The Letting Process
The marketing of your investment property and placement of a rental tenant is a responsibility the Property Management Team at First National Mandurah take very seriously. Using the extensive rental facilities available through our National Management Network, along with local based knowledge and media, you can be assured that our Property Management team will provide a high level of professional marketing and tenant selection to ensure your property has the best Management possible. Some of the keys to our Property Management process are detailed below:
- Extensive marketing of your property through our office network
- Weekly advertising of your property in the Mandurah Mail Newpaper - which is distributed free to all properties in the Peel Region.
- Your property will be uploaded onto not only www.mandurahfn.com.au but also on the following:
www.realestate.com.au www.rent.com.au
www.domain.com.au www.reiwa.com.au
- Answering enquiries and issuing application forms
- Conduct an unlimited number of personally escorted inspections of your property with prospective tenants
- Receiving application forms and required information
- Thorough application processing and screening of prospective tenants
- Preparation of a highly detailed multi-page "Property Condition Report"
- New tenant comprehensive induction/document signing and full explaining of the lease, inspection forms, bond forms, compulsory information booklet and main expectation before issuing keys
- Collection, banking and processing of initial payments by tenants
- The lodgements of the Rental Bond with Consumer Affairs - Bond Section
The Management Process
The Management of your property takes care, skill and dillegence, and the Property Management Team at First National Real Estate Mandurah take the responsibilty of Managing your asset very seriously. Communication is one of the keys to a strong and efficient Property Management role and you can be confident that your Property Manager will always keep you up to date with Management of your valuable asset. Likewise, your Property Manager will maintain close communication with your tenant to ensure that like you, your tenant is well informed and aware of the importance of looking after your home.
- All Landlord and tenant liasing
- Organising repairs and maintenance to your property
- Rent collection, receipting and banking
- Rent arrears control and tribunal action (if applicable)
- Electronic banking of the rent collected into your account. Payment of all your property outgoings/disbursements issuing monthly statements
- Reviewing rent levels and serving of rent increase notices. Liasing with landlord on re-letting instruction once tenant has notified they will be vacating
- Tenant issued with confirmation of vacating, with detailed final inspection expectations
- Final Inspection conducted and compared with ingoing inspection report
- Calculating and charging tenant water consumption
- Calculating any monies outstanding and collecting payment
- Finalising bond refund once all monies paid
Routine Inspections
Your Property Manager will conduct regular routine inspections of your rental property in accordance with State legislation and the Rental Tenancies Act. Tenants are well informed prior to the inspection and your Property Manager will update you with any areas of concern that may need your attention. Similarly, should your Property Manager feel that the property does not meet expections, they will advise the tenant and reinspect the property as required. You can be confident that your Property Manager will leave no stone unturned in ensuring your investment is well managed
- Issue the tenant with compulsory written notice of inspection
- Supplying the tenant with written expectations
- Completing a highly detailed room-by-room report outlining tenant performance, critcisms, repairs observed, concerns and recommendations for improvement to the condition of the property
- Re-Inspection of the property if required - if anything unsatisfactory
- Issuing report to client
Communication
Your Property Manager will be in regular contact with you, keeping you informed about your investment property. No tenant will be selected for your property without your Property Manager first discussing the application with you and no tenancy renewed without your approval. Your Property Manager will notify you immediately should your tenant give notice to leave. Should we be unable to contact you by telephone, we will forward written notification and await your reply before proceeding. If you have an email address, please ensure your Property Manager has that on file as we are finding email to be the quickest and most effective way to communicate with our owners.
Reports
A comprehensive Property Condition Report is completed by our Property Management team prior to the Tenancy commencing. The Tenant then has seven days to check the report, make any amendments and return the report to our office signed. Should this report not be returned within the seven days then no alterations will be accepted. The report is then photocopied with a copy to the tenant and the origianl filed at the office. You will receive Routine Inspection Reports throughout the year. Your Property Manager will conduct the first inspection six weeks after the Tenancy commences at the property and subsequent inspections are at three montly intervals.Accounting
Tenants' rental payment are received by cheque, cash or internet banking. All new tenants are given a tenant ID number with our bank details. Incoming rents are monitored on a daily basis and any arrears are acted upon quickly. All funds are accounted for through our Trust Account and financial statements are posted to owners at the end of each month. Funds available at the end of the month are electronically transferred to owners' accounts or forwarded by cheque. An End of Year Statement can be sent to you at the beginning of July for your taxation purposes. Our Property Managment team is happy to pay any relevant accouts on your behalf such as Council Rates, Water Rates, Insurance and Strata Fees etc.
Rent Arrears
First National Mandurah enforces a zero tolerance with regards to arrears, and your Property Manager will take all necessary steps to ensure tenants pay rent on time all the time. At First National Real Estate Mandurah, we have found that using the termination process instead of the traditional breaches, Property Managers have have seen a significant reduction in rental arrears.Maintenance
Maintaining your property is a vital part of our Property Management process and First National Real Estate Mandurah require that all trades people used by our company must have Public Liability Insurance, Workers Compensation and qualified in their field. Your Property Manager will discuss all maintenance matters with owners prior to undertaking work. When owners cannot be contacted, your Property Manager will authorize the maintenance depending on the urgency e.g. hot water problems, sewerage problems, a serious roof leak, a gas leak or electrical fault.Owners Responsibility
Keys
We request you supply our office with two full sets of keys for your property. One set in given to the tenant, the second set remains in our office.
Carpet Cleaning
It is a policy of First National Real Estate Mandurah that carpets and windows be professionally cleaned prior to placing tenants in your home. When tenants vacate they must provide receipts for carpet cleaning. it is also essential for the house to be completely cleaned inside and out, this will set the standard for the future.
Insurances
At First National Real Estae Mandurah, we require a copy of all insurances including Building Insurance - to protect against defined risks such as fire (including by the tenant), storm, water damage etc. Contents Insurance - to cover loss or damage of items belonging to the owner e.g. carpets, curtains, light fittings and blinds which are in the property for the tenants use. Landlord Protection Insurance - which provides protection against most tenant related problems such as malicious damage, as well as almost every loss of rent situation, some Landlord Protection policies may also include cover for legal expenses and legal liability. Landlord Protecion insurance is recommended.
White Ants
We recommend annual Termite Inspections at the property. Your Property Manager can organise this on your behalf.
Disconnections
Should you be vacating the property yourself, you must remember to disconnect the amenities including Power and Phone upon new tenancy. The Water accounts need to be kept in your name as you are still responsible for the water rates. Should the property be on bottled gas the account must remain in your name with the tenant responsible for the consumption only. Don't forget as well to redirect your mail - you do not want tenants receiving this.
Warranties / Manuals
To assist your tenants and ensure correct use of all applicances, we request a copy of all warranties and manuals for us to supply to your tenants.
