Service
Landlord Information
Property Management Excellence
One of the main advantages of using a professional to manage your investment property is peace of mind. Qualified Property Managers know the marketplace ensuring you receive maximum returns on your investment. They also have an understanding of relevant legislation and paperwork that is required under the Residential Tenancies Act. The world of property management can be quite complex with legislation affecting the everyday workings of a tenancy and lessor relationship. For example: the Privacy Act, Anti-discrimination Act, Trade Practices Act, Property Agents and Motors Dealers Act and the Residential Tenancies Act. Using a professional agency such as Engel & Völkers to manage your property alleviates you from the pressure of having to deal with tenancy issues. Property Managers negotiate rents and leases on your behalf, sign and complete all documentation required by legislation, attend to maintenance issues, organise quotes, complete routine inspections (with your consent), attend to the payment of maintenance accounts, disburse funds to you monthly or twice monthly, provide you with a written financial statement of your rental funds, complete final inspections when your tenants vacate, plus a range of other activities. There are many functions of property management that are required to be done that a private lessor may not be aware of. The skill and expertise of an agent will reduce the risk of non-compliance with the Act and save you as the investor from facing the possibility of financial penalties through non-compliance.
Engel & Völkers Vision & Mission
Our vision is to become the Partner of Choice for all clients who have a premium property or a service related requirement. Our Mission is to ensure that we are Always Doing Our Best, for our Customers, Partners, each other and the Community in which we live.
Engel & Völkers Sets the Highest Standards
We combine the capabilities of our highly competent team with our world-wide network under our expanding international master brand.
Our strength is based on the in-depth training of our employees, on constantly updating information and on continuous knowledge transfer within the company.
Whether you want to buy, sell, rent, invest or develop a project, whether it is acquiring prime land, a fairway golf home or a turnkey property, renovation or new construction, villa, condominium, apartment, principal place of residence or holiday home – our portfolio is extensive and high class.
Discretion as well as protecting the interests of our customers is an important principle for us.
Ultimately our brand’s success will also be due to these values. Engel & Völkers firmly counts on innovation, co-operation, professionalism, reliability and integrity.
Engel & Völkers Service Concept
In addition to our activities as agents, our services also comprise in-depth consulting services for our customers.
In particular, our international capability includes the sale and purchase of residential properties, rental management, project development, land acquisition, revitalisation of portfolio properties, consultation in contractual matters as well as the strategic development and optimisation of existing portfolios.
Why choose Engel & Völkers?
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Innovation and tradition
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Precise realisation of market movements and trends
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Highly personalised service
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Clear and consistent corporate identity
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Standardised corporate design
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Our own specially designed training and sales systems
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Concentration on selected target groups
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Prominent office position attracting walk-in rental enquiries
Marketing success means you are represented by a dynamic team that finds tenant(s) for your investment property...And finds them fast!
As well as actively reaching out to source tenants, we utilise a myriad of marketing methods to secure the best tenants.
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Finding the best tenants for your valuable investment property is supervised by our specialist Property Manager;
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Our Property Manager will ensure your investment is advertised and presented perfectly for finding the right tenant for you;
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Our office receives a high volume of tenant enquiry due to our location and property display;
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Engel & Völkers will expose your property to the widest possible number of prospective tenants via every available resource.
Upon signing the ‘Appointment of Agent’ form, we provide the following to advertise your property free of charge.
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Advertising on Engel &Völkers website
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Direct e-marketing to our extensive database
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Full colour flyer listed in our office window including photos
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Detailed rental list including photos of your property
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Large property signboard (600mm x 900mm)
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Internet advertisement on the most used websites
Your investment working for you:
Our goal is to increase your income and ensure your investment is working for you. We ensure you receive the highest possible rent by regular assessments that take into account current market rents of similar properties, the area’s vacancy rate, condition of the property, quality of tenant and length of tenancy. We also offer advice on how best to present your property and tips to increase potential in the future.
$$$ in your account:
Our fully electronic banking facilities provide tenants with easy rent payment options straight into our bank account. We encourage and educate tenants to pay their rent on time every time. However should a tenant make a part payment or fail to make a payment by the due date, we are aware of it the same day as part of our daily management routine. Prompt action follows in accordance with the Residential Tenancies Act keeping you informed throughout the process.
Accounting to you:
Each month we forward you an itemised statement showing all rental income and payments made on your behalf. We electronically deposit your income as cleared funds directly into your nominated bank account. You may choose to receive payments once a month or bi-monthly.
As an additional service, you may wish Engel & Völkers to pay nominated accounts out of your rental income such as rates, body corporate fees, insurance, etc.
