PROPERTY MANAGEMENT - S E L E C T I O N -
WE ARE 100% FOCUSED ON GROWING YOUR PROPERTY INVESTMENTS A S S E TAG E N T S , A U S T R A L I A
www.assetagents.com.au
www.assetagents.com.au
MEET BYRON AND KATH Byron and Kath Miller are the founders of Asset Agents, a dynamic husband and wife team who for the last four years, have successfully helped home owners in South East Queensland, buy, sell and let property. Thanks to a history of successful business ventures over the last 20 years, in fields such as IT, finance, marketing and franchising, they have acquired a wealth of knowledge and expertise and make the perfect double act. It’s this combined experience which enables them to have a clear understanding of what’s required to achieve results in the real estate industry. Byron is a perfectionist and self-confessed workaholic who is 100% dedicated to achieving a successful outcome for his clients. He has excellent organisational and time management skills and is an experienced negotiator who works tirelessly to achieve the best possible solution. Byron is passionate about
Byron Miller Managing Director/Principal p: 07 5315 5411 m: 0435 493 661 byron.miller@assetagents.com.au
THE IMPORTANCE OF A GOOD PROPERTY MANAGER
attracting genuine qualified buyers for his clients and understands the emotions that are involved in selling. He is always keen to deliver above expectations and makes the pursuit of excellence his top priority. Byron lives and breathes property and is totally committed to achieving results. They say that behind every great man is an even greater woman. Kath is dedicated to achieving the highest possible standards in her position as manager of the agency trust funds and company finances and in her role as co-ordinator for settlements. Kath’s positive and outgoing personality allows her to combine the job of being a devoted mother of two teenage girls and the loving owner of a menagerie of animals, with her desire to help property owners enjoy a smooth and hassle-free real estate experience. Her solid understanding of industry processes provides everyone with reassurance and peace of mind.
Kath Miller Sales Associate p: 07 5315 5411 m: 0435 493 662 kath.miller@assetagents.com.au
Once you’ve bought an investment property, whether it’s for your retirement or part of your overall plan for a secure financial future, it’s essential that you appoint an expert to manage it for you. The costs if you don’t can be enormous. There are many skills which separate a good property manager from a bad one: •• Tenant Selection – Experienced property managers will ensure that only top quality applicants are allowed through the selection process. This avoids the risk to owners of ending up with poor tenants who fall behind in rent or damage your property. •• Regular evaluation of your investment – A service such as our regular Property Health Check, not only ensures that the structure of your investment is sound but also reviews comparative rents in your area and makes recommendations for increases in line with market trends. •• Property maintenance – This essential ingredient is often overlooked. Maintaining your property in top condition, including the exterior and garden, not only benefits you, but ensures that your tenants are happy and will stay long-term. •• Correct assessment of costs – It’s
A S S E TAG E N T S 2 I AU S T R A L I A
essential to establish at the very beginning, exactly what costs your tenant is liable for. For example, if your property has a pool, this is reflected in water usage and responsibility for costs such as this should be made clear from the outset. •• Management fees – Understanding the fees that are part of your management agreement is vital, however a top quality service will override any concerns you have over whether your property manager has earned their fees. Most reputable companies will charge around 8%. If you feel tempted by a lower offer, check out exactly what services this type of manager provides. •• Marketing - There are many advertising and marketing options available and a good property manager will make you aware of them all and any costs involved.
A S S E TAG E N T S www.assetagents.com.au
www.assetagents.com.au
AU S T R A L I A I 3
OUR CASE STUDIES
PEOPLE WE USE AND RECOMMEND
If there is one thing that sets a good manager apart from competitors, it’s the ability to stand back, see the bigger picture and then find a solution.
Having a list of approved tradespeople on call to maintain and repair rental properties is crucial. Because the references and qualifications of these tradespeople have already been verified we are able to call on them at short notice to attend any one of our managed properties.
Case Study 1
Case Study 2
Property A had been vacant for 7 weeks because the previous property manager described it as unliveable. Although we realised that in the state it was in this was probably true, it didn’t take much imagine to see how it could be easily improved. Over a period of only one week, we coordinated handymen, a pool guy and a gardener who brought it back to its former glory at a cost of only $1200. We then found a suitable tenant within 7 days. If the $1200 had been spent on fixing up the property in the beginning, the owner would have saved himself weeks of lost rent. Not only that, the maintenance should have been taken care of while the previous tenants were in place, highlighting just what a poor job the appointed property manager was doing.
