Information for Landlords - Asset Management
Our vision is to create an Asset Management Department
that is one step above the rest.
In today's changing world, we realise that our job is more than just property management, it is management of the whole asset. This means finding ways to increase the value of your investment so there is more money in your pocket.
We are constantly looking for better ways to improve our services, and encourage the input of our clients.
Please find below some information on your obligations and rights as a landlord. Feel free to contact our office for further information or to discuss any issues.
Inspect your property
Before seeking a tenant we will assess a current fair market rental rate and provide advice on any work that may be needed in order to attract a quality tenant.
Finding a suitable tenant
Because YCR Property Rentals are the new home management specialist, we receive enquires daily from reliable tenants wanting to rent the right property.
We also use the following means to find suitable tenants:
- Check our data base of current prospective tenants
- Listing on our web site
- Premium positioning in realestate.com.au; including feature properties and properties of the week.
- Public Signage
This combination of methods is proven in the marketplace and will provide you with a suitable tenant within an appropriate timeframe.
Selecting a tenant
Prospective tenants are always accompanied to view properties. They complete a detailed application form and meet with your property manager for an interview.
Before recommending a tenant we carefully check the applicants employment references and with previous landlords or leasing agencies to establish the applicants character and reliability. We cross check the TICA Australasian wide default database for any prior issues with prospective tenants.
We advise the results to the landlord by phone.
The landlord makes the final decision whether to lease to the applicant or not.
Before the tenant moves in
We prepare a legally enforceable Tenancy Agreement and other tenancy documents, including our ‘no arrears’ declaration.
Collect the maximum Security Bond permissible.
Conduct a thorough inspection of the property and complete a detailed written report of the condition of the property and the fittings and fixtures prior to the commencement of the tenancy. We also prepare an inventory of any furniture and take photographs of the property.
Rental payments
Because we take considerable care in the selection of tenants, our rental delinquency level is very low.
Rent is payable in advance. We encourage each tenant to pay on either a calendar monthly, fortnightly or weekly basis dependant on their pay structure.
Tenants are able to pay rental instalments via our rentpay system, direct debit or at any branch of the Westpac Bank.
Regardless of the care taken, occasionally tenants fall into arrears. When this occurs a set procedure is instigated which includes text messages, breach notices, letters and telephone calls until the matter is resolved. In the unlikely event of further action needing to be taken, we liaise with the Residential Tenancies Authority and handle the matter in its entirety in ensuring vacating is completed or court action is taken. We will represent you at any court proceedings and provide all evidence to the Judge on the matter.
Routine inspections
Every rental property under our management is inspected internally on a regular 3 monthly basis during the tenancy. Following each routine inspection the landlord is provided with a written report detailing:
- The general condition of the property
- The manner in which the tenants are maintaining the property
- Any major repair or maintenance required in the foreseeable future
- Photographs and any other relevant information
Repairs and maintenance
We have a flexible system of maintenance to cover the requirements of owners who instruct us to attend to all maintenance matters on their behalf as well as for those who prefer to attend to these matters themselves.
Whilst we engage a range of qualified tradespeople to attend to all types of repairs/maintenance, if requested we a happy to use specific tradespeople designated by our landlords.
Financial statements & payments
Landlords receive a detailed computerised owner statement every month and a financial year statement issued on June 30 each year. A cheque can be included with your monthly statement, or alternatively an electronic payment credited into your nominated bank account on an overnight basis.
We can also attend to the payment of all regular disbursements such as council and water rates, strata levies etc. for our landlords.
Residential Tenancies Tribunal
The basic function of the Residential Tenancies Tribunal is to arbitrate on disputes between tenants and landlord/agents.
Our residential property management service extends to mediating between the tenants and the landlord should any dispute arise. As an impartial third party with a great deal of negotiation experience, we often achieve amicable results to the satisfaction of all parties.
Should it be necessary to attend a Tribunal hearing our property managers not only have a thorough working knowledge of the Residential Tenancies Act but extensive experience in the handling of Tribunal matters.
Lease renewals & rent reviews
The renewal of a fixed term lease is generally at the discretion of the landlord.
Prior to the expiry of a fixed term tenancy, we write to the landlord with our recommendations regarding an appropriate current fair market rental and seeking instructions from the owner regarding the renewal of the tenancy.
When your tenant vacates
When your tenant advises their intention to vacate the property, we set a date to conduct a final inspection and provided the tenant with a 'Final Inspection Check List' and inform the landlord of the tenants intention to vacate.
Upon the property being cleared of all personal effects and all cleaning (including the carpets) completed, a final check against the detailed written report prepared prior to the commencement of the tenancy is conducted by your property manager.
The Security Bond is refunded to the tenant only upon the payment of all rental to the required date and the satisfactory completion of all cleaning, gardening etc.
The search for new tenants usually commences well in advance of the property becoming vacant. In most cases, by the time your property is vacated, a suitable new tenant has already been found, approved by the landlord and waiting to move in.
Landlords... be confident that you will be completely satisfied with our service...
