Management Brochure

Choosing the right real estate and property manager for you and your investment can be hard work!

Our experienced local property management team provides great service, knowledge of the area and surrounding environment and someone who will care for your investment property as if it where our own.

Property management requires someone that has an attention to detail, is experienced in all areas of property management, keeps updated with changing legislation knows the surrounding area that your property is in.

Wise Property Management Services has built a loyal property management portfolio by providing our clients with all the requirements mentioned above. To have your property managed by someone who cares, contact Wise Property Management Services today for a free no obligation rental market appraisal.

Preparing your property for leasing…..

It is recommended that you have a property manager from Wise Property Management attend your property to provide you with a free market appraisal and to advise you of any recommended requirements for your property. Such as requirements for smoke alarms, safety switches or fencing that you may not be aware of.

Those properties that are best presented are those that receive best rental income and attract the best quality of tenant. Some examples are:

• To keep exterior surroundings of your property in best condition eg. Presentable lawns, pruned gardens, cleaned concrete areas, gutters cleaned
• Have floor coverings and curtains cleaned and in a good condition

Once you have made the decision to join Wise Property Management you will be required to complete a Form 20A (Appointment to Act). You are welcome to have a property manager help you when completing this document. Please ensure that you have read all of the Essential Terms and Conditions listed in this document. This document is a requirement by the Office of Fair Trading and must be completed prior to a property manager listing your property ready for lease. A copy of this document will be provided to you once it has been signed by all parties involved.Insurance…..

• It is very important to have your investment property fully insured. It is recommended that you discuss with your insurer the best policy for you. Wise property management can provide you with some information to assist if required. The following insurances required are:

• Public liability insurance is required for a minimum of $10 million.
•  Building & contents insurance. Covers all internal fittings and fixtures.
• Landlord Insurance – covers loss of rental income & malicious damage caused by thetenant.
  Following are some insurers that you may wish to start with.

Marketing your investment property

It is recommended that you have your investment property listed for rent as early as possible to give time for feedback within the rental market and to have time choosing the right tenant for your property.

If your property is still being built or in refurbishment stages, your property can still be advertised with a completion date. The renter is often looking for properties earlier than required. The environment of Cairns finds that many people are transferring to Cairns and are enquiring from interstate. Note: Your investment property will not be advertised until you have received and confirmed your copy of the completed Form 20A.

There is a range of marketing tools that Wise Property Management use to have your property vacant for the least possible time. Wise Property Management likes to pride ourselves in the presentation of marketing material for all our rental properties. A property manager will arrange to take the photo’s for you at a convenient time to have the property presented at its best. A description of your property is then completed and confirmed with you, if requested. This is an extra service that is offered by Wise Property Management so you know how your property is being presented.

• Your property will be listed on our website www.wisepm.com.au and on www.realestate.com.au
• Cairns Post newspaper advertising
• Property Signage – A Wise Property Management FOR RENT sign will be displayed atthe front of the property, offering a phone number for interested applicants driving in the area.
• Flyer – When your property is vacant a flyer is delivered to the houses within thearea. The people in your area might know of a person wanting to move to the same location and this is also seen as a safety net for neighbourhood watching and the safety of your vacant property.

Wise Property Management understands that you might find the vacancy period to be an anxious time. We offer to keep continual communication with you by providing regular updates of possible interested applicants and feedback regarding your property.

Keys are not provided by Wise Property Management to any potential tenants. When a potential tenant is interested in your property, arrangements are made to have them or a person on their behalf, escorted through the property. This provides a personal inspection for the potential tenant whilst gaining information of their needs for your property.

Finding the right tenant for your property…..

It is our requirement at Wise Property Management to provide you with a suitable tenant that you will feel comfortable having within your investment property.

Our strict selection criteria is advised to all applicants so they understand what type of tenant Wise Property Management Requires.

• -  Positive 100% Identification check
• -  Good tenancy record, both past and present.
• -  30% of gross income to prove ability to pay rent.
• -  Good references, employment and personal.
• -  Provide next of kin details for emergency contact.
• -  Have a good attitude to renting
• -  Not be listed on the TICA commercial database.All details on the potential tenant’s application are disclosed with you so a decision can be made about the applicant possibly renting your property, the lease commencement date and the rental amount being charged. If you decide not to approve the applicant, you are not required to give any reason.

