Property Management Services
Guide
Contact us: 07 55960055 www.nfn.com.au
16 Years of Service to our Local Community
Nerang First National was established in 1992 by Principal and Managing Director, Mike Gray. Today, it is the leading agency in Carrara, Nerang and the Gold Coast Hinterland, consistently earning a market share far in excess of its nearest competitors. The minute you set foot inside the doors of the business it’s easy to see why. Everything from the way the office looks, the way the people are dressed, to how you are greeted and the overall experience you have is so very different from a conventional real estate agency.
agencies in the state, endorsed as: • REIQ Queensland Agency of the Year
• REIQ Gold Coast Agency of the Year for 4 consecutive years
Our Mission Statement
To ensure that dealing with Nerang First National is always a positive and memorable experience for every client and customer, beyond their expectation ~ earning their loyalty, confidence and future business as clients for life
Best Practice: What Is It and How Do You Benefit?
Several years ago, the company took a unique step in agency practices to further ensure that the best interests of all its clients are consistently handled skillfully, proficiently and professionally at all times.
It’s all about that old fashioned and long forgotten philosophy of truly “serving” your client and customer. During the early 80’s when Mike began his real estate career, he recognised why public sentiment of the real estate industry was so low. Poor service, little if any training and outdated business practices were the norm for most practices. With that, Mike opened First National Nerang, with the aim of creating a specialist agency that provides a standard of service and communication second-to-none with skilled professionals genuinely committed to making buying, selling and renting a positive experience. The team rapidly forged its reputation as a dynamic effective agency, but it was only the beginning. The team has continued to lift the performance bar. The company has consistently been recognised by the Real Estate Institute of Queensland (REIQ) and its peers as one of the leading
“Many companies simply pay lip service to their mission statement and nothing is ever done about it” “Our people really do ‘walk the talk’. I suppose that’s one of the reasons we are one of this state’s leading agencies” Mike Gray
Managing Director Principal
It achieved Best Practice Accreditation. This requires all service provisions, systems, procedures and processes of the business operation to be in writing and rigorously assessed by independent Quality Assurance consultant’s to determine compliance with ISO 2000 Quality Assurance Standards. This means the business is in a constant state of review as we measure and monitor the effectiveness and proficiency of every aspect of the way the business operates. If an aspect of our property management is not as good as can be, then we change it. You know that your investment is in good hands, managed to a structured plan and cared for under a strictly controlled process
Absolute Written Guarantee of Services
Real Estate is an “essential service” industry, a profession entrusted with the primary wealth of the community, a responsibility we take very seriously. You have the right to expect and get the highest standard of care and attention for your investment property
“You have the right to expect and get the highest level of service for your property”
and for it to be a positive stressfree experience for our landlord clients - that’s what “great service” is all about! That’s why we give 100% and that’s why more than 70% of our new business is by way of referrals from delighted clients and customers. All of our investment property management services and performance commitments are backed by a Guarantee in Writing This gives our clients total peace of mind knowing that they have unconditional “hire and fire” control throughout the entire management period. Now that’s a guarantee!
Important Factors in Selecting a Property Management Team
Our people are well aware that the majority of investment property owners or “landlords” are not wealthy investors, they’re ordinary Australians with a plan for their future retirement and or family security. Most have a mortgage on their investment/s and are entirely dependant on the rent return from their investment to service that mortgage. But owners need a whole lot more from their agent than just the rent return. This guide is designed to explain the many services that we provide for our clients plus the processes and procedures which we strictly follow to care for our clients best interests. What’s more, you’re property is looked after by a personal team leader that’s fully aware of your unique needs, but - it’s a total team effort, so if anyone takes a vacation, the world doesn’t stop.
Trained Professionals The more knowledgeable our people, the better the results we produce for our clients. That’s why we invest very heavily in training all of our people.
Within the Gold Coast Region our team is well renowned for its active participation in training and education. Our membership of the Real Estate Institute of Queensland and First National (Australia’s largest Real Estate Network with over 500 offices) - gives us another big advantage. Constant sharing of ideas, knowledge and expertise between members plus the many additional resources, training and education opportunities are invaluable to our ongoing professional development. More knowledge, more skills means better results for you.
The graph below is from an independent survey commissioned by First National Australia of what owners look for when choosing a property management team. Competence, Expertise & Performance 15% Best Rent 17%
Presentation & Attidtude 17%
Reputation 13% Commission & Fees 12%
Honesty, Professionalism & Reliability 26%
We are not just rent collectors, we are a total property management service.
