Ray White_Know How to answer the 10 questions you should ask yourself before you handover one of your biggest assets
At Ray White Dubbo we tick all the boxes.
Our policies & procedures are designed to protect and increase the wealth in your investment property.
Ray White_Know How to streamline the process – what happens next…
The time line
You can expect that it may take 2-3 weeks between you signing a Managing Agency Agreement with Ray White Dubbo and a tenant physically moving in to your property.
Preparing your property
Meeting the market expectations is paramount to securing quality tenants and maximizing the rental return. Ray White Dubbo aims to remove the stress of preparing your property for rent. Providing expert knowledge on where to spend money and what details to focus on, you Property Manager will meet you at your property to advise if or what work needs to be undertaken.
Marketing your property
Take advantage of our complimentary marketing package which includes photos, descriptive copy and internet listings. Your property will be featured on www.raywhite.com plus 10 other websites such as domain.com.au, realestate.com.au and rentfind.com.au. We send out a weekly e-mail update to our database of prospective tenants, a prominent For Lease sign will be erected on your property creating extra exposure, your property will be listed on our Vacancies List, in our Window Display, newspaper advertising and 50 homes in your neighbourhood will be letterbox dropped advertising your property to rent.
Our Leasing Consultant will personally search our active database of prospective tenants to source a quality tenant for your property. Prospective tenants can also subscribe to receive property alerts for all rental properties.
Prospective Tenant Inspection
Our full time Leasing Consultant conducts inspection of homes six days a week to provide maximum exposure for your property to source the best possible tenant in the shortest period of time. Inspections are held by advertised Open Home and by private appointment with the Leasing Consultant present for the duration of the inspection.
A vacancy period can be stressful, so our Property Manager will keep you informed and updated with any activity on your property and changes in the market.
Tenant References and Application
Stringent tenant selection is the key to responsible property management and all references are validated. We apply a 100 point ID check and cross check all applicants against a national tenancy database (TICA). Details relevant to suitability are also confirmed with employers and previous managing agents. We do not hesitate to reject applications where there is any concern and your Property Manager will provide you with feedback throughout this process.
As a secure tenancy is the cornerstone to your investment success, your Property Manager will ensure all tenant documentation is compliant under the Residential Tenancies Act and addresses all aspects pertaining to your property. An integral part of the agreement is the Condition Report which is a detailed report on all aspects of your property including paintwork, floor coverings, cleanliness etc and notes on any pre-existing damage. Your Property Manager will take the photos of your property before the commencement of the lease to accurately reflect the property at the lease commencement.
Agency Authority and Insurance
You will sign a Managing Agency Agreement to allow us to manage the property on your behalf. We strongly recommend you take out Landlord Insurance which should cover public liability, malicious and accidental damage, loss or rent and landlord contents eg. carpet, light fittings. As some insurers provide less cover than other, it is important to research well. You can contact us to obtain further information about specific insurance policies that may suit you.
Ray White_Know How provide exceptional ongoing service…
Your dedicated Property Manager
Assigned to your property portfolio is your dedicated Property manager who is supported by a team of specialized staff in Leasing and Accounts to ensure your investment is well looked after.
Your Property Manager will provide you with a reliable point of contact and will ensure no detail of your property is overlooked. They will be responsible for the day to day managmenet of your property including rent collection and review, all communications, inspections, repairs and maintenance.
Collection and payment of rent
All rent is transferred into your bank account on the 15th and 29th of the month unless these days fall on a weekend or a Public Holiday then it is disbursed the last working day prior. We also now offer Daily Disbursements at a cost of $2.20 per disbursement. This means that what ever day your tenant pays rent to us, we can disburse straight to you. Having the funds in your account sooner means you could potentially save thousands in interest repayments.
Ray White Dubbo uses Payment Gateway to deduct rent on behalf of our tenants which means that all funds sent to us through this system are Cleared Funds. We also accept bank cheque or money order and are equipped to receive Centrepay payments. We enforce a zero tolerance policy with all tenants in relation to rental arrears.
You will receive a monthly statement showing your tenant’s rental payment, any expenses paid on your behalf along with copies of any invoices paid. In addition, a Financial Year Statement is provided at the end of each Financial Year to assist in the preparation of your taxation return at an extra expense.
Your property will be set up with a file on our Google Drive. We will give access to your e-mail address to view any documents regarding your investment (Managing Agency Agreement, Tenancy Agreement, Ingoing Report and Photos, Routine Inspection Reports, Invoices etc).
A monthly newsletter with legislation changes, property new and maintenance reminders is also provided. In addition you will receive a subscription to our Quarterly Market Review specific to your investment property and surrounds.
Regular routine inspections
An initial inspection is conducted three months after the commencement of a new tenancy. Inspections are then carried out on a case by case basis as agreed with you but usually 6-9 monthly. Our landlords are invited, giving you the opportunity to attend these inspections and view your investment property. Reports are conducted and generated via industry designed Ipad App technology, and are e-mailed for your viewing. These reports include photos and document the overall condition of the property, any excessive wear and tear, as well as identifying any maintenance or suggestions for capital improvements to your property.
Repairs and maintenance
Your Property Manager will facilitate repairs and maintenance through a team of qualified and trustworthy tradespeople who have a long term relationship with Ray White Dubbo. You will be contacted for any repairs and maintenance items unless otherwise authorized and arranged with your Property Manager. Where required, well organize quotes and keep you informed of the progress. Arranging repairs and maintenance promptly and efficiently will ensure a well maintained property, a happy tenant and reduced vacancy periods.
Payment of Expenses
Ray White Dubbo will organize payment of all your expenses including repairs, strata levies (if applicable), council and water rates. Details of these transactions and copies of invoices are attached to your monthly statement. In addition we also provide a consolidated end of Financial Year Report for your accountant.
Rent Review and Lease Renewals
To ensure your property achieves maximum returns, all rents are reviewed at each Routine Inspection by your Property Manager as well as each change of tenancy. Lease renewal communications will occur within the last 90 days of the fixed term tenancy. Your property Manager will contact the tenant to find out their intention regarding lease renewal and we will then contact you to discuss.
If you are ready to have the conversation about your invesment property management, we would love to assist so please contact Debbie O’Connor today on 0418 978 546 or email firstname.lastname@example.org.