned regularly, thus ensuring clean water in the tank. Alternatively, a good gutter guard system could be installed.
- Garden maintenance included into the rent is often the best option given that tenants are not always the best gardeners!
- Maintenance costs: We will require your authorisation of an amount Longreach Real Estate could authorise on your behalf for necessary repairs, equivalent to two weeks rent.
Longreach Real Estate