Real Estate Agents and Rental Property Managers Team

Daniel Gow
Daniel Gow New Business Specialist

GET TO KNOW DANIEL GOW

MY NAME: Daniel Gow

I AM: The New Business Specialist at Calibre Real Estate.

PROUDEST MOMENT: Being the first in my family to graduate from University.

BIGGEST CHALLENGE: Saying no to Chocolate. It’s like, I don’t want to disappoint Chocolate by saying no to it when it calls to me.

ALARM CLOCK: No thanks.

PERFECT DAY: An Esky, a few chairs, a few friends and a creek. Maybe an inflatable boat or a kayak.

FIRST JOB: I worked as fast for a chicken takeaway restaurant, or a rooster takeaway restaurant, depending on how you look at it.

SUPER HERO POWER: If I got to pick any superpower I would choose Telekinesis (moving stuff with my mind), because then I could do so many things at once!

FAVOURITE SPORT IN BRISBANE: Bunya Crossing – a peaceful little river in the Bunyaville Reserve.

INSPIRATION: My inspiration is my family and the important people in my life.

I became involved in Property Management at the beginning of 2016 and I take the utmost care in delivering exceptional service to our clients.

I have great attention to detail and if you have anything to do with myself, always feel free to call me anytime! I’m always ready to assist you in whatever you need. I’ve come into Property Management from a background in Commercial Radio and Retail and I feel really fortunate to be working with the entire Calibre team.

I strive to continually improve my professional growth and I thrive on integrity, commitment and one day hope to own my own business. I plan to stick around for a long time here at Calibre though, so if you’ve got an investment property you would like to chat to me about, please feel free to give me a call.

I look forward to that moment but until then, have an awesome day, everyday!

WHAT DO YOU LOVE ABOUT BRISBANE

I love that there is a great mix of metropolitan/suburban spaces with heaps of environmental reserves and loads of adventures to be had all within an hours drive.

DANIEL'S LISTINGS

83 Coopers Camp Road

Bardon

23/36 Jerdanefield Road

St Lucia

12 Moulton Street

Ashgrove

14 Chatsworth Road

Greenslopes

DANIEL'S ARTICLES

4 Mistakes to Avoid When Renovating For the First Time

Every once in a while, you may want to spritz up your home. But renovating can be a time-intensive and expensive process. Here are four renovating mistakes you can avoid. 4 Mistakes to Avoid when Renovating for the First Time 1. …
successful property investment
Successful property investment
successful property investment

10 Top Tips For a Successful Property Investment

In order to ensure you are securing yourself a successful property investment, there are a few key things you can do. In this article, we’ve outlined the key aspects of a successful property investment. Getting these important tips right could …
winning tenancy application
choose a mortgage broker winning tenancy application
winning tenancy application

How to Lodge the Winning Tenancy Application

When lodging a tenancy application, there are a few key things you can do to arm yourself with the best possible chance of being successful. Trying to find a new home to rent can be exhausting. Particularly if you know …
terminate a tenancy agreement
terminate a tenancy agreement
terminate a tenancy agreement

How To Terminate A Tenancy Agreement

There are a multitude of reasons whereby a tenant or a landlord might need to terminate a tenancy agreement. In Queensland in particular, the Residential Tenancies and Rooming Accommodation Act (RTRA Act) have ensured there are fair and reasonable …
Rent your house
Rent your house
Rent your house

How to Rent your House – Free From Stress & Worry

When you go to rent your house, its success will rely heavily on your rental strategy. If you have a property you are considering leasing out, understanding & implementing the right rental process is vital. With a fool-proof strategy, you …
switching property manager
switching property manager
buying your first home switching property managers

Landlords Guide To Painlessly Changing Property Managers

Changing property managers doesn’t need to be painful. While it may be a lot easier to just throw it all in the ‘too-hard’ basket, making the switch really can give you peace of mind and save you a lot of …
property management
Property Management Tips
Property management tips

Top 8 Stress-free Property Management Tips For Landlords

When it comes to managing your property, there are a few property management tips that could …

Every once in a while, you may want to spritz up your home. But renovating can be a time-intensive and expensive process. Here are four renovating mistakes you can avoid.

