Landlord Pack/Benlor Real State

TRUSTED NAME IN REAL ESTATE BENLOR LANDLORD PACK

Landlord Pack Everything you need to lease your investment

PROPERTY MANAGEMENT SERVICES

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BENLOR LANDLORD PACK

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CONTENT ABOUT US.

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WE HAVE ALL YOUR PROPERTY MANAGEMENT NEEDS COVERED.

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WHAT WE CAN OFFER...

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ADVERTISING AND PRESENTING YOUR HOME.

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PRESENTING YOUR HOME FOR LEASE.

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OUR TENANT SELECTION PROCESS.

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YOUR RENTAL PAYMENTS.

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KNOWING THE MARKET.

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INSPECTIONS.

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MAINTENANCE.

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LANDLORDS INSURANCE.

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COMMUNICATION IS THE KEY.

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PROPERTY MANAGEMENT SERVICES

About Us

For more than 60 years and three generations, our family has owned and operated Benlor Real Estate. We’re proud of our contribution to Geelong’s thriving residential and commercial property market. Our highly motivated team of real estate professionals all live in the area, offering invaluable local knowledge. We’re committed to delivering results beyond our clients expectations.

PROPERTY MANAGEMENT SERVICES

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BENLOR LANDLORD PACK

We have all your property management needs covered.

You want to be sure that you are dealing with experienced and ethical professionals.

Our team consists of hard-working people who are supported by regular training programs, the most up to date marketing information and state of the art technology.

Benlor Real Estate offers professional, dedicated team of experts who are experienced, well trained and well supported.

We believe that an investment property should not be regarded just as a source of rent, but as a valuable and appreciating asset.

By placing your property in the hands of Benlor Real Estate Property Managers, you will receive a total management service which will protect your investment and enhance its ongoing value.

The team at Benlor undertake regular training which consists of such information as the new legislation that we implemented on recently by the Victorian Parliament that will include over 130 new reforms. We keep updated regularly of all new changes to government legislation as well as receiving updates from Industry bodies.

A rental property is still one of the best investments you can make but managing a rental property successfully is a little like running a business.

There are incomings and outgoings that need to be balanced.

Tenant selection, rental collection, property inspections and dealing with tenancy lease breaches, are all processes which can prove to be expensive both in terms of time and money to owners.

Benlor Property Managers are fully qualified with the skill and knowledge of the every changing legislation and VCAT rules and regulations.

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PROPERTY MANAGEMENT SERVICES

BENLOR LANDLORD PACK

WHAT WE CAN OFFER...

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For Lease Board on the property.

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Advertise the property on key internet sites including the Benlor Real Estate website.

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Prepare a comprehensive Condition Report of the property along with internal and external photos.

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Prepare Leases in accordance with the Residential Tenancies Act.

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Lodge the security deposit with the Residential Tenancies Bond Authority.

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Deposit the first months rental payment and subsequent payments into our trust account in accordance with the Residential Tenancies Act.

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Show prospective tenants through the property.

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Thorough checking of all references on prospective applications.

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An accurate rental appraisal of your property.

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Qualified staff managing your investment.

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Regular statements detailing your income and expenditure.

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Annual statement provided for taxation purposes.

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Payments of water and council rates, if requested.

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Payments of other expenses relating to the investment property, where applicable.

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Direct deposit of the rental income into your nominated bank account.

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Qualified tradespeople attend to maintenance, where needed.

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Thorough routine inspections with written reports and photos every 3-6 months.

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Prompt attention to rent arrears.

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Appropriate action and representation through the Victorian Civil and Administrative Tribunal.

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Outgoing inspection upon tenants vacating the property.

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Speedy attention to any breach of the lease agreement or Owners Corporation guidelines.

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PROPERTY MANAGEMENT SERVICES

BENLOR LANDLORD PACK

ADVERTISING AND PRESENTING YOUR HOME. For lease boards.

We recommend a ‘For Lease’ board on your property.

This lets people living locally know that the property will be available. We often find that friends and family of neighbours are looking for properties close by.