Communication:
We understand that our communication is the key to our successful relationship with you. You will be promptly updated regarding any matters involving your property. We will contact you via your preferred method, whether it is email, phone or post.
Landlord protection insurance:
There are a number of companies that offer Landlord Protection Insurance. It is just a matter of choosing the right one. Most policies cover you for loss of rent, malicious and accidental damage along with other advantages. We strongly recommend that you take out a policy. Please do not hesitate to discuss this with our Property Manager about arranging a cover for you.
Managing Your Investment – The Engel & Völkers Way
Finding the right tenant for your investment:
It’s our responsibility to find the most suitable tenant for your property. Our selection criteria is extensive and detailed and must adhere to a strict code of conduct. We will keep you updated through every step of the way during the application process. After thoroughly checking and processing any prospective tenant(s) application, the final decision is up to you.
Your property’s security is our priority:
Unlike many other agents, the keys to your property are not handed out to prospective tenant(s). We don’t take that risk with your investment. All property inspections are made by appointment with our Property Manager to personally show your property.
Entry & exit reports are our key focus:
Before any tenant(s) moves into your property, our Property Manager will complete a detailed Entry Condition Report with a carefully detailed report. You are welcome to attend when our Property Manager conducts this report and you are welcome to receive a copy of the report. We take photos at the beginning and at the end of the tenancy ensuring your property is in the same condition (fair wear and tear considered). The tenant(s) bond is only disbursed appropriately after a thorough exit inspection.
Thorough documentation:
At the time of signing the General Tenancy Agreement, we educate and advise the tenant(s) of important aspects of the Tenancy Agreement and the property itself. We take care of all the required documentation and bond lodgement to ensure a seamless tenancy. We also supply the tenant(s) with important information regarding their responsibilities and obligations. We constantly update landlords and tenants with any important changes to legislation and/or other situations to keep them promptly informed.
Routine inspections:
We take care of your property’s maintenance and repairs as if it were our own. The purpose of the inspections is to ensure the tenant(s) are caring for your investment responsibly and to also advise you of any preventative maintenance or refurbishment suggestions that may be beneficial to the property. Owners can then forecast and budget accordingly for any upgrades required for the property as suggested in the report. As the owner you are welcome to attend routine inspections with our Property Manager.
Maximising income:
Neglect of minor repairs can often lead to major expenditure and the loss of good tenant(s). Our prompt attention to any maintenance issues that arise will ensure the problem is resolved quickly by qualified tradespeople and at a reasonable price with a pre determined limit set by you. Our Property Manager will also keep you up to date with current market trends and rent increases.
Service, savings and reliability:
We have a large pool of highly skilled, fully licensed tradespeople who can get the job done quickly and professionally at the right price. Of course, should you have your own preferred licensed tradespeople you wish to use; we will liaise with them on your behalf to ensure completion of any maintenance issues.
Log-in access to your account:
As we operate from an advanced computerised system, each landlord can access the details regarding their property in real time. Should you wish to take advantage of this free service, please advise our Property Manager to set up a password for you so you can view your account from the privacy of your own home.
Preparing Your Property
Prior to advertising your rental property, the following points need to be undertaken:
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A Management Agreement is required to be signed by all parties prior to advertising your property. An ‘Appointment of Agent for Property Management’ is an Exclusive Agreement.
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Three full sets of keys are required to be supplied to our office. Two full sets will be provided to the tenants and one full set is kept in our office.
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A certificate of insurance is to be supplied to our office to show adequate public liability (minimum $10 million), building and contents insurance. Please note your contents cover should include carpets, blinds and other fixtures such as dishwasher, dryer, etc.
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A certificate of Landlord Protection Insurance is to be supplied to our office.
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Have the property treated to control pests annually.
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Thoroughly clean the property internally and externally.
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Supply smoke alarm inspection certificate.
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Supply pool fence inspection certificate (if applicable).
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Supply copies of carpet and blind/curtain cleaning receipts (if applicable) for our office file.
Selecting a quality tenant is the most important aspect to protecting your investment property. We require strict criteria to be met when a tenant is selected for your property and utilise a thorough screening process for each rental applicant. We ensure we communicate each application with you thoroughly. We use our refined skills and database resources to achieve the best possible tenants at the greatest price for your investment.
Time is taken to screen each application. We ensure we check and confirm the following details of the applicants.
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Credit check via the Tenancy Information Centre of Australia (TICA).
