Our Property Management
There is more to Property Management then just collecting the rent. The following is a list of what we do for all of our landlords.
By entrusting the management of your valued investment property to Richardson & Wrench Lithgow, you can rest assured that we’ll look after it with an exceptional level of care and provide you with absolute peace of mind. We’re committed to maximising the return on your investment, minimising vacancies and providing accurate rental appraisals and ongoing rental reviews. We source the very best fully reference-checked tenants and work hard to forge close ties with them to ensure they treat your property with the respect it deserves. As you can see, you can expect regular feedback and reporting from us as well as targeted, cost-effective marketing of your property through a selection of mediums such as web, database, print and signage. Changing Property Managers can be simple and stress free, not cost you any time or money and you can be sure that we will take care of any details for you.
Finding a Tenant
> Researching the market to determine an accurate and attainable rent price for your property
> Photograph your property
> Upload your property to realestate.com.au, domain.com.au, rwlithgow.com.au
> Contact our large and constantly updated database of prospective tenants
> Erect a signboard at the property to advertise to a local market
> Regular open inspections
Keeping You Informed
> Phone or email you with regular updates
> We email our landlords property reports from realestate.com.au and domain.com.au weekly as well as advise you of the outcome of our Open Inspections we have held
Thorough Tenant Selection
> We have a detailed application form supplying us with all information needed to thoroughly research each applicant
> Tenant Checking System (TICA) – we use the market leader of tenancy databases which allows us to do a background check on all of our applications to see if they have been previously blacklisted
> Rental references – contacting their previous real estate agents for a reference and tenancy ledger (rent payment history)
> We will contact you with any applicants that we have selected that we know would make suitable tenants for your property
> We aim to provide you with guidance and advice when selecting your tenant. We are proactive and firm when selecting applicants and make the process stress free for you
Tenancy Agreement Preparation and Condition Reports
> After we have selected a tenant for your property, we take one week’s holding deposit from the tenant to secure the property to them and we are sure not to cease advertising of the property until the holding deposit is paid. We then prepare the lease and ingoing condition report
> We do a thorough condition report and take photos of the condition of the property before the tenants have signed the lease, which protects your property in case of any damages that may occur to your property through-out their tenancy
Management Through-out Tenancy Period
Rent Collection and Strict Arrears Management
> Our rent is receipted daily. Which means if your tenant is falling behind in their rent we are made of aware of their arrears immediately and we send them emails and letter notifications of their arrears
> If they fail to pay their rent after 14 days, they will be sent a Termination Notice. This notice usually brings prompt response from our tenants, though if it doesn’t work, we will contact you to discuss whether you wish to go ahead with the Termination Notice or allow the tenant more time to pay the outstanding rent
Paying Your Accounts
To make life easier for you, if you choose to, we can attend to payments of your accounts such as repairs & maintenance, insurance premiums rates and strata levies. If selected, we will have these accounts redirected to our office where we can pay them, if a water bill we will pay your rates as well as bill the tenants for their water usage. You will receive a copy of your accounts with your End of Month Statement.
Other services we can connect you with:
> Smoke Alarms Australia – for regular maintenance and a certificate of compliance for your smoke alarms
> Landlords Insurance
> Tax depreciations
Repairs and Maintenance
For any repairs or maintenance of your property that we are reported of, or find in our regular routine inspections, we will contact you immediately. We have a large list of local experienced tradesmen which can attend to any repairs and maintenance that may arise.
We conduct regular routine inspections at all of our properties. We arrange an initial inspection of the property usually 8-12 weeks after the tenants have moved in, and depending on the first inspection, every 3-6 months after that.
Financial Statements and Remittance to You
> We account to you at the end of each month. Statements can be mailed or emailed, or both if you choose. With copies of any accounts we have paid for you through-out the month, which will show on the statement as well
> End of financial year statements are available
Notify the Landlord
> Should we receive notice of your tenant vacating the property, we will contact you immediately and seek your instructions and plan advertising
End of Tenancy Inspection (Bond Inspection)
>A thorough end of tenancy inspection is conducted to determine the condition of the property
> If the property has any repair or maintenance needed we will give the tenant a chance to go back and fix these issues, if the tenant fails to do so will arrange tradesmen or cleaning services and deduct these payments from the tenants bond
Where it becomes necessary, we will represent you at the Consumer Trader & Tenancy Tribunal, whether is it so seek compensation and orders on the tenant or defend any actions they may initiate. In few instances this may occur during a tenancy.