Want to maximise your investment property? The right Property Management team can ensure that you have peace of mind and your investment continually performs at its peak.
Selection of tenants
We ensure that our selection process ensures that obtain the best possible tenants with our rigorous investigation of all applicants. We ensure all past and current employment details, rental history, financial and identification details of applicants are checked and correct, with thorough checks on TRA, which is a membership we register to, to ensure any blacklisted tenants are not approved into our landlord properties.
Initial Inspections prior to entry
Prior to a qualified tenant moving in we inspect and assess your property and provide a detailed report of its condition. Routine inspections are then conducted up to four times a year and can be attended by you. This report basically advises you of the current state of your property, how well the tenant is maintaining the property and what repairs are required. We often take photographic records where necessary, if we believe photographic evidence is required.
All tenants are given a variety of payment methods, including direct debit and the DEFT Internet and BPAY telephone payment system. Through our REST property management system we gain immediate notification of any overdue amounts and act quickly to ensure payment.
Disputes with tenants are uncommon and are generally resolved by our property management team. Should a satisfactory result not be gained through negotiation the Property Manager applies for a Residential Tenancy Tribunal hearing, at which we are able to prepare a case to represent the landlord’s interests.
Ensuring Maximum Return
Our role is to ensure that maximising the returns of your investment is one of PRDnationwide’s Real Estate key priorities. We continually run and assess the rental prices of properties and we take into consideration factors including market conditions and the quality of the tenants.
Insurance – The Home Owner’s Friend
A timely warning from Frank Mazzotta from PRDnationwide Bexley North - Make sure your property is adequately insured. With insurance becoming an increasingly necessary part of modern life, particularly for people leasing a home or with a home loan, it can be an extremely large investment and a necessary one to protect with the help of insurance. Frank Mazzotta the director from PRDnationwide says that many people forget some of the very basic rules when it comes to insuring their home and its contents. Frank Mazzotta says there are many different types of insurances that people need to be aware of.
First up, is building insurance. Your lender won't lend on a house that isn't insured and this level of insurance is the bare minimum that both your lender and your conscience will let you get away with. It protects you from such disasters as fire, earthquake and other natural disasters, but it's important that you be aware of what you are not covered for. For example, flood damage is often not covered by building insurance policies.
Frank Mazzotta also says that many people fall victim to under insurance.
Once you've established what you consider to be a fair amount of insurance to carry on your property and that satisfies your lender, you need to be aware of under insurance. In an effort to keep premiums down, many people understate the value of their homes and under insurance is usually an oversight or miscalculation as a result of that. Under insurance can be extremely dangerous and costly and you can find yourself falling victim to what is known in the insurance industry, as the average clause.
If you are under insured, for less than say 80% of the value of your home, you can be regarded by the insurance company, as a co-insurer. This means that if anything happens to your property, you'll have to foot 20% of the bill yourself.
For example, if you are making a claim on your under insured property of $50,000, you'll find that the insurance company has the right to describe you as a co-insurer and therefore rather than pay you the full $50,000, they can actually make you responsible for 20% or thereabouts of that $50,000 claim.
It is extremely important that you seek advice and the Insurance Council of Australia is one area where advice on all types of insurance can be given. Also, your local PRDnationwide agent can assist you and point you in the right direction for the type and quality home insurance that you may need.