Open for inspections.

Benlor offers accompanied private inspections as well as scheduled ‘open for inspections’ both mid week and on weekends, ensuring that we provide convenient times for prospective tenants to view the property.

Internet advertising.

Benlor receive numerous inquiries about potential rental properties from people moving to our area from interstate and oversea. By listing your property on our website, we are exposing your property to a worldwide market. We also features photographs of your property on the internet and this makes it easier for people to get a clear idea straight away whether the property is right for them or not. Benlor will also list your property on various portals such as realestate.com, domain etc..

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PROPERTY MANAGEMENT SERVICES

BENLOR LANDLORD PACK

PRESENTING YOUR HOME FOR LEASE. Here at Benlor we have seen many factors that can assist in a way that would make your home more appealing to more tenants.

Such as…

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Mowing the lawns, weed the gardens, cut any overhanging trees.

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Remove all rubbish surrounding the property, old wheels, fallen branches etc.

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Thoroughly clean all walls, doors and floors.

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Clean inside cupboards, drawers and benchtops, ovens etc.

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Check that all blinds and curtains are in good working order and are clean.

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Remove any cobwebs.

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Steam clean carpets and clean grout in showers.

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Attend to any maintenance that will require attention, such as dripping taps, door hinges, door stoppers,

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Finalise all your utilities in the property and redirect all post.

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PROPERTY MANAGEMENT SERVICES

OUR TENANT SELECTION PROCESS. •

Finding the right Here at Benlor we have seen many factors that can assist in a way that would make your home more appealing to more tenants.

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Our Property Managers provide quick responses to all enquiries about your property and will promptly organise an inspection. All inspections are accompanied with a staff member and no keys are EVER given out.

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By working with the prospective tenants on an individual basis we can review and assess briefly their needs and recommend appropriate properties. We believe that establishing a connection with tenants is just as important as with landlords, this will enhance their respect for your property.

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Benlor will complete a thorough background check on all applicants, tenants are required to provide 100 points of identification to confirm their identity and current address. Applicants are required to provide references from their past and current rental properties and with this information we are able to verify a detailed check on how they were looking after the property. We make sure that we check their employment information and ensure that the applicant has the necessary income and work stability to ensure a hassle free tenancy.

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Once all relevant checks are completed by the property manager will contact you to review the information so that you are able to select the best tenant for your property. Final tenant selection is made in consultation with you, the landlord.

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Once approved, Benlor will prepare a lease agreement in accordance with the Residential Tenancies Act and will arrange for the tenant to attend to our office to sign the formal agreement. A formal sign up procedure is carried out explaining all the documents and our expectations as their managing agent.

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A detailed Condition Report is prepared before the tenant takes possession of the property and a security deposit is paid and lodge with the Residential Tenancies Bond Authority.

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One months rent is paid in advance before the tenancy commences, please note that no keys are given to the tenants until all of the above is completed and paid.

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Finally the leases are signed either by yourself or by your Property Manager depending on your instructions and a fully signed copy will be provided to both the tenant and the landlord.

PROPERTY MANAGEMENT SERVICES

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BENLOR LANDLORD PACK

YOUR RENTAL PAYMENTS. It is our priority to make sure that the rental payments are made on time. Your tenants are issued with our Bpay details to ensure this happens. Tenants are given a choice of ways to pay their rent. We have an automated system that highlights any late payments and the tenant is immediately contacted to request immediate payment.

Under the current legislation we are unable to commence any legal action until the tenants falls over 14 days late.

We will proactively peruse the tenant for the payment in numerous ways.

Benlor has zero tolerance of rent arrears but if for some unforeseen circumstance your tenant falls over 14 days behind we will proceed with the formal notices and will guide you through what action should be taken.

This is where we highly recommend that all Landlord take out Landlords protection Insurance.

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PROPERTY MANAGEMENT SERVICES

BENLOR LANDLORD PACK

KNOWING THE MARKET. Here at Benlor Real Estate we have an extensive knowledge of the local market and are always kept up to date with changes that occur in and around the area that would benefit your property.

