What do we do for our management services?
Our agency manages the tenancy relationship and relevant tenancy matters on your behalf.
Below are some of the main services we carry out on your behalf as your managing agent;
• Showing your property
o Organising inspections to show the property to prospective tenants
• Advertising your property
o Using resources such as real estate websites and our in house agency ‘rent list’
• Processing tenancy applications
o Verification and assessment of the tenants ability to pay rent and ability to care for the property
• Lodging rental bonds to the Government Authority (RTA) on your behalf
o It is a legal requirement that rental bonds paid by a tenant be paid to the RTA (Residential Tenancies Authority) within 10 days of monies being received. Bonds can be no more than 4 x the weekly rent if the rental weekly value is $700 per week or less. If the rental property is over $700 per week, the bond total amount is not limited and is negotiable between the parties.
• Completion of the required tenancy documents to commence the tenancy on your behalf
o The RTA Form 18a – the General Tenancy Agreement
? This must be given to the tenant prior to monies being taken
o The RTA Form 1a – the entry condition report
? One copy must be provided to the tenant on or before the day they take possession. The tenant has 3 days in which to sign and return a copy with any additional comments. We will forward a copy to you for your records and discuss any matters if applicable.
o The RTA Form 17a – the Information Statement
? A useful resource booklet provided by the RTA that we on your behalf a required to provide to tenant when giving the agreement for signing (a copy is provided as part of this proposal package).The booklet is required by law to be given to tenants when the agreement is given for signing.
o Body corporate by-laws (if applicable)
o Trust account receipt for rent and bond monies paid
o RTA Form 2 – bond lodgement form
• Accounting on your behalf
o Payment of invoices for maintenance and other instructed matters
o Disbursement of rental trust funds
• Rent arrears
o Daily rent arrears administration and monitoring
o Issuing of required statutory notices as required and if applicable
• Maintenance negotiation
o Notifying the lessor of maintenance (as per management agreement instructions)
o Communication with the tenant
o Organising a suitable contractor
o Providing a work order to the contractor
o Following up as required
o Payment of invoice
o Accounting to the lessor accordingly
• Tenancy renewals and negotiation
o Contacting the lessor to verify instructions such as to renew the lease or to provide notice to the tenant to vacate
o Making the renewal lease offer to the tenant
o Negotiating rent increases if applicable
o Following up the tenant
o Tenancy paperwork – a new Form 18a – General Tenancy Agreement
o Lodging bond increases if there has been a rent increase upon renewal
• Carrying out general routine inspections during a tenancy
o Issuing the required RTA Form 9 entry notice allowing the required statutory time frame
o Carrying out the inspection
o Completing the best practice inspection report and providing it to the lessor
o Following up tenants or the lessor as required and if necessary
• Carrying out the final inspection
o Statutory and best practice letter and procedure requirements
o Inviting the tenant to the final inspection
o Carrying out the final inspection to ensure that the property is returned in the same condition as it was found – except for fair wear and tear as per standard term 37 of the General Tenancy Agreement (section 188 (4) of the RTRA Act). There is no legal definition for fair wear and tear. It is important to consider and take into account what will occur at the property with normal living conditions. The property may not be kept in the same condition as it was when it was first rented and as you have last seen it as over a period of time usual aging and deterioration will occur. Our reports will keep you informed of the properties natural progression and any matters that are deemed damage and not wear and tear will be discussed with the lessor, negotiated and managed by us with the tenant on your behalf.
37 Condition premises must be left in – s 188(4)
At the end of the tenancy, the tenant must leave the premises, as far as possible, in the same condition they were in at the start of the tenancy, fair wear and tear excepted.
Examples of what may be fair wear and tear –
wear that happens during normal use changes that happen with ageing
o Negotiating any outstanding items such as cleaning with the tenant that may be required to be undertaken to return the property in accordance with the entry condition report.
o Negotiating and coordinating the bond refund with the tenants in liaison with the lessor.
It is important to have an experienced property management team looking after your valuable real estate investment and we look forward to being of service to you.)
As our property managers are paid on commission they will rent your property quicker and for more money then the rest, as they are not just getting a flat salary with no incentive to go above and beyond.)
Annette Hall / Buderim
Steel Rudd / Mooloolaba
Nic & Jodie / Buderim