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Services That Gold City Realty Provide To You
The property manager will set the right rent level to attract tenants to your property. Many factors go into determining the rent range, the property manager will look at the market trends, evaluate the location in which the property is located and analyse comparable properties in the area that are available for rent.
The property manager will set up a system for collection rent from tenants. To ensure optimal cash flow we will set a date to collect rent and strictly enforce our rent arrears procedure if rent is unpaid.
The property manager can increase the rent each year according to QLD law and market conditions. They can also decrease the rent if we feel it is necessary.
Property managers are responsible for filing vacancies. They will advertise the rental property and create a compelling marketing campaign. We also understand what attracts tenants so we can offer tips to make it look more appealing to a potential tenant.
Screening and Securing Tenants:
The property managers have a consistent screening process. This includes running tenancy checks which can decrease your chances of tenant turnover. Experiences property managers have seen hundreds, even thousands, of tenants, so they have a better understanding of how to select the right tenants; those who will pay their rent on time, have a longer tenancy and create fewer problems.
The property manager inspects your property, at the start, during and at the end of each tenancy. Inspections are conducted every few months to make sure the property is being maintained and being kept in a reasonable as at the start of the tenancy. All records from these inspections are generated and passed onto the owner.
This can include setting the lease terms and making sure that it has all the necessary clauses to protect the owner. We also maintain this documents under legislative requirement and copies sent to all parties involved.
Handling Complaints/ Emergencies:
The property manager may deal with any maintenance request/complaints, noise complaints and handles any emergency situation that may arise during the tenancy.
When a tenant moves out at the end of their tenancy a property manager is responsible for inspecting the house/unit, checking for any damages and determining what portion of the bond will be returned to the tenant. After the vacate, they are responsible for making sure the house/unit is clean, repairing any damages and bringing it back to a letable state and finding a new tenant.
Dealing with Evictions:
When a tenant does not pay rent or otherwise breaches the terms of their tenancy contract, the property manager understands the proper way to file and move forward with an eviction.
The property manager must be aware if the property is in a safe and habitable condition. Property managers are responsible for the physical management of the property, including regular maintenance checks and emergency repairs. This includes performing preventative property maintenance to keep the property functioning in top condition. For example, they are personally in charge of, or must hire someone to, exterminate, check for any plumbing leaks, landscape, trim trees, repair leaking gutters etc. This maintenance aims to keep current tenants happy and attract new tenants.
When there is an issue, the property manager must fix the problem or hire someone else to resolve the issue. They often have a large network of reliable, qualified tradespeople including plumbers, electricians, carpenters and other contractors available to the agency.
Knowledge of Tenancy Law:
Good property managers have an in-depth knowledge of statewide and national laws regarding the proper ways to: Screen a Tenant, Handle Security Deposits, Terminate a Lease, Evict a Tenant and Comply With Property Safety Standards.
Property managers are responsible for making sure that all works done at the property/ies are to the highest of standards. Photos are taken and sent back to the owner in regards to works completed by a licensed contractor on site over a certain monetary amount.
The property manager must operate within the set budget for the building. In certain emergency situations when the occupants (tenants) or physical structure (investment property) are in danger, they may use their judgement to order repairs or likewise without concern for the budget.
The property manager keeps thorough records regarding the property. This includes all contracts, income and expenses; list of all inspections, signed leases, maintenance requests, any complaints, records of repairs, costs of repairs, maintenance costs, records of rent collection, insurance costs or claims, court proceedings etc.