Investing Guide

Our professional and experienced real estate agents ensure that becoming a landlord is a wonderful and profitable experience. My Place Real Estate has offers a wide variety of services to help our clients.

 

1.      Marketing

Our properties are listed on some or all of the following:

www.realestate.com.au

ww.reiwa.com.au

www.rent.com.au

www.rentfind.com.au

www.myplacerealestate.com.au

www.domain.com.au

www.iproperty.com.au

www.homely.com.au

www.thehomepage.com.au

www.allhomes.com.au

www.millionplus.com.au

www.acproperty.com.au

 

Information including good quality photographs are available to prospective tenants 24 hours a day, 7 days a week through our online marketing.

2.      Tenant Selection

Our job is to secure the best possible tenant for your property. All prospective tenants are required to fill out a comprehensive application form. This allows us to assess that they meet all the criteria for a good tenant.

  • Stability in employment
  • Satisfaction that the tenant is capable of paying the required rent
  • A proven satisfactory history of renting
  • All tenants are checked through extensive local and national databases.

3.      Agreement Preparation

Once a tenant has been confirmed for your property, we will arrange the signing of the Residential Tenancy agreement, the property condition report and the lodgement of the Rental Bond as well as the handing over of the keys.

4.      Initial Inspection

Prior to the signing of an agreement, we will create a carefully detailed property condition report with photographs. This takes us roughly a full day to complete. This is used as a comparison for the term of the lease, especially at the end, for determining tenants bond refunds.

5.    Rent Control

Paying rent is hassle free for our tenants. We supply all new tenants with our Bank Account details so they can pay their rent online or in any BankWest branch. The tenants can also pay by cheque in our office.

6.      Arrears Control System

Our computer system is programmed to show any tenants that are behind in their rent. We act promptly by contacting them to rectify the matter. Those who do not respond will get a breach notice. However should this procedure fail to bring results, our staff will contact you to discuss the matter as to whether to proceed with termination.

7.      Periodic Inspections

It is up to you how often we inspect the property. We recommend 6 weeks after the tenancy commences, and then at 3 monthly intervals. Following each routine inspection,we forward you a written report. We welcome any comments from you on the inspection.

8.      Repairs and Maintenance

We act on repairs according to your instructions in the Management Agreement. Should a repair of a more urgent nature be reported, we may need to attend to this as soon aspossible.

9.      Statutory Disbursements

From the rent collected on your behalf we can arrange payment of all the statutory accounts as you instruct us in the Management Agency Agreement. Such accounts couldinclude council rates, water rates, body corporate levies and insurance.

10.  Rental Reviews

We ensure you enjoy full market value rent for your property. We regularly assess the rental on your property taking into account factors such as the current market’s trends, vacancy rates in your area, condition of the property and quality of the tenant and the length of their tenancy.

11.      Accounting To You

Each month we prepare and forward you a detailed statement for your property(s). The statement details the rent period and rent collected, disbursements and sundries. Your rentmonies can be automatically deposited into a nominated bank account and funds are often accessible the same day.

12.      Disputes With Tenants

Disputes between landlords and tenants are not uncommon, but if handled with professionalism and diplomacy most can be solved amicably.

Most disputes arise over unreasonable rent increases, repairs and bond matters. Initially of course, the property manager acts as negotiator in discussion between the Landlord and thetenants. If all avenues are exhausted, and the parties are unable to agree, it may be necessary to apply for a Residential Tenancies court Hearing. The Magistrate is an Independent third party which will hear the dispute and make a decision on the matter.

We as your agent, can represent you at the hearing, preparing the case from start to finish. Preparation may include obtaining quotes and taking photographs of the property (in cases of bond dispute) to researching rental market comparisons in the case of disputes over rent increases.

The findings of the Residential Tenancies Small Disputes Division are final, and may not always to be your satisfaction, so it is almost always beneficial to try and solve theproblem in its initial stages.

13.  Financial Statements

Our office can provide annual financial statements which gives a summary of income and expenditure for the financial year. This will save you time and money when dealing with your accountant.

14.  Communication

Our property management staff are usually available Monday to Friday 9am-5pm, but can be contacted outside these hours in an emergency, otherwise you can drop us an email at your own convenience!

15.  Tax Benefits

Property Management fees are tax deductible.

There are also many other tax benefits you can get from your investment property. A Quantity Surveyor can help save you thousands by depreciating your property and the ‘plant and equipment’ items contained within it, reducing your taxable income. We recommend this to all our owners.

Client Testimonials



Thank you Agnes. This is the perfect home for us.

N & K and the Kids

We found selling with My Place Real Estate very easy and professional. They were always on call to help us throughout the whole sale and we would have no hesitation in using them again.

Alan

Amazing home going to lovely young couple and great service from My Place. I will call again for the next move.

Chris