Bourkes Property Management Guide

A Guide to Bourkes Property Management

CONTENTS THE RIGHT TENANT

Selecting the right tenant

1

PRESENTATION

Maintaining your property’s presentation

3

VACANCY

Minimising the period your property is vacant

5

RENTAL PRICE

Rental price and evidence

7

FEES Fees for service

9

PAYMENTS Prompt rent payments

TENANT / CONTRACTOR We reward good behaviour

11

13

COMMUNICATION 15 We will stay in touch BOURKES COMPETITIVE EDGE

17

WHAT HAPPENS FROM HERE

18

HOW DO WE SELECT THE RIGHT TENANT? 1. We arrange a face to face meeting with the applicant at the home open.

4. Tenant Education • Step by step explanation through the lease agreement; • Provide extensive amount of information on renting ‘the right way’ including Bourkes;

2. The tenant completes a REIWA application form including references.

• “Gimme Shelter” handbook;

We call current employer and previous employer;

Call current property manager and previous property manager;

Call personal references.

• Step by step instruction on the options for rent payment, ie B-Pay etc and the consequences of not paying rent, ie arrears policy; • Perfect inspections—tenant guide to inspections, breaching and rescheduling of inspections to the cost of the tenant.

3. Check to see if the tenant is listed on the NTD and TICA databases.

5. The Final Decision

All findings are presented to the owner, its their decision.

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MAINTAINING YOUR PROPERTY’S PRESENTATION Choosing the right tenant first

We initially prepare a detailed 40+ page Property Condition Report (PCR)

We train them on what we expect, including “Gimme Shelter Handbook” Letter to Tenant including “Inspection Guide”

First inspection within 6 weeks

Regular inspections / 3 monthly thereafter

If good long term tenant, we can reduce inspection numbers to save costs

Inspections include text and photographs

If unsatisfactory inspection, tenant advised and re-inspection in 14 days

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MINIMISING YOUR VACANCY PERIOD Phases of vacancy period PRIOR TO SETTLEMENT With written consent from the seller, we can advertise and arrange access to promote the property for a new tenant. We take applications prior, to coincide as close to settlement as possible.

MAINTENANCE Any maintenance issues that have occurred after the last property inspection are identified before the end of the tenancy in order for our reliable, fast acting contractors to fix the problem prior to the new tenant occupancy.

CHANGING OVER Once the tenant gives vacating advice or is advised to vacate, we arrange viewings of the property for new prospective tenants. This is all conducted with the tenants consent.

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FEES FOR SERVICE What is involved in the leasing process?

Preparation Phase

• • • • • • • • • •

Repairs and maintenance Carpet cleaning General cleaning Professional photographs Advertisement Upload to major web portals: realestate.com; REIWA; Domain Property Condition Report done Landlord insurance arranged Local authorities advised Order Signboard

Promotion

• • • • • • •

Web loading including photos Rental list Home opens Viewings Relocation agents showings Telephone queries Signboard installation

Leasing

• • • • • • •

Application forms Checking all references NTD & TICA databases checked Discuss details with the owners Lease Agreements / Sign Ups Collect 4 weeks bond and 2 weeks rent Tenant handover meeting

Managing

• • • • • • • •

Rental collection and monthly payouts Maintenance arranged Authorise / Strata levies paid Arrange inspections Rent reviews Regular market advice Termination of tenants Court appearances / breaches

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FOR LEASE

Bourkes Your Agent’s Name 0421 568 797 9474 2000 | bourkes.com.au

SCHEDULE OF FEES (INC. GST) Letting Fees Photographical Inspections Furnished (+ $25.00)

2.2 weeks $88.00

Property Condition Reports

$300.00

Final Bond Inspections Furnished (+ $25.00)

$250.00

Lease Renewal

1.1 weeks

Professional Photography

$99.00

Marketing

$199.00

Signboard (optional)

$124.00

Monthly Admin Fee End of FInancial Year Report Management Fee Management Fee - 2 properties Management Fee - 3 properties Management Fee - 4 properties +

$11.00 $88.00 9.50% 9.00% 8.50% 8.00%

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ENSURING PROMPT & REGULAR PAYMENTS (Zero tolerance rental arrears policy)

DAYS IN ARREARS

PROCESS

DETAILS

1

SMS

Text advice stating in arrears*

2

SMS

Text advice stating in arrears

3

Call

Call to follow up tenant

4

Termination

Lessors instructions sought and termination for non-payment of rent

14

Termination Date

Requiring vacant possession

15

Application to Court

Await date for court hearing

TBA

Appearance in Court

Magistrate gives vacating date

* We have a zero tolerance policy with rent arrears. As you are currently 1 day late, please make payment immediately. Thank You. We understand you have to pay a mortgage and the tenants rent is vital in that process.

Landlord Protection Insurance protects investors for arrears.

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WE REWARD GOOD BEHAVIOUR TENANT OF THE MONTH AWARD Every month we select a tenant with a strong payment record who is looking after the property well and reward them with a night at the movies plus a Certificate of Appreciation.

