Investment Property Management Information - Michaels Real ...
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Investment Property Management Information
Contact our rental team today!
07 4152 1600
propertymanagement@michaelsrealestate.com.au
www.michaelsrealestate.com.au
@michaelsrealestatebundaberg
262 Bourbong Street, Bundaberg West, Queensland, 4670
Clients for life..
Table Of Contents
Introduction To Michaels Real Estate ……….…………………………………..………. Page 3
Our Property Management Team ……………….…………………………………………. Page 4
What do we do differently ……….……………….…………………………………………. Page 5
Professional Standards ….……….……………….…………………………………………. Page 5
Documentations …………..……….……………….…………………………………………. Page 5
Marketing your Investment Property ………....…………………………………………. Page 6
Leasing your Investment Property ………........…………………………………………. Page 6
Rent Collection ……………………………………...…………………………………………. Page 7
Rent Disbursements ………....………………………………………………………………. Page 7
Repairs and Maintenance ………………………...…………………………………………. Page 8
Who is responsible for repairs ……………...…………………………………………. Page 8 - 9
Routine Inspections and Reports ………………………...………………..……………. Page 10
General Tenancy Agreement Renewal ……………….....………………..……………. Page 10
Property Outgoings and Rent Statements ………………………...………….………. Page 10
Property Upkeep ………………………...………………..…………………………………. Page 11
Management Fees ………………………...………………..…………………….…………. Page 12
Why do you need a Property Manager ……………..…...………………..……………. Page 12
Finalising Arrangements ………………………...…………………………..……………. Page 12
Preparing your Property for Rent ………………………...………………..……………. Page 13
Hand Over …………….……………………...………………..…………………..…………. Page 13
Helpful Numbers ………………………...………………..…………………………...……. Page 14
Licensee Details ………………………...……………………….……………..……………. Page 15
Clients for life...
Introduction to Michaels Real Estate
Michaels Real Estate is Bundaberg’s number 1 leading independent Real Estate
agency. We have been successfully dealing with residential, rural and commercial
investment properties in the area for over 35 years and will continue to be part of the
community for many years to come.
Our mission statement is to provide an outstanding professional, ethical and friendly
service to our clients. Our reputation within the Real Estate industry is of high
standards and our motto is ‘Clients for Life’. Our policy is that clients come first and
we have built our business on the philosophy that clients are for life. Our office is a
member of the REIQ (Real Estate Institute of Queensland) which means you are
dealing with agents who adhere to a strict Code of Ethics.
He at Michaels Real Estate we take the time to get it right the first time, we seize
pride in finding the right tenant for your property with an extensive application
process, verbal contact and a subscription to the Australian tenancy database.
Having 3 licensed and experienced property managers working with a team of
assistants and administrators can give you the peace of mind that your property will
be well looked after in every aspect here with us.
We pride ourselves on the recommendations of our clients and look forward to
working with you.
Clients for life..
4
Our Property Management Team
Codee Callaghan
Senior Property Manager
Beginning in the industry in 2012 with experience across all platforms of
real estate, Codee has proven herself to be a very valuable asset to
Michaels Real Estate with the role of Senior Property Manager. It is her
meticulous attention to detail and unmatched work ethic that sets
Codee apart. Codee is one of the most approachable property managers
you will meet in the industry and she is known to go above and beyond
for all of her landlords, tenants and contractors.
Codee’s systems and procedures allow her and her team to provide the
highest of standard to all of her clients, ensuring that your dearest asset
is only increasing in leasing value over time.
Krysti-lee lager
Property Management Administration
Beginning her Real Estate career with Michaels Real Estate in 2009 as
the first point of contact, Krysti became a well-known and loved
property manager for the independent agency for 5 years before leaving
to have her second daughter. It was her thorough attention to detail
strong communication skills and unmatched work ethic combined with
her outstanding customer service and care that set her apart.
Krysti returned to the property management team in 2019 with the
same passion and motivation towards taking great steps in professional
asset management, with hands on communication between owners and
tenants.
Tracey Beveridge
Property Manager
Passionate about property and people, Tracey is a valuable asset to the
Property Management Team at Michaels Real Estate. She is a highly
experienced member of the team with 10 years of experience in the
industry which ranges from rental & sales administration, selling
property and managing Michaels Real Estate office before being pre-
sented with the opportunity to reclaim her passion as a property
manager.
