PROPERTY MANAGEMENT
THERE IS ONE REASON WHY PEOPLE INVEST IN PROPERTY - TO PROTECT AND GROW THEIR HARD EARNED WEALTH.
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RE/MAX Property Management
YOUR INVESTMENT WORKING FOR YOU Our goal is to increase your income and ensure your investment is working for you! We ensure you enjoy the highest possible rent by regular assessments that take into account current market rents of similar properties, area vacancy rates as well as the condition of the property, quality of tenants and length of tenancy.
At RE/MAX we start as we mean to end – Thorough, educated and detailed. Timely, responsive and helpful. The RE/MAX Regency Property Management Team is small enough to deliver a personalised service while still enjoying the cutting edge resources that are on offer by RE/MAX, the largest real estate company in the world. As RE/MAX Australia’s Property Management Team of the year, our landlords can rest assured they will receive professional advice and solutions from our highly experienced Property Management Team backed up by senior team members, business owners as well as a 40 agent strong sales team. At RE/MAX Regency we are well on our way to setting the benchmark for professional property management on the Gold Coast.
www.remaxgc.com.au
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PROPERTY MANAGEMENT SECURE YOUR INCOME
PROPERTY STATISITCS
MANAGEMENT
- Planning - Select the Best Agent - Competitive Marketing Analysis
GETTING STARTED
99.5% TENANTS PAYING RENT IN ADVANCE
- Sign Management Agreement - Set T.O.P.3 Plan - Insurance Details
ENGAGEMENT
99% MARKETING YOUR PROPERTY
- Set Inspections - Attract & Screen Prospective Tenants
TENANCY APPLICATION PROCESS
OCCUPANCY RATE
- Staging/Prepare Property - Professional Phptography - ‘Premiere’ Adverising - Matterport 3D Scan
800
INSPECTION & ENQUIRIES
TENANCY ENQUIRIES PER WEEK
- Tenant Selected - Move-In Date Confirmed - Tenancy Documents Actioned - Deposit/Bank Received
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TENANT APPLICATIONS PER WEEK - Smoke Alarms - Water - Corded Blinds Efficiency - Safety Switch - Council - Pool Requirements
PREPARE PROPERTY FOR OCCUPANCY
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COMPLIANCE
-Professional Cleaning & Carpet Cleaning - Lawns, Gardens & External Pressure Cleaning - Keys & Remotes - Pool Balance Report
RE/MAX Property Management
www.remaxgc.com.au
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MONTHS AVERAGE TENANCY
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Appraisal
Agreement
Appraisal
Property ready
Agreement
PROPERTY MANAGEMENT CYCLE
Advertising PROPERTY
Property ready
MANAGEMENT tenant
EVALUATE
Property management is often seen as a complicated process, due to legislation, liability and the risk associated. However, in order to provide you with the very best, hassle free, management and to ensure maximum income and optimal capital growth, we have simplified the property management cycle step-by-step. By focusing on each step individually many complications can be eliminated.
selection
tenant selection
EVALUATE Lease Agreement
Management
Lease Agreement
Management
Tasked with effecting quality control, team training, the monitoring and improvement of policies and procedures, but most importantly making sure that the team operates to the established minimum operating standards
PROPERTY MANAGEMENT MODEL At RE/MAX we have identified that there are a multitude of property management tasks. No one person has the ability or capacity to deal with every aspect effectively on their own. Historic models of property management have proven this to be true, often falling short in delivering effective solutions that keep the owner informed and deal with all aspects of property management efficiently and transparently. The 4 Quadrant Model of Property Management we have adopted and implemented in our office is a property management model that has reset the industry benchmark for effective, transparent and results driven property management. This model allows us to allocate roles to team members within the different quadrants to fully utilise their specific skill sets. With clearly defined procedures and policies each member of the team knows exactly what their responsibilities are. Each of the Quadrants has a different leveraging position, with respect to time and task allocation allowing for efficient workflow practices ensuring minimal movement between quadrants.
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Advertising
RE/MAX Property Management
Our leasing team is tasked with leasing properties in the shortest time possible to minimise vacancy rates and maximise rent.
Property management Leadership & Management
Property Management Property management Support &Leadership & Management Administration
Property Management Support & Administration
Property Management Business Development
Property Management Business Property Management Development Operations Property managers
All administration duties are handled in this quadrant. This includes all paperwork tasks associated withManagement Property leasing, routine inspections and Operations tenancy applications etc.
www.remaxgc.com.au
are positioned here. Each Owner has 2 dedicated the property managers whose sole responsibility is to “manage� the daily operations of their properties.
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PROPERTY MANAGEMENT PROCESS
Prior to locating a suitable tenant, we ensure that the property is ready for occupancy. It is important that the property is clean, safe and in good repair to ensure that the ingoing tenant is happy in their new home. Research has found that tenants who have positive experiences often stay longer and are prepared to pay more rent for a well-cared for property.
PROPERTY
During this process we will conduct an Entry Condition Report which is often referred to as a “snap-shot” of the property to ensure that the tenant keeps the property and leaves the property in the same condition “other than fair wear & tear”. We will also notify you of any issues identified by the ingoing tenant.
MANAGEMENT
Once it has been established that the tenant will be vacating at the end of their tenancy agreement, we begin further education, drawing the tenants attention back to the sign up appointment by conducting a ‘sign-out appointment’. During the sign out appointment the tenant is advised of what to expect during the exit inspection and given a full account of any funds due and payable prior to the end of the tenancy. The exit inspection is conducted and a full report given to both owner and tenant as to the condition of the property. The bond is never released until the property manager is satisfied that the property has been returned to the same condition as at the commencement of the tenancy (fair wear and tear excepted).