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Previous rental history
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Employment details
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Proof of income
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Business references (if self employed)
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Copy of financials / accountants report (if self employed)
Routine Inspections
“Regular routine inspections are to ensure tenants are upholding their tenancy responsibilities. These inspections are performed in a manner in which we do not inconvenience tenants that are exercising a high level of responsibility with their tenancy “
As a guide for your reference, the amount of notice needed depends on the reason for entering the premises. The minimum notice periods are:
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To inspect the premises - seven days (lessor/agent allowed to enter no more than once in a three month period, unless the Tenant agrees)
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To complete routine repairs or carry out maintenance - 24 hours
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To repair or carry out maintenance where the premises is in a remote area and there is a shortage of qualified tradespersons in the area - no notice
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In an emergency, or to protect the premises from damage - no notice
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If the lessor/agent believes that the premises is abandoned - 24 hours
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To show the premises to a prospective Tenant or buyer or for valuation purposes - 24 hours ( if the property is for sale, a Form 10 - notice of lessor's intention to sell must have been issued)
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By order of the Small Claims Tribunal - as stated in the order.
Repairs & Maintenance
“A well maintained property is easier to relet and in the long term more cost effective”
General repairs and maintenance are a very important issue when managing a rental property. Engel & Völkers engages many varied tradespeople to attend to maintenance and repairs. All of these tradespeople are required to hold a license specific to their trade as well as a current insurance policy. You may choose your preferred licensed tradesperson if you wish. We recommend you approve us to spend up to $200 in the event we need to attend to any ‘emergency repairs’ that may occur after hours without delay. As soon as the fault is reported to us we will make every effort to contact you immediately and have the matter rectified as soon as possible. Please note under the new Residential Tenancies Act emergency repairs up to the equivalent of 2 weeks rent can be carried out by the tenant without the approval of the agent or landlord.
For your reference, we have highlighted a variety of situations that are considered emergency repairs.
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A burst water service
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A blocked or broken lavatory service
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A serious roof leak
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A gas leak
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A dangerous electrical fault
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Flooding or serious flood damage
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Serious storm, fire or impact damage
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A failure or breakdown of the gas, electricity or water supply to premises
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A failure or breakdown of an essential service or appliance on premises for hot water, cooking or heating
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A fault or damage that makes premises unsafe or insecure
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A fault or damage likely to injure a person, damage property or unduly inconvenience a resident of the premises
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A serious fault in a staircase, lift or other common area of the premises that unduly inconveniences a resident in gaining access to, or using the premises.
Rent Arrears
Following our stringent and careful tenant selection process we minimise the level of rental arrears. However on occasion, due to changing circumstances a tenant can fall into rent arrears. A very strict process then follows. This process has been outlined by the Residential Tenancies Act.
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A couple of days in arrears – a phone call advising them that they are in arrears;
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Day 5 of rental arrears a warning notice of impending remedy breach if rent is not paid in full by day 7;
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Day 8 of rent arrears – ‘A notice to remedy breach’ is issued. This is to allow 7 clear days for a tenant to pay all rent arrears;
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Day 15 – ‘A Notice to Leave’ is issued. This allows 7 clear days for the tenant to either pay all rent arrears in full or vacate the property;
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Day 22 – If the tenant has not paid rent in arrears or vacated the property a court notice is lodged with the small claims tribunal marked urgent and is usually heard within 7 days.
T.I.C.A.
Engel & Völkers is a member of TICA (Tenancy Information Centre of Australia). TICA is a database to record tenants that have or do default under the terms of their tenancy agreement. Tenants are only placed on TICA if they have outstanding money owing in excess of the value of their bond and a decision has been handed down by the Small Claims Tribunal.
If a tenant has breached the tenancy agreement as per the Residential Tenancies Act and the amount outstanding is in excess of the bond being held, the tenant will be placed on the TICA database following a Small Claims Tribunal Hearing. TICA is provided with this information and all details relating to the tenant such as copy of drivers licence or passport, date of birth, etc. The tenant is then placed on a database for defaulting tenants. Information regarding the total amount of monies owed along with a full breakdown of the costs and expenditure related to the debt are lodged with TICA. The tenant can clear their name from TICA if the debt owing is paid in full.
Smoke Alarm Legislation
Lessor’s have obligations for installing, cleaning and testing smoke alarms and replacing batteries before the start or renewal of a tenancy. A lessor must not pass on their obligations to the tenant to act on their behalf such as asking the tenant to replace batteries at the beginning of the tenancy. Lessor’s obligations are to ensure that smoke alarms complying with Australian standards must be fitted in all rental properties and in accordance with the Building Code of Australia prior to the commencement of a tenancy;
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Testing of alarms within 30 days before the start or renewal of the tenancy and according to the manufacturer’s instructions;
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Replacing batteries in alarms within 30 days before the start of the tenancy if batteries are flat or nearly flat;
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Cleaning alarms within 30 days before the start or renewal of the tenancy and as specified by the manufacturer's instructions;
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Smoke alarms must be replaced before the end of their service life;
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At no time can the lessor remove or relocate the smoke alarm unless it is being replaced or maintained;
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At no time can the lessor do anything to interfere with the alarm's warning sound. At no time can the lessor remove the batteries unless they are replacing them.
