Our Property Management Team is headed by Sandra Bamford who has extensive business and real estate experience. Running her own business successfully for many years, having first hand experience in being land lord and tenant, as well as advanced Diplomas in Business Management & Management (Human resources) is just some of the life experience Sandra brings to her role as Portfolio Manager. Integrity, a strong focus on communication, reliability and organization are key traits which she believes makes a successful property manager.
The Repairs and Maintenance service has been specifically set up to respond promptly and efficiently to all enquiries and requests. Should Property Owners chose to use their own specified tradesmen, our Repairs and Maintenance service will contact them and arrange the required service to be completed.
David R Jones, MNIA, RTA, CBS (Accounting), Managing Director of Financial Services of Tasmania, will be available to answer any tax queries.
John W Hamilton, B. Sc., Ph. D., B. Bus., of Hamilton Accounting Services has been appointed as Trust Account Auditor.
Promoting your Property
We are able to promote your property on realestate.com.au and exclusively though our website: www.rentalroom.com.au. Prospective tenants will be able to view your property and its features together with all relevant details to enable them to select those properties they are interested in and contact us directly.
Promotion of your property will be tailored to current market trends and the demographics of the location.
Rental Assessment
To ensure that you receive the best possible return on your investment, we take the following factors into consideration to arrive at a current market rental rate:
Rent obtained for similar currently leased properties in the same/similar location
Rent obtained for similar currently available properties in the same/similar location
Current general market demand including seasonal demand
Rent reviews are conducted when the property is re-let or if the lease is renewed.
Tenant Selection / Security of your Property
Viewing of your property is by appointment only and after tenant applications have been processed for suitability. Our comprehensive Tenancy Application form is available for your viewing on our website. The information provided on the Tenancy Application form is verified by:
ID documentation checked
Rental History checked
Employment History checked
All Referees checked
Conducting a search of the National Tenancy Database to confirm they have not defaulted previously, are not an undischarged bankrupt or have been previously bankrupt.
We personally accompany prospective tenants to view your property which assists us in the selection process of suitable tenants by further assessing them in the surrounds of your property. This procedure ensures the security of your property. We do not give out keys to prospective tenants to view your property alone!
Documentation in Support of the Tenancy
When the Tenancy Application has been checked and verified and the prospective tenant chosen and before the keys to your property are handed over:
A standard Tenancy Agreement issued by the Real Estate Institute of Tasmania is completed. There is provision in this lease to cover any specific requirements of the property or tenant.
A Condition Report is recorded on video, providing audio and photograph evidence, and includes evidence of items remaining in the property.
The Security Bond (equivalent of four weeks rent) has been paid to the Rental Deposit Authority and the receipt provided with Bond No.
Two (2) weeks rent in advance is collected.
Financial Reporting
The exclusivity of our “valued added service” provided to Tax Agents’ clients allows us to present financial reporting which conforms to the current codes required by the ATO in preparing Income Tax Returns.
You will be encouraged to allow Rentalroom.com Pty Ltd to pay all outgoings applicable to the property to enable a complete rental history to be compiled thus saving you time and money with record keeping. All transactions will be recorded in Excel spreadsheets which will be emailed to you on a monthly basis.
At the end of each financial year, rental information gathered by Rentalroom.com Pty Ltd will be emailed directly to you and your Tax Agent. This will allow your Tax Agent to pre-populate your rental schedules, thus saving time and minimizing your income tax preparation fees. Your Tax Agent/Accountant will not have to charge you for time to interpret financial information received from your Managing Agent before being able to compile your rental schedules.
A CD will be forwarded to your Tax Agent with property information including your scanned documentation to assist in deciding the status of some expenses such as repairs or capital improvements.
We record and store all the documentation required to be held under taxation legislation in an approved format.
Minimising Loss of Income or Damage to Your Property
It is essential that your property is maintained in optimum condition to enable you to obtain a maximum return and prevent loss of income.
We conduct our first property inspection 1 month after the tenancy commences. This allows us to ensure that the tenant is settled in the property and to confirm the tenant's responsibilities under the Tenancy Agreement. Our property inspections are then conducted at 4 monthly intervals during the term of the tenancy.
Rent payments are made via Debit Authority Form from the Tenant's nominated bank account. Our administrative staff monitors rental receipts on a daily basis to ensure effective arrears control.
We will advise you immediately when the tenant is vacating to discuss your requirements.
A rental review will be conducted when the tenant vacates or advises they wish to extend the lease.
Promotion of your property will commence immediately upon receipt of vacating notice.
A final inspection will be conducted prior to the Security Bond being released, and only after we are satisfied the property has been left in an equivalent condition to when the tenancy commenced - subject to fair wear and tear.
Property Management Fees
Rentalroom.com.au will charge a fee for service (similar to other professionals) - we will not charge a commission. In other words, you will be charged for the service you receive. Our fee based system remains constant. When the rent increases our fees remain the same.
Please contact us to discuss our fees and to arrange an inspection of your property.
