What do I get for my fee?

Many new and experienced investors often ask us this question, what services does our property management fee cover? Having a property manager is almost like having a personal assistant to manage all aspects of a rental property on your behalf. When viewed in this way, your investment of a few dollars a week doesn’t seem like a very big commitment.

Your Raine & Horne property manager will screen and interview tenants for you, collect the rent, organise repairs and deal with any issues that may arise, among other duties. In fact, the following is a comprehensive list of the tasks your property manager will perform on your behalf:

Interview and screen potential tenants
Advertise the property in the media if required
Report to the owner on all progress and applications recommended and not recommended for the property
Lease the property to suitable tenants under the owner’s instructions
Prepare all lease agreements
Lodge and account for security bonds
Appraise the rental value of the property
Conduct rent reviews and rent increases
Arrange repairs by tradespersons as required
Pay accounts including council and water rates, maintenance, gardening, and insurance
Control all correspondence for the property
Keep the owner up-to-date on all matters concerning the property, including rent reviews and insurance, and recommending initial repairs or maintenance prior to the letting of the property
Renew lease agreements under the owner’s authority
Exercise the owner’s rights to issue all notices
Return bond money on termination of the lease and account to the tenants and owners for this money
Prepare monthly statements of account for all income and outgoings for the property
Select tenants and sign lease agreements on the owner’s behalf
Re-let the property at the end of each tenancy in accordance with the owner’s instructions
Conduct random drive-by inspections to ensure the external façade of the property is well maintained and tidy
Carry out regular inspections as required
Prepare final year summary to maximise your legal tax entitlements

Your real estate investment and its potential for capital growth and healthy rental yields depend very much on good property management.

Remember – your fee is also fully tax deductible.

What Do You Get For Your Fee?