Landlord Information

Why invest in property?

Investment in property is one of the most stable forms of growing your wealth. Whilst markets change, and prices of property rise and fall, the cycle always continues. The key is to buy when the market is down, and sell when the market is up – this will almost always guarantee a return on your investment.

As an investment property owner, you want to know that your property or properties are being managed by a team of professional, ethical and caring people. This is what Property Place Agency strives to achieve for all of their investment property owners (Landlords). We can offer you a personalised service, from purchase through to finding a quality tenant who will treat your property as their home. We pride ourselves on quality of service.

Property management is an industry that undergoes legislative changes constantly, so it is important that you can be assured your investments are being managed by people who are informed and follow the right procedures to get the maximum return for you. Our Property Management team is fully trained in all aspects of property management and understand the obligation of landlords and tenants.

We have outlined a few key points for you to consider when choosing a managing agency for your investment property/properties.

Selecting the right property manager

Selecting the right property manager is one of the most fundamental decisions you’ll make and can make a difference not only to your overall returns, but also the enjoyment of your investment. Over the last few years, property management has undergone a significant transformation, from simply a rent collection service, to a dynamic investment management and service system. This changing scene has brought about the need to appropriately manage new legislation and the consequences to ensure fairness for both owners and tenants alike. This includes, in some regions, the Strata Titles Act, Residential Tenancies Act and deregulation of fees charged.

It is important to realise that together with the legislation comes a greater onus on owners and agents to follow the requirements of these laws. Now more than ever, it is prudent to ensure that your property is professionally managed by entrusting it to a manager who is trained, experienced and equipped to meet these ever changing needs.

Property managers work within a licensed Real Estate Agency. It is therefore the agency owner who is ultimately responsible for the property, so it is essential you choose a reputable name you trust when selecting the business for management of your property. It’s a big decision that creates a medium to long term working relationship and you need to feel comfortable with the company you’re dealing with.

Our property management services

Once you have entrusted Property Place Agency to manage your property, you will be exclusively authorising our agency to act on your behalf. We will then appoint experienced property managers, who will be responsible for the day to day management of your property and tenancy.

Your property manager will provide a range of ‘personalised’ services that all include:

Professionally screening and selecting tenants
Providing a detailed explanation of the owners/tenants rights and obligations
Receiving rents and issue receipts
Provide rent increase opportunities
Arranging for repairs and maintenance to the property
Paying of accounts such as water services and council rates
Processing any insurance claims that may arise
Exercising the owners/tenants rights to terminate leases and tenancies
Reletting the property at the end of each tenancy in the event of a vacancy
Preparing and checking the property’s inventory
Doing all such lawful things as may be directed by the owner in writing from time to time
Professionally and accurately reporting on the condition of the property at the inception, during and end of each tenancy with written reports that includes photos

Finding a tenant for your property

When you buy an investment property, or rent your home, it’s important to secure long term tenancies where possible to maximise the investment returns. As your selected agent, we will use all our experience, knowledge and data resources to find you a suitable tenant in the shortest possible time, who will treat your property as well. A good quality, long term tenancy proposition is far more attractive, than constant turnover in tenants.

OPEN HOMES – With the increasing demand for rental properties, your property manager may suggest opening the property at an agreed time to ensure a sufficient pool of candidates view and apply for the property at one sitting.

ADVERTISING – Your agent is constantly monitoring the best medium for advertising your property, for the purpose of attracting a suitable tenant and ensuring the best result for your dollar.

To ensure that your property is leased to the best possible tenant, your property manager will select the most appropriate medium to promote the vacancy, which may include website advertising, print media and office rental lists.

Your property may be advertised in all or some of the following:

Rental search websites
“For Rent” signboards
Office window displays
Brochures distributed from the agency
Email newsletters distributed to the agents mailing list
An accurate account for the advertising costs is submitted at the commencement of each new tenancy, as these costs are tax deductible.

Your responsibilities as the owner

Owning an investment property is one of the most popular methods throughout Australasia for acquiring wealth.

However, you’ll need to be aware of the sorts of responsibilities that you will have as an owner. The most obvious responsibilities are:

To provide the premises in a reasonable state of cleanliness and repair having regard for the age, character and prospective life of the property.
To comply with all requirements in respect of health, building and safety laws in so far as they apply to the premises.
If you are the handy type, you may wish to carry out some repairs and maintenance yourself to the required standards.
The owner is responsible for ensuring that the property is kept in good condition. Some expenditure incurred for repairs (not of a capital nature) can be an allowable tax deduction against rental income.

How to set a fair rental price

Setting a rental price is one of the most critical decisions you will make as the owner of the property. Your Property Place property manager is best qualified to assist you with determining a fair market rental value for your property.

The condition of the property must be considered when assessing rent. Location of the property is also relevant, as is the length of term offered. Remember, a fair rental price will help attract the best quality tenant which will be beneficial in the long term.

Property Management with
Property Place Agency

As a landlord, you can feel confident that the blend of experience and innovation provided by the highly experienced property management team at Property Place will translate to maximum results for the sale of your property.

We have a highly experienced, committed and friendly team who utilise their in-depth knowledge of our local area and expert understanding of market trends to ensure the entire process runs smoothly and the highest possible outcome for our landlords.

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