8 months ago


Inner Urban Management Services Like any other business activity, a rental investment property has a risk factor that is minimised by a professional approach to renting and management. That risk factor can be reduced through skilled property management — managers whose training, appreciation of the law, experience, professionalism, commitment to procedures such as letting processes, maintenance and inspections, together with accounting procedures, are worth extra dollars to the property owner. At Inner Urban Real Estate we have a continuous and direct involvement in looking after your investment. SELECTING PROSPECTIVE TENANTS Our extensive advertising and referral facilities quickly locate applicants. All applications are thoroughly and carefully checked before presenting the information to you, to ensure a quality tenant. BOND Where permitted by legislation, we obtain a minimum bond equal to five or six weeks rent. All bonds are required to be lodged with the Residential Tenancies Bond Authority. CONDITION REPORT A detailed inspection is conducted and a Condition Report prepared, prior to the commencement of the tenancy. The Condition Report, together with photos, clearly states the condition of the premises at the commencement of the tenancy. Should any unreasonable discrepancy exist at the end of the tenancy, then the tenant may be liable. LEASE AGREEMENTS Leases are prepared in accordance with legislation, and tailored clauses are included to cover any uncommon situations (pool or garden maintenance, etc.). In the event a tenant wishes to vacate early (break the lease), the tenant is responsible for fees and charges incurred, including a pro-rata portion of the leasing fee. ROUTINE INSPECTIONS It is important to ensure your property is being maintained in good order by the tenant. Regular routine inspections are conducted each six months (cannot be less by legislation) and the first inspection is scheduled three months after the commencement of the tenancy. A detailed report is sent to you, highlighting any maintenance requirements. RENT • Rent payments are required to be made one month in advance. • Payments are monitored on a daily basis and contact made with the tenant by SMS, phone, email/letter if payments become overdue. • In the event rent becomes 14 days in arrears, a Notice to Vacate will be issued, followed by an application to VCAT to seek possession. You will of course be consulted and kept informed in these circumstances. STATEMENTS Statements are produced the same business day that the rent is paid therefore if the rent is paid early the funds are paid to your early. Funds are deposited directly into your bank account (cleared funds overnight) and the statement sent by either mail or email. EXPENSES Payment of rates, insurance, maintenance invoices etc. can be paid from rental proceeds at your request. An end-of-year financial report can be produced showing all income and expenditure. Inner Urban Real Estate