MELBOURNE’S TOP RATED SPECIALIST PROPERTY MANAGEMENT OFFICE
Phone: 03 9276 5900 416 High Street, Kew, Victoria 3101 www.rentexchange.com.au
THE BENEFITS OF WORKING WITH RENT EXCHANGE • Specialists in management of residential property. • Directors actively involved in property management. • Rents are monitored to reflect market level and reviewed annually. • Dedicated property inspection team ensuring the condition of the property is maintained. • Specialist property managers ensure matters are dealt with immediately. • Rent Exchange continuously informs and communicates with landlords of any changes. • Rent Exchange makes sure tenants requirements are adhered to where required by the Act in an effort to maintain a balanced
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and harmonious business relationship. Fee savings due to system efficiency. Long-term investment security. Access to extensive tenancy database. Centralised property management service throughout Melbourne, with all accounting and administration in the one office location. Fully trained staff in property management alone. Staff not pressured by the need to sell property as per other offices. Customised computer software. One point of contact for all your properties. Sophisticated and accurate financial reporting, processing and banking systems. Up to date monitoring of lease expiry dates.
Get in touch with our friendly team to learn more about how we can help with your property needs.
CONSTANT COMMUNICATION Whilst members of our offices will be striving to lease your property, one of our experienced property managers will be overseeing the leasing of your property at all times. You will be kept fully informed as to your property’s progress throughout the search for a new tenant.
INITIAL STEPS
INSPECTIONS
Once you have engaged (see Leasing and/or Managing Authority) our office to lease your property, we will immediately contact any tenants on our database to inform them of your property becoming available. We will prepare a comprehensive property advertisement that will generate inquiry and have your property on the major internet websites within hours of listing your property with our office.
We hold open for inspections on Saturday’s and during the week. We will also make individual appointments to meet the prospective tenants personally at the property which gives us the opportunity of answering any questions they may have in relation to the property and most importantly gives us the opportunity of selling the benefits of your property. If you are still residing in the property or it is still occupied by current tenants we will confirm access prior to any inspection.
PRESENTATION A first impression is a lasting one so in order to attract the best possible tenant we strongly recommend that some time and effort be placed in presenting your property. • Ensure electricity is connected to the property • Mow lawns, weed gardens and prune overgrown trees • Remove rubbish • Dust and remove cobwebs • Clean walls, floors and windows
• Clean oven, cook top, bench tops, cupboards and inside drawers • Ensure blinds and curtains are in working order • Steam clean carpets • Ensure all light globes are working
TENANT SELECTION We always consult you prior to approving a tenant, unless you request otherwise as you ultimately make the final decision. We scrutinise all information provided by the tenant to ensure we are making an informed choice about who is moving into your property. We also conduct Credit Reference Association of Australia (CRAA) and National Tenancy database (NTD) checks if we consider it to be appropriate and verify employment details, income, rental history and references.
LEASE AGREEMENT
Our advertising recommendations are designed to expose your property to the widest possible pool of tenants.
We only use the Real Estate Institute of Victoria (REIV) approved residential tenancy agreements which protects both the landlord and the tenant along with our own special conditions in relation to breaking the lease, subletting the premises and any additional clauses required due to special features your property may have.
There is no doubt that advertising works in eliminating and reducing vacancy periods dramatically. Our information regarding advertising options is based on our statistics on tenant activity.
LEGAL REQUIREMENTS
ADVERTISING
All advertising is on an agreed basis prior to expenditure and is discussed as a key element in saving you time and money.
BOARDS Where possible we will erect a For Lease board which creates enquiry from the local community looking to move within the area.
Rent Exchange fulfil all legal requirements from providing the tenants with the Department of Consumer Affairs Rental Guide to ensuring the bond is received and lodged with the Residential Tenancies Bond Authority within the prescribed time. We provide tenant details to the relevant Water Provider to ensure that usage charges are billed directly to the tenant. (Provided that the property is separately metered). We act ethically at all times and have our Trust Account Audited annually by an independent auditor.
We scrutinise all information provided by the tenant to ensure we are making an informed choice.
We are involved in hundreds of rental appraisals every year giving us intimate knowledge of property prices in your area.
RENT ARREARS We monitor rent arrears on a daily basis and have an automated sms reminder prompting tenants. We notify our landlords if the tenant falls into arrears by more than 7 days and we act to recover rent payments in accordance with the Residential Tenancies Act.