4 Mistakes to Avoid when Renovating for the First Time

  1. 1. First Things First – Finance

Renovating your home for the first time is expensive. You need to be prepared for expected as well as unexpected expenses. Which is why it is always advised to add 20 percent to your budget as a precaution.

If you are still paying your mortgage, this article guides you on how to use your mortgage to finance your renovations, along with your savings.

  1. 2. Approval from Council

You may not know this when you’re renovating for the first time. Any kind of renovation work, even if it’s just painting the outside of the house, you need to sign a contract that gives you approval from the council to start your renovation work. This article from Allianz gives you all the details for contracts that need to be signed.

  1. 3. Do It Yourself?

This is usually not recommended. A lot of DIY stuff is not covered by your home insurance. Be sure to check your policies before starting the job yourself. By doing it yourself, you may be making a big renovating mistake.

It can be risky and time-consuming. It does give you flexibility and full control over the project, but doing it with contractors, designers or architects would prove beneficial in the long run. And you will still have control over the project, but with advice from experts who know what they’re doing.

  1. 4. Hire a Professional!

Ninety-five percent of homeowners cannot imagine what their furniture would like in their homes. Which is why getting advice from an expert is worth every penny. You get the right colors, the right shades along with the safest ways to complete renovations in your home.

  • Architects give the best advice for extensions in your home or any related big projects.
  • Contractors take control of the project. They give you quotes on expenses and oversee activities.
  • Designers work on the aesthetic of your place.

They work side by side to turn your dream home into reality while avoiding the possibility of making renovating mistakes.

For more detailed information, view this guide on Home renovation in Queensland.

Like this article? View more articles like this:

Would you like an updated market appraisal of your investment property? Click here to request an appraisal and one of our team members will be in touch

 

 

 

 

 

In order to ensure you are securing yourself a successful property investment, there are a few key things you can do. In this article, we’ve outlined the key aspects of a successful property investment. Getting these important tips right could be the difference between ensuring you are making lucrative investment decisions.

successful property investment tenancy application tenancy turnaround secure your home rent your house professional property manager return on investment best property managerCalibre’s Business Development Manager, Daniel Gow, tells us that “Your investment is about your long term financial future. If you don’t focus on these ten important investment decisions right from the beginning of your investment journey, then it could end up costing you an arm & a leg in the long term.”

  1. 1. Fixed Term vs Periodic Agreement

    The only difference between a fixed term and a periodic agreement is the ending of the tenancy agreement time frames. A tenant on a periodic tenancy can provide two weeks written notice at any time and vacate the property in two weeks’ time. The lessor is required to provide 2 months written notice on a periodic or fixed term tenancy. For you, as the investor, fixed term agreements are preferable so you have more control of when a tenant may be vacating and provides more time to be able to find a new prospective tenant for your property before the property is vacant. If the tenant decides to break their fixed term agreement, the tenant pays for the letting commission plus has to pay rent until the new tenant is accepted and the new lease commences.

  2. 2. Landlord Insurance

    Landlord Protection Insurance is strongly recommended by Calibre Real Estate. Whilst every action is taken to secure suitable tenants for your investment; life changes such as job loss and marriage breakdown can sometimes lead to people acting outside their usual character. To protect your investment, and for a relatively low cost that may be a tax deduction; landlord insurance is a must for today’s investor. The key things to consider whilst selecting landlord insurance is check to see if the policy includes cover for accidental damage by tenant, loss of rent an contents cover.

    Read more : How To Choose The Right Landlord Insurance For You

  3. 3. Repairs & Maintenance

    Dealing with repairs promptly is a vital component of maintaining the value of your property and achieving the best rental return. Prompt attention to legitimate repairs and maintenance can also be the difference between a disgruntled and a happy tenant. It is recommended that monies are kept aside for maintenance and general upkeep of the property. This will ensure your property is maintained in accordance with legislative obligations and sound risk management. Well maintained properties generally attract quality tenants and commonly long term tenants also.

