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Property Management
PROPERTY MANAGEMENT PROPOSAL
At JBT SELECT REALTY we take great pride in the level of service we offer to all our Clients. Listed below are the main aspects of our Property Management Division.
Security
All viewings of properties for lease are by appointment only and we accompany all potential tenants to ensure maximum security and the optimum opportunity to present the best features of the property. Keys are never handed to potential tenants for unsupervised inspections.
Investment Return
To avoid delays in finding a suitable tenant it is advisable to list your property for rent at a figure as close to current market value as possible, taking into consideration the following:
• Rent asked for currently available similar properties
• Rent obtained for currently leased similar properties
• Expected seasonal inquiry demand
• General inquiry rate for similar properties
Tenant Selection
As we show each prospective tenant through your property personally this serves as an informal interview, when questions about the property can be answered.
When a prospective tenant wishes to make application to lease the property, strict selection guidelines are employed before approving any tenancy application. Prospective tenants are handed a comprehensive questionnaire that provides us with a verification of:
• previous rental history
• landlord/agent references are checked
• employment references are checked
• income is checked
• personal and employer references are checked
• clearance from the Tenancy Information Centre of Australia (TICA) is obtained
These procedures greatly enhance the prospect of a suitable tenant being selected. At this stage we will contact you, the property owner, for approval of selection.
When an application has been approved the following steps will be taken:
• A Form 18a General Tenancy Agreement is completed. Any extra clauses may be added to cover specific requirements of the property owner or tenant
• A comprehensive entry condition report, including photographic records, is completed by us before keys are handed over to the tenant. The tenant is then given three (3) working days to check, sign and return the report to our office
• An inventory is prepared listing all remaining items in the property, noting their condition
• A bond calculated at four times the weekly rent, is collected before the keys are released. This bond is lodged with the Residential Tenancies Authority within 10 days of receipt.
• We encourage tenants to pay rent by Direct Deposit as this method of payment minimizes the likelihood of rent arrears.
On entry, the tenant is provided with:
• The Lease, 2 copies of the Condition Report and the Bond Lodgement Form
• List of guidelines for care specific to the property
• List of Preferred Tradespeople
• List of all local amenities, essential and emergency services
Included in our letting fee is a small gift of welcome to the tenant. It is a priority of the JBT Select Realty Property Management Team to treat our tenants with respect and to always provide friendly and helpful service.
Accounting
On the last working day of each month a statement detailing rent collected, itemised authorised expenditure and management fees is sent to you for your own records. At the end of each financial year an annual profit and loss statement is sent to you for taxation purposes.
The balance due to you is direct deposited into your nominated account on a
monthly basis.
Rent Review
If market conditions warrant, regular rent reviews are carried out at the end of each lease period in order to maximise your investment returns.
Routine Condition Reports
Our Property Management team will carry out a detailed condition report on your property every three months. Any maintenance issues will be dealt with promptly and reported to you immediately. Our preferred tradespeople are required to register their public liability insurance details and their qualifications, thus ensuring a professional standard of workmanship.
Insurance
Although our tenant screening and selection process is meticulous, problems can occur when changes in tenant’s circumstances, such as family breakdown, job loss etc. Accordingly, we advise all our Lessors to carry Public Liability, Building and Landlord Protection Insurance. These policies provide coverage against loss of rent and malicious damage to building and contents.
Tribunal Hearings
Small Claim Tribunal Hearings occur in rare circumstances. Our standard fee for Mediation/Tribunal Hearings is charged at a rate of $45.00 per hour.
Rates for Residential Property Management:
Letting Commission: First weeks rent + GST
Rent Collection Commission: 5% + GST
Management Fee: 2.75% inc GST
Monthly statement Fee: $5.50 + GST
Tenants vacating
To ensure that the condition of your property is maintained and a swift re-letting, we will advise you immediately when we are notified that your tenant is vacating, and discuss with you what you like to do.
• A review of the rental price is carried out.
• Marketing and promotion begins immediately.
• A bond inspection is carried out based on the Condition Report completed prior to commencement of the tenancy.
• The bond is refunded to the tenant only when we are satisfied with the condition of the property.
Property Appraisals
We can provide for you, at any time, a free of charge sales appraisal to ensure that you are kept aware of the current value of your property and market trends.
Preparing your Property for Rental
Please ensure that:
• An electrical safety switch has been installed
• Smoke alarms with new batteries have been installed
(requirements under the Residential Tenancy Act)
• All personal items have been removed from the property
• Manuals, Warranties and serial numbers for all appliances have been provided
• All appliances are clean and in good working order
• All light globes are in working order
• All carpets are professionally cleaned
• Ceiling fans, shower screens and tiled areas in bathrooms, door and window tracks, exhaust fans, tiled/timber floors and windows are clean
• Bathrooms are clean
• Windows are clean
• All curtains/blinds/verticals are clean
• All cupboards wiped out (including tops)
• Professional pest control (cockroaches & fleas) has been carried out if necessary
• The water tank is at least 50% full
• The gutters have been cleaned or gutter guard installed
• All rubbish has been removed from the property
• All gardens are weeded and lawn mown
• Sweep verandahs
• Remove oil stains from garage/carport/driveway
Under the Tenancy Act
• A key for all locks at the Property must be provided to the tenant and a set of keys to all approved tenants to gain access is required.
We also require a full set of keys to be kept in our office for use in case of
an emergency.
Areas for your consideration
• Tenants do not clean gutters. It would be to your advantage if we were able to organise the gutters to be cleaned regularly, thus ensuring clean water in the tank. Alternatively, a good gutter guard system could be installed.
• Garden maintenance included in the rent is often the best option – tenants are not often gardeners!
• Maintenance costs – we would need your authorisation of an amount JBT Select Realty could authorise on your behalf for necessary repairs, equivalent to two weeks rent.
JBT SELECT REALTY 'Sharing the Lifestyle'
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