MANAGING YOUR
INVESTMENT PROPERTY
ABOUT...
“Newcastle Property Management”, holds the responsibility for looking after your most valuable asset in the highest regard and will continually work towards providing you with the ultimate property management experience. Our results, ethics, service and achievements stand us apart from our competitors. We are committed to working with you to achieve the best result. Since 1971 we have helped thousands of property investors manage their biggest investment. What’s more, we can do the same for you. Newcastle Property Management works in the absolute interest of all our owners. They are equipped with experience, knowledge and all the tools needed to effectively manage your valuable asset. If you’re committed to getting the best result for your investment and you want the process to be as rewarding and stress free as possible, we can help you.
At any time should you wish to discuss your property with me, I welcome your call. Craig Andriessen J.P Director
2
Managing Your Investment Property
OUR
staff
Kellie Andriessen is our Senior Property Manager and oversees the team at Newcastle Property Management. Kellie’s goal is to look after our Investor’s properties like her own and maximise their returns whilst also ensuring it is as stress free as possible for you, the investor. Kellie is a property investor herself and has been working in property management since 1989 and understands the importance of attention to detail and the Tenancy Act inside and out. So you know you will be in good hands.
Managing Your Investment Property
3
HOW DO
WE FIND
tenants? Newcastle Property Management’s marketing campaign is high impact and innovative, proven to find tenants in the shortest possible time frame. Once you have made the decision to employ Newcastle Property Management as your managing agent our marketing campaign commences immediately.
The marketing campaign consists of the following:
4
Managing Your Investment Property
1
Internet Advertising
.
newcastlepropertymanagement com.au
WITH
quality
PHOTOGRAPHY
AND DESCRIPTIONS
Managing Your Investment Property
5
2
3
Tenancy Matching Newcastle Property Management’s exclusive database includes tenancy applicants who have already registered their requirements with us. Our database consists of over 4500 registered tenants.
For Lease Sign YOUR 24 HOUR A DAY SILENT LEASING AGENT When a tenant is looking for a new home in a certain area, they will spread the word through friends and family. Whilst simple, this form of marketing is highly affective.
6
Managing Your Investment Property
4
Rental List Each and every property For Lease is listed on our full colour rental list which is updated daily.
TENANT
complete
SELECTION Newcastle Property Management pride ourselves on our reputation and referral base business; therefore, we have designed a strict tenant interview and application process.
It is our office policy that every prospective tenant is accompanied to a property with a member of our property management department. Under no circumstances we will issue keys to your vacant investment property.
During the property inspection with the prospective tenant, our staff member attending the appointment conducts an interview to access their suitability for the rental property. Once the application is received, we thoroughly check their 100 points of ID along with confirming employment details. If the applicant has a rental history, we contact their previous manager or landlord to discuss their tenancy along with obtaining a copy of the rental payment ledger. Newcastle Property Management is also a member of Tenancies Information Centre of Australia (TICA) a comprehensive database of defaulting tenants. This database is an imperative tool when it comes to selecting a tenant. Prospective tenants are checked by our property manager before being run past the landlords who have the final decision.
TENANCY
agreement
RESIDENTIAL
Once a tenant has been approved to lease your investment property and they are ready to move in, they are required to enter into a binding Residential Tenancy Agreement. Newcastle Property Management will prepare the Residential Tenancy Agreement along with supporting documentation such as entry reports, photocopy of the keys being provided and bond lodgement forms. At the appointment to sign the Residential Tenancy Agreement, the Property Manager will ensure that the tenant fully understands the terms of the agreement and their responsibilities and payment of two weeks rent in advance by the tenant. By law your Property Manager will sign this document on your behalf. A rental bond equivalent of 4 weeks rent is collected and disbursed to the Rental Bond Board for the duration of the tenancy.
Tenants to be issued with our exclusive tenant handbook.
COMPREHENSIVE PROPERTY
inspections
1 2 3 4
In order to monitor and ensure that your investment is being well maintained at the highest possible standard, inspections are both a priority and responsibility of investment
ENTRY CONDITION REPORT Prior to the tenant moving into your investment property an in-depth and detailed condition report will be completed by your property manager. A minimum of 25 photographs will be taken via digital camera at the time of the condition report being completed for the file.
PERIODIC INSPECTIONS
The first inspection will be conducted six weeks into the tenancy and every three to four months thereafter. Following each inspection a comprehensive report on the overall condition along with any recommended repairs and maintenance will be sent to you. Digital photos will also be taken at the inspection to remain on file. Please advise the property manager if you would like to attend the periodic inspections.
EXIT CONDITION REPORT
Once the tenant has vacated the property and handed in all of the keys to our office, an in-depth and detailed exit report is completed and cross referenced with the initial entry report to ensure that the property is left in the same condition as when the tenants moved in, given fair wear and tear.