Where We Source Our Approved Tenants
Prospective tenants use several information sources in their search for a suitable rental property. In addition to our highly prominent and high traffic office location, the First National Nerang marketing
“We aren’t just rent collectors, we offer a total Property Management service”
in the top1% of independent websites in the world. You get the best possible internet saturation 24 hours a day.
programme ensures a broad marketing base to attract the largest possible volume of tenant enquiries.
Other Reasons 5% Office Profile 28%
Websites 53%
Newspaper Advertisements For Rent Signs 12% 2%
High volume of enquiries, means shorter vacancy times and quality tenants for your property
The Marketing Edge
Our in-house marketing department employs full time marketing specialists. With extensive use of almost every form of leading-edge technology available, clients receive affordable access to creative and genuinely effective advertising and marketing.
First National Nerang provides many unique advantages in addition to print media advertising, some which include: 1. Eight Internet Websites Your property is widely promoted on all of the leading Australian property websites. The key sites being: realestatecom, rent.com.au domaincom, homehound.com.au, firstnational.com.au and, our own high traffic website nfn.com.au 100% designed and managed inhouse and ranked
2. Weekly Email Bulletin Many sellers are looking to rent after they sell. A data base of over 2500 current and future buyers, sellers, investors, landlords and tenants receive weekly information on all new properties for sale and available rentals. The “Weekly Property Bulletin” also includes the weeks price changes, properties sold, open homes, properties rented and more. We don’t wait for the market to come to us - we go to the market.
3. Classified Advertising Another cost effective medium, utilising the Gold Coast Bulletin with a 60,000 plus weekend readership. A popular traditional medium for generating volume tenant enquiries. 4. The First National Network If a good tenant or seller is moving to our area from anywhere in Australia and New Zealand, there’s a good chance that we’ll be called on to help them. Referrals between over 550 offices Nationwide are a regular source of good tenants. 5. Landmark Office Location The largest quality pictorial window display in the most prominent CBD location in the region. It’s rare for any person looking to rent localy to miss visiting our office or browsing our property display. 6. Audio Property Lists If a prospective tenant doesn’t have internet access or doesn’t have time to call in for a hard copy vacancy list - no problem! They can hear details of all available properties for rent 24 hours per day by simply phoning in for our daily updated prerecorded audio list It’s a great service for tenants and a great back up to ensure we don’t miss any opportunity to find a good tenant for you.
“High volume of enquiries, means shorter vacany times and quality tenants for your property”
Getting Started
Showing Your Property to Prospective Tenants There is effectively two methods for conducting inspections of your property with prospective tenants.
1. Open Homes Depending on market demand and supply circumstances, we may elect to conduct an “Open Home” on select properties at set advertised times. Open Homes are always attended by a team member and secured once completed. 2. Private Viewings Once a prospective tenant is familiar with your property location and expresses an interest in inspecting, then an appointment will be made at a mutually suitable time with the prospective tenant and the property manager.
KEYS are NEVER given out to anyone other than approved tradespeople. Inspections are always accompanied by a Property Manager and we do not take holding deposits.
2. Qualifying Applications As with the banks, each applicant must provide us with a 100 point check, photo ID, proof of income, proof of employment, proof of current address past tenancy reference and personal references. 3. The Screening Processes Once ALL the above information is received, each person is checked against the National Tenancy Database (TICA). All references are checked, employment and income confirmed, past tenancy agents contacted. 4. The Final Say If the application passes the screening process, we CONTACT YOU, our client, to go through the applicants credentials and explain the screening results. Although we may make recommendations, YOU HAVE THE FINAL SAY.
Approved Tenants
Once a tenant has been selected the following procedures occurs: 1. Initial Deposit Once a tenant is approved they are required to pay a holding deposit equal to one weeks rental. 2. The Tenancy Agreement Their obligations are fully explained to them and they enter into a Residential Tenancy Agreement which is a legal binding document.
So we’ve received one or more applications to rent your property. Heres what happens next in strict compliance with our Best Practice procedures:
The Tenancy Agreement is a written contract between the landlord/agent and the tenant; it contains all of the necessary clauses and conditions and complies with the current Residential Tenancy Act.
1. Applications in Writing Every application must be in writing on extensively detailed prescribed forms. All personal information on each individual intending to reside in the property must be provided.
The lease ensures that the landlord and the tenant’s rights are fully protected within the scope of the law and meets all the requirements of the relevant legislation.
