Landlord Information

SUCCESSFUL BUSINESS PARTNERSHIP

At Copacabana Property Management we provide quality management for your peace of mind!

We believe the keys to establishing a successful partnership in business are:

 

  • Complementary capabilities – even if you’re a dog person, every successful partnership needs cats.
  • Alignment – you have to be pointing in the same direction for the relationship to work.
  • Trust.
  • Communication.
  • Ambition, commitment and hard work.

 

We are committed to delivering excellence in service throughout all facets of Property Management. In fact, we pride ourselves on our Management division, which is growing daily and our reputation for superior service is a constant referral basis for more business. Many clients comment that we are one of the ‘easiest and the nicest’ in the industry to deal with, making the transaction enjoyable for all.

 

We pride ourselves on being honest and transparent in all areas around property management and our staff are committed to developing long standing relationships with all our clients.

 

For facts you must know before renting out your property, please download the Landlord Information Statement.

 

SELECTION OF TENANTS

Our team goes the extra mile so that our property owners get the calibre of tenants they deserve! We have a unique screening process in place on each and every adult rental applicant during the application procedure to ensure that they are a suitable fit for your property.

 

Prior to submitting a rental application tenants are required to inspect the property they would like to apply for. We therefore conduct scheduled open houses of your investment property, however also acknowledge that it may often be difficult for working tenants to attend these scheduled inspections. So additionally, we offer inspecting by appointment which not only makes it easier for the working applicants, but also gives our staff a chance to have one on one time with your potential next tenants to see what they are like in person. Under no circumstances will we issue out keys to your vacant investment property.

 

Once an application is received, we thoroughly check their 100 points of ID along with confirming employment details. We then contact their current employment company and furthermore conduct a personal reference check. If the applicant has a rental history, we contact their previous property manager or landlord to discuss their tenancy.

 

Our office is also a member of Tenancies Information Centre of Australasia (TICA) a comprehensive database of defaulting tenants. This database is an imperative tool when it comes to selecting a tenant.

 

The final decision on who to select to put into your property will always be made by you as the landlord.

 

PROPERTY INSPECTIONS

In order to monitor and ensure that your investment is being well-maintained at the highest possible standard, inspections are a priority and responsibility of investment management.

 

Entry Condition Report

Prior to the tenant moving into your investment property an in-depth and detailed condition report will be completed by your property manager which covers both the internal and external property.

 

Periodic Inspections

The first inspection will be conducted three months into the tenancy and then once every six months. Following each inspection, a comprehensive report on the overall condition including photos along with any recommended repairs and maintenance will be sent to you. As the Landlord you are always invited along to attend the inspections and are always given plenty of notice.

 

Exit Condition Report

Once the tenant has vacated the property and handed in all of the keys to our office, an in­depth and detailed exit report is completed and cross referenced with the initial entry report to ensure that the property is left in the same condition as when the tenants moved in given fair wear and tear.

 

LEASE AGREEMENTS

Once a tenant has been approved to lease your investment property and is ready to move in, they are required to enter into a Residential Tenancy Agreement and pay a holding deposit.

Our Property Managers will prepare the Residential Tenancy Agreement along with supporting documentation such as leases, data entry, condition reports, pet authority form, water usage forms, photocopy of the keys being provided and bond lodgement forms.

At the appointment to sign the Residential Tenancy Agreement, our Property Manager will ensure that the tenant is fully informed of the terms of the agreement and their responsibilities together with the payment of upfront rent and bond.

ACCOUNTING

In our office we use dedicated property management software to apply standard bookkeeping principles for the administration of our properties under management. We take responsibility for all accounting administration including collection of rent and payment of outgoings and any other payments you request us to make on your behalf. In addition, we provide you with a fully itemised monthly statement with payment direct into your nominated bank account; furthermore,  you will be emailed a year-end summary statement for your tax accountant at the end of each financial year.

ARREARS MANAGEMENT PROCESS

We have a strict arrears management procedure that is always adhered to regardless of the tenants reasoning behind late payment and is always checked and actioned daily. This procedure is to ensure effective management of arrears to protect your investment.

Following is a sample of our arrears process:

 

2 Days in Arrears – Reminder phone call, Email, SMS text message

4 Days in Arrears – Reminder letter asking to bring the account up to date ASAP, follow up SMS text and email are also sent.

7 Days in Arrears – Follow up phone call to remedy the breach and a courtesy phone call to the landlord to advise them of the situation if required.

10 Days in Arrears – Letter issued advising that a notice to vacate will be issued for non-payment if not paid immediately.

14 Days in Arrears – Notice to Vacate is issued and following application to the tribunal will be sent by registered post in accordance with legislation requirements. A copy will also be sent to the landlord.

REPAIRS AND MAINTENANCE

Ensuring that your investment property is in a well-maintained condition will attract not only a satisfied tenant but also a steady capital appreciation. Should any repairs or maintenance come to light during the tenancy, one of our Property Managers will contact you to discuss how you would like to proceed and obtain quotes if necessary.

 

In case you elect for our office to look after the repairs or quotes we have a portfolio of preferred qualified tradesman that we work with on a regular basis.

We also realise that the management of rental properties doesn’t stop at the end of a business day and have plans in place for “after hour emergencies” when unexpected things occur.

 

All tradesmen that we appoint for repairs and maintenance must provide the following documents to our office:

 

  • Current workers compensation insurance
  • Current public liability insurance
  • Current licenses for their trade
  • Competitive rates
  • ABN registration

 

Our office will coordinate all repairs and maintenance in accordance with your instructions and will monitor work completed to ensure it is satisfactory.

 

Alternatively, you may prefer to attend to maintenance at your Investment Property or engage your own preferred tradesman.

 

Once an invoice is issued for any repairs and maintenance, payment can be made from your rental account so that all expenses for your property will appear on your end of financial year summary making tax time much easier.

LANDLORD INSURANCE

Landlord insurance is for Residential investment Property. Landlord Insurance can provide protection for your property and rental income as well as providing legal liability relating to injuries or damage resulting from management or ownership of the property.

It is imperative that you do have Landlord Insurance. Depending on the policy that you decided to go with, it can cover you for Rent Default, Loss of Rent, Damage by Tenants, Contents Cover, Legal Costs and Public Liability.