from Vacant to leased switch up to Savvy
PREPARING YOUR PROPERTY FOR RENT
Our first meeting will be to inspect your property, meet with you to ascertain your needs and create a plan to lease your investment. If the home is currently tenanted, we will work with you to change management seamlessly and introduce Savvy to your current tenants. This is when we also discuss any issues you are having as a landlord and how we can resolve successfully. The more information you provide and voicing your expectations will ensure our relationship flourishes for years to come.
Consideration needs to include the following: Landlord insurance and tax depreciation schedule. Is this a short term or long-term rental? Who is your target market? Is it worth the outlay of upgrading your home to create a better return? What improvements are important? Are all legal requirements met?
How can we maximize your return?
Let’s make a plan together to
Achieve your goals
WHAT NEEDS TO BE DONE & FORWARD PLAN
Does the property need any upgrading, we can assist with all tradespeople?
We can obtain painters, cleaners, gardeners, electricians, plumbers, roofers, fencers, painters, flooring and many other tradespeople you may need to prepare for rent. We need to work within a budget and plan ahead.
TARGET MARKET - TENANT REQUIREMENTS - DEMOGRAPHIC
We look at location as a first step, what is local? Schools, universities, transport, shops and parks. Exactly the same as a sale appraisal. Suitable for families, singles, couples and the demographic of the area. For example, an apartment will be more popular for couples, students and singles that is close to facilities and entertainment. A home of 3 bedrooms, 2 bathrooms will appeal to the family unit with schools being the paramount requirement.
THE NEXT STEP and $$$ value
Our information will include current available rentals, a comparative market analysis of the area, demand and supply in the area. Our information will include current available rentals, a comparative market analysis of the area. We can now determine the rental value per week. We will discuss lease terms, e.g., 6/12 months or other options.
Well written advertising with excellent photos is the face of your property. A future tenant will select a home to apply for in the first 60 seconds of viewing a potential rental. In those 60 seconds, information required is how many bedrooms, bathrooms, air conditioning, wardrobes, outdoor entertaining area, proximity to services. How much is the rent, when is it available, how long is the lease. We must capture the attention of the prospective tenant immediately. You will be informed of each inspection time and updated on progress, feedback and outcomes.
APPLICATION PROCESS AND VIEWING THE RENTAL
We accept applications electronically via www.tenantoptions.com.au This will include current references, identification, employment summary, financial eligibility. We can now make an informed decision to present the potential application to the landlord. We invite potential tenants to a viewing of the home and we make ourselves available to suit the tenant. After all, many people work shift work etc.
After the property has been inspected by a potential tenant, we will liaise with you to discuss approval, start dates and lease terms. At this time a start date will be decided.
Remember!! You have the final decision.
BOND AND RENT RECEIVED
THE ENTRY CONDITION REPORT
The entry condition report is vital to report and photograph the condition of the property at the beginning of the tenancy. This is used throughout the tenancy to identify any changes, this can be issues with cracking in walls or movement in the structure for example, identify neglect versus wear and tear. The report identifies appliance models for maintenance if required. We take photos of gardens and can compare any change or detriment that needs addressing throughout the tenancy. Every part of the property interior and exterior will have a record.
MOVE IN DAY – HANDOVER TO TENANTS
A designated time and date are arranged to meet the tenants to handover keys. We do this at the property and do a full inspection together. Remember the tenant has only seen the house once! Probably for only about 10 minutes. We take the time to show them where the electricity, gas and water meters are. We discuss how appliances work and expectations of maintaining the property. Most importantly we advise how to report maintenance and our procedures. We also provide a checklist to each house with emergency phone numbers, simple safety procedures and the tenant portal details for manuals of appliances. Taking this time on the first day ensures a smooth transition.
REPORTING TO THE LANDLORD
We let you know as soon as the tenant has started the lease and moved in. We will complete the first inspection of the home after 30 days and report to you with photos. This gives us the opportunity to meet the tenants again after they move in and answer any questions they may have. It also gives you peace of mind that your home is in safe hands.
Our routine inspections will be carried out after this at 4 monthly intervals and you will receive a report each time. Any maintenance will be alerted to you and we will mutually discuss the best course of action. At all times you will have full knowledge of your investment property.