managing your investment property
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MANAGING YOUR
INVESTMENT
PROPERTY
2 Managing Your Investment Property
“Newcastle Property Management”, holds the
responsibility for looking after your most valuable
asset in the highest regard and will continually work
towards providing you with the ultimate property
management experience.
Our results, ethics, service and achievements stand us apart
from our competitors. We are committed to working with you
to achieve the best result.
Since 1971 we have helped thousands of property investors
manage their biggest investment. What’s more, we can do
the same for you.
Newcastle Property Management works in the absolute
interest of all our owners. They are equipped with
experience, knowledge and all the tools needed to
effectively manage your valuable asset.
If you’re committed to getting the best result for your
investment and you want the process to be as rewarding and
stress free as possible, we can help you.
At any time should you wish to
discuss your property with me, I
welcome your call.
Craig Andriessen J.P
Director
ABOUT...
OUR staff Kellie Andriessen is our Senior Property Manager
and oversees the team at Newcastle Property
Management.
Managing Your Investment Property 3
Kellie’s goal is to look after our Investor’s properties like her
own and maximise their returns whilst also ensuring it is as
stress free as possible for you, the investor. Kellie is a
property investor herself and has been working in property
management since 1989 and understands the importance of
attention to detail and the Tenancy Act inside and out. So you
know you will be in good hands.
4 Managing Your Investment Property
HOW DO
tenants? WE FIND
Newcastle Property Management’s marketing campaign is
high impact and innovative, proven to find tenants in the
shortest possible time frame.
Once you have made the decision to employ Newcastle Property Management as
your managing agent our marketing campaign commences immediately.
The marketing campaign consists of the following:
1 Internet Advertising
WITH
Managing Your Investment Property 5
.com.au newcastlepropertymanagement
quality PHOTOGRAPHY
AND DESCRIPTIONS
2 Tenancy Matching
Newcastle Property Management’s exclusive database
includes tenancy applications who have already
registered their requirements with us. Our database
consists of around 3000 registered tenants.
3 For Lease Sign YOUR 24 HOUR A DAY
SILENT LEASING AGENT
When a tenant is looking for a new home in a certain area,
they will spread the word through friends and family. Whilst
simple, this form of marketing is highly affective.
6 Managing Your Investment Property
4 Rental List
Each and every property For Lease is listed on our
full colour rental list which is updated daily.
TENANT
SELECTION
complete Newcastle Property
Management pride
ourselves on our
reputation and referral base
business; therefore, we have
designed a strict tenant
interview and application
process.
It is our office policy that every
prospective tenant is accompanied to a
property with a member of our property
management department. Under no
circumstances we will issue keys to
your vacant investment property.
During the property inspection with the
prospective tenant, our staff member
attending the appointment conducts an
interview to access their suitability for
the rental property.
Once the application is received, we
thoroughly check their 100 points of ID
along with confirming employment
details. If the applicant has a rental
history, we contact their previous
manager or landlord to discuss their
tenancy along with obtaining a copy of
the rental payment ledger.
Newcastle Property Management is
also a member of Tenancies
Information Centre of Australia (TICA) a
comprehensive database of defaulting
tenants. This database is an imperative
tool when it comes to selecting a tenant.
Prospective tenants are checked by our
property manager before being run past
the landlords who have the final
decision.
agreement RESIDENTIAL TENANCY
Once a tenant has been approved to lease your
investment property and they are ready to move
in, they are required to enter into a binding
Residential Tenancy Agreement.
Newcastle Property Management will prepare the
Residential Tenancy Agreement along with
supporting documentation such as entry reports,
photocopy of the keys being provided and bond
lodgement forms.
At the appointment to sign the Residential Tenancy
Agreement, the property manager will ensure that
the tenant fully understands the terms of the
agreement and their responsibilities and payment of
two weeks rent in advance by the tenant. By law
your Property Manager will sign this document on
your behalf.
A rental bond equivalent of 4 weeks rent is
collected and disbursed to the Rental Bond Board
for the duration of the tenancy.
Tenants to be
issued with our
exclusive tenant
handbook.
inspections COMPHREHENSIVE
PROPERTY
In order to monitor and ensure that your investment is being
well maintained at the highest possible standard, inspections
are both a priority and responsibility of investment
10 Managing Your Investment Property
1
2
3
4
ENTRY CONDITION REPORT Prior to the tenant moving into your investment property an in-depth and
detailed condition report will be completed by your property manager. A
minimum of 25 photographs will be taken via digital camera at the time of
the condition report being completed for the file.
PERIODIC INSPECTIONS The first inspection will be conducted six weeks into the tenancy and every
three to four months thereafter. Following each inspection a comprehensive
report on the overall condition along with any recommended repairs and
maintenance will be sent to you. Digital photos will also be taken at the
inspection to remain on file. Please advise the property manager if you
would like to attend the periodic inspections.
EXIT CONDITION REPORT Once the tenant has vacated the property and handed in all of the keys to
our office, an in-depth and detailed exit report is completed and cross
referenced with the initial entry report to ensure that the property is left in
the same condition as when the tenants moved in, given fair wear and tear.
