Servicing Hornsby, Waitara, Asquith, Mt Colah and surrounds
We value your trust and are committed to making your life better, offering the highest level of service possible to manage your investment property.
Chris Hopkins | Principal & Licensee
Being a landlord can be fraught with danger. Picking the right agency with the right structures is more important than the individual agent.
Attracting tenants through correct pricing and marketing allows owners to choose the best of tenants, rather than the only tenant.
Using a thorough sign-up procedure minimises the risk of tenancies going bad. Starting out with the best possible property and a thorough entry report is also essential.
Regular inspections lead to better tenancies and consistent maintenance. Both lead to a superior experience for both tenant and landlord.
There are certain legislative requirements that are non-negotiable when it comes to being a landlord.
It is essential you have an accurate assessment of all fees and charges you’ll be liable for with your Property Management Service.
Even the word ‘landlord’ conjures up images of wealthy property owners lording it over the tenant! In reality, the residential property investor is far less protected under legislation than the tenant. Being a landlord is a task fraught with danger and challenges.
The most common management structure is the portfolio method. This involves a group of properties being managed by an individual property manager throughout the entire process.
There are two significant downsides to the portfolio method. Firstly, the skill and dedication of property managers vary greatly. Secondly, there is regular turnover amongst property management staff, an ongoing complaint from property investors.
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A property being managed by an exceptional property manager using the portfolio method is ideal; however, it’s the sub-standard property manager doing a poor job that can create problems.
This involves a number of property managers and staff being responsible for the management of a single property. Each manager is responsible for a different part of the process.
The strength of this method is the involvement of multiple specialist managers, reducing the incidence of property neglect and manager negligence. Also, there is continuity for the property, the owner and the tenant when a manager departs or is on leave.
Whenever hiring a property manager, the primary consideration is to find a good agency, regardless of which model they use. If an agency is chosen based on an individual manager, there is no guarantee they will be there long term.
Even good property managers move on from poor agencies eventually. By choosing an excellent agency there is a far higher chance of continuity for the landlord, tenant and property.
An agent can reduce fees. However, they have no alternative but to increase their income through additional fees or reducing their level of service.
When an agency reduces fees, property-to-staff ratios are increased and essential services such as routine inspections are reduced or even missed.
Other business initiatives such as up-to-date technology are put on the backburner.
A good property manager is worth a fair fee. The difference between a great agent charging a fair fee and a discount agent providing a discounted service is often only the cost of one coffee per week.
A poor agent can cost thousands in lost rent, trashed houses and increased stress levels, things that should never be involved in residential property investment.
People judge a property the same way they judge others; the first impression counts. To find quality tenants, a landlord needs a quality property. Clean, tidy and functional are all key.
The major real estate websites such as realestate.com.au, homely.com.au and domain.com.au have rental sections, along with numerous smaller sites. There is no need to pay an agent for advertising as the costs are spread across all properties an agent advertises. Don’t pay for a specific ad; agents should cover the cost of marketing and advertising.
The most effective strategy to finding the best tenant is to have a property priced at market value. That will get the pick of tenants currently looking and after advertising starts, they will generally apply within a few days. Although counterintuitive, a competitive rent will always attract a better tenant.
A competitively priced property will receive inspections and applications almost immediately, allowing the agent to sort through and pick out the best application for a landlord’s approval. Great tenants in a price range are snapped up by landlords with the best value property.
As Internet advertising provides price feedback almost instantaneously, it is likely that a property that remains vacant for over 10 days is overpriced. A small reduction of $10 or $20 a week makes a difference. It can move a property into a different range and begin to attract potential tenants almost immediately.
Overpriced properties will stay available for longer, losing income every day and increasing the chances of a poor tenant when one is eventually found. Landlords should move quickly and adjust to market price to find the right tenant. Vacant properties rack up losses quickly.
1. When advertising online, quality photos are important. They can be used for several years as long as the property stays in similar condition.
2. We will arrange to have enough high quality photographs to ensure your property is seen in the best light.
Inspections are offered by appointment in addition to traditional open homes. This helps our tenant selection process by allowing our staff to meet the prospective tenant on a one on one basis as they are shown through the property. Keys to properties are never handed out to prospective tenants.
We use an extensive seven-point tenant selection strategy:
1) 100 points of ID to confirm identity of the applicant.
2) A tenant history check through TICA (Tenancy Information Centre of Australia)
3) Income and assessment of affordability – including EQUIFAX check if needed.
4) Satisfaction the tenant is capable of paying the required rent on time, and within their financial means.
5) Reference checks on prior tenancies to determine if the prospective tenant’s rental history is of a satisfactory standard. Thorough checking of a tenant’s previous ledger if available.
6) Extensive character reference checks particularly for any tenant that has not rented or have been renting through a private landlord.
7) Finally, the application is submitted to the landlord for approval. As the property owner, you should always have the final say when selecting a tenant.
Once the tenants are approved to lease the property, they are provided a copy of the proposed Tenancy Agreement which is completed in accordance with Residential Tenancy Legislation. This agreement will outline the parties, the rental amount and any special conditions. A Pet Agreement may also be required for tenants with pets.
Once the proposed Tenancy Agreement is sent, the tenants can arrange payment of the first two weeks rent and four-week bond to secure their tenancy.
Prior to the move in date, the tenants will come to our office for an appointment to explain the expectations of renting the property as per tenancy legislation. This appointment is completed before the tenants move into the property so they have plenty of time to ask questions and understand the Agreement they are signing. This thirty minute appointment will cover what is required of the tenants during the tenancy.
