navigation

Residential Rentals Introduction

(Combined Management Services) CMS Realty Pty Ltd

Property management has become a specialized field with vast legal implication. The Residential Tenancies Act has complex rules and regulations relating to property management. It places immense responsibility on whoever manages the rental property to comply with these guidelines. Failure to do so can attract harsh penalties to either the owner (you) or the owner’s nominated managing agent (us). Agents involved in property management (and owners who manage their own properties) must possess a thorough working knowledge and understanding of this Act, as well as other Acts of Parliament.

At CMS Realty Glebe / Inner West our staff are always thoroughly informed and fully trained in all aspects of the relevant legislation to provide peace of mind to you the owner, Giving you our assurance that we will be acting in your best interests - legally, ethically and financially, at all times.

Promoting your property to prospective tenants

Advertising is the most effective way of attracting prospective tenants. CMS - Glebe, Inner West Residential & Commercial Sydney will advertise your property in the Sydney Morning Herald, and all internet sites, cmsrw.com.au, www.domian.com.au and www.realestate.com.au and others. We will also place ‘FOR LEASE” signboards up where appropriate and carry out open house inspections. Finding the best tenant for your valuable investment property is supervised by our property managers. At CMS Real Estate our job is to secure the best possible tenant for your investment property. When qualifying prospective tenants we are guided by three key points:

  1. Stability of employment
  2. A proven rental history
  3. Satisfaction that a tenant is capable of paying the required rental

All enquiries either from the internet or the newspaper advertising are directed towards the appropriate property manager and they are contactable on their mobiles seven days a week. Our prominent position enables prospective tenants to view the property during working hours, which means that tenants come to us first and our clients have the best choice of tenants.

Selecting the right tenant

At CMS Real Estate we will not compromise our reputation of providing our clients with the most suitable tenants to lease their properties. Our philosophy is to always be critically selective with tenants because our aim is for you to have a worry free tenancy. Our detailed screening process aims to establish that tenants can meet the responsibilities of the General Tenancy Agreement.

Tenant selection is in accordance with laws covering discrimination, residential tenancies and privacy. We keep you informed of applications, so you can take part in the selection and decision process.

As a subscriber to the National Tenancy Database we have access to the most up to date information on prospective tenant’s previous rental records. The database has proven invaluable in cases where a tenant has chosen not to include the correct information on their application. This is just another service we provide to protect your property and give you a worry free tenancy.

Landlord Protection Policy

Whilst we make every effort to ensure that the tenant we have selected is going to be the right tenant, unforeseen circumstances can change the ability of a person to pay rent or cause them to act in a way that is totally out of character.

At CMS Real Estate we understand that insuring properties you own but don’t live in can be a complicated process. That’s why, in conjunction with renown insurers we can offer comprehensive ‘Landlord Protection Policy’ tailored to protect the owners of investments properties. This policy is especially designed to alleviate any concerns you may have regarding financial loss as a result of a tenant’s actions. The Landlord Protection Policy offers a range of benefits and features in addition to those found on standard policies, all at a competitive price. The question is can you afford not to have it? For more information on this policy or other policies available in the market place, please refer to your CMS Property Manager.

Our service to you

At CMS Real Estate

Regular inspections are a major part of how we care for your investment property, ensuring that you achieve continual occupancy and maximum return. To achieve this, the property must be presented and maintained in the best possible manner. Prior to each tenant’s occupancy, a condition report is prepared that thoroughly details all aspects of the property, including an inventory if applicable.

Routine inspections of your property are made regularly depending on your needs and legislative requirements. Following each routine inspection, you will receive a comprehensive report on the overall condition of the property. The purpose of the inspections are two-fold, firstly to bring to your attention any immediate maintenance needs and secondly, to inform you of any preventative maintenance or refurbishment that may be beneficial.

Owners can then forecast and budget accordingly, for any upgrading work suggested in the report. Neglect of minor repairs can often lead to major expenditure and the loss of a good tenant. Our attention to maintenance will ensure that problems are resolved quickly, by qualified trades people and at a reasonable price with a limit determined by you. When tenants vacate the property we carry out a final inspection ensuring that they leave it in an acceptable condition. Bonds will not be released until all parties are satisfied.

Payments and Tenants

Each month, CMS Real Estate forward you an itemised statement showing all rental income and payments made on your behalf. Monthly statements will have copies of invoices attached. Council rates, body corporate levies and landlord protection insurance premiums are just some of the accounts that can be paid on your behalf from received rental monies.

We also encourage and educate the tenants to pay the full rental amount when due, to ensure that your investment is working for you. However, should tenants fall into arrears, we know about it the same day, because of our daily arrears management routine. Prompt action follows in accordance with the Residential Tenancies Act, with the property managers keeping you informed throughout the process.

Rent Reviews

CMS Real Estate property managers constantly monitor the rental pricing market and review the rental prior to the expiration or renewal of each Tenancy Agreement. This allows us to apply increases in line with the current market ensuring that the yield from your property does not lag behind its potential. We want to ensure that you achieve the highest return possible on your property investment. Our staff will contact you on these occasions to present the options available and make a recommendation that is best for you and your property.

Service guarantee

CMS Real Estate is different from other agencies – we don’t give you empty promises, most likely forgotten after the first three months. We give you a Service Guarantee in writing once the management agreement is effective, so we are all aware of the level of expectations. We then survey both our landlord clients and our tenants, to continually improve our service. Our aim is to provide you with total peace of mind and we’re prepared to back it up with the enclosed written guarantee.

Management fees

At CMS Real Estate fees for the management and letting of residential properties reflect the quality and level of service we offer. It is important to note that our fees are in accordance with the Schedule of Fees set out by our Industry’s Legislative Body. Our fees are based on the number and type of property management services you need us to provide and what we can do for you personally. Every property is different and we tailor a management package specifically to suit your requirements. We look forward to having the opportunity to discuss your personal needs and the range of our services. Our fees are fully tax deductible.

And Remember - "Service Doesn't Cost it Pays"

In conclusion

At CMS Real Estate your financial well being is our highest priority in the management of your real estate investment.

The above information is intended to give you sufficient information to emphasis the importance of having your property comprehensively managed on a full time basis by qualified, competent staff.

Our close-knit team works in harmony, to ensure the needs of all those we come into contact with are fully met and exceeded. Individually and collectively, this is a specialized team focused totally on ensuring that your investment is working for you.

footer