You can now rest at ease. Your property manager will do the hard work from here. General Tenancy Agreement and rental information is competed and given to the tenant. A copy of the General Tenancy Agreement is issued to you once signed by both your property manger and the tenant.

An Entry Condition Report is completed, making notes about the interior and exterior of the property and noting a water meter reading if the property is individually metered. The tenant will be given this report to also add their details if required. The property manager will confirm any amended changes and the completed report is kept on file with Wise Property Management. This Report will be used when completing the final inspection at the property.

A bond, equivalent to four weeks rent, and 2 weeks rent is collected from your tenant prior to release of the property keys. A full set of property keys are required for each tenant approved and a full set to remain at our office. The bond is lodged and kept with the Residential Tenancy Authority (RTA) for the term of the tenancy.

Routine inspections are completed by a property manager during the term of the tenancy. Legislation approves four entries within a twelve month period. Wise Property Management offers a service of completing the first routine inspection after the first 8 weeks of the tenancy commencing to ensure the property is being maintained in a satisfactory condition. Further inspections then follow every 3 months after. A routine inspection report is provided to you noting the condition of your property and any maintenance requirements or recommendations.

Maintenance – Wise Property Management likes to ensure that all properties managed are adequately maintained. Wise Property Management Offer the service of contacting you prior to commencing any maintenance that is to be completed at your property, unless you advise otherwise. In some cases an Emergency repair may be required. The discretion of this will be made by Wise Property management, keeping in order with the Residential Tenancies Act. You would then be advised of the repair at a suitable time. There are different terms for general maintenance and emergency maintenance. Please refer to the Terms at the back of the Form 20A for more details regarding this.

Wise Property Management ensures to have only licensed qualified tradesmen attending to maintain our properties. Should you require your own tradesperson to attend for maintenance; this person must be a qualified, licensed person for the required repair and complete a contractor’s document for Wise Property Management.

Gardening – is not a requirement of the tenant. The tenant is responsible to maintain the lawns and garden; however you, the property owner, are responsible for the pruning of trees and other plants. It is important in keeping the property in its best presentable condition.

Swimming Pools and Fencing – are best to be maintained by a qualified pool technician. Terms of servicing the pool will be advised by the pool technician. Pool equipment is an expensive investment, it is not recommend that tenants try to maintain. The expense of the pool maintenance would be an expense to you, the property owner and pool chemicals will be added an expense to your tenant. Should you decide to have the tenant maintain the pool, a letter must be signed by both parties agreeing to do so. It is a legal requirement for pool fencing to be erected around the pool. Please check with council legislation regarding these requirements. A certificate of approved certified pool fencing is required upon commencement of management by Wise Property Management. A CPR sign must be visible within the pool area and the pool gate must open outwards and be self closing. Wise Property Management will provide a “KEEP OUT” sign whilst the property is vacant to prevent any possible claims. An extra service provided for you at no additional cost.

Rental arrears – are viewed daily and managed in accordance with the Residential Tenancy Act. Tenants are advised by text message if their rent is behind after 4 days. Should their arrears not be corrected, a Remedy Breach notice is issued to the tenant after 7 days. Should further notices be required.

Tribunal hearings - There are occasions when a tribunal hearing is required for rental arrears or tenancy disputes. Wise Property Management is experienced and knowledgeable on the proceedings with tribunal court to best present the claim, on your behalf.

Ending the Tenancy…..

There are many different reasons for ending a tenancy. When it comes time for the General Tenancy Agreement to be renewed, contact is made with you to discuss future options. Your property manager will help guide you with this decision. If you decide to continue the existing tenancy you will need to discuss the length of the new tenancy agreement to be in place and the rental amount in question, as an increase may be warranted. All new documents signed are provided to you.

If it is decided by either party to end the tenancy, it is required for a notice to be provided in accordance with the Residential Tenancy Act.
A vacate inspection is completed by Wise Property Management on the return of property keys and remotes. Details of this inspection are discussed with you prior to any bond monies being returned to the tenant.