Please find below instructions to complete the required paperwork to manage your investment property however, do not hesitate to contact us at any stage.
Required Management Forms
Form 6 – Appointment of a Property Agent
It is important that this form is fully completed and signed. Please take particular note of the following information which is required:
- Page 1: Part 1 – Client Details. Please fill out your preferred contact details
- Page 4: Part 9 – Signatures. Please sign and date under your name
- Property Management Schedule Annexure – please initial the bottom of every page
- Page 5: Part D: Your Bank Account details – These are put into our system so that payments can be made to you on time and with ease. We assure you we keep this information strictly confidential at all times.
- Page 5: Part D: Frequency of Payments and statements – Please confirm whether you would like to receive your payments twice monthly or monthly and if you would like to receive your statements via email or post.
- Page 6: Part G: Disbursements – Please indicate whether you would like to have all or specific outgoings directed to our office to be paid from your rental monies on your behalf. We also offer a Debt Collection Service and Smoke Alarm Management Service. Please see further details at the end of this letter in relation to these services. We can easily organise this for you and if you property is water efficient, it allows us to invoice the tenants quicker for reimbursement.
- Page 6: Part H: Water Charges – Please complete the applicable section as to how you would like to pass on any or all of the water consumption charges for the Property.
- Page 7: Part I: Emergency Repairs Contractors: Our Agency appoints licensed and qualified contractors, should you have your own contractors you would like us to engage on your behalf, please specify here.
- Page 8: Part K: Approval for Pets – Please complete whether you will allow Pets at the Property. Please also specify any conditions you would like placed in the Tenancy Agreement regarding these – ie. Dogs only to be kept outside.
- Page 8: Part M: Number of Approved Occupants to Reside at the property – Please indicate how many occupants to reside at the Property
- Page 8: Part O: Insurance – We are required, by law, to keep details of the Insurances held for the Property.
- Building and Public Liability – As the Property Owner / Lessor, it is mandatory that you comply with Clause 4.15 of the Essential Terms and Conditions and obtain and maintain an insurance policy for Building and Public Liability providing cover to a minimum of $10 million. We also ask that you provide us with a copy of your Certificate of Currency to be kept on our file.
- Contents and Lessor (Landlord) Insurance – these are all optional and we can provide you with further information regarding policies available should you be interested. If you already hold such covers, please include the details which we will keep on our file.
- Page 9: Part P: Body Corporate – Please complete the Body Corporate details if the property is a unit / apartment and subject to Body Corporate rules and regulations.
- Page 9: Part Q: Lessor’s Emergency Contact – Please include contact details of the person you would like us to contact in the case of an emergency involving the Property.
- Page 9: Part S: Signatures – Please sign and date
- Page 13: Pool Safety Annexure – even if your property does not have a pool, you are still required to sign the bottom of this form. Question 3 states whether or not you give permission for a tenant to erect a blow up pool, we have this crossed NO, if you allow this, you are then responsible for fencing around their structure. If you sign No, you are giving us permission to send them a Notice to Remedy Breach for breaching the terms of the contract.
Proof of identity and Authority for either party to sign
We have included both of these forms to our sign up procedure as there has been several cases of fraud, and to protect your investment and funds, we have introduced these safeguards.
Landlord Disclosure Statement
We have prepared this form to ensure we have comprehensive knowledge of the history of the property to ensure we are always acting in your best interest and can assess risk management strategies.
We require a minimum 4 full sets of keys for each property. Please tape down each key on the appropriate square, please use the extra squares where required.
Preferred Risk Management Companies
Smoke Alarm Compliance – A Fact Sheet for Landlords
As you are aware, as the Property Owner you have a responsibility to ensure that all smoke alarms in your property are checked and serviced within 30 days before every lease changeover, lease renewal or every 12 months (whichever occurs sooner). By using a specialist service provider you transfer the compliance risk to them and you can be assured that your property meets all smoke alarm regulations and compliance issues.
Our Agency recommends Hot Spots to carry out maintenance on our clients smoke alarms at their rental properties. They currently charge $79 inc GST per annum for a very inclusive service. Hotspots offer 3 levels of service (full brochure attached):
- $79 – smoke alarm testing including replacement alarms
- $129 – smoke alarm testing including replacement alarms & blind and safety switch compliance
- $249 – smoke alarm testing including replacement alarms & blind and safety switch compliance & annual air con servicing of up to 2 AC units
If your property has corded blinds/curtains, we recommend proceeding with option 2 as this provides full compliance of Smoke Alarms, Safety Switch & Corded Curtains and Blinds. Please notify us of your preference, otherwise your property will be automatically enrolled into the $79 Hot Spots maintenance program.
Please review these brochures from two landlord insurance policies that our clients prefer. If you currently have a landlord insurance policy in place, we urge you to compare the two above with your current policy. In our experience, the areas to compare are cover by accidental damage and the number of weeks of loss of rent. A lot of assessors are classifying tenant damage as accidental damage, allowing a lot of other insurers to not pay out.
Barclays MIS Protect and Collect – a cost effective debt collection service
Please find enclosed a brochure regarding the services with Barclays provide in relation to debt recovery from tenants. It is definitely worth the read and consideration. Although we have a very thorough and highly effective tenant screening process, cover of this nature is often worth the small fee required. If you wish to take advantage of this added security for your investment, please let me know and I can take care of it for you. You receive up to the 31st December of this year complementary, as part of being a Calibre client. The fee ongoing is $66 per year.
BMT – Tax Depreciation
Effective planning and preparation is critical for all property investors to ensure they are getting the most out of their tax returns.
In order to claim depreciation and capital works deductions property investors generally need to enlist a specialist Quantity Surveyor to complete a comprehensive capital allowances and tax depreciation report or schedule. When completed, a tax depreciation schedule outlines the deductions available for both capital works and plant and equipment items on an income producing property and is used each financial year when preparing tax returns.
If you’d like more information about how you can take advantage of tax depreciation check out our post 5 Things You Need to Know About Claiming Tax Depreciation on Your Property or get in touch with BMT on 1300 728 726 or visiting their website bmtqs.com.au
Please feel free to contact us for clarification or for more information.