  4. 4. Marketing for a New Tenant

    Brisbane’s high rental demand season is generally January to February, this is when agencies are usually able to put a property on the internet and have applications within a week. For more unique properties or during the “off-season” periods it is imperative to make sure that your Property Manager is doing more than just placing an internet ad. To be able to attract more tenants in the shortest time frame, your agent needs to consider not only price and presentation, but also marketing. Marketing involves making sure you have quality photos that enhance your properties attributes, accompanied by good copywriting. When there is more supply than demand you also need to consider upgrading your internet advertising listing to a feature property to maximise exposure. Prospective tenants want information instantly, they want to know when they can inspect the property and all of the properties details. This is why interactive signboards at the property are beneficial. Interactive signboards can include “SMS keywords” that allow the tenant to access information and booking times from their mobile device instantaneously.

    Read More : Insider Advice To A Quick Tenancy Turnaround

  5. 5. Water Charges

    If your investment property does not have an individual water meter, water charges cannot be passed onto to the tenant. If your property has an individual water meter and is not water efficient, the lessor must pay for a reasonable amount of water. The Property Manager can obtain quotes from licensed plumbers to arrange for the property to become water efficient. Quotes generally range from $200 to $900 depending on the
    style of toilets and fixtures. If your property has an individual water meter and is deemed water efficient, the lessor may pass on total water consumption charges to the tenant. It is strongly recommended that a plumber certificate or sufficient evidence is kept on file in the event the tenant disputes that the property is water efficient in compliance with the relevant legislation. The process for water charging will depend on which criterion above your property fits. At the start of the tenancy agreement, the lessor/agent and tenant should negotiate arrangements for water charging. The presence of water efficient devices should be noted on the Entry Condition Report (Form 1a).

    Read More : How To Charge Your Tenants For Their Water Consumption

  6. 6. Portfolio vs Task Based Management

    Task Based Management Structure means that all duties associated with a Property’s Management is split up into different divisions and managed by different people within the same organisation. Divisions usually include and are not limited to, Leasing department, Lease Signing and Document Management, Maintenance department, Routine Inspection department, Lease Renewal department etc. Portfolio Management Structure means that each Property Owner is assigned with their own dedicated Property Manager. This Property Manager is responsible for completing all of the tasks associated with managing a property. As well as reporting back to the owner on an ongoing basis. Different agencies adopt their managing structure to best suits their needs. As an investor, Portfolio based Property Management allows you to build a rapport and trust with the one Property Manager. Calibre Real Estate has adopted this approach, due to this reason.

  7. 7. Routine Inspections

    Your agency should undertake a minimum 3 routine inspections a year. An agent will use their best judgment when undertaking a visual inspection of the property. The inspection reports will highlight any obvious or reported defects or maintenance and provide commentary as to how the tenant is maintaining the property. If any action is required, your agency should request your written instruction or act according to the
    management agreement instructions. For example if there is routine maintenance to be carried out such as built in roller doors not rolling properly, kitchen hinges need replacing due to age, doors getting jammed etc., the agency should carry out the required works on your behalf and appoint a suitable contractor to attend and advise you that this has occurred. If the tenant is required to undertake certain matters such as
    cleaning or yard maintenance, this should be actioned and followed up then reported to the lessor. Your Property Manager cannot instruct the tenant on how to live as such; they can however direct the tenant to carry out certain tasks if the situation is causing damage to the property.

  8. 8. Rent Arrears Management

    Your Property manager should ensure all tenants sign a rental payment agreement form at the beginning of their lease. They also need to ensure the tenant/s understands their rental payment obligations. Should your tenant fall into arrears, under the RTRA Act, action can only be taken against a tenant when they are seven clear days behind in their rent payments. Best practice for an agency is that they contact the tenant prior to this time and advise them of the rent payment being overdue. Debbie Palmer of PPM Group states: “It is your [property manager’s] duty of care to monitor arrears and issue notices promptly every day. Failure to issue notices promptly can cause the owner financial loss if the tenant does not pay.”

