Management of Your Property

Our step by step guide to successful property management

8264 2223

taylorsrealestate.net.au

Business Profile

Taylor’s First National Real Estate is a member of the First National Real Estate group of independent

Real Estate agents. The group comprises in excess of 500 offices throughout Australasia, with affiliates in the

United States via the prudential referral services.

Our prominent character office is centrally located to service the north and north east suburbs of Adelaide.

Developers recognized the region as an area with growth potential which has resulted in a number of major

developments in recent years such as Mawson Lakes, Walkley Heights, Golden Grove, Gulfview Heights and

Hawkesbury Park. These developments have resulted in escalating buyer activity, awareness and a significant

increase in property prices. All categories of buyers from the interstate investor right through to the third and

fourth home owner now look to purchase throughout the region.

We specialize in residential sales and rental management. Our sales department has an exceptional high listing

to sales success rate, while our property management department manages one of the largest rental portfolios

and can confidently boast one of the lowest vacancy rates in rental management. Our First Priority service

provides assistance to prospective buyers and tenants looking for accommodation, while adding an extra

benefit for our vendors and landlords.

We receive a high number of referrals from past clients who recommend our service which is an indication of

their satisfaction in their dealings with our company. We understand the importance of first impressions and

the saying “You don’t get a second chance to make a good first impression”. Consequently everything we do is

with that in mind.

Our office is located in a high visual and traffic area, is tastefully decorated and impeccably presented with

banners periodically erected to create continued consumer awareness of our business. Our marketing product

is to an extremely high standard in comparison to our immediate competitor agents. We are equipped with the

latest forms of technology which allows us to produce most of our marketing material in house. This enables

us to adapt very quickly, continually introduce new products and keep costs down to our clients while

increasing their properties exposure.

The First National Quality System, called “Best Practice” is unique to the industry, and in our area. Our

documented procedures leave nothing to chance – everything we do is planned to get the best result for the

lowest investment. These documented procedures mean our systems are reliable and we don’t waste time

re-inventing the wheel, or covering mistakes.

Our dedicated reliable team of real estate professionals undertakes regular personal development and training.

They are well groomed, polite and helpful, and believe in the philosophy of “treating people the way you would

like to be treated yourself”.

If you intend selling or renting your property, you can be assured of receiving the highest

standard of service from Taylor’s First National.

WE GUARANTEE IT!

PROPERTY MANAGEMENT PROCEDURES TAYLOR’S FIRST NATIONAL are recipients of a

“Best Practice Gold award Certification”

We can proudly boast as being recognized as one of the few Real Estate offices who have implemented a quality assurance system that is aligned to ISO 9000 international standards.

Generally clients may not be fully aware that they are dealing with a Gold Awarded company. But they do recognize and praise the good service, effective communication, correctly organized marketing campaigns and careful attention to detail.

This might not seem much in itself unless you have previously dealt with other real estate offices who cannot guarantee these service levels.

But it is the confidence in knowing that you are dealing with a company with a dedicated customer focus and a system that is driven by continuous improvement.

If you need a quality property manager to handle your investment property, you can be assured of receiving the highest possible standard from TAYLOR’S FIRST NATIONAL.

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MARKETING YOUR PROPERTY

PRIOR TO RENTING YOUR HOME

SELECTING A SUITABLE TENANT

THE TENANCY AGREEMENT

PROPERTY INSPECTIONS

RENT CONTROL POLICY

REPAIRS AND MAINTENANCE

Taylor’s First National Gold

Award and Best Practice Procedures

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RENT COLLECTION AND PAYING THE OWNER

INSURANCE - MANAGING THE RISK

SELLING YOUR RENTAL PROPERTY

BEST PRACTICE SERVICE GUARANTEE

COMPANY POLICIES

MARKETING YOUR PROPERTY WHAT WE NEED FOR YOUR

PROPERTY IS A STRATEGY

THAT WILL MAKE IT STAND

OUT FROM THE CROWD

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News Review Messenger

(Photographic Advert)

First Priority Tenant Database - Email/SMS Alerts

Taylor’s First National Weekly Property Guide

The Rental market is no different from any financial market in that it is driven by supply & demand.

The experienced property investor understands that a cost effective but quality marketing program will more likely generate a higher level of tenant enquiry, provide a greater selection and higher quality of potential tenant, and assist in maximizing the rental income by minimizing the vacancy time.

Our expertise in marketing investment properties enables us to make them stand out from the myriad of other rental properties that are available.

Internet (Including the following websites) www.taylorsrealestate.net.au

www.realestate.com.au www.myhome.com.au

www.rent.com.au

Colour Window Display in our High Profile Office

For Lease Sign

Saturday Advertiser Advert

PRIOR TO RENTING YOUR HOME Prior to renting your property we suggest you consider attending to any minor

maintenance issues that may need attention.

