RENTALS

This is a report that is compiled at the commencement of a tenancy prior to your tenant moving into the property. This report outlines the condition of the property at the commencement of the tenancy and is used when the tenant vacates to ensure that the property is left in the same condition.

This is the last inspection carried out as soon as possible after the end of a tenancy, when the tenants have returned their keys. The Property Condition Report is used at this inspection and each item is checked off to make certain that the property is in the same condition as when the tenant took possession. It is at this inspection that any items that need to be rectified by the tenant are identified.

Routine inspections are conducted after a tenant takes possession of the property and are conducted every four months. These inspections are essential to ensure that your property is being maintained to an acceptable standard and to identify any maintenance that may be required. A copy of the routine inspection report is forwarded to you after each inspection and should it be necessary, a member of the PretendFN5 Property Management Team will contact you to discuss items noted on the report.

When a tenant falls behind in their rental payments they are issued with a notice of breach advising them that they are behind and requesting that they rectify the problem. If this is not done within the stipulated time period then a termination notice is issued requiring that they vacate the premises.

Tenants have several options to pay their rent, leaving no excuse for late payments.

• By cheque or money order
• Internet Banking through their chosen financial institution
• Direct debit from their nominated bank account, we will supply the tenant with our account details to arrange an automatic transfer.

Most experienced property investors use property managers. Why? Because they make you money.

Property management isn't just about collecting rent. It's about ensuring your property is always rented, ensuring you have the best possible tenants, and ensuring you're getting the best possible rent. It's about keeping the property well maintained, tracking expenses and income, and dealing with the legalities of leases and the rights of tenants.

This is what property managers do. It's their core business. For a landlord, the benefits are significant.

SAVE VALUABLE TIME: The most obvious benefit is time saving. You don't have to spend hours each week making phone calls, placing ads, interviewing prospective tenants, speaking to solicitors, speaking to tenants, collecting rent, organising tradesmen and so on. How much could you earn in an hour if you were focusing on your work rather than chasing your tail?

KNOW YOUR MARKET: Property investment is a business. To succeed in business, you need to know your market. Property managers make their living out of knowing the rental marketplace. They know how much your property is worth and who will want to rent it. They know the best ways to reach the market and they have the resources to do it. A property manager with some real marketing can earn you thousands every year, just with an intelligent marketing campaign.

KNOW YOUR RIGHTS: Rental legislation is constantly changing. It's important that you know your rights as well as the rights of your tenants. But most people don't even know where to start looking. Property managers work with tenancy legislation every day. They know all the ins and outs, as well as the pitfalls and loopholes. They are experienced in all aspects of lease negotiation - from bond to maintenance agreements to eviction. Most importantly, they will protect your rights as a landlord.

GET GOOD TENANTS: Most good tenants will only rent through property managers. The whole process is much more streamlined and convenient. Payments can be made electronically, their questions can be answered quickly, and everything can be done during business hours. The opposite is true of bad tenants. They target privately managed rentals, because that's generally all they can get. Property managers chase down and validate every reference, and they get to know problem tenants. They do everything possible to provide you with a hassle-free investment because they know the evictions process is every landlord's worst fear. You can't just kick someone out without notice. The whole process can take months. But if you're unlucky enough to end up with a problematic tenant, a property manager will manage the whole eviction process - including all dealings with tenants, sheriffs and court officials.

Sure you can juggle all of these elements yourself, and you'll save yourself a small management fee... but at what cost? Do you want to work for your investment or do you want it to work for you?

Contact Michelle Jones