Sands Realty realise achieving a top return on your property depends on good management, which in return calls for specialized skills, training and of course, experience! Property Management is more than just collecting rent .We care for your property as if it were our own. In fact the business owners are avid property investors themselves and understand the importance of placing the right tenants in your valuable rental property. We understand property management and know our obligation is to make owning the investment property as stress free as possible for you. Such is our commitment to superior property management service
We suggest owners consider insurance coverage for loss sustained due to tenant negligence for additional peace of mind. Unfortunately despite our absolute best efforts we cannot control tenants 24 hours a day, 7 days a week nor can we control circumstances in their lives. A brochure and fact sheet supplied by ACE Insurance is included for your perusal.
How we promote your property
We recognize advertising takes thought to target the most qualified tenant for your property. In fact we believe tenant selection starts with how we promote your property and handle the enquiry. We will utilize a variety of techniques to attract the most suitable tenant to your property including:
- Rental List
- Internet Advertising with quality photos on:
- Our customized website www.sandsrealty.com.au
- And Realestate.com.au - Australia’s No. 1 Real Estate website
- For Lease Sign (optional)
- Personal handling and qualifications of all enquiries
- Personal meet and greet inspection with prospective tenants (under no circumstances will keys be handed out)
- 5 day per week inspections with viewing arrangements
Advertising Costs are included in the Management Fee – This includes a “For Lease” sign on your property, Window Card and advertising on our website as well as Realstate.com.au. Please note if you require your property advertised in the Weekend Bulletin for an “Open House Inspection” this will be charged to you at cost.
Exposure
Our office is located in the prime location of Market Square, Varsity Lakes. With our target client being the general Australian resident as well as National and International Bond University students. Our customized website, signage and extended business hours ensure your property is promoted 24 hours a day, 7 days a week.
How We Screen And Select Tenants
“We feel it is better to leave a property vacant than to take on a tenant who does not meet our stringent criteria”
Tenant selection starts at the point of promoting the property. Personal inspections allow the property manager to ask questions and assess responses. This process is then followed up by the formal application process, which includes:
Our Guide to completing the Application:
- REIQ Application for Tenancy completed by all tenants residing at the property and contributing to the rent. For tenants convenience this form can be downloaded from our website.
- Photo Identification and income details must be supplied prior to the application being processed.
- Verification checklist ensuring all details are supported with written documentation and confirmation emails or phone calls to confirm authenticity of information supplied.
- Tenants are checked via Tenant Referencing Databases – TICA
- Assessment of application.
- Client liaison before any application is approved.
The process is conducted in compliance with Privacy and Discrimination Legislation.
When The Application Has Been Approved
Once the application has been finalized a formal sign up appointment is arranged where all tenants are required to sign the tenancy agreement and pay a holding deposit of one weeks rent. On pick up of the keys and lease agreement commencement an additional payment of one weeks rent and the bond of 4 weeks rent is paid. This appointment usually takes 30 to 45 minutes and we request all payments are made as “clear funds” for obvious reasons. Our office does not accept bond transfers from other agents as that effectively means you only have one bond on two properties. We believe it is safer to have the full bond payment prior to the tenant moving into the property. Once the payment is made this secures the property for the tenant and ensures their commitment is genuine. We then lodge the bond to the Residential Tenancies Authority.
Before the tenant moves into the property a detailed condition report is completed with accompanying digital photos, which are printed and kept on file. All tenants are given the opportunity to go through the report with the Property Manager. Many tenants appreciate this opportunity. Our motto is “prevention is better than cure”. It is imperative we are in agreement as to the condition of the property at the start of the tenancy otherwise disputes are inevitable. Whilst this can be time consuming we see this as time well spent to protect your investment to the best of our ability.
A copy of the Tenancy Agreement and Entry Condition Report will be sent to you for your records.
How Maintenance is Handled On the Property
Considerable research occurs before any Contactors work on the properties we manage. Proof of qualification and insurance must be provided together with verifiable references. We own property so we know cheapest is not necessarily the best, the quality of the workmanship is most important. We look for a balance of good reliable Contractors who are competitively priced and pride themselves on being professionals in their field.
Tenants are requested to advise of any maintenance requirements in writing and can do so over the internet as well as directly to the office. Once we assess the maintenance we aim to contact you and advise of our intended actions. In the event of any emergency situation we suggest we are given the same spending limit a tenant would have under the Residential Tenancies Act, being two weeks rent. We would only utilize the spending limit on any one item if we deemed there was a threat to persons or property if we did not proceed. Naturally we would endeavour to contact you and advise you of the situation.
How Often We Inspect the Property
The Residential Tenancies Act restricts general inspection to 3 monthly intervals. We conduct routine inspection at three to four monthly intervals. You will be notified well in advance of the scheduled inspection to allow you the opportunity to accompany us on the inspection. A fully detailed report will be forwarded to you providing feedback and recommendations, if any.
How We Handle Tenants Who Don't Pay Their Rent
Once again our motto “Prevention is better than cure” is appropriate for arrears management. Tenants are offered three ways of paying their rent to save them time and give them the opportunity to pay their rent 24 hours a day, 7 days a week.
The methods are:
In our opinion these methods help eliminate rental arrears for our owners.
- Cash, Bank Cheque or Money Order (either in person at the office or by post)
- Direct Deposit in our Trust Account (bank details can be provided)
- Internet Transfer (again bank details can be provided)
In the event a tenant does not meet their rental obligations our processes are swift and you will be kept informed at all stages throughout the process. We strictly follow the Residential Tenancies Act and act as quickly as the legislation permits. At four days in arrears a reminder letter is forwarded to tenants. We then follow up by phone calls. The legal process commences once the rent is unpaid for 7 clear days. We ensure you are kept informed throughout when legal process starts. We attempt to use a consultative yet legislative complaint approach and if the need arises we will prepare and present a case to the Small Claims Tribunal to have the tenancy terminated.
Schedule Of Charges
Our Fees are dedicative of the sustainability of our service and key to providing exceptional tremendous service. Letting the Property - For every new tenancy, one week's rent plus GST
If tenants terminate the Lease Agreement early they are required to pay the letting fee and to service the smoke alarms
Letting Commission: One Weeks Rent + GST
Rent Collection Commission: 5.5% (inclusive of GST)
Management Fee: 2 % (inclusive of GST) TOTAL - $7.5%
Monthly Sundries: $4.95 (administrative expenses eg – postage, STD phone calls, fax transmissions and bank fees)