Pool Fence Legislation
Queensland's swimming pool safety laws are undergoing the most comprehensive review in almost 20 years.
Proposed changes will require pool owners to have a current compliance certificate certifying the pool meets safety standards. This certificate is required at time of lease or sale from 1st December 2010.
The stage two measures will come into effect on 1st December 2010 and will apply to both new and existing indoor and outdoor swimming pools (including spa pools). This includes pools associated with houses, residential units, hotels, motels, caretaker dwellings (class 1-4 buildings) and caravan parks. Some of the key stage two measures include:
- The adoption of one fencing standard for all pools, regardless of the pool's age, including the phasing out of child-resistant doors used as a barrier to an existing swimming pool (a five-year phase-in period will apply, unless the property is sold or leased first);
- The requirement that properties with a pool covered by state law will need to obtain a current pool safety certificate from a licensed pool safety inspector, prior to sale or lease;
- A state based swimming pool register.
Our Property Manager will be sure to keep you abreast of the changing legislation.
Property Management Service Guarantee
In consideration of entrusting Engel & Völkers to manage your investment property, we guarantee to provide you with the best possible service in the management of your investment property.
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Your property will be listed on our website along with a number of relevant websites such as realestate.com.au as soon as your property has been entrusted to us to locate a suitable tenant.
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A flyer with your property’s photo will be placed in our prominent window display.
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A ‘For Rent’ signboard will be erected at your property (if authorised).
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We will access our existing prospective tenant database and arrange inspections by tenants who are looking to rent within your property’s price range, suitability and location.
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Regular contact will be made throughout the pre-lease period to provide an activity update including comments received by prospective tenants about your property.
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We will present all applications obtained from prospective tenants to you for your consideration.
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We will conduct thorough checks on tenants applying for your property as permitted by law to ensure that to the best of our knowledge the information given to us is accurate and that the tenant will fulfil all obligations as per the General Tenancy Agreement.
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We will conduct a thorough internal and external property inspection approximately every 3-4 months and provide you with a comprehensive report following each inspection.
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We will attend to all maintenance repairs as quickly as reported as per the Management Agreement. We will advise or suggest any ongoing maintenance requirements which will keep your property in top condition to ensure it retains its optimum market value.
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We will carry out rent arrears checks daily and immediately follow up any outstanding monies owing. Prompt action in accordance with the Residential Tenancies Act will be taken.
‘Great tenants deserve to be rewarded’
At Engel & Völkers, we believe in rewarding the best tenant of the month. This helps instil a sense of responsibility to our tenants. Each month, following a routine inspection one tenant is chosen by our Property Manager as ‘Tenant of the Month’. The tenant must have displayed great care in looking after the property, upholding their responsibilities as per their rental agreement and have been consistently up to date with their rental payments.
Our ‘Tenant of the month’ will choose whether they receive a bottle of wine or gourmet gift hamper as a thank you gift. The Landlord will also be advised so they know they have great tenants. A record of this will also go onto the file and may assist the tenant in any future references regarding their tenancy.
Relevant Service Providers for Your Reference
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Office of Fair Trading (OFT): All real estate agents, restricted letting agents, property developers, auctioneers and pastoral house agents must be licensed to work in Queensland. An agent is required by the Property Agents and Motors Dealers (PAMD) Act to have you sign your instructions in the form of an Appointment of Agent - Letting and Property Management (PAMD 20a) when you engage their services to let and manage your investment property. For further information please visit their website www.fairtrading.qld.gov.au or phone on 13 74 68.
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Real Estate Institute of Queensland (REIQ): The REIQ is the peak organisation for Queensland’s Real Estate Industry. The Real Estate Institute of Queensland (REIQ) produces a standard Property Management Agreement that forms part of the PAMD Form 20a agreement. For further information please visit their website www.reiq.com.au or phone on 07 3249 7347.
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Residential Tenancies Authority (RTA): The Residential Tenancies Authority administers the Residential Tenancies and Rooming Accommodation Act 2008. The Act applies to people renting flats, houses, caravans, units, townhouses, mobile homes and houseboats in private, public and community-managed rental accommodation. The Act also covers residents and providers of supported accommodation such as hostels, aged care and boarding houses. The Act applies to people renting flats, houses, caravans, units, townhouses, mobile homes and houseboats in private, public and community-managed rental accommodation. The Act also covers residents and providers of supported accommodation such as hostels, aged care and boarding houses. For further information please visit their website www.rta.qld.gov.au or phone on 1300 366 311.
