A Property Manager needs to have a comprehensive knowledge of the Residential Tenancies Act 1995 and Regulations plus associated legislation before they can hope to have a full understanding of what it takes to manage your property.
After we have been through the process of showing your property, receiving applications and assessing them you will, hopefully, select one of the tenants we present.
At last you have a tenant but the job has only just begun.
Lease / Bond
We now have to prepare all the documents starting with the lease and this will all need to be signed immediately. The lease needs to have any special conditions required, along with the normal variables of rent, method of payment, commencement date, agreement relating to payment of water charges, responsibilities for gardening and a host of other factors.
Once the bond is received it must be lodged on-line with Consumer & Business Services and all new identity requirements must be met to ensure straight forward release of the bond at the end of the tenancy.
An appointment is made with your new Tenant(s) at which time we explain their rights and responsibilities and sign all documents. We must make it particularly clear what is expected at our regular inspections.
Once completed, a copy of the lease is forwarded to you.
The First Inspection Report
This document carefully details the condition and state of repair of the interior and exterior of the property, including each room, the grounds and gardens and may include hundreds of photographs. Just producing this document can take many hours.
Once the Bond and first two weeks rent is paid we will arrange another meeting at the property to handover.
Other companies will ask your tenant to come into the office to pick up the keys and collect a copy of the First Inspection Report but we insist on meeting them at your property to ensure everything is in order and to complete the induction process and handover.
The Property Manager will give your tenant(s) two copies of the First Inspection Report completed earlier. They will be asked to confirm the accuracy of this document by doing their own inspection and to add any comments. One copy should be returned to us within seven days. The third copy is held by us and records the Tenant(s) signatures of receipt.
We will also hand over at least 2 sets of keys & remote controls which are documented and signed for.
In addition, we take an additional series of photographs on the day we hand over with the tenant present. It’s here that we take a last opportunity to see if there are any final issues.
Correcting the First Inspection Report
If we do not receive one of the tenant(s) copies of the First Inspection Report with any comments within 14 days we will send them a letter confirming that our un-amended report will be used at the Final Inspection when they eventually vacate.
If we receive one of the reports back with comments that may not be representative of the true condition of your property at the time of handover we may elect to challenge them and even do another inspection of the property to see if there can be an agreement reached. Any agreement like this must be properly documented.
Rent Payments from your Tenant, to Us and to You
The tenant is always required to pay the full amount of the bond and the first 2 weeks rent before they are given the keys to your property.
All future rent payments are made by Bpay into our Trust Account so we know they are up to date.
Then, generally on the last working day of each month, you will receive an email with your monthly statement. This tells you that rent was deposited into your nominated bank account. We can arrange more regular payments, if required.
Tracking Your Tenancy On-line
We now provide an on-line connection to this website for you and your tenant(s) that will enable you both to log on to do the following;
1. Find out when rent is paid up to
2. Find out when invoices for water are due
3. Report Maintenance or otherwise contact the Property Manager
4. Check lease expiry dates and other key lease details.
Each Landlord and Tenant are given a unique USERNAME which will enable them to access this website by creating their own password.
End of Year Statements
At the end of each Financial Year, we will email you a comprehensive statement listing payments and expenses for the entire financial year. It is a summary of each of the 12 monthly statements that you previously received, sorted into taxation codes, for you to pass on to your accountant for preparing your tax return.
Tax Information / GST
Taxation and Goods and Services Tax (GST) and claiming depreciation and other deductions are specialist subjects and we strongly recommend you speak to your accountant for professional advice on how best to meet your personal circumstances.