Property B had been rented out at $375 for quite a while. Over a period of 12 months we increased the rent to $475 (in line with current market value). Over 5 years this works out to be an additional $26,000. That’s right $26,000! As an even bigger bonus, the $100 extra per week turned the property into a positive cash flow investment for the owner.
When you list with us, you know that only trustworthy and trained tradespeople will be allowed onto your property.
Case Study 3 The owner appointed us as property managers on the Friday. By referring to our database of already qualified and approved tenants, we were able to show the property to suitable tenants on Sunday and had it leased by Monday morning at a weekly rent of $800. The result? One very happy owner and tenant! •• Carpet Cleaning Richard
•• Life Insurance Bruce
0413947698
•• Corded Windows Wayne 1300 722 552
•• Painter Andy
0459510461
•• Electrician Juan
0468 454 381
•• Plumber Matt
0417 075 492
•• Finance Colin Mason
0449 899951
•• Pool Safety inspections Wayne 1300 722 552
•• Gardner Brenton
0424 755 122
•• Property Valuer Mark
0418 472 206
0413 153 861
•• Quantity Surveror Peter
07 3221 9922
0418 775 889
•• Safety Switches Wayne
1300 722 552
•• Handyman Lee •• Landscaping Tony •• Legal Stephen of Cameron Rogers A S S E TAG E N T S 4 I AU S T R A L I A
0434 298 498
••
Smoke Alarms Wayne
1300 722 552
07 5445 1213 A S S E TAG E N T S
www.assetagents.com.au
www.assetagents.com.au
AU S T R A L I A I 5
COMMON PITFALLS TO AVOID
THE SECURITY OF A GUARANTEE
There are several scenarios that you want to avoid when renting out an investment property:
A management guarantee means that choosing your property manager involves no risk.
Renting to friends without an agreement While this can seem like a good idea at the time as it saves you money in management fees, it only takes one little incident to spoil your friendship forever. Don’t rely on the good nature of people to look after your property. Their values may be vastly different from yours or their idea of a small party may not match your own!
Listing it as pet friendly* Pets are an important part of family life, however your property manager should ensure that any pets are only on approval of an application*. The prospect of a small poodle which is house trained, doesn’t shed hair and doesn’t bark is quite different from a tenant with 2 large Rottweilers who freely roam the house. It’s not that
Rottweilers are bad. You may just have a preference for such large dogs to be kept outside. A good property manager also ensures that tenants make an application for any birds or reptiles (some of which may require a permit).
Missing regular property inspections We know that it’s easy to become so busy with the rest of your life, that you skip your rental property inspections. This is a golden opportunity for a small problem to become a really large one! For that reason we recommend that you choose an agent who insists on regular inspections and who invites you to come along (if you are located within the region). It’s only by regularly checking the health of your property that it continues to be a good investment.
Performance Minimum Standard
Written rental appraisals Completed within 24 hours of request
Answer emails By end of business day or if received late in day, at the beginning of the next day
Routine Inspections
Answer return phone calls By end of business day or if received late in day, at the beginning of the next day Processing Applications for Tenancy Within 48 hours Tenant Selection Personal interview with applicants to ensure suitability Handling non urgent maintenance requests By end of business day or at beginning of next day Handling emergency maintenance Immediately or within 1 hour (depending on priority). Client to be contacted immediately verbally or written Bond Inspection after keys handed in Within 48 business hours Refund of Rental Bond 3 business days unless there are outstanding issues to be resolved with the Tenant
Minimum 3 per annum including documented suggestions for capital growth and income improvement (one page Property Improvement Report) Inspection Report sent to Client Within 48 hours of inspection Maintenance from Routine inspection Contractors arranged within 48 hours of instructions received Rent Disbursement into Client account Within 3 business days of period end date Account Statement Availability Online within 24 hours of Rent Disbursement Annual Portfolio Review Within 10 business days of settlement anniversary date If you you’re not convinced that we provided a superior level of service in the first 6 months we will return our service fees from that period back to you.
If the minimum performance standards outlined above are not being met by our property management team, you will receive one month free management service in the calendar month following the date of the written complaint. All complaints and disputes are to be in writing. A S S E TAG E N T S 6 I AU S T R A L I A
A S S E TAG E N T S www.assetagents.com.au
www.assetagents.com.au
AU S T R A L I A I 7
THE IMPORTANCE OF LISTS AND COMMUNICATION OUR OPEN HOMES As part of our strategy to attract a high level of interest in a rental property, at the open for inspection we place flags outside to attract attention and provide all interested parties who attend with a show bag of goodies containing information about the property. With other agents, all too often the interview process to apply for a rental property is intimidating and negative. We attempt to make ours as fun as possible, thereby attracting a greater number of enquiries and a better quality applicant.
