The Ray White West End property management Service is Investor focused. Our business is Property Management and our focus is our client, the Investor.
There is a lot more to Property Management than just letting a property and collecting the rent. Ray White West End provides our clients with a comprehensive, professional, proficient service with the industry knowledge to ensure their property portfolio performs and is trouble free.
When renting a property, particularly in a soft market, it is important that a property appeals to a broad range of potential tenants and is marketed correctly to attract the right tenant.
When advertising a property Ray White West End ensures it is professionally photographed and feature listed on realestate.com.au along with listings on domain.com.au, rent.com.au and six other real estate portals.
A well-presented feature property on average will receive twice the amount of views and 1.7 times more enquires, which could be the difference between letting the property at the right rent in week one or letting it at a reduced rent in week three or four.
It is also important that a property is advertised at the right time. Advertise too early and you could end up on the second or third page of the search results by the time the property is actually available. Advertise too late and you could end up with an unnecessary vacancy.
Ray White West End recommends advertising no earlier than three or four weeks prior to the available date, as most tenants are looking to relocate within a two week period and this ensures your property remains prominent in the search results during the period of time where potential tenants are actually looking to move.
It is no longer enough for an Agent or Landlord to just make a property available for rent and it will rent. Tenants have flexibility and choice. It is important that a property presents well and has the right ingredients to attract the target tenant.
When renting a property for the first time it is important to consider the core elements which tenants are looking for in the target price range.
Speak to Ray White West End now about getting your property ready for the rental market.
Before a tenant moves into a property it is important that everything is in order and ready for the tenant to simply move in.
Professional Cleaning: It is important that a property is professionally cleaned prior to a tenant moving in and a receipt is made available. If a property is professionally cleaned prior to a tenant taking possession we can ensure that when the tenant vacates it at the end of their lease, that the property will be professionally cleaned ready for the next incoming tenant.
Carpet Cleaning: With carpets, if they are professionally cleaned before a tenant moves in,, we can ensure that they will be professionally cleaned at the end of the lease term by an existing tenant.
Gardens: Gardens should be mowed, weeded and well maintained prior to the lease start to provide the tenant with a standard to maintain. Generally mowing, whipper snipping, weeding and plant maintenance is the tenant’s responsibility. Any maintenance that requires special equipment or is difficult to access due to height is the landlord’s responsibility i.e tree pruning & gutter cleaning.
Pest Control: To maintain a high quality investment property it is recommended that annual general pest controls are completed for ants, spiders, cockroaches etc. and regular termite and building inspections are completed by a registered contractor.
Appliances, Safety Switches & Smoke Alarms: It is important that the property is in good working order and that all appliances are checked to ensure there are no faults. As it is a requirement that all residential properties in Queensland must be fitted with a working safety switch, we recommend an electrician be engaged to ensure that the safety switch is working correctly.
It is also a requirement that all properties have smoke alarms installed in compliance with the Fire and Emergency Services Act 1990. Ray White West End recommends a Smoke Alarm Service company be engaged to manage, test, clean and service the smoke alarms. An annual smoke alarm subscription can be purchased for as little as $99 per year.
When a lease is first signed a tenant is required to pay two weeks in advance before they move in. It is common that a tenant will pay rent weekly and remain in advance for the term of their tenancy.
It is a misconception that a tenant must be two weeks in advance at all times. It is required under the RTA that a tenants rent is up to date at all times and a breach notice cannot be issued unless a tenant falls 7+ days in arrears. Though Ray White West End requests tenants be in advance at all times, we cannot actually breach a tenant for not doing so.
Ray White West End has a stringent arrears management system. A tenant will be contacted via text message and a phone call should their rent fall 3 + days in arrears. If a tenant’s rent falls 7+ days in arrears they will be issued with a breach notice and a plan arranged to correct the late payment. If a tenant fails to rectify the breach by not making payment of rent, we are permitted to issue a Notice to Leave and to proceed with eviction.
It is very important that the RTA legislation and guidelines are followed in regards to arrears management. The RTA and QCAT (Qld Civil & Administrative Tribunal) are very specific in their requirements of agents and landlords to follow the legislation to the letter.
It is important to note that the Residential Tenancy Act cannot be written out of in terms of the lease or its special conditions.