Her style is clear and concise which means that she can effectively and
efficiently engage with tenants, landlords and contractors to provide
seamless support whilst managing your most valuable asset.
Clients for life..
3
What do we do differently?
At Michaels Real Estate we understand that when you invest in a property, it is important to not only
ensure property is kept well maintained, but to maximize the returns on your investment. Our team of
professional staff are committed to providing you with the highest level of service to help you achieve
this and ensure the management of your property will be simple and hassle free.
Our aim is to constantly improve our service to fulfil our client’s needs.
- We manage your asset to help you gain the best return
- We understand the importance of good communication
- We have access to the latest technology for faster communication
- We carry out extensive checks for tenant applications
- We produce detailed written inspection reports
Professional Standards
The highest standards of ethics, integrity and professional practice are conducted in compliance with the
Code of Conduct of the Real Estate Institute of Queensland. We adhere to all legislation that is cov-
ered by the Residential Tenancies and Rooming Accommodation Act 2008, Property Occupations Act
2014 and Agents Financial Administration Act 2014
Under these acts we do not have the authority to talk about, advertise or carry out inspections or any
other Property Management duties without a written authority to act in place which is the Property
Occupations Form 6 – Appointment of a Real Estate Agent which is signed by the legal owner of
the property and then the managing agent.
Documentation
We will ensure that all documentation is accurate and complete, copies of all documents including lease
agreements will be forwarded to you via your preferred method. Property condition reports will be
comprehensively and accurately completed. No document containing any form of personal information is
disposed off, they are destroyed accordingly. Original paper copies of documents are available for 5
years, once destroyed digital copies can be provided.
Clients for life..
5
Marketing your Investment Property
We consider the marketing of your property to be an integral part of finding a suitable tenant.
To help ensure the vacancy of your property is kept to a minimum:
- We will erect a ‘For Rent’ sign on your property
- We will place a listing of your property, including photographs and description on realestate.com,
domain.com, rent.com along with advertisements on over 30 Real Estate websites
- The property will be displayed in our window
and on our rental list
- Current tenants and applications will be
approached
- We will conduct inspections of your property
with perspective tenants as required
- Newspaper advertising by individual
arrangement and costings
Here at Michaels Real Estate we offer free basic
advertising as listed above, for any feature
internet website listings, sign boards, professional
photos or other forms of advertisement quotes
can be obtained and proceeded with at owners
request.
Leasing Your Investment Property
Being a independent local agency we like to get to know our potential tenants and have as much verbal
contact and meetings with them during the application process. All information and references provided
by the tenancy applications is professionally dealt with and verified to the best of our ability. All tenancy
applications are screened through the National Tenancy Database (TICA) that we subscribe to. All
applications once processed and summarised will be forward to the owner with recommendations for
final approval. Police and bankruptcy checks can be conducted at the owners cost if potential tenants are
in agreeance. A detailed lease agreement and a comprehensive condition report will be prepared prior to
the tenant moving in. Copies of the tenancy documentation will be forwarded to you.
Clients for life..
6
Rent Collection
During the sign up process with a new tenant, we make sure they are aware of our strict procedures
when it comes to dealing with rent arrears. We find that by discussing these procedures with the tenant
before the tenancy begins, it is not often that any of our tenants are ever behind in their rent. We offer
tenants four different options for paying their rent. Rent payments can be made via Centrepay (there is a
$0.99 charge to you, deducted from the weekly rent if the tenant chooses this option to pay their rent),
internet transfer, direct deposit at Westpac or cash payments in the office.
In the circumstance that a tenant does fall behind in their rent, we will act promptly and begin
procedures as follows:
- 4 - 5 days in arrears tenants will be sent an sms and email informing the amount of days they are in
arrears and asking to make payment or advise when rent will be paid.
- On days 6 and 7, tenants will be contacted via phone or hand delivered a letter if required to advise if
payment is not made a breach will be issued.
- 8th day if tenant has not made a payment or provided proof of payment a Form 11—Notice to Remedy
Breach will be issued giving the tenant 7 days to rectify.
