At VIVIDLand, we are dedicated to providing top-notch property management services. Our goal is to find you the best possible tenant and manage your property with the utmost care. Here’s how we ensure a seamless and efficient property management experience for you:
Selecting a Skilled and Trustworthy Property Manager
Choosing the right property manager is crucial for maximizing your investment and ensuring peace of mind. We advise you to carefully research and select an agent who is transparent, energetic, passionate, and works in your best interest. Look for an agent with extensive knowledge of the area and experience in rental appraisals for properties in your neighborhood.
Appointing an Agent
Once you have chosen a property manager, you will need to enter into a legally binding agreement called an Exclusive Leasing or Leasing agreement if your property is vacant. If your property is already tenanted or you want the agent to manage the property after finding you a tenant, an Exclusive Management Agreement is required. These agreements outline the agent’s obligations and duties in representing you as the landlord, including their fees. You will also provide your bank details to your property manager for rent payment purposes.
Insurance
We highly recommend obtaining insurance coverage for your property, with a minimum of $10 million in public liability. It’s essential to contact your insurer and request a certificate of currency to provide to your agent. Landlord Protection Insurance is also worth considering as it offers additional protection for various tenancy-related issues.
Effective Property Marketing
Our dedicated team will handle the marketing campaign for your property, aiming for maximum return with minimum expense. We utilize key websites, property signage, and 360-degree video tours to generate strong leads. Professional photography is an essential component of our marketing strategy as it significantly enhances the appeal of your property and expedites the leasing process. Regular reports on the level of interest and organized open for inspections are also part of our marketing approach.
Tenant Selection
Thorough due diligence is conducted by your property manager when reviewing tenant applications. We require detailed tenancy application forms to perform necessary reference, credit, and employment checks. Our comprehensive screening process includes reference checks on current and previous tenancies, employment history verification, ID verification, credit checks, and visa checks where applicable. All applications and our recommendation are submitted to you for the final decision.
Lease Agreements and Terms
As a landlord, you will enter into a contract with your tenant through a Residential Tenancy Agreement prepared by your property manager in accordance with the Residential Tenancies Act. It is crucial to carefully read and understand the agreement, as it covers terms and conditions that benefit both parties. Typically, initial lease terms are for 12 months, with further fixed terms to be agreed upon by both parties.
Condition Report
A detailed condition report is provided to the tenant before they move into the property. This report outlines the general condition of the premises, including walls, floors, window coverings, and appliances. The tenant must sign and return a copy of the report within three business days of occupying the property. The condition report serves as a reference point for documenting the property’s condition at the time of occupation.
Bond and Rent Collection
Your property management will handle the collection of the first month’s rent in advance, as well as the bond (typically equivalent to 5 weeks’ rent). The bond is held by the Residential Tenancies Bond Authority, while the rent is paid into the agent’s trust account. Your property manager will deduct their fees and any bills, then deposit the remaining balance into your nominated bank account. You will receive an itemized statement with every payment.
Routine Inspections
To ensure your property is well-maintained, routine inspections are conducted every 6 months after an initial inspection within the first 3 months. These inspections are vital for maintaining a consistently high standard and addressing any necessary repairs or maintenance promptly. Prior to the inspection, our property management provide tenants with a guide outlining what will be assessed. While you are welcome to attend the inspections, we typically provide comprehensive post-inspection reports with photos to keep you informed of the property’s condition and any required actions. Any maintenance or repairs are approved by you before we coordinate the necessary work.
Maintenance Requests
We understand that properties may require occasional maintenance. If any issues arise, we provide you with a clear and detailed description of the problem and seek your approval before arranging the necessary repairs. Additionally, we obtain the tenant’s permission to access the property for repairs, ensuring a cooperative and efficient process.
Urgent Repairs
In situations where immediate attention is required, we will make every effort to contact you first. However, if we are unable to reach you, we take prompt action to address urgent repairs. Costs for urgent repairs are typically capped at a previously agreed value, as specified in the managing authority agreement. We have a network of trusted tradespeople who assist us in providing cost-effective and timely solutions during emergencies.
Lease Renewals
Once the fixed period of the lease has ended and both the tenant and landlord wish to extend the lease, we initiate negotiations to revise terms and issue a new Residential Tenancy Agreement. This allows for a seamless continuation of the tenancy while ensuring that the interests of both parties are addressed.
At VIVIDLand, we prioritize exceptional property management services to protect your investment and provide you with peace of mind. Our experienced team is dedicated to finding the best tenants, maintaining your property’s condition, and ensuring a smooth and efficient management process
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