3. Accompanying Documents The tenant is provided with
Selecting the Right Tenant
“Referals between over 500 offices Nationwide are a regular source of good tenants”
an RTA Essential Terms and Conditions Booklet (17A) and our own Tenant information kit, to ensure that tare fully aware of their requirements and obligations during the tenancy.
An entry condition report is also issued which they are required to complete. If it is not returned within 3 days of access, they may invalidate their right to avoid responsibility for any issues effecting the property that may have pre-existed.
4. Bond and Access A BOND equal to 4 weeks rent PLUS a further one weeks rent in advance is in addition to the initial one week holding deposit must be FULLY PAID
The bond is forwarded to the Residential Tenancy Authority (RTA) and the total of two weeks rent in advance is held in our Trust Account for end of month disbursement to the client. The RTA hold the bond for the duration of the lease term. Full bond is also required with Landlord Insurance Policies.
Even though all agreements and lease documents may be signed, the tenant WILL NOT HAVE ACCESS to the property until the full bond and two weeks rent in advance is with cleared funds
Remedy Breach and Notices to Leave are promptly issued at the required legislated periods without fear or favour. To succeed with a Landlord Insurance claim, the Landlord/Agent must be able to clearly demonstrate that these notices were issued when they fell due, so that any loss is minimised. Every effort is made to ensure there is the least disruption to your income stream. Maintenance and Repairs All trades people provide us with declarations, proof of qualifications and proof of professional indemnity insurance and membership to the industry regulatory body. We do not ask trades people to pay a commission or kickback on work we place with them. This ensures your expenses are minimised. Routine Inspections When a new tenant is placed into a property an inspection is carried out 6 weeks into the tenancy to ensure that if there are any initial problems they are rectified at that early stage. Thereafter inspections are carried out every 4 months and a written report is sent to you after every inspection The report includes photos of any repair or maintenance items needing attention and comments on the condition and tenants care for the property. You have peace of mind knowing that your property is not forgotten by us after it is tenanted. We keep a good eye on the way the tenant is looking after your property, so that there are no avoidable unpleasant surprises Tenant of the Month A certificate for “Excellent Property Presentation” and payment history is awarded to the tenant of the month.
During the Tenancy Rent Arrears Management We follow up arrears DAILY not weekly. As soon as rent is 4 days in arrears, the tenants receive an SMS advising them of this. If not paid before the 7th day, telephone contact is made. Notices to
Landlords are notified when the award is presented. We think it’s important to recognise good tenants. Appreciation shown for their care of your property encourages them to continue doing so. Newsletters and Information First National Nerang produce hard copy monthly newsletters for both
“You have flexibility with your prefered payment frequency and prompt lodgement that you can rely upon”
landlords and tenants to keep everyone up to date on important legal and regulatory changes, a variety of relevant tips and ideas plus other interesting need to know articles and information. Landlords receive these with their monthly statement along with other regular email newsletters and bulletins for those that choose to subscribe. Keeping everyone continually informed of their rights and responsibilities makes for a better landlord/agent/tenant relationship Rent Collection and Payment Rent payments are monitored daily and controlled under the guidelines of the Residential Tenancy Authority (RTA) where appropriate forms and procedures are undertaken if tenant default occurs. All accounting, maintenance, owner and tenant history is managed by the latest and state of the art property management software programmes. We have numerous payment options for tenants including B-PAY, and direct bank debit. All rent received is directed to your ledger in our trust account and disbursed to your elected account electronically after the first business day of each month or fortnightly (mid month) if you prefer. You have flexibility with your preferred payment frequency and prompt lodgement that you can rely upon Statements You recieve monthly statements with all credits, debits and expenses clearly shown PLUS and end of financial year summary statement for your accountant. We make sure that you get to claim every deductible expense possible Vacating Tenants When tenants vacate, they are expected to leave your property similar to its condition when they moved in (minor wear and tear is taken into a consideration). No Bond is released until we are
completely satisfied with the condition of the property after the tenant has vacated and we have carried out an Exit Condition Report (fair wear and tear is taken into consideration) Rent Reviews and Market Value Appraisals Property value appraisals are also conducted on request at no charge. At the time of each lease new lease period either with the existing tenant or a new tenancy, we reassess the market rental value. This is done in consultation with you first. We make sure you are always receiving the maximum return on your investment.