- If rent arrears are rectified prior to expiry of the Form 11 - Notice to Remedy Breach, breach will be
marked remedied however will remain as part of the tenants rental history.
- If the tenant fails to pay the rent due by the expiry of the Form 11 - Notice to Remedy Breach, we will
then issue them with an Form 12 - Notice to Leave, giving them 7 days to vacate the property.
Should any notice for rent arrears be issued to the tenant, we will keep you informed throughout the
process.
Rent Disbursements
Disbursements can be made fortnightly or monthly and can be changed at any time. Funds will be
disbursed at mid month and the end of the month or the following business day. Monies will be
transferred into your nominated bank account from our Westpac Trust Account. At any stage you wish to
change bank account details it must be done in writing.
Clients for life..
7
Repairs and Maintenance
At all times (depending on your authorizations) we will endeavour to contact you and advise you of the
need for repairs or maintenance prior to them being carried out. However in an emergency situation, if
you can’t be contacted, we will act in your best interests and notify you as soon as possible of the
outcome.
At all times your financial interest is considered and repairs and maintenance are carried out with this in
mind. Licensed, insured and competitively priced reliable tradespeople are only considered (other than
your specified tradespeople.) Copies of all invoices for all maintenance arranged on your behalf will be
forwarded to you for your records.
Who is responsible for repairs?
The property owner is responsible for keeping the property in good condition and fit for the tenant to live
in. The property owner generally carries out any repairs or organises someone to do so; the tenant
should not carry out the repair without written permission. Owners should organise to repair the problem
within a reasonable time frame. If they do not the tenant can issue a Form 11 - Notice to Remedy
Breach giving them 7 days to fix the problem. If the problem has not been fixed, the RTA encourages
tenants and property owners to try to resolve the issue by discussing the matter. If you are still unable
to agree, tenants may apply to QCAT for a dispute resolution hearing.
The tenant is responsible for looking after the property and keeping it clean and undamaged. If a tenant
or their guests damage the property, they will be responsible for rectifying the damages / repairs within
a suitable time frame, if this is not adhered to a Form 11 - Notice to Remedy Breach giving them 7 days
to fix the problem can be issued. If at the end of the tenancy any damages / repairs have not been
rectified, these issues will be resolved from the bond.
Mould
The Act does not make specific reference to mould, but it does detail requirements about the standard
maintenance of a property throughout the agreement. It is the responsibility of the tenant to notify the
property manager /owner of any serious/extensive mould problems.
If the mould is a result of an issue in the property, such as a roof leak, it is the owners responsibility to
clean the mould and make any repairs necessary to maintain the property in good repair. If the tenant
caused the mould, they are responsible for its removal and may have to pay for repair of any damages.
Clients for life..
8
Lawns, gardens and trees
It is generally the responsibility of the tenant to look after general yard jobs such as mowing, edging and
weeding, any special arrangements about the maintenance of gardens and lawns should be listed in the
tenancy agreement. Local council water restrictions should also be considered. The tenant may not be
held responsible if lawns, trees or other plants die because of compliance with these local laws or due to
excessive dry weather conditions.
Any plants, hedges or lawns that require specialist upkeep are usually not the responsibility of the
tenant, unless the tenant agrees in writing. Major work such as tree lopping is usually carried out by the
owner as part of their obligation to keep the property in good repair.
A owner cannot require the tenant to enter into a maintenance contract with a particular company in
addition to their rent, or require the tenant to use a specific company to provide maintenance services. If
the yard maintenance is covered by a contract between the owner and an external company this should
be listed in the tenancy agreement and tenant is to allow access when required.
Pool compliance and maintenance
If a swimming pool is included as part of the rental property, the maintenance should be covered in the
special terms of the tenancy agreement. The tenant is generally responsible for everyday maintenance
such as clearing leaves from the pool and ensuring filters / creepy crawly is running suitably at all times.
This should be discussed prior to signing the agreement. It is recommended that the owner engages an
external company for monthly pool servicing in which any chemicals used will be invoiced back to the
tenant which should be listed in tenancy agreement.
The owner must have a pool safety compliance certificate from a licensed pool inspector prior to renting
the property and include a copy with the tenancy agreement. An owner cannot require the tenant to en-
ter into a maintenance contract or require the tenant to use a particular company to provide services. It
is important to include the condition of any pools on the Form 1a - Entry Condition Report as the tenant
will need to return the property in the same condition they received it, allowing for fair wear and tear.
