The Importance of having a Rental Agent
Unlike many other agencies the Rentals Department at VIP Realty is not secondary to the Sales Department. Our rental business is an equal arm of our business & we are passionate about sourcing the highest quality tenants in the shortest period of time to maximise the return our clients get on their investment properties.
We provide the following Property Management Services to our Landlords:
- Actively market, screen, select and process extensive tenancy applications to source a quality tenant for your investment.
- Screen prospective tenants through TICA for any previous history of tenancy default.
- Prepare all leasing documentation and co-ordinate signing by the tenant and agency.
- Prepare detailed condition reports on your investment to ensure that when the property is passed between tenants, the condition of the property and standard of cleanliness is consistently maintained.
- Lodge the required property bond with the Residential Tenancies Authority.
- Set up a progressive payment system of rent collection, provide rental ledgers as required and issue in a timely fashion your property financial statements either monthly or mid monthly or both.
- Undertake the necessary maintenance and repairs on your property in consultation with you, source appropriate contractors and supply written quotes and invoices.
- Facilitate the payment of Council & Water Rates and property insurances as instructed by you.
- Conduct regular external inspections and routine internal inspections as the legislation allows. Provide you with written assessments of the inspection and advise of any concerns as well as tenant feedback.
- Prepare and attend Queensland Civil and Administrative Tribunal as needed on your behalf.
- Assess and advise of changes to the rental market and modify the property rent as required.
- Conduct tenant exiting inspections and prepare the property for re-leasing as per the entry condition report.
Transferring Management of your Investment Property
Transferring management for your investment property to our agency is a smooth and seamless process. Once you have signed a Management Agreement which enables VIP Realty to act on your behalf, we formally advise your current Agent that the property is being transferred to our Agency and request that they make the file available for collection within 24 hours subject to the terms of your existing agreement. There is no cost in the transfer, we will provide you with all of the required documents to make the transfer & we will coordinate the transfer with your existing agency so you don’t even need to speak with them again if you wish.
Once the property has been transferred, we make contact with your tenant to introduce ourselves as their new Agent, explain our office procedures, and make a time to meet in person.
Management of your Investment Property
We have an excellent relationship with an extensive and preferred list of contractors, who through regular use and loyalty keep their costs as competitive as possible, without compromising on the quality of the workmanship. Under current taxation law some works undertaken as repairs and maintenance may be allowable as tax deductions. However, you are most welcome to advise us of your preferred tradesman to carry out works at your investment property.
Our focus is to source the best quality tenants and usually have a list of quality, pre-approved tenants waiting for properties. By selecting the highest quality tenants we minimise the risk of issues occurring during the tenancy.
During the tenancy we focus on ensuring your property is maintained to a standard that preserves the future capital value in the event you wish to sell your property. Choosing the wrong tenant or selecting a property manager who is not diligent in inspecting your property regularly will most certainly cost you money down the track when it comes time to sell your investment.