Why we're # 1 for Property Management
We're committed to provide you with a level or service unmatched in the industry
We'll communicate with you regularly
We know you want to maximise the return on your property investment
What happens first . . . .
You need to appoint Realty 1 by completing a PAMD Form 20a "Appointment of Agent" - Letting and Property Management
Inspection of property is carried out and photographs taken
The property is featured "For Rent" on two web sites, printed as a "Rent List" and advertised in Saturday's Courier Mail
A For Rent sign is erected
Contact is made with all prospective tenants on our database
What we check when an application is received
Prospective tenants must comply with 100 point of ID, references and proof of income
Clearance must be received from TICA (Tenancy Information Centre of Australia)
Financial capacity to afford rent must be evidenced
Once a tenant is selected, we like to contact you for your approval. The bond – equal to 4 weeks rent– is paid and lodged with the R.T.A.
What about Inspections?
Entry Condition Report at the beginning of the tenancy
3 monthly routine inspections (written report)
Exit Inspection
Maintenance
24 hour emergency service
Competent tradesmen engaged
Insurance
We recommend the following:- Building
- Contents (where necessary)
- Public Liability
- Landlord Protection (can cover you for loss of rent, malicious and accidental damage. The cost is approximately $250pa tax deductible)
What if the tenant doesn't pay rent?
Rent Arrears checked daily
Tenant is phoned directly
After 7 days the tenant receives "Notice to Remedy" (Form 11)
At the expiry of Form 11, a Form 12 "Notice to Leave" is issued
What does it cost?
Letting fee (to secure a new tenant) is the equivalent of the first week's rent (+ GST)
Management Fee 3.5% (GST inclusive)
Rent collection 5% ( + GST)
Monthly Admin $6.00 (GST inclusive)
How do you get paid?
On the 2nd working day of each month, a deposit of "cleared" funds will show in your nominated bank account
Computerised rental statements will be received monthly
Further Information
The Tax Office is working with Real Estate Agencies to provide REIQ members with information that will benefit their clients. There are several excellent publications available relating to investment properties. These include:-
The 'tax-smart' flyer
- a flyer to encourage real estate investors to find out more about tax and property investing.
The Rental Properties Guide
- a guide which explains rental income, deductions, record keeping and what you need to know when you sell
The Guide to Capital Gains tax
- everything you wanted to know about capital gains losses.
The Guide to depreciating assets
- the 'how to' of depreciation.
To order your copy of the above publication email your request to us. These publications are also available to download online. Visit www.ato.gov.au and select "booklets and publications".
