Your Guide to Property ManagementEffectively managing your investment property is a critical component to a successful, profitable investment. Many investors start out with enthusiastic intentions, but end up not having the time or the know-how to get the best possible return on investment. Elders M1, Property Management Services specialise in professional Property Management. Through our nationwide network, we currently manage over 50,000 properties across Australia and have a database of prospective tenants actively looking to rent right now. Our qualified, and experienced Property Manager will happily manage everything for you, from tenant selection through to rent collection, and everything in between.
Preparing your property for rent
Before you can rent out your property, you’ll need to ensure it reaches compliance standards, expected of all rental properties, and the frequently changing legislation in Queensland. Elders Property Management is up-to-date with all standards and legal requirements and will offer specialised advice so you can fulfill these obligations and attract quality tenants and a consistent, reliable rental income.
Management Authority Form When you choose Elders M1 to act on your behalf, you must complete an Authority to Act ass Managing Agent for Residential Premises before we can Legally start advertising and managing your investment property.
Property Inclusions In Queensland, to protect the safety of your tenants you’re legally required to install and maintain working smoke alarms, electrical safety switches, and pool safety fencing and gates. In addition, to help protect your property, and maximise your return on investment, we recommend you install exhaust fans in the kitchen and bathroom/s, door stops, window screens, air conditioning, TV antenna, and internet connection, deadlocks for windows and doors, quality floor coverings and provide bathroom/s and kitchens that are in good condition.
Keys You’ll need to supply three full sets of keys to us, including window keys, garage door keys/remotes and shed keys. One set of keys is held permanently at our office, and two sets are supplied to the tenants.
House and Carpet Cleaning To maintain a good standard of cleanliness, we recommend having your property (including the carpets) professionally cleaned before your tenants move in. By providing us with a receipt for our records, we can insist your tenant has the carpets professionally cleaned when they vacating your property.
Utilities and Mail Before your tenant moves into your property, you should disconnect any utilities that have been connected in your name. Your tenant will be required to reconnect the utilities before they move in. Likewise, if you have mail sent to your property’s address, you’ll need to organise a mail redirection order at any Australia Post branch. Or find out more here.
We’ll find the right tenant
Marketing To find the right tenant for your investment property, we’ll design a comprehensive marketing strategu to gain the most exposure and attract the maximum number of applications. We’ll list your property on the internet using popular and reputable real estate websites such as realestate.com.au and domain.com.au. We’ll scour our database of prospective tenants, and email the details of your property, including any coming open inspections. Your proeprty will also be featured on our Rental List, which is distributed to prospective tenants who regularly visit our office.
Tenant Selection Elders M1 has perfected a stringent tenant selection process. Our tried and tested process ensures we find quality tenants for your property and ensure the best possible return on your investment. This involves:
* Guaranteeing prospective tenants meet our 100-point checklist and complete the full application procedure.
* Accepting tenancy application forms only after a property has been inspected to avoid any confusion.
* Thoroughly analysing the application and verifying information, such as employment, and financial details, personal and employment references, and previous rental history.
We generally shortlist applications to between one and three prospective tenants, and provide you with our professional recommendation so you can make an informed decision.
Once a successful tenant has been selected, we commence the relevant paperwork on your behalf, including the residential tenancy/lease agreement and a written property condition report, and collect bond and first rent payment, then issue the keys. We then continue the on-going management of your property, which includes collecting rent,, conducting rent reviews and property inspections, organising repairs and maintenance.
Our Management Promise To You
Rent Your tenant pays two weeks rent up front when they initially move in, and are asked to maintain this throughout the tenancy., using one of our easy and convenient payment options. Our system immediately advises us if a tenant falls behind in their rent, and we use a variety of methods to communicate with them to issue reminders and follow-up on payments.
Rent Reviews We regularly review the current rental market to maximise the ongoing profitability of your investment.
Inspections Inspections are carried out before, during and after your tenant’s tenancy period. A detailed Entry Condition Report is carried out before the tenant moves in, with photos if necessary. This report is used for comparison when the tenant leaves, to ensure the property is returned in the same condition. We also undertake regular routine inspections throughout the tenancy to ensure the tenant is taking care of your property. You are welcome to attend these inspections if your choose.
Repairs and Maintenance When repairs and maintenance are required, we’ll liaise with you and your tenant, provide our recommendation to you and, upon your approval, we’ll organise licensed and insured tradespeople to carry out necessary work. We’ll personally inspect any major repairs and report back to you. We also issue you with a recommended schedule of routine maintenance to keep your property at peak condition to maximise your rental income.
Additional Services to Help Along the Way
Insurance We can recommend Landlord Insurance to suit you, and your property, ask us about the options available to you.
Home Loans Mehmet Tavli has 15 years experience in assisting Landlords achieve optimum return on investment, by ensuring they have the best home loan product available to them via his Yellow Brick Road Business.
Financial Planning Mehmet may be able to help you grow, and create financial freedom by increasing your property portfolio, and create wealth. Contact Mehmet for a confidential chat.