Property Management Services |
| At McColl Property, we understand the needs of the landlord. We carefully select our tenants to create a win/win for both landlord and tenant. We can either offer a complete property management service or a service tailored to the landlord’s needs. We manage both residential and commercial properties and have a selection of qualified trade’s people available for property maintenance and repairs.
As you will know, the success of a real estate investment and its potential for capital growth depends greatly on good management.
We would like to thank you for taking the time to consider McColl Property to manage your investment. We look forward to developing a relationship that may last for many years to come.
We are members of the Real Estate Institute of Victoria and are governed by stringent laws.
The following are some good reasons why you should engage McColl Property to manage your property in the future.
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Valuation of the Rental Property |
| We appraise the true rental value of your property based on comparison of similar properties in the area and consider current market trends that may affect your property.
A realistic rental valuation is essential to ensure your property is let promptly, resulting in a better financial return on your investment in the long term.
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Selection of Tenants |
| Our comprehensive rental application process enables us to establish current and previous tenancy history, employment status and professional references. We always take due care in personally showing potential tenants through your property. After we have established a profile of the applicant and potential suitability we will contact you with our submission and the final choice is yours. |
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The Lease Agreement |
| We prepare all documentation in accordance with the Residential Tenancies Act ensuring stringent legal compliance. It is also our responsibility to ensure that the tenant is fully aware of the legal obligations in signing the lease and that any additional clauses are included if need be. |
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The Condition Report |
| It is imperative that a detailed condition report is carefully prepared at the beginning and end of a tenancy. Photographic evidence and a written report is kept on file to substantiate any claims. |
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Rental Payments |
| Our company offers the tenants a preferred method of payment that is the most convenient to the tenant that in turn assists in prompt rental payments.
We disburse our landlords fortnightly and can forward payment either by cheque or direct deposit. A detailed financial statement including any outgoings incurred on the property will be forwarded with the funds.
In addition to your fortnightly statement, we provide a fully detailed financial statement at the end of the financial year to assist you with your taxation.
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Arrears |
| Even though we screen our tenants, there is occasion when rental arrears do occur. Arrears notices are forwarded at 5, 7, 10 and 14 days as well as frequent telephone calls, E-mails and SMS until the rent is brought up to date. Where no favorable response results, upon your instruction, we will proceed with the appropriate legal action through the Residential Tenancies Tribunal. |
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Maintenance of the Property |
| Prior to the initial tenant occupancy and for the duration of the lease, certain maintenance may be required. It is our policy that owners are contacted and authorization obtained before work can be carried out (other than emergency repairs as stipulated by the Residential Tenancies Act). Or alternatively may organize any works to be carried out on your behalf if requested. We have access to trusted and qualified trades people or we can use your preferred qualified tradesperson to carry out repairs. We just require information of the tradesperson for our file.
As a landlord it is important to maintain your property as it is your investment and a well maintained property is attractive to good tenants.
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Rental Reviews and Routine Inspections |
| Rents are viewed annually, taking into account market conditions and any change in the actual property. A landlord is required to give the tenants 60 days formal notice of an increase in the rental.
A routine inspection is conducted on all new properties undertaken for management to ensure the tenancy is running smoothly and safeguard our client’s financial interest.
Routine inspections occur at 6 month intervals, the first being at 3 months into the tenancy, second 9 months and so on and so forth. Following each routine inspection, a full report of the condition of the property and any maintenance required is forwarded to the landlord.
At the end of a fixed lease, you have the option to ask the tenants if they wish to sign a further fixed term lease or stay on a month to month lease basis, depending on your situation at the time.
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Victorian Civil and Administrative Tribunal |
| The Residential Tenancies Act is designed to define the rights and responsibilities of both the Landlord and Tenant.
Our staff is fully experienced in laws relating to the Residential Tenancies Act and is able to professionally represent clients at the Victorian Civil & Administrative Tribunal. Although, thanks to our rigorous tenant selection procedure, we do this rarely. |
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