Your guide to Property Management
Your
investment
property
is
a
precious
asset.
It
may
be
a
source
of
regular
income,
part
of
your
retirement
plan
or
an
investment
for
your
children.
The
last
thing
you
need
is
any
stress
or
difficulty
when
it
comes
to property management.
Some
landlords
choose
to
manage
their
own
property
while
others
use
agencies.
Finding
the
right
agency
is
important
and
there
is
more
to
property
management
than
just
collecting
the
rent.
It
is
a
long
term
relationship
and
it
needs
to
be
one
of
trust
and
professionalism.
A
good property
manager
will
maximise
your
property’s
net
income
and
will
ensure
the
condition
of
your
property
is
maintained.
Poorly
managed
properties
can
cost
you
thousands
of
dollars
in
loss
of
rent
and
other
out
of
pocket
expenses.
This
guide
outlines
some
of
the
procedures
and
methods
used
by
Chidiac
Realty
to
maximise
your
income
with
minimal
expenditure
and
give
you
peace
of
mind.
At
Chidiac
Realty
we
take
care
of
all
aspects
of
leasing
and property
management.
This
includes:
Why use a Managing Agent?
Residential leasing has become significantly more regulated. Don’t risk your
property or income by failing to adhere to procedures.
This is our day to day business, and our passion. We stay up to date with all
regulations and have vast experience with every kind of situation. Our job is to
help you achieve the best result when it comes to maximising the return on your
investment. And we know what works best.
Finding a Tenant
Finding the best tenants requires effective and
targeted marketing. How we do this for you:
- Tailored advertisements to suit your property
- Professional photography and written copy that
shows your property to full advantage
- Your property will be advertised on www.domain.com.au, www.realestate.com.au and www.rentfind.com.au. With over 90% of all
enquiries generated from these 3 websites it is an essential part of the
marketing campaign
- A ‘for lease’ board on the property where
permitted
Our leasing agents go above and beyond expectations.
Hard working and determined, they will arrange all of your regular open
inspections and after hour’s appointments when required.
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Selecting the Right Tenant
A good tenant puts you at ease and provides peace of mind that your
investment is being looked after. Our job is to find that tenant for
you. Our reputation is on the line so we follow a strict selection
process at all times.
All prospective tenants are required to complete a tenancy application form.
All prospective tenants undergo a thorough check of their rental history and current situation including employment details.
You can be involved in the tenant selection process. After screening
tenants and making recommendations we can give you the opportunity to
make the final decision. Or you can leave it up to us. back to top
Our Arrears Policy?
We understand how crucial the regular income from your investment property
is.
Tenants pay in advance so you receive your rent in full at the end of each
month. All tenants are informed of our arrears policy, which is transparent and
strictly enforced:
- Arrears reports are processed daily so we can track any overdue payments
- In extreme cases where tenants fall behind more than 11 days in arrears your
property manager will advise you of the situation and suggest the best possible
course of action.
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Our Inspection Procedure
We conduct three types of inspections: ingoing inspections, routine inspections and outgoing inspections.
Ingoing inspection: Conducted prior to the tenant
moving in. The inspection report identifies any repairs or maintenance
that may be required as well as any damage that may already exist. The
tenant is then given 7 days to review the ingoing report and make
comments following which they must return a signed copy to us. This is
kept on file during the entire tenancy.
Routine inspections: We find this an effective way
to prevent problems. It also helps maintain the integrity of your
property. The first routine condition report is conducted approximately 6
weeks after the tenant moves in and then inspections will be conducted
every 3 to 6 months after that depending on the tenant’s history.
Outgoing inspection: At the end of the tenancy the
condition of the property is compared with the ingoing report. Any new
damage is recorded on the outgoing inspection report. The tenant is
responsible for any damage, excluding wear and tear.
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Repairs and Maintenance
From time to time wear and tear may require repairs or maintenance to
be undertaken to various items or appliances on the property that are
not covered by warranty or insurance. We will monitor this and can
organise these works on your behalf. Using our network of qualified
tradespeople we are able to do so at very low cost to you.
You also have the option of setting an expenditure limit so that any
work that exceeds that limit will require your prior consent.
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Rent Reviews
You would be surprised how many investment property owners are
earning below market value for their properties. To make sure this
doesn’t happen to you we conduct regular rental reviews. We advise you
and make recommendations accordingly.
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Statements and Reporting
Communication is the key to smooth property management.
Each month you will be sent an itemised statement detailing the rent
received, any outgoings paid on your behalf and the amount transferred
to your nominated bank account.
At the end of each financial year you will be issued an income and
expenditure statement which will show the total income and expenditure
for the previous financial year. This statement can be provided to your
accountant to assist when lodging your tax returns.
You can also access past owner statements and previous income & expenditure reports online using our website.
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Outgoings Management
If you like, you can take advantage of our outgoings management. This
means we pay all your property outgoings on your behalf from the rent.
You will also receive copies of the paid outgoings at the end of each
month. Paid outgoings will also show on your income & expenditure
statement.
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Getting Started
Getting Chidiac Realty working for you is easy simply, contact one of
our experienced representatives on 02 9647 4303 or email us at admin@chidiacrealty.com.au
and we will organise everything on your behalf whether your property is
vacant or occupied and managed by another agent we will handle the
whole process making it hassle and stress free.
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