AT RANDOM DRIVE-BY INSPECTIONS Newcastle Property Management are always in the area. Frequent drive-by spot checks are important as they can often identify if the property exterior is being maintained or not. If the yard is not being well maintained, immediate action will be taken to have the issue rectified.
10
Managing Your Investment Property
Managing Your Investment Property
11
management ARREARS
PROCESS
Newcastle Property Management have zero tolerance rental control procedure that is always adhered to regardless of the tenants reasoning's behind late payment. This procedure is to ensure effective management of arrears to protect your investment. Following is a sample of our arrears process:
LEASE & RENT
reviews
Newcastle Property Management are consistently monitoring the market conditions and property prices. You will be contacted eight weeks prior to the expiration of the lease seeking your instruction in relation to renewing the lease for a further 6 or 12 months. At this time, we will advise you of the current market rate to ensure that your investment is receiving a premium return at all times. Should you decided not to offer your tenant a new lease, but keep them in an “ongoing tenancy�, we will continue to re-access your rent twice yearly, to maximise your investments return.
Managing Your Investment Property
13
payment OF INVOICES
MONTHLY
accounting NEWCASTLE PROPERTY MANAGEMENT HAS... … a complete computerised accounting system to alleviate errors and confusion.
PAYMENTS ARE MADE DIRECTLY... … into your bank account either monthly or twice monthly.
A DETAILED STATEMENT... … with any invoices paid during the month will be posted or emailed to you.
YOUR PERSONAL
Information CENTRE
Our online web portal gives you the ability to monitor your residential investment property 24 hours a day. Instead of having to get in touch with our office during business hours, you can view, search and download the details you need, all from your home or office computer at any time of the day or night. A snapshot of what you can access:
16
•
See easily where your tenant is paid up too.
•
See information on property inspections and maintenance tasks.
•
Download monthly statements and invoices.
•
Download previous correspondence.
Managing Your Investment Property
excellence
NEWCASTLE PROPERTY MANAGEMENT COMMIT OUR STANDARDS IN WRITING
All clients receive:
1. 2. 3.
Our Exclusive Property owners handbook. Service Standards Commitment. Monthly Newsletters with reliable information in relation to market trends as well as legislation changes.
Managing Your Investment Property
17
FEES:
why
ALWAYS
CHEAPER IS NOT
BETTER
The real estate industry has been inundated by agents prepared to work for low fees. On the surface this looks like a great deal, but getting a good deal on the leasing of your property with a great tenant relies on more than just a low commission. Some landlords make the mistake of selecting a property manager offering the lowest commission or promising the highest leasing price for the property. This often misses the market of potential qualified tenants and the best possible price. This can mean your property takes longer to be rented or undesirable tenants applying for the property because the agent doesn't have much investment in leasing the property or has the property priced outside the market. Property management is a professional service. Selecting a Property Manager who offers the lowest fee can be costly to your investment in return. In your decision to select a Professional Property Manager to manage your investment property, it is imperative that all the staff are experienced in applying lawful procedures, have a keen attention to detail and have the systems in place to maximise the return on your asset along with managing your property as though it was their own.
Managing Your Investment Property
19
Our Packages Newcastle Property Management has been servicing clients’ needs for over 40 years, but we still believe in providing a personalised service, tailored to suit different owner’s needs. However, most of our clients tend to choose one of the following 2 packages: 1. 2.
Comprehensive Management Service The Active Landlord Involvement Package
1. Comprehensive Management Service: This package is by far our most popular and is for clients who wish to be at an arm’s length from their investment and have a highly trained team of Professionals look after the day to day process of managing their property and tenant.
2. The Active Landlord Involvement Package: This is ideal for Landlords who are already self-managing their property and /or like to be involved actively with the process. Today they are finding it somewhat harder to market their property comprehensively on the internet and find quality tenants that also pass the Tenancy Databases. They may also be having issues with ensuring they meet all compliance issues imposed by the Residential Tenancy Act 2010 and ensuring they keep track of all incoming and outgoing money. The active Landlord stays in a high degree of control by staying in touch with the tenant and arranging all repairs, carrying out and completing all inspection reports (Ingoing, Outgoing and Routine), responding to any issues the tenant may be having and also attending NCAT should it be required. To compare which services are included in each package, please look at the comparison table over the page.
Receive requests for repairs & maintenance
Applications to NCAT Appearances before NCAT
MAKING
PROPERTY MANAGEMENT EASY FOR
PROPERTY INVESTORS
www.newcastlepropertymanagement.com.au phone 4956 9777 email mail@newcastlepropertymanagement.com.au