Thus with this knowledge we are able to provide you with regular annual reviews of properties within your vicinity, ensuring that your investment is always kept up to date with the local market.

All rent increases are discussed with you in detail and once approved will be forwarded onto tenants within the legislation which is a minimum of 60 days notice plus delivery time, this must always be provided.

With your approval Benlor will try to secure your tenant on further fixed term tenancy, however it is up to the tenant to decide whether they would like another lease. Your tenant can stay on a periodic month to month tenancy and will still need to adhere to the terms and conditions of their original lease that they signed. If not on a fixed term tenancy tenants are able to provide 28 days written notice to vacate the premises, they will also need to make sure that they continue to pay the rent up until the hand in keys.

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PROPERTY MANAGEMENT SERVICES

BENLOR LANDLORD PACK

Inspections.

Condition Report / Ingoing inspection.

This report is a detailed report showing all fixtures and fittings inside the home, this will include all appliances and simple wear and tear of the home. This report is done prior to a new tenant moving into the home so that when they move in they are given three days to amend, sign and return it to our office. Benlor will also compile with this report photos as evidence of the condition of the property.

Routine Inspections / periodic inspection.

At the start of every new tenancy we are able to inspect the property three months into the tenancy. This helps with getting a little bit of an idea as to how the tenants are maintaining the home and if there are any maintenance issues that they have found at the start of the tenancy. After this initial three month inspections all inspections are every six months.

All landlords are invited to attend the routine inspections, if you are unable to attend a full detailed report along with photos will be emailed out to you.

Vacating / Final Inspection.

At the end of the tenancy, once a tenant has handed back the keys your Property Manager will contact you to notify you that the keys are in and if you would like to come to do a final inspection of the property together. If you are not available, a full report will be given to you along with photos if need be. The initial Condition Report will be used when conducting the final if need be inspection taking into consideration fair wear and tear of the property.

Your property manager will liaise with the tenant if there are any issues that they will need to go back and rectify.

If your tenant is not able to resolve the issues then we will prepare the necessary paperwork to provide to VCAT and represent you at any hearings.

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PROPERTY MANAGEMENT SERVICES

BENLOR LANDLORD PACK

Maintenance.

Being up to date with the maintenance on your investment is a vital part in achieving the best return for your property.

Here at Benlor Real Estate we have an extensive list of fully qualified trades but we are also able to liaise with your own qualified trades should you wish to do so. We do not charge any additional fees for arranging this maintenance.

When a tenant reports maintenance, property managers look over the list to ensure that the maintenance is not a possible cause of the tenants misuse. If this is found to be the case, the property manager will serve the tenant with a breach of duty.

Urgent Maintenance.

The Residential tenancies act allows a tenant to spend up to $1800 on certain urgent repairs without the prior approval from either the landlord of the agent.

Such urgent repairs are: • • • • • • • • • • • •

Burst water service.

Blocked or broken toilet system.

Serious roof leak.

Gas leak.

Dangerous electrical fault.

Flooding or serious flood damage.

Serious storm or fire damage.

Failure or breakdown of any essential service or appliance provided by a landlord or agent for hot water, water, cooking, heating, or laundering.

Failure or breakdown of the gas, electricity or water supply.

Any fault or damage in the premises that makes the premises unsafe or insecure.

An appliance, fitting or fixture that is not working properly and causes a substantial amount of water to be wasted.

Aserious fault in a lift or staircase.

We do require all tenants to try to make contact with their property manager and your property manager will contact you should this occur.

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PROPERTY MANAGEMENT SERVICES

BENLOR LANDLORD PACK

LANDLORDS INSURANCE. Protecting your investment property, we recommend that you have the appropriate cover in place to protect you and your property should any problems arise.

There are different types of insurance that you must consider as a Landlord prior to renting out your property.

