Really appreciate the professionalism and expertise of TRM's management of my 3 properties. My dedicated property manager and/or assistant is readily available and cooperative, should I need their assistance. I feel confident knowing TRM are looking after my properties and my tenant's tenancy needs to a high standard in a very demanding and competitive environment. Meg
Choosing your Property Manager
- Tenant Selection
- Tenancy Agreement Preparation
- Property Vacancy
- Management Fee Structure
Choosing your Property Manager
A Property Manager is someone who you entrust to manage your asset, not just your property. That's why choosing a Property Manager is a serious business. It's no longer a matter of simply selecting the real estate agency with the cheapest fees.
When selecting a Property Manager you need to choose someone who knows the law and can confidently apply the correct legislation where appropriate. You need someone who pays attention to the finer details and continually strives to maximise the return on your investment. Education, ongoing training programs and seminars are all essential elements to ensuring the service you receive is up to date with changing legislation and in line with market conditions.
We place great emphasis on the quality of tenants we supply. The screening of prospective tenants to deem their suitability includes checking past employment, real estate and personal references.
We are very hard to please when it comes to selecting tenants and only those who hold real estate references or bona fide private landlord references will qualify.
Tenancy agreement preparation
Suitable tenants are required to enter into a binding Residential Tenancy Agreement.
Once we have approved an application for tenancy, we ask the prospective tenant to pay one week's rent to secure the property. We then prepare the Residential Tenancies Agreement and all supporting documents such as; detailed Inventories, Entry Condition Reports and Bond Lodgement Forms. The tenant is now ready to sign the Tenancy Agreement.
The tenants must pay a bond equivalent to four weeks rent prior to assuming tenancy. If the rent on a property is more than $300 per week, the bond is negotiable.
We understand that many investors rely on weekly rental payments to meet mortgage commitments. So every endeavor is taken to minimise vacancy periods. However there are a number of reasons why a property may remain vacant.
The rent is too high The market and the tenants determine rent. We are constantly monitoring the market to ensure you are receiving the maximum return on your investment. High rents can lead to long-term vacancies, which ultimately affect your income.
High vacancy rate If there is a high ratio of properties to tenants (more properties than tenants) it will have an adverse effect on the vacancy factor. Tenants have more choices and are in a stronger position to negotiate on rents.
Poor presentation It is important that a property is maintained in excellent condition to attract the best possible tenant. Tenants will often have a choice between several properties, so presentation can be a deciding factor.
Accessibility to local facilities and transport Often the property can be maintained in an excellent condition, the rent is at market value and it still remains vacant. This could be due to its location. Tenants today (due to the supply and demand of properties) can be choosey. Often they require a property that is close to town, shops, clubs, beach, transport, schools etc.
Every endeavour is made to locate a quality tenant to suit your investment property and we will keep you updated on a weekly basis on our progress with obtaining a tenant.
Because many of our investors require a totally 'worry free package', we can arrange to have all accounts relating to your property paid - rates, body corporate fees, landlord protection insurance, electricity accounts and any others that may arise.
Special Note: Should you require us to pay these accounts you may need to contact the organization to authorise the accounts to be sent to our office.
Management Fee Structure
Our fees are competitive! Please arrange an appointment time with our Business Development Manager to discuss the fees in further detail.
Whatever you require - we can arrange it for you!