Drains and Gutters
It is the responsibility of the owner to ensure that the property is in good condition. Generally, if a drain
or gutter becomes blocked due to fair wear and tear it is the owners responsibility to deal with the
problem. If a drain becomes blocked due to something the tenant has done it may be the tenant's
responsibility to pay for fixing the problem.
Clients for life..
9
Routine Inspections and Reports
By law, we are only allowed to conduct property inspections once every 17 weeks unless agreed by all
parties in writing prior. Our inspections are conducted every 3 – 4 months where our property managers
will attend, inspect the property to ensure there is no damages, no cleaning issues of concerns and re-
port any maintenance found or that the tenant has reported. A detailed written inspection report will be
provided along with digital photographs of general areas and any maintenance issues, damages or clean-
ing items. If any issues have arisen at the time of inspection, owners will be advised and tenant will be
dealt with accordingly. Form 11 - Notice to Remedy Breach along with a 14 day follow up inspection can
be arranged if required. Owners are welcome to attend routine inspections, how ever we do ask that we
are given as much notice as possible as routine inspections are quite often booked months in advance.
General Tenancy Agreement Renewal
Prior to the tenancy agreement expiring, we will liaise with both owners and the tenants regarding
requirements, time frame and rent amounts for the renewal of the lease. The existing tenancy agreement
and rental amount will be reviewed and a new lease agreement prepared and signed if applicable. If it
any stage you are un-contactable or have not responded we will renew as per our recommendations.
Property Outgoings and Rent Statements
All property outgoings and maintenance expenses will be paid for on your behalf as agreed. Your rent
statement will be mailed or emailed to you within 2 working days of the disbursement. We will also pro-
vide you with an Annual Financial Income & Expenditure Statement.
Clients for life..
10Property Upkeep
As with your own home, a certain amount of wear and tear is unavoidable during a tenancy and we
recommend a repairs and maintenance program which will ensure that your property continues to
achieve maximum rental, attract quality tenants and suffer minimum vacancy periods.
- Budget to paint internally each 6 - 8 years in a light neutral colour and use washable paint
- Remove ‘dated’ wallpapers, even if in good condition, as these can hinder securing a good tenant
- Clean gutters and downpipes regularly, recommended 6 - 18 months depending on surrounds
- Ensure that the property is secure, including window locks and all door locks
- Re-grout and re-silicon tiles in wet areas to freshen appearance and to avoid any water leaks
- Tile sufficient wall area around stoves to prevent damage from cooking
- Consider that window furnishings do deteriorate over time, some worse than others
- Replace kitchen bench tops, cupboards, handles and drawer fronts instead of installing a new kitchen
- Do not lay soft vinyl flooring as this is more inclined to wear & tear
- Select good quality, hard wearing carpet in a neutral colour, carpet generally has a 7 - 10 year lifespan
- Select a stove with coil elements as the solid type requires greater care and treatment
Clients for life..
11Management Fees
Our agency charges a management fee of 8.5% + GST of the weekly rent obtained. If we have multiple
managements for a particular owner we offer a reduced rate of 7.5% + GST of the weekly rent obtained.
For properties more than 20kms from the Bundaberg CBD area management fees are charged at 10.5%
+ GST of the weekly rent obtained, with reduced rate of 9.5% + GST of weekly rent obtained for those
with multiple listings with our agency.
Let fee equivalent to 1 weeks
rent + GST, is charged at the Management fees based off 8.5% + GST
start of each new tenancy only. Rent P/W Management GST Total P/W
$200 $17.00 $1.70 $18.70
$5.50 admin fee is charged at $250 $21.25 $2.12 $23.37
the end of each month which $300 $25.50 $2.55 $28.05
covers correspondence between $350 $29.75 $2.97 $32.72
our agency, tenant and owner, $400 $34.00 $3.40 $37.40
phone calls and disbursements.
Why do you need a Property Manager?
We mediate between landlords and tenants, alleviating you of the problems and aggravations sometimes
caused by tenants. Your Property Manager is up to date with the current market rentals, which ensures
we are achieving the maximum return on your investment while maintaining a high occupancy rate.
