If you choose to use Maloney͛s to manage your property, you will need to arrange the following items:
1. Sign and complete the Managing Agents forms
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.
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.
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
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.
It is important we have emergency contacts (refer to section 'F' of your agreement) in case something goes wrong whilst you͛re 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.
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.
Maloney͛s 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.
Maloney͛s 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 are available to be emailed, faxed or mailed to potential tenants.
We will initiate a leasing plan which may include exhibitions of your property on certain Saturdays or weekdays. (Maloney͛s 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 give you an update every week (not Monday) and report to you regarding all enquiries and visits by potential tenants and the results.
A periodic review of the marketing is an essential part of the process. Maloney͛s, as well as yourselves have the same commercial desire to tenant the property efficiently and we believe that the partnership between Maloney͛s and the owners requires effective communication and authorisations.
We recommend that owners have professional photos at the commencement of the marketing as this presents a property to its very best in what is an extremely competitive rental market.
The photos may then be used in the future for further marketing campaigns without having to rely on the tenants presentation or furniture for marketing purposes. The only time these would need to be redone is if the property had significant changes such as renovations or if a large number of years had passed and the property has changed significantly.
During the tenancy, all matters relating to the money aspects of the tenancy/management agreement will be handled by the Administration section. These tasks include, but are not restricted to; collecting rent, paying accounts on behalf of the owners and paying the owners as per the agreed schedule.
All matters relating to the physical management of the property will be handled by the property managers. These tasks include, but are not restricted to; ingoing condition and inventory reports complete with photographs, routine inspections (with photos where permissible), maintenance requirements and tenancy disputes. The property manager͛s e-mail address will be listed within your handbook. We will forward the handbook to you on receipt of your management agreement.
Water usage costs can only be passed onto your tenants if the property is separately metered. Should you have a duplex or home with a flat attached that only has one meter we are not under the legislation able to charge the tenants for the water consumed. If your property is separately metered we will pass on the cost of the water consumption to your tenants. The accounts will come as part of your rates and will be paid from the rent if that is what you have selected. We will then send an invoice asking them to reimburse you for the cost of water. If you choose to pay the rates yourself and forward us copies of the accounts after payment we can also invoice the tenants for you.
Please note ACTEWAGL does not provide a service for final water reading at the end of a tenancy; this means that any water consumption charges for the final period of a tenancy will be calculated if the water meter is clear and easy for the property manager to read for you at the final inspection. If it is not, we can arrange to estimate the final cost from the previous account for you.
If a tenant vacates a property and any maintenance or cleaning needs to be done the invoices will need to be paid by yourself and then you will receive compensation from the tenants bond. Whilst we will do everything we can to obtain this reimbursement from the bond should the tenant dispute any work done the bond office automatically refers disputes to the ACAT for them to resolve. Work needs to be completed by a professional; you cannot complete the work yourself and take money from the bond.
If you need large maintenance jobs done such as painting or carpets it is best to arrange this between tenancies in the vacant period. We can place some funds on hold from the rent to pay the invoices if this is arranged ahead of time. Should your property require repairs to the kitchen or bathroom that cannot wait for a change in tenancy then you will need to compensate your tenant for the loss of these items or provide alternative accommodation during the repair. This may be necessary for items such as a leaking shower base or replacement of kitchen cabinets etc.
Maloney’s Property is committed to providing the ideal property management service to their property investors. We appreciate any feedback you may have during the management of your property. If you notice any error in our management service, please contact our staff at the earliest point to discuss the issue and have the matter resolved.
If at any time you feel that your concerns are not being adequately addressed, please contact the office and speak to our manager, Debbie-Lee Jackson-Hope. If you are still not satisfied, ask to speak to Peter or Sue Maloney.
Your satisfaction with our promised service is very important to our company’s growth.