AT RANDOM DRIVE-BY INSPECTIONS Newcastle Property Management are always in the area. Frequent drive-by
spot checks are important as they can often identify if the property exterior
is being maintained or not. If the yard is not being well maintained,
immediate action will be taken to have the issue rectified.
Managing Your Investment Property 11
ARREARS
management PROCESS
Newcastle Property Management have zero tolerance rental control
procedure that is always adhered to regardless of the tenants reasoning's
behind late payment.
This procedure is to ensure effective management of arrears to protect
your investment.
Following is a sample of our arrears process:
2 days in arrears
SMS reminder
4 days in arrears
Reminder
phone call
7 days in arrears
Letter to remedy
the breach of
contract
days in
12 arrears
Phone call from
the Senior
Property Manager
days in
15 arrears
Automatic notice
of terminations
issued
LEASE & RENT
reviews Newcastle Property Management
are consistently monitoring
the market conditions and
property prices.
You will be contacted in writing eight weeks
prior to the expiration of the lease seeking
your instruction in relation to renewing the
lease for a further 6 or 12 months.
At this time, we will advise you of the current
market rate to ensure that your investment
is receiving a premium return at all times.
Should you decided not to offer
your tenant a new lease, but
keep them in an “ongoing
tenancy”, we will continue
to re-access your rent
twice yearly, to maximise
your investments return.
Managing Your Investment Property 13
payment OF INVOICES
PAID We can pay a range of
invoices that relate to your
investment property such as;
Council Rates
Water Rates
Strata Levies
Tradesman Invoices
Insurance Renewals
At the end of the financial year, Newcastle Property Management can provide a
single statement to pass directly onto your accountant, that will show payments of
all outgoings and income for your property.
PAID We can pay a range of
invoices that relate to your
investment property such as;
Council Rates
Water Rates
Strata Levies
Tradesman Invoices
Insurance Renewals
At the end of the financial year, Newcastle Property Management can provide a
single statement to pass directly onto your accountant, that will show payments of
all outgoings and income for your property.
accounting MONTHLY
NEWCASTLE
PROPERTY
MANAGEMENT
HAS...
PAYMENTS
ARE MADE
DIRECTLY...
A DETAILED
STATEMENT...
… a complete
computerised
accounting system
to alleviate errors
and confusion.
… into your bank
account either
monthly or twice
monthly.
… with any
invoices paid
during the month
will be posted or
emailed to you.
Information YOUR PERSONAL
CENTRE Our online web portal gives you the ability to monitor your
residential investment property 24 hours a day.
Instead of having to get in touch with our office during business hours, you
can view, search and download the details you need, all from your home or
office computer at any time of the day or night.
A snapshot of what you can access:
See easily where your tenant is paid up too.
See information on property
inspections and maintenance
tasks.
Download monthly statements
and invoices.
Download previous
correspondence.
16 Managing Your Investment Property
excellence NEWCASTLE PROPERTY MANAGEMENT
COMMIT OUR STANDARDS IN WRITING
All clients receive:
1. Our Exclusive Property
owners handbook.
2. Service Standards
Commitment.
3. Monthly Newsletters with
reliable information in relation
to market trends as well as
legislation changes.
Managing Your Investment Property 17
OUR fees ARE NOT
A SECRET
WE KNOW WE’RE
NOT THE CHEAPEST
IN TOWN
NOR ARE WE THE
DEAREST
A CUP OF
COFFEE
Approximately the difference
PER WEEK between us and
INEXPERIENCED agents.
18 Managing Your Investment Property
why FEES: CHEAPER IS NOT
ALWAYS BETTER
The real estate industry has been inundated by agents
prepared to work for low fees. On the surface this looks
like a great deal, but getting a good deal on the leasing
of your property with a great tenant relies on more than
just a low commission.
Some landlords make the mistake of selecting a property
manager offering the lowest commission or promising the highest
leasing price for the property. This often misses the market of
potential qualified tenants and the best possible price. This can
mean your property takes longer to be rented or undesirable
tenants applying for the property because the agent doesn't have
much investment in leasing the property or has the property
priced outside the market.
Property management is a professional service. Selecting a
Property Manager who offers the lowest fee can be costly to your
investment in return. In your decision to select a Professional
Property Manager to manage your investment property, it is
imperative that all the staff are experienced in applying lawful
procedures, have a keen attention to detail and have the systems
in place to maximise the return on your asset along with
managing your property as though it was their own.
Managing Your Investment Property 19
Our Packages
Other Fees
Finding and placing new tenants—1 Weeks rent + GST
Preparation of lease—$33.00 (Incl. GST)
Monthly admin—$6.60 (Incl. GST)
Marketing Fee—$165.00 (Incl. GST) Part cover of internet marketing
Options
End of year financial statement $16.50 (Incl. GST)
Lease renewal fee—half week’s rent plus GST (Incl. lease preparation fee)
Mid-month disbursements to owner—$2.20 (Incl. GST)
Advertising in the Newcastle Herald—at cost
Smoke Alarms Australia - $99.00 (at cost) P/A
Floor Plan—$50.00 (at cost) Reusable
MAKING
PROPERTY
MANAGEMENT EASY FOR
PROPERTY
INVESTORS
www.newcastlepropertymanagement.com.au
phone 4956 9777 email [email protected]