The better your property is presented the easier it will be to

rent, and you are more likely to attract better quality tenants.

As part of our pre leasing procedure our property

management department inspect all properties and then

discuss with landlords any areas of maintenance we feel may need

attention prior to renting.

Particularly with health and safety issues we believe it to be

wise to rectify any of these potential hazards.

HOW YOU PRESENT

YOUR PROPERTY PLAYS

A LARGE PART IN THE

TYPE OF TENANT THAT

IT WILL ATTRACT

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PRE-LEASING MAINTENANCE CHECKLIST

Are gardens neat & tidy

Fix leaking taps & toilets

Fix sticking doors

Floors must be mopped & clean through out

Have cupboards been cleaned

Bathroom & kitchen thoroughly clean & free of mould

Have carpets been professionally cleaned

Remove & dump all rubbish

Are their any lifting floor coverings that could be a tripping hazards

Are the smoke alarms compliant

Is a safety switch fitted

Are there any other potential health & safety issues

SELECTING A SUITABLE TENANT WE ENSURE THAT A

SUITABLE TENANT IS

CHOSEN FOR YOUR

PROPERTY

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Selecting a suitable tenant for your property is possibly the most important aspect of property management.

Get it right and you will enjoy the long term benefits that owning investment properties can provide. However, selecting the wrong tenant can cause hardship, frustration and have you questioning the validity of owning investment properties.

As such we require all potential tenants to complete a detailed application form, provide proof of identity along with details of their past and present employment history, current income to debt levels, and previous rental history with contact details for those landlords.

If an applicant doesn’t meet our stringent leasing criteria our recommendation is not to enter into a lease agreement with them.

INDICATORS TO HELP SELECT THE RIGHT TENANT

Check employment history

Verify employment income level

Look at debt level (can they afford to pay the rent)

Check the bad tenant register for previous defaults

Photocopy of drivers license to verify identity

Contact previous landlords seeking honest reference

Note how they are dressed (well groomed or untidy)

Is their motor vehicle clean & well maintained

Are they polite and well mannered

Google search of applicant and past rental property

THE TENANCY AGREEMENT

WE ENSURE TO FULLY

EXPLAIN THE TENANCY

AGREEMENT AND TERMS &

CONDITIONS WITH YOUR

TENANT

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A written tenancy agreement between the landlord and the tenant is essential when leasing a property and specifies the rights and obligations of both parties.

It is a legally binding document but can be open to interpretation and it is therefore vitally important to have a good working knowledge of the “Residential Tenancies Act”.

All our property management staff are familiar with the various sections of this act. They regularly prepare lease agreements on behalf of landlords and note all the relevant terms and conditions of that rental agreements. These terms and conditions along with our other expectations are then discussed in depth with the tenant at the point of signing the agreement.

TERMS AND CONDITIONS CHECKLIST

The rental amount & initial payment dates

The lease term

The bond amount

Water usage payment arrangements

Lawn & garden maintenance expectations

Carpet cleaning requirements

End of tenancy requirements

Lost or misplaced keys

Maintenance request procedure

Rental payment methods

Our ZERO tolerance to rent arrears policy

Inspection frequency & access arrangements

Prior approval is required for keeping of pets

Consideration to noise levels for adjoining neighbors

Home business activities are not permitted

Our expectations on how the property is to be maintained

PROPERTY INSPECTIONS MAINTAINING THE

STANDARD OF

YOUR HOME

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To maintain a level of control over how a tenant keeps the condition of a rental property, it is essential that regular property inspections are conducted.

Our property management department conducts three types of property inspections to help minimize any problems that may arise during the course of the lease.

INITIAL PROPERTY CONDITION REPORT

ROUTINE/PERIODIC INSPECTION

FINAL (BOND RELEASE) INSPECTION

INITIAL PROPERTY CONDITION REPORT

Our property officers and inspectors complete this report prior to the commencement of the tenancy. It is a legal requirement and a condition of all tenancies that this report be conducted. It must be accurate, correctly detail the condition of the property at the commencement of the lease, and a copy must be issued to the tenant. Relevant property photos are also taken and attached to this report.

ROUTINE/PERIODIC INSPECTION

These inspections are designed to provide a means of checking that the tenant is maintaining the property to an acceptable standard, to report any maintenance or repairs that may be required, and to be able to provide landlords with regular information on the condition of their property.

Our property officers and inspectors conduct these inspections every four months on all properties, and forward a written report supported by digital photos to the landlord.

The tenant must be advised at lease seven days in advance of conducting these inspections.

