Getting started
If you choose to use Maloney͛s to manage your property, you will need to arrange the following items:
1. Sign and complete the Managing Agent Agreement
We commence the task of finding you an ideal tenant once the forms are signed. The management agreement is a vital document that sets out the information we require to manage your property efficiently, it is very important that you take the time to read and fill them out accurately. Please pay particular attention to bank account details, your contact numbers so we can contact you and your emergency contacts for when you͛re not able to be contacted. If you want us to pay your bills such as rates, unit levies etc the forms are in our management folder. If these are completed early, it streamlines the process once tenants are found.
2. Keys
To effectively manage your property we do require three complete sets of keys 2 x tenant and 1 office, if you only supply us with 1 set of keys we will arrange copies and ask that you reimburse us the cost.
3. Insurance
You need to advise your insurance company that the property is being leased out and that you require landlords insurance (insurance that also covers contents and default of rent and damage). We have enclosed a very good insurance proposal against which you should compare all others.
4. A commencement date
It is very important that we establish a date at which time the home is vacant and ready to be occupied.
5. Maximising your Legal Tax Deductions
Before you move out or a new tenant moves in, is the ideal time to have a quantity surveyor inspect the property. We recommend that wherever possible you have a depreciation schedule to maximise your tax benefits
6. Do the maintenance early
Often before owners leave a property is the best time to have the little things around the home fixed and repaired, so a number of items can be attended at the one time and access is usually easier through the owner͛s than through the tenants. We can pay the bills once the rent comes in and you can claim them as a tax deduction.
7. Warranties and Manuals
If you have manuals and warranties for the appliances within the home that you are leasing out, it is good to be able to have 2 copies available. One for us to keep on file and one to remain at the property. It is best for you to keep the original copies.
8. Cleaning of Property
We find that because many of our Property Investors are so busy at the time of moving, that having the property professionally cleaned is a very worthwhile investment. It is also a very good starting point for your tenancy.
We can also only insist that carpets are professionally cleaned at the end of a tenancy if they have been professionally cleaned prior to the commencement. If the tenant questions the carpet cleaning at the end of their tenancy it is important that we are able to provide a copy of the receipt to prove that they were cleaned at the beginning
Important information for property investors
Maintenance & Repairs
The Tribunal is very tough on property owners that have not seen to repairs and maintenance quickly.
In one particular case (not a Maloney͛s property owner), the Tribunal reduced the rent to half until the work was completed and actually back- dated this by 6 months to when the maintenance was first requested.
The Act states that urgent repairs are to be completed ͚as soon as necessary͛, and general repairs must to be completed within 28 days.
To enable us to help all our property owners comply with the legal obligations set out under the Act it is important we have all our owners͛ contact details and that you respond to any correspondence from us relating to maintenance as soon as possible.
Maloney’s regular contractors are focused on your best interests.
Emergency Contacts
It is important we have emergency contacts (refer to section 'F' of your agreement) in case something goes wrong whilst you͛'re un-contactable. The nominated emergency contacts should not be your spouse or partner, as they will most likely be away with you. It is also essential that you trust these people to make a decision on your behalf, and are able to be contacted during business hours.
Re-letting Properties
Under the current legislation, it is almost impossible to get a tenant out during the fixed term of the lease. Over the Christmas period, we had a number of properties become vacant at short notice butwere unable to contact the Owner͛s to authorise re-letting of the properties.
We will endeavour to contact owners before any work is arranged or a new lease is signed, however there are times when this is not possible. Your management instructions will enable us to act in your best interest.
Frequently Asked Questions
Maloney’s Real Estate employs specialist leasing staff members to facilitate finding and signing up a suitable tenant and will attend to all matters until the tenant takes occupancy of the property. A staff member will contact you to introduce themselves.
Maloney’s advertise on our website as well as Allhomes, RealEstate.com, and Domain (costs apply). Rental lists are available for tenants to peruse on our website, front counter, and window display. These lists can be emailed, faxed, or mailed to potential tenants.
We will initiate a leasing plan that may include exhibitions of your property on certain Saturdays or weekdays. (Maloney’s does not allow prospective tenants to access the property without a representative accompanying them or to contact the current occupant directly.)
A staff member will provide you with weekly updates (excluding Mondays) and report on all inquiries and visits by potential tenants.
A periodic review of the marketing is essential to the process. Maloney’s and the property owners share the same goal of efficiently leasing the property, and effective communication and authorization are vital to achieving this.
We recommend professional photos at the start of the marketing campaign as they present the property at its best in a competitive rental market.
These photos can be reused for future campaigns without relying on the tenants' presentation or furniture. Photos should only need updating if there are significant changes, such as renovations or after many years when the property’s appearance has changed substantially.
During the tenancy, all financial aspects of the agreement, such as rent collection and payments to owners, will be managed by our Administration team.
The property managers will handle all physical aspects, including condition reports, routine inspections (with photos where permissible), maintenance, and tenancy disputes. Contact information for your property manager will be listed in the handbook provided upon receipt of your management agreement.
Water usage costs can only be passed onto tenants if the property is separately metered. If your property shares a meter, tenants cannot be charged for water consumption under legislation.
For separately metered properties, we will invoice tenants for water usage based on the rates notice. Owners can choose to have water costs deducted from rent or send us copies of paid invoices for tenant reimbursement.
If cleaning or repairs are needed after a tenant vacates, you will need to pay the invoices, and compensation can be sought from the tenant’s bond. Disputes over bond deductions are resolved by the ACAT.
Work must be completed by a professional; DIY work is not eligible for bond reimbursement.
Large maintenance jobs, such as painting or new carpets, are best arranged between tenancies. We can hold funds from rent to pay invoices if pre-arranged.
For urgent repairs during tenancy (e.g., kitchen or bathroom), you may need to compensate tenants for inconvenience or provide alternative accommodations.
Maloney’s Property is committed to providing exceptional property management services to our investors. If you have concerns or notice any errors in our service, please contact our staff to resolve the issue promptly.
If you feel your concerns are not adequately addressed, you can escalate them to our manager, Debbie-Lee Jackson-Hope, or contact Peter or Sue Maloney.
Your satisfaction is vital to our company’s growth.
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