As a Landlord: Your Rights, Options and Responsibilities Maintenance during the Tenancy A certain amount of wear and tear is unavoidable during a tenancy and we recommend a repairs and maintenance program which will ensure that your property continues to achieve maximum rental, attract quality tenants and suffer minimum vacancy periods. Consider the following guidelines and suggestions, some of which we can assist you to organise: • Budget to paint internally each 4 to 6 years • Re-Carpet every 8-10 years • Select good quality, hard wearing carpets in a dark colour with quality underlay • Paint throughout in a neutral colour (not white) and use good quality washable paint. • Clean gutters regularly. • Re-grout in kitchens and bathrooms to freshen appearance • Ensure that the property is secure, including window locks and all door locks • Have the exterior of the property professionally washed down annually to freshen up the appearance and give a longer life to paint work. • Have trees and hedges trimmed on a regular basis.
“We make sure you are always receiving the maximum return on your investment.”
• Initially one sets of keys to be supplied to the property manager. Additional keys will be required for each person named on the lease. • Any appliance/special instructions to be in writing and supplied to the property manager. • Notify your insurer that the property is now a rental property • Disconnect telephone and electricity • Ensure mandatory smoke alarms and safety switches are installed
You may also like to consider the installation of the following items (if not already in place) . • Exhaust fans above stove top and above the shower recesses • Door stops behind doors. • Antenna and possibly amplifier/ booster Door and window deadlocks Swimming Pools If your property has a swimming pool we suggest that you include an annual pool audit as well as monthly pool maintenance. The tenant would be responsible for the cost of chemicals required to keep the pool water in pristine condition. We would also recommend that we arrange to have the pool professional attend the property with new tenants to walk them through the care instructions for the pool between the monthly visits. .
Landlord Insurance Landlord insurance is highly recommended. Please refer to the brochure provided in this folder.
Our Team
This insurance covers you for loss of rent if the tenants defaults, malicious damage and more
Despite the best systems and procedures the worst scenario must be considered and we offer this service for your peace of mind. Our clients have policies with Honans Insurance, giving security, peace of mind and less stress with their Investment. Public/Legal liability insurance All landlords are required by law to hold public/legal liability for all tenanted premises. As managing agents we are required to hold a copy of the current certificate of insurance. Annual Pest Spray and Termite inspections The property owner is required to have the property treated annually for pests: cockroach’s ants and spiders. In addition to this we strongly recommend that the property be inspected on an annual basis for termites by a licensed and qualified termite/pest inspection company
Leslee Hall (LREA)
Senior Property Manager leslee@nfn.com.au
Debra Baumann
Property Manager debra@nfn.com.au
We look forward to the privilege of serving you!
Service Charges • • • • • • • • • • •
Management Fees with Landlord Protection Insurance 3% of the rent collected Management Fee with no Landlord Protection Insurance 3.5% of the rent collected Rent Collection Fee 5% of the rent collected plus GST Monthly statement /administration fee $5.00 per Statement plus GST Negotiation of lease renewal $49.00 inclusive of GST Initial Letting Commission Equivalent to 1 weeks rent plus GST Tribunal Appearance $55.00 per hour Newspaper advertising At cost only to client Routine Inspections & Reports At agents expense Court lodgement fees At cost only to client End Of Financial Year Statements for taxation returns At agents expense
Kathryn Graham(LREA)
Senior Property Manager Accounts kathryn@nfn.com.au
Leanne Treadwell Property Manager leanne@nfn.com.au
PROPERTY MANAGEMENT
Guarantee RETAIN THIS DOCUMENT IN A SAFE PLACE. AS YOUR MANAGING AGENT, WE GUARANTEE TO PERFORM THE FOLLOWING SERVICES:
We Guarantee 1. To establish the rental value of your property by comparing your property to similar properties currently let. 2. To interview all prospective tenants. 3. To check the references of all prospective tenants. 4. To ensure the tenancy agreement is completed in writing and signed for the protection of both parties. 5. To prepare a written inspection record of the property at commencement and completion of the tenancy. 6. To ensure a rental bond is lodged. 7. To check that rents are paid promptly in accordance with the tenancy agreement. 8. To carry out regular inspections of your property and provide you with written reports. 9. To account to you monthly in writing for rental monies collected. 10. To arrange repairs and maintenance according to your instructions and ensure they are carried out in a professional manner. 11. To pay all accounts on your behalf as instructed. 12. To inspect the property at the completion of the tenancy and refund bond monies only when the condition is satisfactory. 13. To review rents to market regularly. 14. To provide a written end of financial year report. Should we fail to provide any of the above services you are at liberty to cancel your Managing Agency Agreement or we will refund the last three months management and collection fees from the time you notify the Principal(s).
Owner Principal
Property Manager
Office
Address
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