As the landlord you are required by law to be familiar with all current legislation as it is updated from
time to time. We undertake extensive training to ensure we provide you with the correct advice in
relation to these laws. We have the capacity and technology to thoroughly check tenancy applications
including searches on National Tenancy Databases that we subscribe to.
Finalising arrangements
If you wish for Michaels Real Estate to manage your property, phone or email our property management
department, you will be asked to fill out a form to collect all relevant personal and property details, from
that a Form 6 – Appointment of a Real Estate Agent will be created for signing. If your property is
currently being managed by another agency, you may be required to give written notice of your
management termination. Refer to your signed PAMD 20a or Form 6 for notice period requirements - we
are more than happy to further assist with the transition.
Clients for life..
12Preparing your Property for Rent
First impressions are the most important, it will help determine the type of tenant who is willing to lease
your property. A property provided for a tenant in good condition, will assist in ensuring that it is left in
similar order at the end of a tenancy. This also can establish a standard of care and cleanliness during a
tenancy.
- Paintwork both inside and out must be intact and well presented
- Lawns should be mowed and edged, and gardens and shrubs should be neat and tidy
- Floor coverings should be in good condition and clean, carpets to be cleaned to a professional standard
- Window furnishings must working, present well and allow adequate privacy
- Kitchen and bathroom facilities must be in good working order
- The property should be free of any bad odours
- All rooms, including fittings and appliances should be in sound working order, clean & tidy
- Complete pest control should be attended to including fleas, cockroaches, ants & spiders
- Supply appliance instruction booklets to your Property Manager for provision to your tenants
- Clean concrete and paved areas of oil or other stains
Hand Over
Once the property is let, we require 3 sets of keys, 2 sets for tenants who must be provided a key to
every lock in the property where possible, 3rd set we only require keys for 1 entry point in the house
along with keys for any separate rooms or garages. Owners are also required to disconnect power /
phone / gas accounts at the property as the tenants will be asked to re-instate their own. Final lawn
mow and freshin up clean may be required, please be aware we will not let a property that is not to a
bond clean standard, we can organise this and have payments made from rent. Your insurance company
will need to be notified that there is now a tenancy in place, appropriate landlord protection and building
insurance is recommended, we can provided details of local agencies if needed.
Clients for life..
13Helpful Numbers
Below is a list of contactors and numbers you may find helpful throughout this process, these are our
preferred contractors – being in property management we endeavour to source the most quality workers
for the most cost effective price.
Cleaning
Sarah & a Bucket Cleaning ............................................................................................. 0448 744 353
Go Girl Cleaning ............................................................................................................ 0405 319 240
Carpet Cleaning & Flea Spray
Rudys Termite & Pest Management ................................................................................ 0401 724 413
Classic Carpet Cleaning .................................................................................................. 0415 988 561
Garden/lawn Maintenance
Lizard Lawn Care .......................................................................................................... 0447 518 872
Franks Mowing & Garden Care ....................................................................................... 0415 366 795
Pool/Spa
Poolworx ...................................................................................................................... 0403 186 021
Donemans Pool Centre .................................................................................................. 07 4152 6499
General Handyman
Brads Concreting and Handyman Services ...................................................................... 0438 762 546
Avid Handyman ............................................................................................................ 0478 504 980
Electrical
Rum City Electrical ........................................................................................................ 0405 329 834
AAP Electrical ................................................................................................................ 0419 688 721
Plumbing
Enever Plumbing ........................................................................................................... 0402 009 201
Lucass Plumbing & Drainage .......................................................................................... 0439 674 889
Septics
Wide Bay & Burnett Waste Water ................................................................................... 07 4154 8748
Nuflow ......................................................................................................................... 1800 037 246
Clients for life..
14We hope that we have provided all the information required to help you make the
switch or decision to rent your asset with our experienced team. If you have any
questions or would like any additional information please don't hesitate to contact
our property management our agency.
We offer free rental current market analysis, market rental estimates, marketing
plans and Real Estate advice.
We hope to hear from you soon!
Servicing Bundaberg area & Surrounds
Michael Dempsey
Owner & Principal
0417 605 755
michael@michaelsrealestate.com.au
Clients for life..
15Clients for life..
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