SUITABLE TENANT LOCATED
VACATE PROCESS
TENANT EDUCATION PROGRAM
LEASE RENEWAL PROCESS Approximately 3 months prior to the end of the tenancy agreement, we conduct a comparative market analysis for your investment property to assess what rent can be achieved should the tenancy be renewed. We then contact you to discuss the lease renewal process. Once it is established that the intention is to renew the tenancy, the tenants are offered a renewal agreement at market rent. The tenant is given 14 days to decide whether they wish to renew the tenancy. At the conclusion of this time either the tenancy agreement is renewed or (if an agreement cannot be reached and the tenant wishes to vacate the property) the property is re-offered to the market. The negotiation is usually done well before the tenancy ends (at least 60 days) to ensure there is enough time to find a suitable tenant prior to the property becoming vacant.
Prior to occupying the property, the ingoing tenants must attend a “sign-up” appointment where we highlight important areas of the Tenancy Agreement. During this time we discuss with the tenants what to expect during the tenancy, such as rental payment options, the frequency of routine inspections, how to report maintenance items and the general care of the property. These appointments usually take around 45 minutes. Once the tenant occupies the property we regularly communicate with the tenants to ensure that adhere to the terms and conditions of the tenancy.
RENTAL FUNDS PAID ON TIME
MAINTENANCE ORGANISED ROUTINE INSPECTIONS CONDUCTED
If any maintenance or repair items are identified during the tenancy, we will always notify you prior to actioning any requests. Maintenance and repairs are always carried out in accordance with your instructions and our regular tradespeople are scrutinised regularly for quality of workmanship and competitive pricing.
The in-gong tenants are educated to pay at least a week in advance to ensure payments are always received on time. If a tenant does not comply with this request we follow up with contact the day after the payment is due to ensure that the funds are recovered promptly. 99.5% of our tenants comply with our Rental Payment Policies.
During the tenancy it is important to conduct regular inspections to ensure that the tenant is looking after the property and to ensure that the property does not require repair. Whilst many agents will conduct the maximum number of inspections allowable under the act, we find that by placing more emphasis on the type of tenant selected to occupy the property, we do not need to inspect the property as frequently. This makes for a happier relationship between the tenant, agent and owner, as the property feels more like a “home” and less like a “rental property”. Usually inspections are conducted every 4 months. Tenants are educated to report any minor repairs during the Routine Inspection, rather than at irregular intervals during the tenancy. This ensures that these minor repairs can be dealt with at minimal cost to the owner. Often it is not the repair itself but the callout fee for a tradesperson that is the larger expense. By grouping minor maintenance items together the owner may potentially only have one callout fee for several items.
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RE/MAX Property Management
www.remaxgc.com.au
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MAXIMISING INCOME
TOP PLAN
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The goal of any investment property is to maximise the net income while simultaneously minimising the risks associated with legislative landlord responsibilities and maintenance. At RE/MAX Regency we understand that your investment property is a precious asset and by helping you maximise the income and minimise risk, we help ourselves. Ultimately, your success is our success. At RE/MAX Regency, we achieve a top income for our landlords by maximising the property’s occupancy; this is crucial. The bottom line is that if the property is vacant you don’t get an income and neither do we. Vacancies occur when either the lease agreement isn’t renewed or we acquire your property as a “new” vacant investment. Our goal is to reduce or eliminate these periods of vacancy by having a successful T.O.P3 Action Plan. The T.O.P3 Action Plan entails having market specific strategies around: • Timing – knowing when to start advertising the impending vacancy. • Opportunity – taking the opportunity to review the rent, get critical maintenance done and confirm that the property is compliant with all the required legislation. • Presentation – ‘attractive properties attract tenants’ often doing small cosmetic enhancements can result in higher rentals and lower vacancy periods. Our professional photographs help us reflect your property in the best possible way to prospective tenants. • Promotion – this entails tailoring an advertising strategy to suite your property. • Price – assessing current demand, comparable properties and the condition of the property allows us to achieve the maximum possible rent for your property without sacrificing vacancy rates.
PROPERTY
3 KEYS WE ATTRIBUTE TO OUR SUCCESS
MANAGEMENT
Attitude and Knowledge • Having a great attitude towards change means that we continuously strive to provide excellent service and improve our client offering; this combination results in unrivalled performance. We continuously attend training to be able to provide you current expert knowledge and advice on any real estate matter Complete Systemisation • Systemisation is not just procedures and checklists but a dedication to following them. Complete systemisation brings a sense of control, reduces stress and easily allows anyone in the team to attend to your property. • We are continually evaluating and improving our systems to achieve and exceed industry standards for arrears, vacancy rates and achievable rents. Expert Knowledge (Leading to true value) • RE/MAX is not just a property management business; we have over 40 sales agents and are one of the largest sales agencies on the Gold Coast. This means that we have a wealth of expert knowledge on almost every suburb on the gold coast. • We also strive to provide value outside of property management and sales to this extent we now have both an independent in-house solicitor and finance broker who are on call to give our clients advice on their area’s of expertise.
If you as an investor want a Top income you’ll need a T.O.P3 Action Plan; with the Property Management Team at RE/MAX Regency implementing the T.O.P3 Action Plan for your property you can rest assured that your investment is safe in our capable hands.
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RE/MAX Property Management
www.remaxgc.com.au
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