Management
(Brisbane)
Why REAA?
As property investors ourselves, we understand the importance of choosing the right property manager for your investment property.
We have outlined the questions that we asked over the past 20 years when selecting a property manager for our own properties. You might have others and we invite you to ask them so there are no surprises!
Questions Our Answers
What experience do you have in managing investment properties like ours?
We have owned investment properties for over 20 years and think like a landlord. This means we are proactive and anticipate issues rather than just responding to a call or issue. Our focus has been on the sophisticated segment of the market where the landlord and their property deserves a higher quality of service to maintain its value.
Who will be responsible for managing my property, and will they be the single point of contact?
We understand that the relationship between the property manager and the landlord is critical, ensuring there is consistency in the management of the property and the relationship. You will have a single point of contact and that property manager will ensure any concerns or questions you might have are dealt with promptly.
What are the management costs and are there any hidden costs?
We are committed to delivering a transparent and simple fee structure. This fee structure has only three fees, and if you elect to have electronic statements there will only be two fees! We do not think we could make it simpler or more transparent. A section later in this pack outlines the fee structure.
Who are REAA?
We have a team of property managers that are ready to assist you.
Our team is led by Jason Michelmore who has been involved in managing property as well as buying and selling real estate since 1995. As a property investor he has built a diverse property portfolio that includes residential and commercial properties. This experiences enables REAA to think like landlords, to anticipate the issues and manage the properties with the same care and attention as if they were our own.
Some further details
We know you are a sophisticated investor, are time poor and may want to know a little more detail on our service.
We have kept this information short, in plain English and covering the areas we think are
important to make your decision. If there are other questions you have then let us know and we would be pleased to assist you make your decision.
Further details are provided on:
• Benefits of a property manager • Tenant selection
• Inspections & reports • Accounts & payments • Maintenance
• Arrears management • Fees
Benefits of a property manager
We believe the main benefits are:
• Property management fees are generally tax deductible.
• Our property managers have access to TICA - a tenancy database that shows tenants who have been blacklisted, helping to ensure your tenants are of good quality and standing. • Lower stress - you can rest easy knowing your property is being managed with the same care
and attention as if you were managing it yourself. Without of course the time commitment. • Market returns - an up-to-date knowledge of the rental market in the surrounding area for
like or comparable properties, ensures you achieve as strong a return on your investment as possible.
• Leading edge property management technology - the latest in reporting and payment technology means you get the information you need quickly and professionally.
Tenant selection
We understand that the success of your tenancy is largely driven by the quality of your tenant:
• We have a detailed tenancy application process that is focused on getting you the right tenant.
• The screening process includes TICA checks, personal and professional reference checks and a 100-point identity verification.
Inspections and reports
We pride ourselves on providing the information on your property in the format and method which is easiest for you or your accountant to handle. This includes:
• A detailed entry condition report with photos at the start of the tenancy, which is signed off by the tenant to minimise disputes.
• An inspection by our property managers each quarter, with a detailed report on any issues or maintenance required on the property.
• An exit report at the end of the tenancy to identify any damage or issues that have arisen during the tenancy that need to rectified or claimed from the bond.
Accounts and payments
Ultimately you want to receive the income from your property as quick as possible. As a full service agency we:
• Take care of payments for your outgoings. This can include landlord insurance through to rates, body corporate levies and maintenance charges.
• Payments are made to you on a monthly or fortnightly basis to accommodate your cash flow needs.
Maintenance
Your property maintains its value if it is properly maintained:
• We maintain a panel of high quality tradespeople who are qualified and compliant with the correct insurances in place should anything go wrong.
• If there is a maintenance issue, we make sure there is an audit trail by asking the tenant to put the issue in writing.
• We will call you if the issue is major with solutions, plans and timelines for your approval. • More likely will be the infrequent minor maintenance issues which to fix are under an agreed
dollar threshold. We will get onto these promptly minimising the inconvenience to the tenant and preserving goodwill. These will be reported to you in the next payment summary.
Arrears management
From time-to-time, tenants go into arrears and we follow a structured process to comply with the law and put you as the landlord in the strongest position to recover the rent:
• Our arrears management process includes SMS reminders of overdue rent to the tenant are sent from day one.
• These are followed up with phone calls, ensuring any Notices to Remedy are issued promptly on the eighth day of arrears in compliance with the law.
Fees
Our fee structure is simple and transparent as follows:
Contact us
Please feel free to contact us as follows. We would value the opportunity to provide you with a proposal to manage and take care of your property on your behalf.
Fee Description Fee
1 Property Management Fee 8% plus GST of the weekly rent
2 Letting Fee One (1) week of the weekly rent plus GST
3 Postage & Petties $5 per month plus GST
NOTE: Remove this fee by electing to have electronic
instead of paper statements
Telephone +61 (0)7 3012 6399
Fax +61 (0)7 3012 6699
Email rentals@reaagroup.com.au
Mail REAA Property Management (Brisbane) Level 54
111 Eagle Street Brisbane