FINAL (BOND RELEASE) INSPECTION

Our property officers and inspectors conduct this report once the tenant has vacated the property.

The initial property condition report is taken to the property and the current condition of the property is compared to that on the original report. If the tenant has damaged the property, a landlord can charge the tenant a reasonable amount of compensation for that damage.

Consideration needs to be given to fair wear and tear, along with the depreciated value of the damaged item when determining the amount of compensation being charged.

ZERO RENT ARREARS POLICY Our property management department takes their responsibility to ensure tenants pay their rent on time very seriously.

Our ZERO RENT ARREARS POLICY is discussed with all tenants at the time when they sign the lease, and as such we expect that policy to be adhered to.

Legally a property manager or landlord cannot take steps to evict a tenant for non payment of rent until the rent is 15 days in arrears. This means on the 16

th day we may issue the

tenant with a “FORM 2 - NOTICE TO REMEDY BREACH OF AGREEMENT” which allows them a further 7 days to remedy the rent arrears breach from receipt of the Form 2 notice.

Should the tenant fail to pay the full rent owing by this deadline a “FORM 7 – APPLICATION TO TENANCIES TRIBUNAL” is sent to the Residential Tenancies Tribunal applying for an order to have the tenant evicted from the property and balance of all rent money owing paid in full to the landlord.

Prior to the issue of these notices our property management department will have attempted to contact the tenant on a number of occasions by sending reminder SMS messages along with the posting of a variety of letters in an attempt to try and ascertain why, and how they intend to remedy the breach.

OUR ZERO TOLERANCE PROCEDURE

DAILY

- Print all rent arrears report

DAY 5

- First reminder letter

DAY 10

- Reminder call to tenant advising of their rental status

- Post letter if unable to contact them

DAY 16

- Prepare and serve FORM 2 Notice on tenant by post

DAY 27

- Prepare Form 7 and apply to Residential Tenancies

Tribunal seeking eviction and a full

payment of rent order

- Advise Landlord of status

- Send letter to tenant “Eviction Pending” your

immediate attention required

DAY OF HEARING

- Prepare and attend hearing

RTT DECISION ADVISE

- Advise landlord

WE TAKE THE

PAYMENT OF YOUR

TENANTS RENT VERY

SERIOUSLY

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REPAIRS AND MAINTENANCE WE CARE FOR YOUR

TENANT AND FOR

YOUR PROPERTY

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Possibly one of the most difficult aspect of property management is the handling of maintenance issues.

Property managers can spend considerable time trying to co-ordinate the various types of maintenance and repairs that are required to rental properties during the course of a tenancy. They need a clearly defined and structured procedure in place to ensure tasks are attended to in a timely fashion, and to avoid the possibilities of a tenant taking legal action against a landlord for breach of agreement.

Firstly they need to be able to determine the nature of maintenance problem. Is it an:

Emergency problem

General problem

Health & Safety problem

Next is to determine whether the responsibility to repair lies with:

Landlord

Tenant

Strata or Community manager

Insurance Company

From there it’s contacting the relevant party responsible for the repairs and seeking their approval to attend to the repair work.

Then it is to determine, contact and book for the work to be conducted by a suitable tradesman. Does the job need a:

Licensed tradesman (Electrician, plumber etc)

Specialist tradesman

General handyman

Finally it’s contacting the tenant to advise the day and time that the work will be carried out, or details of the tradesman who will contact them direct to book a suitable time.

Here at Taylor’s First National we have developed our systems and procedures over the last fifteen years. We now employ a designated maintenance officer who attends to all repair issues, and have developed our own maintenance division “Combined Home Maintenance Services”.

This has enabled our Property Management Department the ability to quickly attend to maintenance issues. It also has provide us with more control over the important aspect of minimizing the potential risk to landlords in relation to property maintenance and health and safety issues.

COLLECTING RENT - PAYING THE OWNER CASH FLOW

MANAGEMENT

AND REPORTING

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All money received by us in relation to managed rental properties is paid directly into our trust account. This account has strict guidelines in how it is to be managed, and we have an obligation to ensure we distribute those funds in the appropriate way.

Our policy is to reconcile our trust account on a daily basis to ensure it balances correctly, and all deposited funds are allocated to the correct landlord ledgers.

HOW DO WE COLLECT THE TENANTS RENT

When the tenant signs the lease they are given four rent payment options:

They are provided with a “Direct Bank Deposit Book” and can pay their rent at any Bank SA branch

They can make payment at our office by Money Order or Cheque

They can have their own bank directly debit their account and make payment directly to our trust account

They can transfer funds over the internet directly into our trust account

As part of our Best Practice Accreditation & for security reasons we do not accept or hold cash at our office.

