Over 100 best practice forms and information are in addition to the 250 plus page procedures and training manual.
PME also includes the
following on the PME CD;
·
Personalised tenancy sign up CD –
valued at $880 standalone product – non-member rate
·
QCAT Training CD – valued at $330
standalone product – non-member rate
·
Drugs in Property Awareness CD -
valued at $55 standalone product –
non-member rate
·
QCAT relevant Decisions and appeals
up until June 30th 2012
1.1
What is the role of a Property Manager?
Property Managers manage the tenancy
relationship and relevant tenancy matters on behalf of the lessor client. A key tip in property management success is
to ensure your agency verbal and written language reflects the ‘true
situation’. For example use words such as
·
On
behalf of the owner
·
The
lessor has advised
·
The
landlord instructions are
Remember, Property Managers don’t make
decisions as such; recommendations and solutions are made to the parties of the
agreement (lessor and tenant) and if they don’t agree or may not be correct,
dispute resolution may occur.
Below are some of the main services property
managers carry out as the managing agent. The list is not exhaustive and is a
general guide only.
- Showing
the property
o
Organising
inspections to show the property to prospective tenants
- Advertising
the property
o
Using
resources such as on websites and our in house agency ‘rent list’
- Processing
tenancy applications
o
Verification
and assessment of the tenants ability to pay rent and ability to care for the
property
- Lodging
rental bonds to the Government Authority on behalf of the lessor
o
It
is a legal requirement that rental bonds paid by a tenant be paid to the RTA
(Residential Tenancies Authority) within 10 days of monies being received.
Bonds can be no more than 4 x the weekly rent if the rental weekly value is
$700 per week or less. If the rental property is over $700 per week, the bond
total amount is not limited and is negotiable between the parties.
- Completion
of the required tenancy documents to commence the tenancy on behalf of the
lessor
o
The
RTA Form 18a – the General Tenancy Agreement
§
This
must be given to the tenant prior to monies being taken
o
The
RTA Form 1a – the entry condition report
§
One
copy must be provided to the tenant on or before the day they take possession. This
is a particularly critical document and the tenant is required 3 days in which
to sign and return a copy with any extra comments. We will forward a copy to
you for your records and discuss any matters if applicable.
o
The
RTA Form 17a – the information statement
§
A
useful resource booklet provided by the RTA that we on your behalf a required
to provide to tenant when giving the agreement for signing (a copy is provided
as part of this proposal package)
o
Body
corporate by-laws (if applicable)
o
Trust
account receipt
o
RTA
Form 2 – bond lodgement form
- Accounting
on behalf of the lessor
o
Payment
of invoices (if instructed)
o
Disbursement
of rental trust funds
- Rent
arrears
o
Daily
rent arrears administration and monitoring
o
Issuing
of required statutory notices as required and if applicable
- Maintenance
negotiation
o
Notifying
the lessor of maintenance (as per management agreement instructions)
o
Communication
with the tenant
o
Organising
a suitable contractor
o
Providing
a work order to the contractor
o
Following
up as required
o
Payment
of invoice
o
Accounting
to the lessor accordingly
- Tenancy
renewals and negotiation
o
Contacting
the lessor to verify instructions such as to renew the lease or to provide
notice to the tenant to vacate
o
Making
the renewal lease offer to the tenant
o
Negotiating
rent increases if applicable
o
Following
up the tenant
o
Tenancy
paperwork – a new Form 18a – General Tenancy Agreement
- Carrying
out general routine inspections during a tenancy
o
Issuing
the required RTA Form 9 entry notice allowing the required statutory time frame
o
Carrying
out the inspection
o
Completing
best practice report and providing it to the landlord
o
Following
up tenants or the landlord as required and if necessary
- Carrying
out the final inspection
o
Statutory
and best practice letter and procedure requirements
o
Inviting
the tenant to the final inspection
o
Carrying
out the final inspection to ensure that the property is returned in the same
condition as it was found – except for fair wear and tear as per Standard Term
37 of the General Tenancy Agreement (section 188 (4) of the RTRA Act. There is
no legal definition for fair wear and tear. It is important to consider and
take into account what will occur at the property with normal living
conditions. The property of course will not be kept in the same condition as it
was when it was first rented and as you have last seen it as over a period of
time usual aging and deterioration will occur. Our reports will keep you
informed of the properties natural progression and any matters that are deemed
damage and not wear and tear will be discussed with the landlord, negotiated
and managed by us with the tenant on your behalf.
37
Condition premises must be left in – s 188(4)
At
the end of the tenancy, the tenant must leave the premises,
as
far as possible, in the same condition they were in at the
start
of the tenancy, fair wear and tear excepted.
Examples of what may be fair wear and tear –
wear that happens during normal use
changes
that happen with ageing
o
Negotiating
any outstanding items such as cleaning with the tenant that may be required to
be undertaken to return the property in accordance with the entry condition
report.
o
Negotiating
and coordinating the bond refund with the tenants in liaison with the lessor.
(C) Real Estate Excellence www.realestateexcellence.com.au
Randomly browsing the good blogs, I went to yours. Truly speaking,I’m sure I’d visit here more often.Great job, keep posting interesting articles here. All The Best
ReplyDeletethanks
Atlanta House For Sale
Build strong relationships with the landlords that you act for. Here are some ideas to help real estate agents and property managers in their management activities serving landlords.
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