Property investment is one of the most powerful vehicle to building wealth and prosperity. However, choosing the right agency to manage your property may be a difficult task for you as a landlord.
At Grandstand, we understand that property management is much more than just collecting rent or striking a deal on fees. Property management challenges such as tenant selection, rent arrears, routine inspections, maintenance policies are vital in ensuring a smooth tenancy process – and Grandstand is here to help taking care of all these aspects.
Through us, you would benefit via exposure, knowledge, expertise and exceptional customer service provided with dedication and integrity. Grandstand takes into account your goals and objectives – to find a reliable tenant, to maintain your property, to provide regular feedback and overall to ensure a smooth rental process.
Grandstand Comprehensive Services
We offer a comprehensive range of services:
1. Setting the rent
Our goal is to provide the best outcome for you by ensuring the highest possible rental income is received, but at the same time securing your desired tenants. To achieve this, we have to reach out to potential tenants effectively through strategic pricing of your property. We will make an appraisal to find the most suitable rental pricing which will be determined by the supply and demand of the current rental market at your area, advertised prices of similar properties in your area and how long these have remained available, statistical data, condition of your property, and local market trends.
2. Marketing your property
After a suitable rental pricing is agreed upon, we will advertise your property through professional photography, ‘For Lease’ signboard, website listings, social media etc. Open and private inspections to prospective tenants will be conducted until your property is leased. We will update the details of every inspection and constantly provide feedback to you as we believe effective communication is vital in ensuring a smooth tenancy process.
3. Tenant Selection
At Grandstand we take the tenant selection and application process seriously. We employ a thorough screening process and conduct checks on tenants applying for your property as required by law. Applicants must complete our detailed tenancy application form which outlines their past and present tenancy details, employment details, emergency contacts and reference persons to be contacted. We will conduct referral checks on the applicant by calling their business and personal references to ensure their suitability. We will also conduct checks with applicants’ previous property agent to confirm the applicant’s rental history. All potentially suitable applications will be referred to you and a tenant will be selected after consultation with you and upon your approval.
4. Tenancy agreement, bond and initial inspection
Once the right tenant is found, we will proceed with the preparation of all relevant documentations as required by law.
- We will execute the Residential Tenancy Agreement along with any extra negotiated terms agreed upon;
- We will advise the tenants of their rights and obligations under the Residential Tenancy Act.
- We will collect and lodge the bond with Residential Tenancies Bond Authority.
- We will collect the first monthly rental payment in advance from the tenant.
- We will forward copies of relevant documentations to you.
- We will carry out an initial inspection before the lease is signed and a condition report detailing the full condition of the property will be prepared.
5. Rent collection and rent arrears
- We will deposit the net proceeds of your rental income into your nominated bank account.
- We will carry out rental arrears checks and immediately follow up on any outstanding money owing. We have a zero tolerance policy on rent arrears. If tenants fail to pay their rent promptly, tenants will be contacted by our team on a regular basis and are also sent reminders and warning letters.
- We will provide a monthly rental statement and an End of Financial Year Statement of all income and expenditures.
It’s our policy to conduct routine inspections on every rental property twice a year. Routine inspections are held to check on the condition of the property and observe if any maintenance or repairs are required. The first routine inspection will be conducted on the 3rd month of the lease and the second will be conducted on the 9th month. We will inform you prior to the routine inspections and you are welcome to join us in attending the routine inspections. A routine inspection report will be generated outlining the condition of the property, maintenance issues, and attachments of coloured photos of your property.
7. Repairs & Maintenance
We understand that maintaining your property is crucial in retaining and attracting quality tenants. Hence, we will attend to all maintenance and repairs as quickly as reported as per the management agreement. We have a network of qualified and reliable tradespeople with quality workmanship available for repairs. Alternatively, we will utilise the tradespeople of your preference.
8. End of tenancy (Finding New Tenant)
We will review the tenancy agreement 90 days prior to its expiration and seek the tenants’ intention on the continuation/ renewal of the lease. We will advise you if the tenant do not wish to renew their lease at the earliest possible opportunity. Upon your instructions, we will proceed with re-letting and advertising activities to find a new tenant. If the tenants are happy to continue with the lease, we will review the rent and advice you on any rental increase prior to the lease expiration.
Switch to Grandstand Property Management
Thinking of switching your property management agency? We believe that you deserve the best services from your property manager and here, we strive to provide the best quality of property management services to our clients.
The process of switching to Grandstand Property Management is simple and easy. According to Consumer Affairs Victoria, you can terminate your estate agent’s management of your rental property any time by giving a written notice.
Grandstand Leasing Team will guide you throughout the entire transfer process FREE of charge (excepting fees in your existing contract). Everything from informing your existing agent, organising paperworks, notifying your tenants will be done efficiently and professionally. All we need is your authority and we will handle the rest from there.
Contact us today for a hassle-free property management and a smooth transfer process.