    Read More : How To Choose The Best Property Management Agency Just For You

  9. 9. Adding Value

    There are things you can do to increase the value of the property while also increasing the yield. Whether you are targeting a niche market or are throwing in a few extras, there are many creative ways landlords can boost their rental yields. Bonus trimmings such as a car space, dishwasher or air-conditioning can often be a make or break for potential tenants. Although there is a cost to implement these additions, you are able to charge a up to $95 more each week. This could add up to almost $5000 a year in extra rental yield. Presentation can also be an efficient way to achieve the best possible price. Adding value to a property can be as simple as replacing blinds/curtains, new carpet, paint touch up or even spending a little time tiding up the yard.

    Read More : 8 Value Adding Improvements to Secure Better Rent Return

  10. 10. Property Tax Depreciation

    “As a building gets older and items within in deteriorate they depreciate in value. The ATO allows property investors to claim deductions relating to the wear & tear on the building, fixtures and fittings. Such deductions can be claimed by any owner of an income producing property; including residential properties. In short, depreciation reduces the amount of tax investors pay. Each property will depreciate at a unique rate depending on its age, use and construction cost. Maximising a depreciation claim on any building requires a distinctive combination of construction costing skills and experience.

    Read More : 5 Things You Need To Know About Claiming Tax Depreciation on Your Property

Special thanks to Daniel Gow for sharing his expert knowledge.
0411 582 871
daniel.gow@calibrerealestate.com.au

For other articles that will assist your property investment see :

Learn more about how Calibre Real Estate’s Property Management team can help you achieve maximum return your on investment

If you have a property in South East QLD that you would like to discuss with one of the team members at Calibre, then please feel free to call our office at (07) 3367 3411 or lodge an enquiry on the “Property Management” page on our website.

When lodging a tenancy application, there are a few key things you can do to arm yourself with the best possible chance of being successful. Trying to find a new home to rent can be exhausting. Particularly if you know there’s big competition on the one property you have desperately fallen in love with!

tenancy application tenancy turnaround secure your home rent your house professional property manager return on investment best property managerWell Daniel Gow, our Property Management expert, imparts with us his top tips to help you ensure your tenancy application is the chosen one.

“The most important thing is to be truthful” says Dan. “I had one applicant the other day who was 33 years old. On his application, he said that he was moving out of home for the very first time. We always conduct background checks on all of our applicants. When we did a background check on him, we discovered that he in fact once owned his own home and didn’t divulge this information. We later discovered there were reasons why he didn’t initially disclose this information and we worked together with the applicant to process his submission. But if the applicant had been upfront and honest right from the get-go, it would have saved a lot of heart ache in the interim.

“If you believe that there might be something that could affect your application in a negative way, just be honest about it. Everybody has a past, by ensuring full disclosure you’re being proactive rather than reactive. In order for us to present your application to the landlord in the best possible light, the more honest and wholesome information you give, the better it is. Life happens and sometimes a rental reference may come back negatively. But truthful understanding is received by landlords far better than uncertain skepticism”

7 Tips to Lodge the Winning Tenancy Application

  1. 1. Dot Your I’s and Cross Your T’s

    Ensure all of your paperwork is thorough and completed properly. If your application hasn’t been completed properly or is missing information, then this will delay the process and could mean your application misses out altogether.

  2. 2. Supporting Documentation

    These requirements can vary agency to agency. Ensure that the documentation you are supplying meets the agency’s guidelines & requirements.

  3. 3. References

    Ensure your references are reputable with valid contact details. Ideally don’t put a family member down as a reference. Agencies & Landlords don’t want to see references from your mum, of course she’s going to give you a glowing reference!! Instead, perhaps consider your employer or a teacher. But always remember to ask them firstly, before putting them down as your reference!

  4. 4. Ensure all contact details are correct and legible

    In order to conduct reference and background checks, the agency will need to make some phone calls and send emails. If they need to follow you up for this info then it will delay the application process even further.

  5. 5. Be on time to every appointment

    We all lead busy lives. If for whatever reason you can’t make an appointment on time, besure to call your contact person to let them know you’re going to be delayed. Punctuality will show the agency that you are a reliable candidate.

