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OWNERS TIPS

OUR PROPERTY MANAGEMENT SERVICE

CMS Real Estate specialise in letting all types of property, from apartments and suburban houses to residential blocks. Our success is achieved by putting the needs and requirements of our landlords and tenants before anything else. We are not a real estate agency with a letting business 'on the side', so we remain totally focused on offering the best property management service at the most competitive price.

To provide the optimum benefits and services, management is split between our dedicated departments: residential property management and commercial property management.

Our services include:

  • Free advice on property management issues and leasing activities.
  • Free rental market appraisals.
  • Multi-lingual skills to cater clients from non-English backgrounds.
  • Advice to clients on recent law amendments affecting their properties.
  • We will always discuss the best way of meeting your requirements, so our management fees vary according to each individual's requirements and are based on the level of property management service you wish us to provide.

    RESIDENTIAL PROPERTY SERVICE

    (Information for commercial properties can be found under the commercial tab)

    PREPARING TO RENT YOUR PROPERTY

  • Your property should be clean, tidy and have a reasonable standard of decoration, to be attractive to good quality tenants and achieve a good level of rent.
  • Most property is let unfurnished. As a minimum you will need to provide decent quality carpets and light fittings.
  • As a landlord you have a legal obligation to provide a safe property for the tenants. This includes any electrical equipment provided, plugs, sockets etc.
  • You should ensure that all equipment is serviced regularly and provide instructions or user manuals so tenants know how to safely operate appliances and equipment.
  • You will generally be responsible for maintaining and repairing the fabric or structure of the property. It is also normal to pay the strata charges or any maintenance charges.
  • If you have a mortgage or loan on the property you must inform your lender for consent in advance of any letting. If the property is an apartment or portion of a building, then you may also need the consent of the Owner's Corporation.
  • You must inform your insurance company of any proposed letting to maintain your cover on the building, contents and public liability. If the property is a Strata unit, the Owner's Corporation insures the building. The tenant is responsible for their own personal items.
  • In addition, we highly recommend you to take out Landlords Protection Insurance. This insures against damage to your carpets, curtains, blinds, light fittings and any other furniture left for the tenant's use. It covers theft and malicious damage by your tenant or their guests, as well as damage to the building. More importantly, it covers you for loss of income should your tenant abscond or default on their lease agreement. The insurance also includes legal liability cover to protect your personal legal responsibilities as a property owner.
  • MARKETING YOUR PROPERTY

  • We employ a number of tactics to get you the most suitable tenant, in the shortest time possible for the highest possible rent.
  • Your property will be advertised on our website, as well as several large affiliated commercial websites.
  • Adverts will be placed in appropriate newspapers.
  • We will contact all prospective tenants on our database.
  • The property will be advertised in our office display window.
  • GETTING THE RIGHT TENANT

  • At CMS Real Estate prospective tenants are thoroughly checked and screened by collecting references. This includes financial and employer checks and a search of the National Tenancy Database (NTD) and Tenant Reference Australia (TRA).
  • Despite this thorough referencing procedure, unforeseen events can occur for the tenant, such as a relationship breakdown or a change in employment circumstances. If these incidences occur our strict arrears control procedures come into affect.
  • THE PAPERWORK

    Before a lease is signed, we will assist you with the following necessary requirements for a residential tenancy (for commercial tenancies please contact our office for information):

  • Residential Tenancy Agreement.
  • A condition report that sets out the general condition and cleanliness of the premises.
  • A list of all up-front costs.
  • A copy of The Renting Guide.
  • The following are also legal requirements for residential lettings:

  • A rental bond paid by a tenant must be sent to the NSW Office of Fair Trading within seven days.
  • At least 60 days' notice must be given of a rent increase. Tenants may challenge an increase before the Residential Tenancies Tribunal.
  • A landlord or agent is entitled to inspect the property up to four times a year but must give seven days' notice of each inspection. Two days' notice must be given to carry out repairs. No notice is required for urgent repairs. 'Reasonable' notice must be given to show the premises to prospective tenants or buyers.
  • The landlord is obliged to carry out all repairs but may be able to charge the tenant if an occupant was responsible for the damage. Urgent repairs must be carried out as soon as reasonably possible or the tenant is entitled to spend up to $500 and be reimbursed within 14 days.
  • To end a tenancy a landlord must give 14 days' written notice in a prescribed form, or 60 days' if the fixed term of the lease has expired (30 days if the premises have been sold).
  • If the tenant is more than 14 days behind in the rent, you may give 14 days' notice of termination.
  • Further information is contained in The Renting Guide published by the NSW Office of Fair Trading, which can advise or mediate on problems with tenants. If this fails you can apply to the Residential Tenancies Tribunal.
  • RENT COLLECTION

  • At CMS Real Estate we have a series of procedures in place for tenants who do not pay their rent on time. Please contact us for further information.
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