Management Fees.

What does it cover? Do I need a property manager?

When looking for a real estate agent to manage your property, two questions will run through your head.

1. Should I manage the property myself?

or

2. Should I place my home with a real estate?

Our office would like to help our customers become more informed about your investment property and what’s involved with property management on a daily basis.

Below is what your management fees cover

1. Sending standard letters to contractors/utilities/insurance companies etc
2. Arranging keys for contractors/tenants and owners
3. Organising accounts for payment including;

– Water rates & consumption

– Council rates

– Maintenance

– Lawn mowing/gardening

– Strata levies

– Landlord insurance

4. Organising & following up maintenance repairs
5. Taking daily messages and returning calls promptly
6. Returning emails promptly
7. Rent reviews
8. Bond Top Up’s – To ensure your bond is equivalent to 4 weeks rent & ensure Pet Bonds are paid if a pet has been approved at a property
9. Tenancy renewals
10. Sending emails to tenants regarding rental payments
11. Sending Breach Notices
12. Sending Notices of Termination
13. Rental arrears control
14. End of month owner payout
15. Liaison with Strata Company Managers (if applicable)
16. Water Consumption Recovery from tenants
17. Correspondence
18. Liaising with Tradespeople
19. Prepare Rental lists
20. Internet/website uploads and updates
21. Managing agent instructions
    22. Managing agent authority renewals
22. Vacating tenants – Provide information to them on how to vacate and what is involved. Contact the owner to discuss and re-advertise the property for the owner
23. Landlord Insurance organising/Preparation & lodgement of claims
24. Lodgement of bonds with new tenancies
25. Following up on Interim Inspection Reports
26. Following up on Property Condition Reports
27. Preparing and carrying out marketing campaigns
28. Reconciliation of the Bond
29. Bank Reconciliation
30. Ensuring the property is up to date with the current Department of Mines, Industry Regulation Safety Legislation
31. Entering rents into software to ensure an accurate ledger is generated

Private landlords may feel that real estate is just taking rent and keeping track in a notebook. This could be no further from the truth. There are many legal aspects that can literally take years to learn.

There is so much to real estate property management.

Private landlords must also comply with the same rules and legislation as a real estate agent.

In real estate, property managers aren’t the decision makers when it comes to terminating a lease, renewing a lease or even placing a tenant into a home. We act on behalf of the owners and their instructions. Our office keep our clients up to date with where their tenant is at with rent, repairs and correspondence. It is then up to the owner to make the decision as to whether they wish to pursue something or ask our office to keep track of it until they wish to take further action.

Sometimes a great tenant can end up struggling, they may lose their job, there maybe a marriage/relationship separation – all of these factors can put pressure on the tenancy. We ensure we regularly check tenants rent and inform owners should we need to take any further steps.

We believe that it’s the way a property manager communicates with their owners, that ensures minimal loss occurs in an event of termination being required. It isn’t a property manager nor an owners fault if a tenant defaults but with the right landlord’s insurance in place it can definitely cover you for these events should you end up being in this situation.

Thank you for reading and should you have any questions please feel free to contact our office