Our database It’s important when searching for a tenant, to have an already established and approved database of applicants who are looking for a property to rent. This saves time and money as the credentials are already established and tenants can be contacted as soon as a property becomes available to rent. This database is also a bonus for buyers who are looking to purchase an investment property. Knowing we have an already established database which they can immediately tap into, reassures them about the security and potential of their investment.
Keeping in touch Communication is a bit of a buzz word these days but what it really comes down to in property management, is staying in regular touch with both your owners and tenants and keeping them informed
about potential inspections, repairs and price reviews. It sounds easy, but you’d be surprised just how many agents never keep in contact once they’ve secured a property listing. Even before a tenant is secured, we ensure that all applicants’ details are kept on file and a follow up is conducted to determine the level of interest and suitability for this or another property. Once a tenant is in place, we make sure we keep everyone in the loop. If repairs are required we request authorisation from the owner, before we proceed. We record all tenant names and contact numbers and advise them ahead of time of any inspections and renovations. We also provide feedback for tenants as well as owners after an inspection. It’s important to remember that although the property is owned by one person, it’s actually the home of another and this must always be respected.
A S S E TAG E N T S 8 I AU S T R A L I A
A S S E TAG E N T S www.assetagents.com.au
www.assetagents.com.au
AU S T R A L I A I 9
WHAT WE DO ABOVE AND BEYOND Whether you are listing your home for sale with us or allowing us to manage your investment property, we go out of our way to exceed your expectations and deliver an extra special service. As part of our property management service we pride ourselves on:
A COMPREHENSIVE CHECKLIST FOR OWNERS – PREPARING TO TENANT A checklist is a really easy way to determine just how much your property manager takes care of. The following items should be on every property manager’s checklist:
•• Our communication – professional and regular •• Our communication – professional and regular
•• Our availability – 24/7 no matter what the issue •• Our presentation – high standard, both at our open homes and in our marketing •• Our rental appraisals –fair but in line with market expectations •• Our Express Tenant Service – an innovative solution which finds new tenants quickly •• Our service guarantee - a no risk promise to deliver above expectations
•• Inspect and prepare appraisal of property •• List items requiring repair or replacement prior to occupancy •• Prepare contract and take high quality photos for property listing •• Contact existing database of approved tenants •• Advertise property in appropriate agreed locations – online and print/press
We don’t just collect rent – we’re Asset managers and we look after your property as if it was our own.
•• Present property at scheduled Open Home •• Review applicants, qualify and process •• Present tenant applications to owner for review (with recommendations) •• Approve tenant and complete application process
Once a lease is in place you can expect your property manager to provide the following: •• Itemised listing of property contents and condition at time of rental •• Signed and dated lease agreement •• Monthly statement of income and any outgoings •• Regular quarterly property inspection reports •• An annual Health Report to determine the state of your investment •• Advice on how to maximise your tax depreciation and deductions •• A written guarantee of performance A S S E TAG E N T S 1 0 I AU S T R A L I A
A S S E TAG E N T S www.assetagents.com.au
www.assetagents.com.au
www.assetagents.com.au AU S T R A L I A I 1 1
ASSETAGENTS experience the difference
We are 100% focussed on growing your property investments. Guaranteed! Asset Agents was established in Buderim, the heart of the Sunshine Coast in 2010 by Byron & Kath Miller. Through their collective service to clients, experience and dedication to the industry, they have developed one of the best property management systems in the country. A system that can adapt to market place trends and ever changing Tenancy Act Laws. With so many property management agencies in our local market it can be difficult to know whether you’re getting value for money and that your property is being managed to it full potential. At Asset Agents we pride ourselves on transparency and believe that honesty is the very best policy. So let us start that by saying we are not perfect… but we are much better that a great percentage of other local agencies. And that is very easy to say… so let us back our claim so that you can get a taste of how you should be treated by giving you a Asset Agents guarantee. Just one of our guarantees to you is: “If you you’re not convinced that we provided a superior level of service in the first 6 months we will return our service fees from that period back to you.” So there you go, you have nothing to lose. Making the move to Asset Agents is quick, simple & easy. Start by call us today on 07 5315 5411.