  6. 6. All occupants over the age of 18 years must submit an application

    Anyone residing in the property who is over the age of 18 MUST submit their own application regardless of who is paying the rent.

  7. 7. Online Applications

    If the agency has the facility to do so, consider lodging your application through sites such as 1 Form  wherever possible. The beauty with sites such as 1 Form is that you, the tenant, can literally fill out your tenancy application details once. You can then use those details to apply for as many tenancy applications as you need thereafter.

Special thanks to Daniel Gow for sharing his expert knowledge.
0411 582 871
daniel.gow@calibrerealestate.com.au

To access more articles about renting & properties see :

If you have a property in South East QLD that you would like to discuss with one of the team members at Calibre, then please feel free to call our office at (07) 3367 3411 or lodge an enquiry on the “Property Management” page on our website.

 

There are a multitude of reasons whereby a tenant or a landlord might need to terminate a tenancy agreement. In Queensland in particular, the Residential Tenancies and Rooming Accommodation Act (RTRA Act) have ensured there are fair and reasonable measures in place to ensure the best possible outcome for both parties.

professional property manager return on investment best property manager terminate a tenancy agreement“Sometimes in the real estate industry there might be times where the lessor or the tenant might not be able to fulfill their part of the lease.” Daniel Gow, one of Calibre’s top Business Development Managers, reassures us… “If you’ve engaged in a good property manager to manage the tenancy then you can be assured that they will follow the correct procedures in order to ensure that both parties are well satisfied.”

In Queensland, under the Residential Tenancies and Rooming Accommodation Act (RTRA Act), there are eight ways to terminate a tenancy agreement.

The eight ways to terminate a tenancy agreement are :

  1. 1. When a fixed term has ended or during a periodic agreement and correct notice has been given.

    The person ending the agreement must use the correct form and comply with the appropriate notice period. A Form 13 is a Notice of intention to leave from the tenant lawfully.

  2. 2. When both parties mutually agree, in writing, to end a fixed term agreement early

    This would be a negotiation by both parties to allow the tenant to end the tenancy early with or without penalties that are agreed upon.

  3. 3. Ending an Agreement Early – Breaking a Lease

    If a tenant or property manager/owner ends a fixed term agreement before the end date without grounds (i.e. without sufficient reason) they are breaking the agreement. This is also known as breaking the lease. A tenancy agreement is a legally binding agreement. If it is broken, compensation will probably need to be paid.

  4. 4. Excessive Hardship

    If the property owner or tenant believes they would suffer excessive hardship if the tenancy agreement was not terminated, they can make an urgent application to QCAT to end the tenancy. For example, if a tenant has lost his job and is unable to pay the rent, a tenant is forced to relocate for work, tenant or property owner is suffering severe physical or mental illness and cannot continue with the tenancy.

  5. 5. Abandonment

    If a property manager/owner believes that a property has been abandoned, they can issue an Entry notice (Form 9) allowing 24 hours notice (in rooming accommodation no notice is required). The property may then be inspected to confirm it has been abandoned.

  6. 6. Death of a sole tenant

    When a sole tenant dies the tenancy ends 2 weeks after written notice is given due to the tenant’s death or the day agreed by the property manager/owner and the tenant’s representative or relative.

  7. 7. Property is for sale

    If the tenant is on a fixed term agreement, the property manager/owner cannot make them leave because they decide to sell. The tenant can stay until the end of their fixed term, and the new owner will become their property owner. Sometimes a property manager/owner will negotiate with a tenant to end the agreement early and offer some form of compensation.
    If the tenant is on a periodic agreement, and the purchaser does not want to continue renting the property (i.e. they want vacant possession of the property), the property manager/owner must give the tenant a Notice to leave (Form 12) or Notice to leave (Form R12) for rooming accommodation, that must allow at least 4 weeks’ notice after the contract of sale is signed.