LEASE RENEWALS We notify both landlords and tenants well before the expiry of the lease agreement to ascertain the intentions of both parties so that a new lease may be negotiated or the tenancy can continue on a month by month basis.
STATEMENTS
VACATING TENANTS
Our statements provide full details of the months transactions including the rent paid, dates paid to, any payments made on your behalf with copies of invoices attached. We transfer funds directly into the account of your choice and also provide a financial statement annually outlining all the transactions that have occurred during the financial year.
Should your tenant decide to vacate we will provide them with a cleaning and vacating guide together with a list of recommended cleaners to ensure a stress free exit for both parties. We will also liaise with the tenants in order to co-ordinate inspections for prospective tenants in an effort to minimise the vacancy period. We conduct a thorough final inspection at the conclusion of the tenancy to ensure the property is returned in accordance with our expectations and coordinate refund of the bond once our landlords are satisfied with the condition of the property.
MANAGING PAYMENTS Rent Exchange can manage the payments of your properties expenses from your rental income such as Council rates, Water rates, Owners Corporation fees, Insurance premiums and other property related charges saving you time and effort.
GENERAL ROUTINE INSPECTIONS Our policy it that a routine general inspection is carried out every six months in accordance with the Residential Tenancies Act to ensure that not only is the tenant maintaining the property in the prescribed and desired manner, but to also the ascertain that no urgent maintenance or preventative maintenance is required. We provide electronic inspection reports together with photos for every inspection performed.
CONDITION REPORTS In accordance with the Residential Tenancies Act we provide a comprehensive condition report including photos outlining the exact condition of the premises as at the commencement of the tenancy so that there is no confusion at the conclusion.
REPAIRS AND MAINTENANCE We are guided by you as to how you would like us to manage your property. In cases of non-urgent repairs we notify you of any issue and then either arrange repairs in accordance with your instructions or let you take care of the problem – it’s up to you. In the event that we are unable to contact you we undertake to ‘make it safe’ policy by instructing our trades people to take the necessary action to make the situation safe.
RENT REVIEWS At Rent Exchange we are involved in hundreds of rental appraisals every year giving us intimate knowledge of property prices in your area. We review each managed property rental yield annually with every effort made to maximise the rental return.
MARKET APPRAISALS At Rent Exchange, we are able to offer market appraisals and sworn valuations through our affiliated companies keeping you in touch with the property market and up to date with the value of your real estate investment.
INSURANCE It is of utmost importance that our clients have the appropriate insurance cover on their investment properties. The policy should include Public Liability, Building and Landlords Insurance. Landlord Insurance covers landlords for tenant related risks including loss of rent, landlords contents and loss or damage caused by the tenants. Landlords of Strata units should enquire whether owners corporation insurance is sufficient as in most cases cover only extends to the common areas. You should seek independent advice and ensure you read the relevant Product Disclosure Statement and Policy Information before taking out any insurance.
ADVICE With our many years of real estate experience we have developed an expertise to advise on all areas of real estate. Whether you are looking to rent your investment or buy an investment property we are able to offer sound advice and are able call upon our real estate network to provide facts and figures to reinforce our opinion.
TAXATION Owning an investment property has its tax advantages. We recommend that you consult a qualified taxation specialist in regard to your personal tax matters - however some areas that you should consider are; • • • • •
Property management fees Council rates Insurance Interest on loans Owners Corporation levies and charges • Cleaning • Pest control • Telephone
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Advertising Water rate Bank fees and charges Depreciation Repairs and maintenance Garden maintenance Inspection visits Postage and stationary
Whether you are looking to rent your investment or buy an investment property we are able to offer sound advice and are able call upon many our contacts or affiliated companies to provide facts and figures to reinforce our opinion.
RENT EXCHANGE Rent Exchange was founded in 1996 with the sole focus of providing excellence in the residential property management sector. We are proud to have established a reputation for being experts in the property management industry together with our reliability, integrity and ability to achieve the best outcome for our clients. At Rent Exchange, we are extremely conscious of the fact that we work for you. Our commitment to achieve the maximum rental figure and to work in close consultation with you at all times is the basis of our property management philosophy. There is a great deal of work involved in the leasing and management of your investment property and the enclosed is an overview of the various stages.
Rent Exchange are Licensed Real Estate agents and are specialists in property management offering a professional and personal management service.