Landlord Services (LS)

Landlord ServicesProperty Management.



Management Services. Pages 4-5 Pages 6-7Management Timeline Pages 8-9Team Responsbilities Pages 10-11Property Management Services Pages 12-13Marketing & Advertising Pages 14-15Leasing Fee Pages 16-17Reports, Inspections & Reviews Pages 18-19Inventory Reports Page 20-21Financial Summaries Pages 22-25Court Preperation & Attendance Additional Landlord Services

Management Timeline Management Repairs & For Lease Authority Signed Maintenance Campaign Tenancy Tenant Notice Review to Vacate4

Lease Signed Property New Tenancy Handover (PCR) Commences RentRoutine CollectionInspections Rectification / Bond ReleaseRe-Let Process Outgoing Handover,Commences Final Inspection Lease Signed Property Handover (PCR) For Lease Campaign 5

Team Responsibilities Asset For Rent Senior Property Management Campaign Property Management Advisor Manager Assistant Gives guidance Your go-to Your tenant’s and provides person once liaison and mainoptions on the presentation, the lease commences. They point of contact. Ensures yourmarketing, leasing and will keep you informed and property is well maintained andmanagement of your property. manage all high-level tasks. organises repairs as needed.Management ManagementAuthority Signed Period Leasing Consultant Sales and marketing specialist. Focusses on listing, opening and leasing property. Expert in negotiating with potential tenants and provides constant feedback throughout the campaign.6

Re-Let Senior Property For Property Management Sale Manager Assistant Your go-to Your tenant’s person once liaison and main the lease commences. They point of contact. Ensures your will keep you informed and property is well maintained and manage all high-level tasks. organises repairs as needed. Management Period Leasing Sales Team: Consultant Senior Agent Personal Assistant + Sales Support / Admin Sales and marketing specialist. Focusses on listing, opening and leasing property. Can appraise your property at any time.Expert in negotiating with potential tenants and provides Provides marketing and selling options, asconstant feedback throughout the campaign. well as strategies and access to buyers when you need them. The team make the transition to ‘sold’ hassle free and fast. 7



Property Management Services.Managing property on behalf of others isn’t for the faint-hearted, it requires an exceptional knowledge of laws andregulations, industry best-practices and also amazing communication and customer service skills. Below are some of thetasks and skills we perform that the management fee covers:1 Liaison Officer: we are open and honest with our 6 Maintenance Management: we investigate, organise communication to ensure you, tenants, contractors, quotes, arrange contractors and oversee works done – strata companies, authorities and anyone else involved then manage the paperwork and payment for you. has the information they need in a timely manner. 7 Market Specialist: we know the market and ensure rents2 Compliance: there are a multitude of checks & balances are reviewed and adjusted appropriately. We keep you for properties, tenants and landlords to ensure they’re informed of important market changes that affect value compliant. Relax – we do this for you. and appeal to both tenants and buyers.3 Set Expectations: we protect your asset by ensuring 8 Provide Transparency: there’s nothing to hide. Along everyone understands what’s expected throughout the with regular updates, we manage an online portal so tenancy, including obligations and consequences if rent you can see what’s happening with your property at any payments lapse or items are damaged or lost. given time.4 Collection of Rent: we collect, chase-up, reconcile, 9 Asset Advisor: we’ll let you know what needs attention administer, manage and disperse rent funds. now and in the future, so you can plan but also get the best returns from your investment.5 Filter the ‘Noise’: we take the stress away from managing property – so we’ll pass on the information 10 Find Solutions: there’s a million potential problems with you need. managing property. We provide solutions to get the best outcome in any situation – big or small. 9



Marketing & Advertising. Marketing of rental property is critical to the speed and result of the campaign. Our leasing strategies will vary from property to property, but always include quality images, great ad copy and a range of places potential tenants will find your property – both on and off-line. Some of the elements that make up a typical marketing strategy for rental properties include:1 Professional Photography 2 Professional Floor-Plans3 Copy Writing & Administration 4 Industry-leading Software & Tools5 Outstanding Online Coverage – all major portals6 Premium Presence on Realestate.com & Domain.com7 Signboards8 Paper Advertising 11



Leasing Fee.Getting amazing results when finding tenants for our landlords isn’t luck – and putting hope into a strategy of ‘just getit online’ is risky at best.We have dedicated Leasing Consultants, who are sales specialists (not Property Managers) and run Leasing the sameway as our Sales Department. We know time on market is costly and we leave no stone unturned to find, contact,meet and follow up every tenant who might consider moving into your property.Some of what’s included in our Leasing Service includes:1 Dedicated Leasing Consultant 6 Expert Assessment & Proven Strategy 7 World Class Opens2 Current A-Grade Applicants 8 Great Communication & Feedback 9 Applicant Approval3 Tenant Matching Service (last 30 days tenant database) 10 Assessment & Processing4 Targeted Direct Marketing 11 Lease Confirmed: Tenant Handover & Expectations5 High-Quality Stocklists – distributed to every tenant we meet 13