  8. 8. Mortgagee in possession

    If the property owner fails to make loan repayments on their rental property and defaults on the mortgage, the lender (mortgagee), usually a financial institution, may take possession of the property.  The Notice to vacate from mortgagee to tenants informs the tenant that the mortgagee (or appointed person) will be taking possession of the property. This notice must be signed by the mortgagee (or appointed person) and given to the tenant at least 2 months before they must move out.

Thanks to Daniel Gow for sharing his expert knowledge.
0411 582 871
daniel.gow@calibrerealestate.com.au

We hope you found this article about how to terminate a tenancy agreement helpful. For other articles that will assist your property investment see :

 

Learn more about how Calibre Real Estate’s Property Management team can help you achieve maximum return your on investment

Would you like an updated market appraisal of your investment property? Click here to request an appraisal and one of our team members will be in touch

When you go to rent your house, its success will rely heavily on your rental strategy. If you have a property you are considering leasing out, understanding & implementing the right rental process is vital. With a fool-proof strategy, you should have your property leased in no time.

Helping us uncover the key to a stress-free leasing process is Calibre’s Business Development Manager Daniel Gow . Daniel has come on board to impart his knowledge & wisdom to help you rent your house. “I feel sad for property investors when I see their properties sit untenanted for months on end. With the right property management agency and a great strategy, as an investor, you should be confident that you’ll be able to rent your house free from stress and worry” says Daniel.

Daniel’s 6 Step Guide To Rent Your House

  1. 1.Do Your Market Research

    Your agent will provide relevant comparables of houses that are currently available within a 2km radius of your house. They will also provide a list of rented properties and discuss the features that the market are paying for based on the leased prices. You will also have a discussion around the demographics of the area and decide on a price with consideration of what type of tenant/age group you would like to reside at your home.

  2. 2.Prepare Your Property For Your Target Market

    Now that your market research has told you who your target tenant market is, it’s important to ensure your property appeals to them. Touch up peeling paint, oil deck, mow/hedge and undertaking cosmetic improvements to the property will help to attract the tenant you are aiming to secure. The cleaner and better presented the property is, the higher quality tenant you will attract.

  3. 3.Research & Choose Property Manager

    Short list the agents that have great google reviews and make an appointment with them to meet you at the house. Choose an agent who is enthusiastic in providing an excellent level of service and go the extra mile. Once you have chosen your agent, book in your photo-shoot and list your house!

  4. 4.Decide on Price & Marketing Strategy

    You may want to start above the market price to see how the market responds and then reduce your price. However, to secure a tenant in the quickest possible time-frame, advertise your property at market price. This will reduce your time on market and therefore increase your bottom line. Your agent will go through the marketing strategy to rent your house.

  5. 5.Choose the Right Tenant/s

    Ensure your agent utilises tenancy databases such as TICA and Equifax. They conduct checks as well as ensuring thorough rental and income screening processes. A good property manager will conduct a thorough screening process of all potential new tenants.

  6. 6.Ongoing Communication & Inspections from Your Property Manager

    Your property management team should provide a report after each inspection. The report should detail such things as who inspected the property, their feedback in terms of price and the condition of the house. Once a tenant is secured, ongoing communication between the agent and landlord is paramount. This will include such issues as maintenance items, tenancy requests and any other matters. The routine inspection reports should be completely regularly and a report with photos provided to you.

Thanks to Daniel Gow for sharing his expert knowledge.
0411 582 871
daniel.gow@calibrerealestate.com.au

For other articles that will assist your property investment see :

 

Learn more about how Calibre Real Estate’s Property Management team can help you achieve maximum return your on investment

Would you like an updated market appraisal of your investment property? Click here to request an appraisal and one of our team members will be in touch

 

Rent your house

Changing property managers doesn’t need to be painful. While it may be a lot easier to just throw it all in the ‘too-hard’ basket, making the switch really can give you peace of mind and save you a lot of money.

