Tuesday, 29 October 2019
Management Fees
Is there an advertising fee for the property?
Yes we subscribe to the premium packages for the most prominent internet portals being, realestate.com.au and domain.com.au, thereby giving our properties priority listing which results in maximum exposure and renting of your property 90 faster… We simply ask for reimbursement of this fee, being around $220
Is this payable every time the property becomes available for lease?
Yes
Where do you advertise?
We advertise on all major internet portals including our own, to a current database of 8000 and via all of our social media channels.
Will you be present to show the property to prospective tenants?
Always. We schedule Open Homes at least twice weekly and continue to show the property should anyone wish to view outside these times.
What is the process for screening tenants?
We have a 5 touch policy, whereby we begin screening tenants from the moment they first enquire, be it online of over the phone. We then have the leasing consultant come back with their report on the prospective, then the person who processes the application, with all the routine checks including, rental history and previous database checks., then over to the Property manager for screening, all before getting to you.
If at any point along the 5 touch process, anyone has a bad instinct about the prospective tenant, then we will not proceed with the Tenancy. This is the most crucial part of any Tenancy. Our main objective is to match the tenant not only to the property, but also to the Owner. This proves for a seem less tenancy and sees us maintaining our Zero Arrears and Zero vacancy factor..
Are you available weekends to show the property?
We have dedicated leasing consultants who work every Saturday and after hours if required to accommodate the prospective tenant. We also contact our database with any future property coming on. This often sees us moving our tenants from one property to another, without ever having to advertise it!
What is the commission’s payable?
Our management are tailored to suit your requirements and the amount of contact you might need in the management of your property. As discussed as this is a brand new property, we would not expect that we would require a high number of man hours to manage ongoing maintenance etc, therefore, we would be happy to offer a 7.7% GST inclusive package.
What does the commission cover?
As one of Brisbane’s leading Property Management Specialists our services offer way beyond the level that other property management companies. Apart from the regular day to day communication and tasks associated with managing a General Tenancy, we offer, extras such as, projected rental growth plans yearly, depreciation schedules, yearly appraisals, pro active maintenance programs in order to prevent any emergencies resulting in out of pocket expenses, rental reviews done twice annually, comprehensive monthly information delivered to your inbox, compiled by our property partners and more….
Is there any Administration Fee?
The modest admin monthly fee of $5.50 merely reimburses for the cost involved in disbursing monies into your nominated bank account.
Are there any other fees associated with the management of the property?
We believe in keeping it simply, so our management fees are therefore all inclusive ( professional photo shoots and advertising aside)
Property Inspections
How many property inspections are there per year?
In Queensland, we are only allowed to enter 4 times per year. We normally perform our first routine inspection, about three months after the tenant has taken up occupancy. This gives us a good idea on how the tenancy is going. For example, if the property is presented immaculately and the tenant has never missed a beat with their rental payments, then we will come back and discuss with you and reschedule for between and 6 months.
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Should however, the property not present the way we would like it to, then we will reschedule for another 4 months down the track. Our residents usually take pride in their place of residence and we have outstanding routine. By us scheduling a future routine for 6 months away is also a way of saying thanks. This on the reciprocal, sees longevity in our tenancies.
Is there a report done (including photos) included in the management fees?
We have a fully itemized routine report, along with photos that we email to you at the time. Our Property managers, are not only looking to see if there is any damage or maintenance that need to be done at the property, but they are also extremely mindful about how to maximise your rental return and will come back to you with suggestions and feedback on how to make this happen.
Other Questions
Do we need to maintain a reserve fund for urgent maintenance work? If so, how are the funds held?
Given our preventative risk management approach to maintaining our properties, usually we find this unnecessary. We have developed long term relationships with many of our tradespeople, who offer our clients special offers, if they take advantage of our yearly recommended programs, such as, yearly servicing on air conditioners, yearly gutter cleaning program, tree trimming, termite inspections, just to mention a few. This results in preventing any possible breakdown or damage before it occurs. You will have plenty of notice to prepare for any upcoming expense.
Will you be the property manager looking after the property?
I am different to most other Principals of Agencies, whereby, I am a non-selling Principal. My entire focus and passion lies with making property management land a better place. While I have dedicated professionals who will directly manage your property, I am extremely hands on and speak to all owners and residents on a regular basis.
How many properties do you currently manage?
Each of our dedicated property managers currently maintain between 70 and 100 properties. We also have administration and pm assistance.
How long does it take to fill a vacancy?
We have superior lease renewal procedures in place which sees us maintain a constant Zero vacancy factor.
What is your policy on managing tenant arrears? Once again, this comes down to having selected the correct tenant, who can both afford the rent and is suitable candidate. Tenant education is also a high priority for our team and we encourage open communication channels with all of our residents. This results in our constant 100 zero rental arrears over 5 days.
What would be your estimate of weekly rental potential of the property?
After having done a current market appraisal of similar properties in the area for rent, I would anticipate a rental return of between $600 and $620, however, we are reluctant to provide this until a thorough inspection has been carried out.
When do we receive our money?
We have two disbursements per month into your bank account
What is the contract period for property management?
Does this get renewed after each contract period? The legislative form required in Queensland provides for an ongoing contract. Termination clauses are included allowing for a 30 day termination period by either party, or, sooner if both parties agree.
Are they any termination fees to terminate contract after contract period?
No.
