You're looking for a Property Manager that will really care about your investment home?
You're not just another property owner.
You want to put the worry of your investment home in the hands of a professional?
You'll feel that having an investment property is a breeze.
You will want to appoint an agent that you like... right?
We know you'll like us.
Our Property Management services will have you feeling confident your investment is being loved... just as if it were our own home.
Kingsberry Property Manager's keep your home, tenants and YOU happy. Simple.
I want to know:
- The Property Management Process (Including the forms required, tenanting your home, what happens in circumstance of arrears/vacancies, etc).
- How to prepare my home for rent
- Property Management fee structures
- How to transfer management from another agency
- How to appoint Kingsberry Property as my Property Managers
1. The Property Management Process
What's the first step? An appraisal of your property.
This means having an agent coming to your investment home, and advising what rental income you should expect to receive once the property is tenanted. This is obligation-free. That means we won't pressure you to appoint us.
If you do decide to appoint Kingsberry Property as your agent, (a great move!) you will be assigned a dedicated Property Manager who will be your one and only point of contact, (that means you won't be passed around the office between various people). We will then prepare the management documents, (PAMD Form 20a). This agreement will outline:
- How much you wish us to list the property for rent at
- Our management fees
- How you would like us to pay you
- Whether or not the tenants are allowed to have pets at the property
- What sort of inspections we are to carry out on the property
- Who pays for what? (E.g. some owners may choose to include lawn or pool maintenance in the cost of the rent)
- Whether you want us to arrange smoke alarm inspections and maintenance programs on the property.
- Whether you have preferred tradesmen to carry out work on the property, or if you are happy to use one of the Kingsberry Property preferred tradespeople when required.
- What you would like us to do in the event that the property becomes vacant.
Once the formalities are out of the way, it's time to get tenants into your investment home, (and start making you some money!). This is done through advertising of the property for rent to prospective tenants. The marketing includes signage on the property, internet and Townsville Bulletin advertising.
Next we select who would be best suited for your property. We have strict criteria that a tenant must meet, (and by strict... we mean STRICT). We want the very best tenants for our properties - and always make sure we perform... each and every time.
Once tenant selection has been completed, the tenanting formalities begin. This means the tenant/s enter into a fixed tenancy agreement, with a requirement to pay the first two weeks' worth of rent and 4 weeks' worth for the bond. We will also prepare a detailed entry condition report prior to the commencement of the tenancy.
Next, you start receiving rental income. This will occur on the same day every month.
After your home has successfully been tenanted and you start getting returns - keeping your home in order is the priority. This requires regular inspections which we carry out on your behalf up to 4 times per year. These inspections are to ensure your tenants are looking after your investment. Inspections also give us an opportunity to see any maintenance that may need to be carried out, followed by a report given to you.
If your tenant/s go into rental arrears, (where their rent payment/s have not been received by us by the due date), we will work to solve the issue quickly. Sometimes it is a simple oversight. Regardless - we will:
- Call and/or message your tenant to determine the situation in the first three days, and work at resolving the situation quickly.
- If, after 8 days, payment still has not be received, we will issue your tenant with a notice to remedy, which gives them 7 days to address the problem.
- If your tenant has not rectified the problem after this time, we will issue your tenant with a notice to leave, which gives them seven days to vacate the property.
- We will contact you for advice on whether, if your tenant recovers the situation before the notice to leave is final, you still want us to evict the tenant/s or if you are happy for them to stay.
- If your tenant does not leave after the notice to remedy we will apply to the courts for the tenancy to be terminated (but rarely would it come to this!)
What if my tenants decide to leave? We will look at the lease dates and see whether the tenancy period has finished. If so, we have the tenants fill out a notice of intention to leave, which states the vacate date (giving minimum two weeks' notice) and provide them with a list of responsibilities they have such as general and carpet cleaning, pest treatment, lawn maintenance, etc in order to vacate.
We will then contact you, the owner, and advise that the tenant is vacating. We will take direction from you as to what you would like us to do.
Once the tenant has vacated the property, one of our Property Managers will complete an inspection of the property and take note of anything that the tenant will need to rectify (along with noting any items that may be of a general maintenance nature).
If there are issues we identify, we will firstly give the tenants a chance to remedy the situation (for instance, the issues may relate to minor cleaning works which the tenants can attend to). If these issues are not addressed to our satisfaction, we will then begin the process of trying to claim monies from the rental bond. We will also require tenants to provide receipts for such items as carpet and curtain cleaning in order to prove they have been completed.
If the property is to be re-tenanted immediately, we will begin advertising the property to quickly re-tenant it.
2. How to prepare my home for rent
There are legal requirements that your property must meet in order to be tenanted. These include:
- The property has a working safety switch installed
- The smoke alarms have been serviced and are in good working order
- Have a regular maintenance program in place
- If the property is lucky enough to have a pool, a pool safety certificate has been obtained.
We also recommend that any maintenance is completed, such as leaking taps, faulty switches or other problems. Any safety issues need to be addressed also.
Don't worry if you are unsure... we are able to inspect your property and give you an idea of what might need doing.
3. Property Management fee structures
What is the weekly income from your property?Enter the weekly rent you would expect your property to achieve. | $320 per week. |
What is the real cost of Kingsberry Property management? | ||
| Annual rental income (based on an annual occupancy rate of 51 weeks) | $16,320 | |
Kingsberry Property Flat Rate Management Fee'sKingsberry Property Fee's are inclusive of ALL your property management expenses. These expenses include such items as rental collection commission, management fee's, monthly administration costs, letting fee's, advertising expenses and renewal of lease fee's. When you appoint Kingsberry Property as your managing agents you can be confident that there will be NO hidden expenses. | 12.00% | $1,958 Includes GST |
What would you generally expect to pay for Property Management in Townsville? | ||
| Rent Collection Commission | 5.00% | $816.00 |
| Management Fee | 3.50% | $571.20 |
| Monthly administration costs | $6.00 | $72.00 |
| Letting Fee (Equivelant of one week's rent) | $320.00 | $320.00 |
| Advertising (Townsville Bulletin and Internet) | $50.00 | $50.00 |
| Minimum Charge Per Annum | $1,829.20 Ex GST | |
| Plus GST | $182.92 | |
Minimum Management charge per annum | $2,012.12 Includes GST | |
| Potential Additional Charges: Tribunal Appearance Fee's $55/hour Additional Advertising Unknown Renewal of Lease fee's |
4. How to transfer management from another agency
You may be unhappy with the property management you are currently receiving from another agent, but may be apprehensive about switching. Don't worry... it's a breeze.
We will give you a new management agreement which appoints Kingsberry Property as the managing agents of your property.
We will then prepare a letter which advises the other agent that we will be taking over management of your property.
All you need to do is sign it, and we can forward it on your behalf.
The management agreement held by the original agent will stipulate a notice period which is required to be given before management of the property is handed over. This is generally a minimum of 30 days, or can be as long as 90 days.
After the notice period has been served, the original agent will hand over all requirements, (i.e. keys, tenant ledgers, maintenance contracts, warranties etc.) to Kingsberry Property.
Once handover is done - you can feel good knowing you and your property will be looked after.
5. How to appoint Kingsberry Property as my Property Managers
Contact us (right now!) via any of the below and we will arrange a meeting. Simple.
Phone: 4772 2022
Email: admin@kingsberryproperty.com.au
Visit us: 108 Charters Towers Road, Hermit Park.