If you’re thinking of changing property managers, then it’s safe to assume that you are not happy with your current provider. If you went out for dinner and ate the worst meal of your life, you’d never go back to that restaurant again, would you? Or if you paid for your car to be cleaned at a professional car cleaning place and they left a great big dirty smudge mark all over your windscreen, you wouldn’t go back there either, would you? The same should be thought about property managers. You are engaging a business to perform a service for you. If you are unhappy with the level of service they are providing then it’s time to grab the bull by its horns and start shopping elsewhere.

One of Calibre’s New Business Specialist, Daniel Gow has come on board to help get your ducks in a row. Dan and his team enlist dozens of new property managements on a regular basis. They are passionate about ensuring their landlords are well looked after. Unfortunately however, for the real estate industry, there are a few ‘bad-egg’ property managers out there who are not servicing their landlords as well as they should be. That’s why Dan has shared with us his Top 5 Tips for painlessly changing property managers. By following his straightforward guide, you’ll be able to return to enjoying the rewards of a stress-free investment in no time.

Dan’s Top 5 Tips for Painlessly Changing Property Managers

  1. 1. What Don’t You Like About Your Current Property Manager?

    It’s important to really understand what it is about your current management company that is not suiting you. Whether it be their lack of communication, inaccuracy or bad attention to detail. Dan has prepared a few questions you should ask yourself about your current property manager. These are all standard expectations of good property managers. If you answer no to any of the below questions, then shopping elsewhere is definitely warranted.

 

  • Are you, as the landlord, responded to promptly & efficiently without having to constantly follow up from emails and phone calls?
  • Does rent come into your account reliably and consistently every month?
  • Are you offered fortnightly or monthly dispersal’s?
  • Are you provided with 4 routine inspections per year?
  • When your tenants vacate, are you confident that your property management are doing everything they can to efficiently have the property re-tenanted in quick turnaround time?
  • Are potential new tenants being properly screened for credit history and prior tenancies?
  • Are repairs attended to promptly by registered tradespeople who provide a high standard of workmanship, a warranty and insurance?
  • Is there a sophisticated tenant booking system in place?
  • Are the fees you are charged in accordance to your initial agreement without any nasty surprises?
    With this information you can then have a list of questions to ask your new agency when interviewing them.
  1. 2. Be Armed And Ready

    Have a copy of your Appointment of Agency form on hand so you know when you can terminate with your current agency. A Reappointment of an Agent Form  (Form 6)  will enable you to end the agreement after 30 days written notice. However, if your agreement was under the older PAMD Form 20a then you may need to wait 90 days to change. You can terminate a lot sooner if both parties agree to the termination.

  2. 3. Select Your New Agency.

    Best place to start is to ask your friends for any recommendations. Also, check their Google reviews. You can then book an interview with the Business Development Manager at each company that you like the look of.
    Expect to receive, as minimum :
    a. Company Prospectus
    b. A rental Comparative Market Analysis (CMA) to give you an indication of what is happening around your investment.
    c. Marketing suggestions for your investment
    d. An opinion of the rental value of your property, based on evidence and local knowledge
    e. The ability to show value for the Commission they are charging. Value for money is different to being cheap. Cheap equals cutting corners to make a profit!

For help on choosing the right property manager for you, click here.

  1. 4. So, you’ve made a choice. Now what?

    This is where a great agency can be invaluable. Saving you time and offering you a stress free service! All of the necessary paperwork can be prepared and once signed your agency should contact the previous agency to book in a date for a smooth transition over to their agency.

    Will I have to contact my current agent?
    It is not necessary for you to contact your current agent. You new agency will handle the whole process for you. They’ll ensure all the necessary documentation is completed and your tenants are notified of the change.

 

  1. 5. Is that it?

    Yep! Your property will be taken over on the due day, tenants will pay directly to the new agency and you are notified that all has gone ahead smoothly!

 

  1. Dan’s Extra Tip

    Your new senior property manager should arrange their own inspection of the property and prepare a report for you. At this stage, it is great to ensure that your manager looks to check for any issues that could cause a future risk. You can then plan to attend to any potential over time and alleviate the need to pay for emergency call outs e.g. a plumbing health check can be booked.