The date the tenants take possession of the property and when the keys and Entry Condition Report are collected. The tenants will sign for a copy of all of their documents and a key register sheet is taken of keys and remotes provided to the tenants.
The beginning of any tenancy is the most important stage of the rental process.
Any outstanding maintenance should be completed and the property must be clean. Gardens surrounding an investment property should be kept to a minimum. Tenants will usually happily mow lawns but they will rarely be gardeners.
By fixing small maintenance issues, having the property professionally cleaned, including carpet, and a pest treatment done, the better the condition it will be in when handed back.
Set the standard for the tenant early.
Prior to the start of the Tenancy Agreement, we will complete a thorough property inspection and carefully document and photograph the property and inclusions prior to tenancy.
This report is used at the end of the tenancy as a comparison when the property is vacated. The Entry Report will be utilised to complete the Exit Report when the tenant vacates. The property needs to be cleaned and ready to go before the report can be completed.
We usually carry out four inspections throughout the year. Three are conducted as regular tenant and maintenance inspections, with one set aside for the owner to personally inspect the property.
After the regular inspections owners are provided with an electronic report along with photos that are emailed.
The regular inspections address the cleanliness and general condition of the property both inside and out. Unfortunately, at times tenants may present the property in an untidy condition. After such inspections’ a ‘Cleaning Checklist’ is provided and the items of concern are discussed.
A follow-up inspection is then arranged to follow-up and ensure that all the problems have been rectified.
The regular reports provided should be read thoroughly as they outline any maintenance issues that need either immediate attention or maintenance that should be done as a preventative to minimise future issues. All urgent maintenance is acted upon immediately.
Tenants will use our maintenance app or our website to report any applicable maintenance to our office, which can include uploading a photo for further information. This process is explained during the sign-up appointment.
Payment of repairs and maintenance is generally made direct to the supplier from the Landlord’s account at the end of each month and then detailed on the monthly statement. You will also receive a copy of the suppliers invoice.
Smoke alarms must be installed on all levels of your rental property in accordance with environmental and planning laws. You must maintain them to ensure they are working. Refer to Landlord Information Statement (March 2020) from Fairtrading NSW. We will recommend a contractor to ensure landlords fulfill their requirement.
The simple rule to observe for all equipment that is in a rental property is if it’s there it must work. If there is equipment that doesn’t work and will not be repaired, the safest and most effective method is to remove it.
Water usage can be charged to tenants on the following conditions:
1. Properties must be separately metered.
2. Complies with water efficiency measures as specified in the Landlord Information Statement.
Please note, only water usage charges can be passed on – not water infrastructure charges.
All properties with a pool must have a compliance certificate.
Although not a legislative requirement we strongly recommend landlord protection insurance.
While the simplest and most common solution is to add landlord protection insurance onto a current policy, this is not always the best decision. Landlord protection insurance policies vary greatly and not all companies provide the same cover. Many policies lack the necessary scope to fully protect an owner.
We can recommend specialist landlord insurance companies that offer strong and comprehensive standard cover. Just ask us for contact details.
Owners are provided with a complete comprehensive property management statement and any maintenance invoices within two days of the end of each month.
Net payments of rental funds are directly deposited to your nominated bank account via electronic transfer within two days of the end of each month.
We can attend to payments for accounts relating to your property such as repairs and maintenance, smoke alarms and landlord protection insurance. A pre-determined expenditure limit is outlined in your agreement.
You will be provided with a complete end of financial year statement to assist with taxation requirements.
1. All Inclusive Management Fee: 7% (+ GST)
Lease renewals, Regular Inspections, Owner Inspections, End of Financial Year Processing, Emergency Callouts
2. Letting Fee: First Weeks Rent (+ GST)
Marketing and Advertising, Inspections, Tenant Vetting, Lease Preparation, Sign Up and Tenant On-Boarding
For the preparation of a legally compliant Residential Tenancy Agreement
Other than those stated above; there are no other ongoing fees payable to Raine & Horne Property Management
Living in Qld for many years and owning a property in Hornsby I have had to rely on my Agent to take care of my investment. Over at least thirty years I have been very happy that my interests were always dealt with promptly and professionally. 100%
Karen Gillott
Raine and Horne Hornsby Team is awesome. They have rented our apartment quickly in slow market. Due to their extra efforts, we got amazing tenants. Highly recommended.
Manav&VinijaNarula
I am very glad to have chosen Raine & Horne Hornsby to manage my property. They were very friendly and more than happy to sit down and explain the details. They were able to find a tenant for me very quickly and I would recommend them to anyone who is looking to rent or rent out in and around the Hornsby area.
JinWang
Amazing and lovely agents. They found us a fantastic tenant 12 months ago at a premium rent and when they left this year, advertised once and another great tenant signed up on first day for a 2 year lease. Couldn’t be happier - best agents I’ve ever had the pleasure of dealing with.
This agency really has no competition as far as I’m concerned. I have been buying, selling and renting property for the last 25 years and have never come across a more professional team. The owners run their family business, well, like a family business - genuine service, genuine attention to detail all executed with honesty. I was very impressed by the speed by which my apartment in Waitara was leased. They are looking after my investment like it was their own. Well done team - like I said, you have no competition.
Paul Jones
The entire team from Raine and Horne Hornsby have been very committed to finding great tenants for our family home. They have gone to great lengths to ensure we get the right fit and that all our queries have been answered. Despite challenging times, they have gone above and beyond. Highly recommend them if you are looking to rent your home or investment property.
Elizabeth Noble