WHEN DO OWNERS RECEIVE THEIR MONEY

Funds in our trust account are paid to landlords at the end of each month by “Electronic Funds Transfer” directly into their nominated bank account.

If these funds are being paid directly to a mortgage account it is a good idea to have that account paid several months in advance, in case the tenant is late with their payment, or the property becomes vacant.

MONTHLY STATEMENTS

Monthly rental summary statements are posted to landlords at the beginning of each month. These detail:

Landlords name and postal address

Date and time the statement was printed

Details of all monthly income & expense

Address of the property

Tenants name

Weekly rent amount

Date to where the rent is paid up to

Date the lease is due to expire

ANNUAL STATEMENTS

At the end of June each year, and to assist landlords with their end of financial year taxation reporting requirements, we provide all landlords with an itemized statement detailing total rent collected and expenses incurred through-out the year.

This statement along with each monthly statement should be forwarded to your accountant.

INSURANCE - MANAGING THE RISK

RISK MANAGEMENT

STRATEGY SHOULD

ALWAYS BE

CONSIDERED

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With most investments there is always a level of risk – the greater the return the greater the risk. Owning investment property is no different.

More than ever, landlords are at the risk of financial loss attributable to the actions of tenants, even when the property is professionally managed.

As such we strongly recommend all landlords take out both building and a landlord protection policy in order to manage this risk.

As we do not hold a Australian Financial Services License we are not able to provide you with advice on insurance, however we are able to provide you with general brochure information about the service available to you.

If you would like to receive a brochure about these types of insurance please contact our office.

SELLING YOUR RENTAL PROPERTY

MANAGING THE

SALES PROCESS

OF RENTED

PROPERTIES

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Unfortunately selling and renting your property at the same time is not always a happy marriage. The fact is we are all protective of our individual rights and quite often unsure of exactly what they are.

Basically, you are entitled to have prospective purchasers view the premises at a reasonable time of the day and on a reasonable number of occasions upon supplying the tenant reasonable notice. The tenants also entitled to reasonable peace, comfort and privacy or the quite enjoyment of the premises.

Of course the question arises just “what is reasonable”.

TAYLOR’S FIRST NATIONAL are experts when it comes to selling and renting your home. So, what could make more sense than have us look after both for you.

The fine balance between the rights of both parties will be thoroughly observed and at the end of the day you’ll have achieved the highest sale price possible in the shortest possible time whilst enjoying the benefits of a total property management package.

SERVICE GUARANTEE TAYLORS FIRST

NATIONAL BEST

PRACTICE

GUARANTEE

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Everyone gives guarantees, but what do they really mean? In some cases very little.

That’s where TAYLOR’S FIRST NATIONAL is different. Being a Best Practice accredited office means we can guarantee our service to a pre-determined and written standard for every part of our real es-tate business.

Only by establishing Best Practice standards can we guarantee to meet and exceed your expectations in the leasing and man-agement of your investment property.

Should a problem arise, it will be corrected quickly and to your satisfaction.

Few real estate companies can genuinely guarantee this level of service. However you can be confident in knowing that you are dealing with a company that not only has a proven commitment to customer service, but a system that is driven by continuous improvement.

COMPANY POLICIES

It is Policy of Taylor’s First National Real Estate that:

We treat people the way we would like to be treated ourselves

We constantly strive to achieve expectations.

We always act in the best interests of our clients

We maintain our Quality Systems to First National Gold standard.

We recruit, develop and endeavor to retain the best people.

We expect everyone to strive for improvement.

We incorporate quality into everything we do.

We constantly review and update all of our systems.

We meet all statutory, legal and industry requirements.

We record and analyze all non conformance to drive improvement.

The privacy of clients and customers is of paramount importance, information is only provided to those parties involved in or potentially involved in a transaction with our company. Our privacy statement and individual client and customer data is available to the individual upon request.

Paul Taylor

Managing Director

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THE TAYLOR’S FIRST NATIONAL TEAM

OUR DEDICATED AND RELIABLE TEAM

OF REAL ESTATE PROFESSIONALS

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SALES DEPARTMENT

PROPERTY MANAGEMENT DEPARTMENT

ADMINISTRATION

MANAGING DIRECTOR

Paul Taylor

Jakub Ratajczak Tim Schwarz Ken Loft

Tamika Roper Rhonda O’Callaghan Tammy Taylor Kylie Potter Dave Pavy

Carolyn Carruthers Caitlin McGreen Renee Goulding

Property Manager Property Inspector Maintenance Coordinator Rental Administrator Maintenance Tradesperson

Sales Consultant Sales Consultant Sales Consultant

Principal

Accounts/Office Manager Receptionist/Marketing

Coordinator Administration