It’s similar to a Safe Driver Award.

CONTRACTOR OF THE QUARTER AWARD Similar to the tenant award, we thank Tradesmen who deliver prompt service at affordable rates.

This encourages them to work with us before other jobs and continue to deliver great service.

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COMMUNICATION No news is good news, right? Not necessarily...

Whatever method you prefer, mail, email, telephone, Bourkes is here to help.

Below is our table of communication with you over the management period.

MANAGEMENT AGREEMENT APPOINTMENT TO ACT PROPERTY PREPARATION PROMOTION/MARKETING HOME OPENS CHECKING APPLICATION LEASING COMMENCE TENANCY FIRST INSPECTION

MAINTENANCE

INSPECTION REPORT SENT

INSPECTIONS

ACTIONS/ITEMS ADDRESSED

LEASE RENEWALS

VACATE

Initially heavy communication

ODD TENANT ISSUE *ARREARS

RENT REVIEWS

*We maintain a zero tolerance policy Tapering off

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BOURKES COMPETITIVE EDGE 1. We Guarantee our Service

a) If you’re not 100% satisfied with our service, you are able to exit your authority at any time, no notice required with no penalties. b) Guarantee prompt communication.

Return phone calls—your phone call returned within 1 business day or we will grant you a complimentary property inspection.

2. Experienced & Stable Property Management Team (combined approx 70 years)

a) Kim Austen (15 years in industry, 4 years with Bourkes) b) Dominique Parisot (15 years in industry, 9 years with Bourkes) c) Marie Corrignan (8 years in industry, 6 years with Bourkes) d) Joeanne Adams (9 years in industry, 1 year with Bourkes) e) Davina Morton (16 years in industry, 1 year with Bourkes) f) Doug Fabian (7 years in industry, 6 months with Bourkes) 3. Latest Systems & Technology

a) Booking Software and Application Tracking System (Inspect Real Estate)

i)

Books inspection/home open for prospective tenants; Ii) Prospective tenant database with tenant matching system; Iii) Investor reporting—daily after each home open and weekly reporting showing performance, number of enquiries and rent lost over time; Iv) A system completely dedicated to the application process minimising vacancy periods.

b) Inspection Manager—more thorough, professional and comprehensive.

c) Accountants Collation software (Filesmart) emails end of month statement and copies of current invoices for that period.

4. It is our pleasure to support the wonderful foundations of the Red Cross, Salvation Army & the Esther Foundation.

5. Full time leasing assistant available to show properties before and after hours and on Saturdays.

6. Debt Collection Service—We employ Barclays MIS Protect & Collect to collect any rental debt that is not able to be recovered from the bond and landlord insurance.

7. We arrange landlord protection insurance.

8. Tenant of the month for impeccable property inspections and $0 rent arrears policy.

9. High profile exposure on busy highway.

10. Bourkes Awards a) REIWA Medium Residendial Agency of

the Year 2017. b) ‘Rate My Agent’ Como Agency of the

Year 2017 Award. c) REIWA Kevin Sullivan Award 2015

(Alan Bourke). d) Winners of REIWA Large Agency of the

Year 2013.

11. Members of Prominent Agents Network and the Leading Property Managers of Australia.

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WHAT HAPPENS FROM HERE? Step 1

Our Business Development Manager, Kim, meets with you, appraises your property, explains our services and finalises paperwork and the authority to manage on your behalf.

Step 2

If your property is vacant our dedicated Leasing Manager, Doug Fabian, will arrange home opens, show the property to prospective tenants, takes applications, check references and recommends a tenant to you.

Step 3

Once the property is leased, your full-time Property Manager is then your ongoing point of contact for all aspects of management. They will be responsible for rent collection, property inspections, maintenance, rent reviews and so on.

Dom Parisot Snr Property Manager 0421 568 797

Joeanne Adams Snr Property Manager 0416 148 486

Marie Corrignan Snr Property Manager 0417 788 161

Davina Morton Snr Property Manager 0458 708 187

WE DON’T JUST TALK ABOUT SERVICE, WE GUARANTEE IT! •

Professionally appraise your property using comparable rental evidence from our own records, REIWA and www.realestate.com.au

•

Qualify prospective tenants, check all rental references and let you make the final decision

•

Fully and accurately document the lease and annexures

•

Pay the bond to the Bond Administrator

•

Conduct inspections of the premises quarterly (initial inspection 6 weeks after occupation)

•

Return all phone calls promptly

•

Pay new rental proceeds within 1 day of the end of each month

•

Provide regular feedback especially when the property is vacant

•

Keep you informed on the state of the rental sales market.

Everyone at Bourkes is committed to offering you the best possible service.

And we’re so sure of our team, that if we don’t perform in these areas to your complete satisfaction and we can’t remedy the problem, you’re free to tear up our contract and walk away.

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272 Canning Highway COMO WA 6152 9474 2000 | bourkes.com.au