It is important to keep a property well maintained and in good repair to maintain your property’s value.
With regards to maintenance and repairs, the RTA basically split the responsibility between landlord and tenant as follows:
Maintenance, general wear and tear – landlord’s responsibility.
Damage / user error – tenant’s responsibility.
If, for example, a tenant was to report a faulty oven, but it was found that the timer was not set causing the oven to not turn on, the tenant would be liable for the cost of the contractor’s call out. If, however, the oven had a faulty element the landlord would be responsible for the cost of repair.
Similar conditions apply with regards to broken windows. If the window was broken by a ball or a rock being flung up by a mower, the tenant would be responsible for the replacement glass. If, however, the window broke as a result of a faulty hinge, building movement or a break in, the cost of the repair would be borne by the landlord.
Ray White West End encourages tenants to report maintenance, as sometimes a small issue can become a larger problem if not acted on promptly. We do understand that there is a balance that must be reached between reporting maintenance and excessive requests that we constantly work to manage.
Ray White West End has a wide range of contractors who we work with. All of our contractors are vetted to ensure they have the correct licenses, insurance and warranties in place. In most cases our contractors have been working with us for many years and have built up trust and confidence that ensures that any repair job is done right the very first time.
It is Ray White West End’s policy to inspect every property managed two to three times per year and report to the landlord, on the manner in which the property is being maintained.
A report is provided, with photos from our inspection, detailing any maintenance items brought to our attention and the condition the property is being kept in by the tenant.
Ray White West End does not provide tick & flick reports. We believe it is important that photos are provided to our clients to ensure they know the condition of their property and have photos of any concerns raised.
Under the RTA, Agents & Landlords are required to provide a minimum of 60 + days notice to a tenant, if a change of lease terms are required. This includes rent increases and terminations. We contact all our landlords 60+ days prior to a lease renewal to discuss options available and to provide recommendations on the lease renewal.
Ray White West End will provide a recommendation on increasing of rent, if the market allows, or a renewal at the same rent, if the market has not moved during the lease term.
Long term leases are becoming more common. It is not uncommon to have a 24 – 60 month lease, with pre-agreed rent increases in place. A long term lease can be favorable to both tenants and landlords. A tenant has security over their living arrangement and a landlord received certainty of rent over an extended term
Under the RTA a tenant can be charged for the water they consume. Tenants can be charged 100% of the water consumption charges on the provision of two requirements being met. Firstly, the property must be individually metered and secondly the property must be water efficient.
If a property is individually metered but not water efficient, we can charge the tenants for excess water used in a quarter – excess water being over 40KL.
For a property to be water efficient it must have a plumbers report certify that the property and its plumbing fittings meet a WELS rating of three stars or higher. WELS is Australia’s water efficiency labelling scheme which rates fixtures including taps, showerheads and toilets according to water efficiency – the more stars the better.
Water & Sewerage Utilities Accounts include two components: Water consumption charges and a fixed / access charge. If a property is water efficient & individually metered for water, we can request reimbursement of the water consumption charges from the tenants. However, under the RTA we are unable to charge the tenants for the fixed water & sewerage access charges.
Due to the RTA guidelines prohibiting the charging of fixed water & sewerage access charges to the tenan, the Water & Sewerage Utilities Account cannot be transferred into the tenant’s name. The account must remain in the landlord’s name.
To facilitate the reimbursement of the water charges by the tenants we recommend that landlord’s direct their Water & Sewerage Utilities Account to our office for processing and payment. Ray White West End will review the account, make payment, provide a copy to you with your statement and invoice the tenants for the water used or excess, whichever applies.
Rents are disbursed at the middle and/or end of each month, being the 15th or 30th/31st. If a scheduled disbursement falls on a weekend or public holiday the disbursement will occur on the business day immediately prior, to ensure there is no delays in the funds reaching your account.
Each statement issued includes details of the rent paid and for which period they relate, fees and charges associated with the management of your property and any expenses incurred on your behalf (i.e rates or maintenance invoices). A copy of the invoice will be attached to your statement for your records.
At the end of each Financial Year you will also be issued an End of Financial Year Statement detailing the total rent and expenses for the financial year. This document can assist your accountant in preparing your tax return.