Reports, Inspections & Reviews.Property Condition Report & Final Bond Inspection Inspections & ReviewsA Property Condition Report (PCR) is a report with Throughout the tenancy, we’ll conduct regularassociated photos that describes the condition of your Routine Inspections to make sure the property is beingrented home. Property condition reports are normally maintained as it should. This begins 6 weeks after thecompleted prior to a tenancy beginning, with a Final tenant’s move in and then every 3 months from then on.Bond Inspection at the end of a tenancy to compare the We’ll also note any repairs reported or observed by uscondition. and any other recommendations needed to assist you in keeping your property in the best condition possible.The information contained in the PCR and Final BondInspection dictates whether compensation will be paid We’ll also assess market conditions throughout theto a landlord for damage or loss to the property during tenancy and if there’s been a shift in values, we’ll do aa tenancy. Having a PCR won’t help the landlord unless rent review. This would typically happen 6 months afterit contains detailed descriptions and images that prove the tenants have moved in, but can vary depending onthe previous condition in the event of a dispute, with it the lease. We will contact you prior to discussing withverified at the Final Bond Inspection and documented the tenant, so you’re aware of our intentions and so youaccordingly. can advise or suggest as necessary.A quality PCR takes between 4-5hrs to prepare andhaving a great PCR and Final Inspection Report insuresyou’re protected should anything happen during atenancy. We simply won’t take shortcuts with thesedocuments. Unfortunately, many companies do. 15



Inventory Reports.The Ingoing Inventory Report sits alongside a PCR when it comes to disputes. These reportstake a significant amount of time to prepare as each individual item needs to be counted andthe condition noted so we can assess it at the end of the tenancy. Similarly to the Final BondInspection, the Outgoing Inventory Report assesses any changes in condition to the items withinthe property and whether that would be considered ‘fair wear and tear’.If there is any damage or anything missing, the reports will show this and compensation orreplacement items will be arranged accordingly. 17



Monthly Statements & Annual Financial Summary.Monthly StatementsWe will issue you both monthly and yearly financial statements, accounting for all monies we havehandled and disbursed to you on your behalf and in accordance with legislative requirements.We can provide any tax invoices from tradespersons or other disbursements upon request.Annual Financial SummaryWe also can provide an End of Year Statement summarising each month’s transactions, formattedspecifically for accounting ease. This removes all the hard work (and cost) away from youraccountant and minimises the bookwork and stress come tax time. 19



Court Preparation & Attendance.In the unlikely event of a dispute, we can help resolve the issue on your behalf. We always attemptto resolve disputes before going to Court, however, when necessary it’s good to know we’re inyour corner. Our Property Management team is made up by some of our industry’s best and mostexperienced people, who’ve been through this process before – and can make sure your rightsunder the Residential Tenancies Act are represented appropriately.We’ll ensure you’re advised throughout the process, give you advice based on our understandingof the facts, the documentation we have and our experience in similar situations so you can makethe very best decisions.Landlord insurance covers most, if not all the Court Preparation & Attendance so we stronglyadvocate having this cover while having investment property. 21



Additional Landlord ServicesBeing part of Realmark Central means access to a huge network of property professionals. Weunderstand that all our investors have different needs, so alongside our exceptional managementservices, we have market and research specialists, sales professionals, legislative, accountingand compliance experts and of course, hundreds of years of experience in local residential andcommercial property.Let us know what you need or where you’re trying to get to and we’ll do what we can to get youthere. Some of the additional services we offer are outlined as follows;Investor EducationWe’re all good at different things, so we like to offer FREE landlord events with industry expertsto fill in a few gaps! Some of the topics include Tax Planning, Self-Managed Super Funds,Tax Depreciation, Investment & Personal Insurance as well as Financial Planning & Brokinginformation. You probably won’t need to attend them all, but they’re there if you’d like to comealong to learn a little more. 23

Additional Landlord Services Anytime Market Appraisals We’ll conduct a thorough market & property analysis, see what’s currently on the market, what’s recently sold & leased and how your property compares to help you understand what’s possible. Market Research & Understanding We keep abreast of what’s happening out there that affects your property - what are the banks, economists, media and other pundits saying. We are reading and interpreting this commentary daily to let our client’s know the latest. Values of property are affected by local, national and international factors. Macro-drivers we look at include; interest rate changes, new resource sector projects, employment trends, migration information & significant industry changes. We then turn to local information such as new facilities, amenities, infrastructure, building projects and anything else that affect demand or supply. Lastly we review the current sales & rental trends, projections and confidence – what sales have happened, what’s currently on the market? We then crystallise this information so you can understand how it all effects the value of your property.24

Additional Landlord ServicesInvestor SupportPart of our service is putting a strategy in place to take advantage of market peaks and troughs. We offer ourinvestors real guidance on when is best to sell and why, what you need to know, what does it all cost, what taximplications need to be considered and how does liquidating an asset really work – can this be ‘hassle-free’?Realmark Central have numerous property professionals available here at the office, or close by, so there’salways an expert in your corner. We have access to the Realmark group’s legal and financial personnel to helpguide you in the right direction when tricky situations arise. Just let us know exactly what you need and we’llfind the right person to go through things with you to make sure you’re minimising outgoings, maximising yourreturns or just prepared and covered for different situations.Investment OpportunitiesWe’re here to help whenever you’re interested in buying or investing again. You can utilise a Buyers Agents tofind a specific property type and location, or take advantage of new developments, investment-specific listings(strong cash-flow or growth potential) as well as any of our new sales listings close by through our office, or inother markets via other offices in the Realmark group. 25

Realmark CentralProperty Management Specialists 113 Newcastle Street, Perth WA 6000 (08) 6557 5000 [email protected] realmarkcentral.com.auRealmark and its related entities provide general information and marketing advice. Our information and advice are not intended to constitute legal, business or other professional advice and cannot be relied upon for that purpose.Factors beyond the control of Realmark can affect the quality or accuracy of the information in this guide. While every effort has been made to ensure accuracy and completeness, no guarantee is given nor responsibility taken byRealmark for errors or omissions in this guide. Neither Realmark nor its related entities do not accept any liability for any loss or damage incurred as a result of the use of, or reliance upon the information provided in this guide orincorporated into it by reference except to the extent limited by law. Copyright © First published March 2017 in Western Australia.