We aim to provide you with a service that is free of hidden charges and have developed a simple fee structure that ensures you know all of the costs in advance.
You will be charged a flat initial lease fee to cover tenant selection and vetting, and a flat monthly management fee to cover all of the services detailed below. Unlike more traditional fee structures, we will not charge you extra for items such as advertising, tenant referencing or statements.
PROPERTY MANAGEMENT
As property managers and estate agents, the philosophy of Mackay Real Estate is to provide you with property management that is unrivalled, ensuring you of a professional, efficient and personal service at all times.
We understand perfectly the value and importance that you place in your property and, of course, your obvious concerns when leaving it in the care of tenants.
As such, our service covers all aspects of property management, from finding and vetting tenants through to the final inspections upon their vacation.
The following sections describe in detail the services that we offer, but please do not hesitate to contact us if you require any further information.
ADVERTISING
Your property will be advertised by way of internet, signage and various social media sites which include:
realestate.com.au, Rent.com.au, Rent Find, Buy Sell Lease, On The House, Agency Website & Social Media
Signage – “For Rent” at the front of the property.
We are also in regular contact with various relocation agents within Mackay and inform them of suitable properties as they become available.
We can carry out weekly “Open for Inspections” of your property plus any private appointments requested by prospective tenants. We DO NOT hand out keys to your property and allow unaccompanied inspections.
TENANT SELECTION
Prospective tenants are required to complete an application form so their suitability can be ascertained. This includes current and previous agents/landlords, current and previous employers, plus personal and professional referees.
Furthermore, a search is carried out through the National Tenancy Database to ensure they have no history of bankruptcy or bad tenancies.
DOCUMENT PREPARATION
We prepare all documentation required to ensure all legal aspects are covered and your new tenant makes a smooth transition into your rental property. Some of these documents include:
• prepare REIQ approved lease documents
• add any pertinent special conditions
• complete a written condition report of the property
• take digital photos as further evidence of the property’s condition
• provide the RTA pocket rental guide which explains the rights and duties of the tenant
• complete the required Bond Lodgement form and forward with the bond to the Residential Tenancies Bond Authority
• prepare full inventories of furnished properties.
ROUTINE INSPECTIONS
We conduct routine inspections every three (3) months and follow up with a detailed report of the property’s condition and provide suggestions for general upkeep of the property.
RENTAL ARREARS
Our property management program automatically issues an arrears email as soon as a tenant is 3 days in arrears and then again at day 7. We have found this to be very successful in minimising rent arrears without the need to serve relevant Notices which happens after day 7.
For example:
Dear Cheryl
Please be advised that you are 3 days in arrears, with an outstanding rent amount of
$123.45 and outstanding invoices/fees of $0.00.If you have already processed your rent payment, please ignore this notice. If you are
having difficulty in making payments please contact us when you receive this notice on
07 4898 5999 or send an email explaining your situation to cheryl@mreqld.com.au.Regards
Property Management Team
Mackay Real Estate
RENTAL REVIEWS
Rents are reviewed annually according to current market conditions and comparable property prices. We issue the relevant Notice in sufficient time to allow for the required 60 days notice.
LEASE RENEGOTIATIONS
Both the landlord and tenant are notified prior to the expiration of the lease and each party’s preference is sought for an ongoing tenancy. Either a new lease agreement will be prepared or the tenancy will continue on a monthly basis.
REPAIRS & MAINTENANCE
We can arrange maintenance to your property according to your instructions. In the case of non-urgent maintenance, we can either refer to you before taking action or can organise maintenance on your behalf up to an agreed cost.
If you have preferred tradespeople, we will record their details and contact them when required.
Certain repairs are considered under the Residential Tenancies Act to be of such a serious nature that action must be taken immediately. Should such a situation arise, we will take all reasonable steps to contact you but if we are unable to, we will arrange necessary repairs.
Tenants can SMS and/or send an email for repairs 7 days a week which our agency responds to.
Tenants have the authority under the Residential Tenancies Act to organise urgent repairs up to the value of 2 weeks rent out of office hours – we therefore supply each tenant with details of our preferred tradespeople for such instances.
VACATING TENANTS
Tenants are provided with a detailed cleaning guide outlining our expectations in relation to the final inspection.
We liaise with the tenants to co-ordinate inspections for prospective tenants to optimise the chance of having someone ready to move in once the property becomes available.
We then carry out a final inspection to ensure the property has been left in a clean condition and there is no new damage.
Should this inspection be satisfactory and rent paid up to the final day, we complete the Bond Claim form with the tenant and disburse the monies within the required time frame.
PAYING EXPENSES ON YOUR BEHALF
To save you time and inconvenience and to ensure simplicity at tax time, we can arrange to pay the following expenses on your behalf:
Council and water rates, Insurance premiums, Body Corporate fees, Maintenance invoices.
LANDLORD INSURANCE
We highly recommend that every landlord take out insurance, not only to cover the building, but a policy specifically designed for landlords. This will cover not just internal fixtures and fittings but loss of rent, malicious damage and even tax audits.
QUEENSLAND CIVIL & ADMINISTRATIVE TRIBUNAL
QCAT deals with disputes arising between landlord and tenants when issues cannot be reasonably resolved. In the event of a dispute, we will:
- Serve the relevant Notice on the tenant;
- Make application to QCAT for a hearing;
- Attend any Tribunal hearings on your behalf to present the case;
- Follow up on any rulings and/or Orders issued;
- Arrange debt collection/insurance claims where required.
PAYMENTS TO OWNERS
PROCESSING RENT RECEIPTS TO TENANTS
Rent receipts are recorded daily into our software and the week’s receipts reconciled on Mondays or Tuesdays if Monday is a public holiday. Rent payments to owners are processed on Wednesday for the previous week.
Depending on your nominated bank, payments could be received in your account from Wednesday to Friday.
OWNER STATEMENTS
When processing payment to owner, an Owner Payment Statement is forwarded to you automatically from our property management program.
FEE STRUCTURE
LETTING FEE
We charge one week's letting fee including GST. This includes title search, conducting inspections, application and credit checks, document preparation and digital photos. You will not be charged a re-letting fee for negotiating a lease with the existing tenant.
MANAGEMENT FEE
Our management fee is 7.5% including GST of the gross weekly rent collected. This fee covers rental collection, routine inspections, rent reviews, lease renegotiations, arranging repairs and maintenance, paying of rates and invoices on your behalf, QCAT attendance and vacating inspections.
ADVERTISING FEE
Advertising through realestate.com is a subscription fee. Based on 2020 pricing this fee is currently $114.