• Advertising placed in the newspaper and Internet.
• Show prospective tenants through your investment. Keys are not issued to prospective tenants.
• Conduct Home Opens where necessary
• Process all applications, to confirm:
• Employment & Earning capacity
• Rents paid up to date at all times
• Inventory of fixtures and fittings
• Any issue of Breach of lease conditions needed at any time during the tenancy period and if issued for what purpose, and the full details of the breach
• REIWA Rent Check. Inquiries are made with the REIWA database which gives details of defaulting and undesirable tenants.
• All information gathered is supplied to you, the owner, where you have teh option to accept or decline the application.

• Preparation of the appropriate documentation:
• The Lease Agreement.
• The Property Condition Report.
• Inventory of fixtures and fittings.
• Other documentation specific to the agreed terms of the lease.
• Collect and lodge tenant bond monies as specified within the Residential Tenancies Act 1987.
• Pay authorised accounts and statutory charges.
• Disburse the net rent to the owner in accordance with your instructions, along with a detailed computerised statement.
• Establish and maintain property and rental records.
• Conduct regular routine inspections of your property.
• Advise you of maintenance requests from tenants.
• Prepare specifications for tradespeople.
• Arrange quotations for repairs and maintenance.
• Confirm completion of works to a satisfactory standard.
• Undertake project management of capital repairs and improvements.
• Administer rental reviews and lease expirations.
• Arrange insurance cover as directed and oversee any insurance claims.
• Prepare applications and serve notices in compliance with the relative legislation and/or tenancy agreement.
• Represent you at Court Hearings or Strata Company Meetings
• Undertake inventory/property conditions reports.
• Keep abreast with changes in legislation that may affect the owner or the property.

Immediately prior to the commencement of the Tenancy Agreement and occupation by the tenant, we complete a detailed Property Condition Report. A copy of this report is provided to the tenant with the original being retained by Real Estate Masters.

An Inventory Report is only necessary if the property is furnished or partly furnished. It works much the same way as the Property Condition Report.

During the course of the tenancy agreement, trained Real Estate Masters staff will provide regular inspections of your property. Whilst we recommend that the property be inspected quarterly, the frequency is determined by you in consultation with your Property Manager.

Each inspection will result in you receiving a written report giving you the details of the condition of your property together with any recommended maintenance.

The final bond report update includes all work carried out in relation to the bond. This includes:

• The bond inspection, which determines if the tenants have, left the property in the same condition stated on the Property Condition Report.
• Bond disposal forms to be completed and ensure the tenant signs and returns the completed form to our office.
• The bond to be dispersed between you and the tenant.

We are always conscious of the importance of maximising the rental return to owners receive on their property, therefore rent reviews occur every six (6) months or on the expiration and/or termination of the lease. Appropriate recommendations are submitted to the owners for their consideration.

Monthly statements are provided detailing a summary of income and expenditure applicable to your property.

Your money can be paid direct to you by cheque or be placed into your nominated bank account.

At the end of each financial year we can provide you with an Annual Summary for the previous 12 months providing a detailed summary of your income and expenditure applicable to your property. This report can be presented to your accountant.

Postage and Petties covers our costs of mailing letters to the owner, photocopying of documents for our files and the various telephone calls, which take place between Real Estate Masters as the agent, the tenant, the owner and any repairs, which need to be arranged.

This cover is NOT normally provided to private landlords NOR on your normal householder’s policy and at a minium of $195.00 per year it is a low-cost peace-of-mind insurance. Not only is it affordable, but also you could receive as much as 48.5% back as a tax deduction.

For further information please contact the Property Management Division.