Money Choice Property Management recognises the importance of managing your property efficiently to achieve a balance between maximum return and minimal vacancy.
A rental property is viewed by our company as a valuable asset which needs to realise a fair return and therefore the greatest care is taken at all levels to ensure this is achieved. The Property Manager will get to know your property as intimately as you, sometimes even more so, thus ensuring that your investment receives the special attention required to maximise its return.
The Property Management department meets weekly to discuss marketing strategies, new legislation, landlord and tenant concerns, vacancies and market trends. Regular inspections and thorough market awareness means that your investment could not be in more capable hands.
Money Choice Property Management undertakes thorough inspections of your property and provides a written rental market appraisal.
Effective marketing is the most powerful way to reach prospective tenants. Our marketing program for a property begins upon receipt of the signed Leasing/Managing Authority. To attract the best possible tenant for your property the importance of advertising and marketing cannot be underestimated. We look for the ‘right’ tenant. Our marketing covers the following;
- Comprehensive and detailed rental list (including photographs)
- Open for inspections
- Private appointments
at suitable times
- Selected independent newspapers (where required)
- Colour brochures
- E-Mag (In house magazine displaying both sales & rentals)
- Lease Boards (if requested and approved by Body Corporate. Additional cost.)
Our relationship with relocation companies provides us with a constant source of interstate and overseas transferees seeking rental accommodation. Money Choice Property Management is also regularly contacted directly by companies requiring accommodation for their local, interstate and overseas personnel.
The advent of the Internet allows us to utilise our marketing systems further by providing rental listings through this global system. Prospective applicants can log on and check what properties are available from a fully detailed list with photographs and floor plans. The internet sites are;
The importance of tenancy selection is imperative. At Money Choice Property Solutions our job is to ensure that we choose the right tenant so your property is protected.
Our policy of stringent criteria for our tenant applications, results in a positive experience for both the landlord and tenant.
All applicants are required to complete a tenancy application form allowing us to thoroughly check current and previous landlords/agents references, current and previous employer references. We also investigate rental histories through a database only available to agents known as NTD (National Tenancies Database).
When all reference checking is completed, we refer the application to you for final approval and discussion of any special conditions if required by either tenant or landlord.
PREPARATION OF DOCUMENTATION
- Preparation of lease documentation on standard REIV Residential Tenancies Leases and incorporating special conditions if required.
- At commencement of each tenancy condition reports are thoroughly completed and photos are taken by the Property Manager.
- Bond lodged with Residential Tenancies Bond Authority (RTBA) within 5 business days.
- Provide tenants with relevant tenancy information and documentation including;
emergency tradesperson contact details, statement of rights and duties (as required by Residential Tenancies Act 1997), water & utility charge registration form eg. ‘On The Move’ a company that arranges connection of all amenities on behalf of the tenant at no cost – this ensures tenants details are registered without delay.
- Upon approval by the landlord, tenants are required to secure the property by signing the lease and paying the bond (equivalent to one calendar months rent).
MANAGING YOUR PROPERTY
- Collect monthly rental and provide Landlord with monthly statement/tax invoice detailing all income & disbursements. Electronically deposit funds into nominated accounts.
- Payments of GST to Australian Tax Office as required.
- Pay all regular and authorised outgoings from rental including council rates, water service/usage charges, body corporate fees/levies, insurance, regular garden & caretaking maintenance, etc - (optional).
- Arrange and co-ordinate maintenance repairs engaging our preferred professional tradespeople or tradespeople of your choice. Repairs carried out on behalf of the landlord are paid from rent monies held in trust. Full copies of invoices are attached to your monthly statement.
- Regular property inspections ensure that your investment is safe guarded.
- Advise you of any repairs, preventative maintenance or recommendations that may be required.
- Negotiation of lease renewals and rent increases for existing tenants taking into consideration the current rental market.
- Careful monitoring of any rental arrears including telephone calls, written correspondence and service of prescribed notices within required time frame or as instructed by the landlord.
- Preparation of all Tribunal documentation and representation on behalf of the landlord at Victorian Civil & Administrative Tribunal (VCAT) if required.
- Dispute resolution to ensure matters can be dealt with in a professional manner to avoid Tribunal appearances.
- Complete Bond Transfer Form if required during the tenancy as a result of tenant changes.
- Thorough final inspections conducted at the completion of tenancy to ensure the tenant returns the property in the same manner as reflected by the Condition Report and ingoing photos.
- Completion of Bond Claim Form and disbursing of bond monies.
- Providing end of financial year statement detailing total revenue and expenditure.
Money Choice Property Solutions monitor rent and ensure it is paid on time via internet banking, telephone banking and any Post Office Australia wide.
RECOMMENDED PROPERTY MANAGEMENT COMPANIES FOR WA & NSW
Access Property Management
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(PO Box 119),
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A GUIDE TO PREPARING YOUR PROPERTY FOR LEASE
- Have all carpets steam cleaned/dry cleaned (this will ensure future tenants will clean them prior to vacation).
- Windows need to be cleaned internally and externally.
- Drapes need to be cleaned or washed according to fabric.
- Thorough internal and external clean (i.e. cobwebs, window screens etc.)
- Prune back any overhanging trees.
- Weed all garden beds.
- Mow and edge lawns.
- Remove garden refuse.
- Clean out garden sheds/garage etc.
- Ensure any tennis courts are free from weeds and have been recently treated.
- Ensure any pools/spas are free of leaves and have been recently treated.
- Do you have smoke detectors?
(Legislation requires all tenanted properties must have smoke detectors).
- Check and replace all tap washers if required.
- Clean out spouting.
- Service heating/cooling systems and appliances.
- Replace globes where necessary.
- Provide instruction manuals for all appliances.
- Water reading
- Gas reading
- Disconnect power
- Alarm monitoring – ensure you cancel or transfer tenant details
- Advise pool, garden and tennis court maintenance people of our details or cancel
services if no longer required
Note – Check with your Property Manager first as power should be left on for swimming pools, alarm systems, automatic sprinkler systems and remote control gates.
- Is your building insurance current?
- Do you have Landlord Protection Insurance?
This can include cover for carpets, curtains, malicious damage, loss of rent and additional legal liability. Money Choice Property Solutions Property Management suggests that each tenant takes out their own contents insurance.
- Click here to view or download our PDF Form >
- Ensure full set of keys has been handed to our company including keys for window locks, garage and garden sheds, letterbox along with remote controls and alarm codes (if applicable).
- A spare set of keys will allow for easy access for routine inspections or maintenance.
Note – Section 10 of the Residential Tenancies Act 1997 requires that a landlord must provide locks to all external doors and windows of the rental premises. As the jurisdiction of the Residential Tenancies Tribunal has been increased to $9,999, we strongly suggest installation of window locks and deadlocks to prevent any claim from the tenant under this section.