BUILDING INSURANCE. This is designed to cover the permanent fixtures in your building or house. This includes things like the roof, ceiling, walls, floors, doors, windows, fixed cabinets and cupboards. Additional structures such as sheds and pergolas are also generally covered but it’s best to check this with the insurer. Generally, your building insurance will provide cover for events such as, fire, storm damage, lightning strikes, breakage of fixed glass, earthquake, vandalism, impact from falling trees.

It’s important to remember that inclusions on your building insurance will differ depending on the policy and provider whilst some risks are optional extras which need to be added.

CONTENTS INSURANCE. This sort of cover normally covers such items as carpets, blinds and light fittings, for example if your hot water service bursts internally, you may be covered for wet carpets.

LANDLORD PROTECTION INSURANCE. Landlord insurance may come in handy to help cover you against some of the financial risks involved in renting out an investment property. For example, while many tenants will pay their rent on time and treat your property as if it were their own, it could be beneficial to insure against the worst-case scenario where a tenant does not pay their rent or causes damage to your property. There is also the risk of unforeseen disasters or events, such as fires and floods, that may damage your property and possessions.

PUBLIC LIABILITY INSURANCE. This covers you in the event that someone is injured or killed on your property, both your Building and Landlords also incorporate Public liability in their policies.

TYPE OF PROPERTY AND INSURANCE NEEDED. If your investment is a house you will require to have Building and Landlord protection insurance (and contents if not already covered by the Landlord policy) If your investment is a unit and you have an Owners Corporation, you will only need Landlord Insurance (and contents if not already covered by the Landlord policy). Your Owners Corporation have the responsibility to take out building insurance to cover the building, the cost of which forms part of your Owners Corporation fees.

If your investment property is a villa unit, duplex or townhouse within a small subdivision, you will then need Landlord Insurance you may also need Building (and Contents if not already covered by Landlord Insurance) you will need to check with your Owners Corporation to see if there is a Building cover in place.

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PROPERTY MANAGEMENT SERVICES

BENLOR LANDLORD PACK

COMMUNICATION IS THE KEY. Good communication skills are key to success in any working relationships, we find that giving regular updates throughout the tenancy makes the process a lot smoother and manageable. We also encourage landlords to reach out with any queries that you have.

LANDLORD STATEMENTS.

Benlor has the most up to date software that is able to demonstrate the income and expenditure of your investment property, making life a lot easier come tax time.

We provide a full report of which clearly states the following: • • • •

The rent that is due by the tenants.

Any instalments that have been paid out.

The period of rent covered by the payments received.

Any credit amounts received that get applied to the following months rent.

Any balance of payments will be distributed to the landlords nominated bank accounts via an electronic payments system and a copy of the landlord statement will be emailed along with any invoices paid.

At the end of the financial year a detailed report can be emailed so as to assist you with your taxation each year.

IF YOU ARE NOT HAPPY WITH YOUR CURRENT AGENT...CHANGING AGENTS IS EASY. Some landlords believe that a management cannot be transferred to another agent or the property was leased by another agency, however this is incorrect.

Standard Managing and Leasing Authorities are only enforceable during the specific time specified in the Authority. You have the right to choose who you wish to manage your property.

As soon as you contact Benlor Real Estate to manage your property and an Authority is signed, we will arrange everything for you.

Once we collect the file we will contact the tenant to advise of the change and make a time to view the property.

All this can be done within 24 hours of signing a new authority.

BENLOR REAL ESTATE UNDERSTAND THE VALUE OF A PROPERTY ASSET AND FEELS VERY PRIVILEGED WHEN A CLIENT ENTRUSTS OUR COMPANY WITH THE MANAGEMENT OF THAT ASSET. WE ARE COMMITTED TO PROVIDING THE BEST SERVICE AND PROPERTY ADVICE EFFICIENTLY.

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PROPERTY MANAGEMENT SERVICES

TRUSTED NAME IN REAL ESTATE

Sonia Jenkins

Property Manager

benlor.com.au | Suite 4, 190 Latrobe Terrace, Geelong West 3218

M: 0488 355 922 P: 5221 4484 E: sonia@benlor.com.au