 

 

Now that you’ve made the switch, you can put your feet up and relax. You’ve done the hard yards, now you can finally have comfort in the knowledge that your investment is in safe hands. There’s now a great agency working to ensure your investment is well cared for.

 

Quote provided by one of Calibre Real Estate’s Business Development Manager –
Daniel Gow
0411 582 871
daniel.gow@calibrerealestate.com.au

 

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If you have a property in Brisbane that you would like to consider engaging in a new property management team for, please feel free to contact the friendly team at Calibre Real Estate (07) 3367 3411  or lodge an enquiry on the “Property Management” page on our website . Otherwise, we hope you have enjoyed this insider advice to a quick tenancy turnaround.

 

changing property managers

property management tips calculate rental yield tenant target market quick tenancy turnaround landlord insurance Property Management TipsWhen it comes to managing your property, there are a few property management tips that could make or break your real estate investment. It’s important to dot your i’s and cross your t’s, otherwise you could find that yourself tied down to a costly investment. So, to help ensure you get as much return from your investment as humanly possible, we’ve called in our Property Management expert, Calibre’s Business Development Manager, Daniel Gow. Dan has been in the property management industry for a number of years now. He is a wealth of information on a things real estate. For this article, Dan has kindly prepared his top property management tips for any current or budding property investor.

Top 8 Property Management Tips To Stress-less About Your Investment :

  1. 1.As The Landlord, You Have Final Say When Choosing A Tenant

    A good property manager will conduct a thorough screening process of all potential new tenants. This includes their employment history, current earnings, references, background checks and financial security. Tenancy databases such as TICA and Equifax are available to assist in conducting these checks.

  2. 2.Know How To Efficiently Manage Your Investment’s Cashflow

    Capitalising on the return on investment for your property is essential. This can be achieved by maximising your rent return wherever possible. You can expect to receive better rental return by ensuring your investment is well maintained and well presented.

  3. 3.Ensure You Have Rainy Day Reserves

    ***One of our most important property management tips*** Put aside “emergency money” for your investment. Before renting the property out, discuss a maintenance plan with your property manager to ensure the house is well kept throughout the duration of the tenancy. This will assist you to manage your finances wisely  and hopefully avoid any nasty surprises. By putting aside some ‘rainy day reserves’, you are being proactive rather than re-active. Lucy recommends you put aside a minimum of two weeks rent to help cover this.

  4. 4.Have a Solid Understanding of Your Local Laws

    The Residential Tenancies Authority is Queensland’s statutory authority that helps make renting work for everyone. They provide tenancy information and support, bond management, dispute resolution, investigation, and policy and education services. The RTA are on hand to assist both the tenants and landlords alike. Following the RTA’s regulations will help to ensure both a happy owner and happy tenant.

  5. 5.Always be Prepared for End of Lease & Re-Leasing.

    Better preparation more often than not equals shorter vacancy periods. By beginning the lease renewal process at least 3 months prior to the tenant vacating helps to ensure the property is released in the shortest possible time frame.

  6. 6.Have An Eviction Plan :  Know both the landlords’ & tenants rights

    It’s important to understand the legislation and ensure your landlord insurance covers the eviction process as it can be quite costly. For more information about how to choose the right landlord insurance for you, click here.

  7. 7.Streamline Your Accounting, Finances & Paperwork

    There’s an easy way to take alot of the stress and worry out of having an investment. You can choose a management that pays all invoices and rates on your behalf. This allows for easy reconciliation at tax time. You should then receive a detailed end of financial year statement outlining income, expenses, GST on expenses and balance. Find out  how you can claim tax depreciation on your property here.

  8. 8.Strategise Your Property Management Plan

    Choosing the wrong agency to manage your investment property could end in disaster. High rental arrears, poorly managed property maintenance and prolonged vacancy rates will drastically hurt your bottom dollar. Lucy recommends that you short list a few property management companies in your area and book meetings with each one. You’ll then need to weigh up the pros and cons of each company. For assistance with choosing the right property manager for you, check out this article.

     

Quotes provided by Daniel Gow
0411 582 871

daniel.gow@calibrerealestate.com.au

 

 

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