Systems, Systems, Systems
Property management can be complex. To ensure all goes to plan, Luton Properties have developed an exhaustive system with a detailed series of checks and balances to ensure everything runs smoothly during tenancies.
Respecting our tenants
Tenants are also our valued clients. We pride ourselves on dealings and communications with tenants that are always professional and welcoming. At the time of signing a tenancy agreement, we spend time establishing the rules to ensure relationships will be conducted in good faith. We believe that the respect that we show our tenants will be returned through the respect that they show your investment property.
As part of showing tenants respect, we make it easy for them to deal with our agency. Tenancy Applications are available online as are all repair request forms, intention to vacate checklists and other forms and guidance.
It is Luton Properties' policy that tenants pay their rent via direct debit. This allows for the automatic deduction of rent from tenants' nominated bank accounts on the day their rent is due.
We recognise that is important that ongoing clear communication is maintained with the tenant. We find that in 90% of cases, rental arrears are due to a change of tenant circumstances, so our processes are all designed to ensure open communication lines, not only with the tenant but also with you, the investor.
It is not often that a situation reaches a stage where representation at the Residential Tenancy Tribunal is required. However, should this occur, Luton Properties has the skills to advocate for you at the Tribunal, and the staying power to fully commit to the task until the matter is resolved.
Repairs and Maintenance
Your property manager will facilitate repairs and maintenance on your behalf. We use a trusted team of fully qualified and insured tradespeople who have a long relationship with Luton Properties. Where required, we will organise quotes and keep you fully informed of progress at all times.
Payment of outgoings
Luton Properties will organise payment of all of your outgoings including repairs, and statutory charges such as Land Tax, Rates, Water Supply Rates and body corporate strata levies (if applicable). Details of these transactions will appear on your monthly statement and your end of financial year report.
Each month we provide a comprehensive statement of account detailing all transactions and all supporting documentation for your easy reference at tax time. A copy of your statement can also be emailed upon request, should you want an electronic copy and immediate details of monies deposited into your nominated bank account.
Annual Revenue & Expenses Summary
Your accountant will appreciate our annual income and expenditure report, summarising all of the year's transactions. The report is sent out each July and also available electronically upon request.
It's Your Money
Our investors are paid once a month by electronic transfer - faster access to your money means you can make the most of your investment income.
Your property investment requires protection!
Luton Properties recommends landlords' insurance for all investment properties, to cover building, public risk liability, minimum contents and loss of rent. Due to recent regulatory changes, real estate agents are now unable to effect insurance on landlords behalf, therefore it will be necessary for you to initiate the correct cover. There are a number of insurance companies who offer this type of policy and we have listed some who specialise in this type of cover below:
Terri Scheer Insurance Brokers Pty Ltd 1800 351 788 www.terrischeer.com.au
Landlord Protection & Collection 1300 572 199 firstname.lastname@example.org
Proactive Property Management
Luton Properties has developed a comprehensive process to ensure proactive management of your property. This process is called 'Inspect, Review, Re-sign' and is undertaken every 6 months. It involves three elements:
1. A physical inspection of the property. The landlord is provided with a written report of the condition of the property, which outlines any relevant maintenance issues requiring attention. It also provides an opportunity to assess the tenant's attitude towards the care of the property.
2. A review of the current rental level every 12 months with a view to considering an increase in accordance with the Residential Tenancies Act 1997.
3. Negotiating with the existing tenant to re-sign a new Tenancy Agreement. It is our view that tenants should be on fixed term agreements as much as possible, providing investors with security of tenure.