Moncrieff Realty are dedicated to providing efficient and unsurpassed Property Management services.
Why choose Moncrieff Realty?
Moncrieff Realty prides themselves on a high level of professionalism and genuine customer service. With over 25 years of experience and enthusiastic committed team of staff, Moncrieff Realty really does set itself above the rest.
Our Property Managers are all licensed and governed by the Real Estate and Business Agents Supervisory Board, the Code of Conduct and the Residential Tenancies Act.
We ensure our staff attend frequent training courses to keep them up to date with issues such as risk management, changes to legislation and market trends.
Whether you live interstate, overseas or around the corner, we can assure you of our constant, honest and reliable services to manage your property effectively and maintain a close and friendly relationship with all parties.
With the revised Residential Tenancies Act and Regulations taking affect on the 1st July 2013, it is so important to hire an efficient property management company to manage your investment property and keep you out of the way of the new proposed pentalties.
With the new Act, prescribed forms must be used, bonds must be lodged with the Bond Administrator, lease end dates have changed as well as rent increases, property condition reports, entry to premises and so much more.
Moncrieff Realty have attended many seminars regarding the changes and are prepared for the changes on the 1st July 2013.
Majority of tenants prefer to lease a home through a professional agent as they have comfort in knowing who is managing the security of their home and also a 24 hour helpline for emergency maintenance.
If I would like my property professionally managed, what is involved?
We take care of all management aspects including:
- Assessing the current market rent for your property
- Collection of rent
- Marketing and helping with the selecting of the most suitable tenant to your property
- Routine inspections to ensure your property is well maintained
- Carrying out necessary repairs and maintenance
- Payment of funds to your nominated bank account as well as paying creditors for maintenance and any other outgoings that you wish
- Daily monitoring of rental payments and following up missed payments as per the guidelines of the Residential Tenancies Act
- Tenant vacating and bond refunds
- Application checks and 100 point ID for applicants
- Rent reviews
- Lodging the bond with the Bond Administrator
- Attending to Property Condition Reports
- Using the prescribed forms and notices
Are Management Fees tax deductible?
Yes, management fees are an earnings related expense and therefore can be claimed as a tax deduction.
Advertising & Marketing
Every available avenue is used to expose your investment property to the maximum number of prospective tenants to lease your property quickly with the best tenant possible.
Today's marketing for rentals is mainly done via the internet. As technology gets better the need for newspaper advertising had decreased. Moncrieff Realty will upload your property with a full text description and photos on a number of interest sites such as:
We also have a professional photographer who can get the best photos of your home.
Moncrieff Realty also work very closely with a number of relocation agencies who specialise in finding rental accommodation for employees of large corporations who are being transferred to Perth.
Signboards, newspaper advertising, window displays, in house marketing and social media can also be used to ensure the maximum exposure of your investment.
Your property is opened with an unlimited number of open homes by a respresentive of Moncrieff Realty until your property is leased.
Moncrieff Realty take pride in selecting quality tenants. Each application has been thoroughly checked, employment verified and processed through the National Tenancy Database.
Each and every tenant is required to complete a detailed REIWA application form and provide rental, work and personal references, proof of income and most importantly 100 point ID check.
You, as the Owner have the final say who will be the approved applicant after discussing the options and any relevant ACTs with your Property Manager.
Our Tenants have several options available when paying their rent. With so many options it is not surprising that our tenants are rarely behind with their rental payments.
If a tenant does fall behind, our Property Managers are equipped with Breach and Termination Notices and will be served to the tenant. We do not tolerate late paying tenants.
Should the tenant not respond to our notices, we will seek your instructions throughout the legal process.
Moncrieff Realty has a variety of quality, professional, registered and licensed trades people to carry out necessary maintenance on your property.
We also provide you with a copy of all invoices that has been arranged and paid on your behalf.
Routine Property Inspections
We are proud to have a dedicated Inspection Manager who carries out all inspections of our Investment homes to ensure consistency and also to allow our Property Managers more time in the office to carry out the day to day running of your Investment home. Moncrieff Realty's Inspection Manager will guarantee to provide you with a full report on any current and future maintenance and also the standard to which the tenant is looking after the home.
Not only will you receive a report every time you will also receive colour photos.
We will regularly review the rental price alongside the current market statistics and request your permission prior to any rent reviews are actioned.
Our Property Managers have extensive experience in rental negotiations relieving you of this stressful task as well as maximising the rental return for our Investors.
How often do Tenants have to pay rent?
Tenants are required to pay rent on or behalf their due date so they are not in arrears. This means that tenants are able to pay rent weekly, fortnightly or monthly as long as they pay on time.
As per the Residential Tenancies Act, a lessor or property manager is not able to ask for any more than 2 weeks rent in advance.
Insurance requirements for Landlords
A building policy should protect the structure of your property including:
- Pipes and cables
- Fixed appliances
- Gas or plumbing systems
- Fixtures and fittings (except for carpets loose floor coverings, curtains and internal blinds)
- Exterior blinds and awnings
- Some external structures
Building insurance should also cover you for the complete or partial destruction of the property, and typically covers loss of rent while the property is uninhabitable.
It's a little more complicated when it comes to units. As the fabric of the building is typically insured by a body corporate, you are forced to rely of their insurance for damage to structures. However, you can purchase specialist insurance, usually called 'strata title protection' which should cover you in the event the body corporate is underinsured.
You should also be clear on where you stand on contents, even if you're not providing a furnished property. Contents insurance covers items that are not viewed as part of the structure of the property such as:
- Household goods
- Internal blinds
- Loose floor coverings
- Light fittings which are not permanently fixed to the buildings
- Domestic appliances and utensils.
As a rule, it will only cover items owned by the landlord, and not property owned by the tenant. You will typically be covered for damage to your property caused by the tenant and/or guests, although some providers may charge a premium for this.
Also keeping in mind, if you have a section of the property locked with your own belongings you will want to cover this with contents insurance.
Rent default / Landlords Insurance
Rent default insurance protects you against loss of rent. Not all polices cover all eventualities, but most should protect you against loss of rent due to:
- Tenant eviction due to a court order
- Tenants obtaining a hardship order
- Unexpected death of tenant
Some of the other policies will also cover you for accidential and malisious damage and court costs.
Public / Legal Liability
Legal liability is usually covered in a landlord insurance poilicy or building insurance policy. This insurance is to protect you against the possiblity of injury or death due to landlord's negligence.
Workers Compensation Insurance
Workers compensation insurance is needed when you have employees such as superintendents, maintenance workers, receptionists, or even when you hire contractors and allow them to work at your property.
"Research shows that 80% of property investors are failing to take advantage of property depreciation and are missing out on thousands of dollars in their pockets" said Bradley Beer, Managing Director of BMT Tax Depreciation.
What is Depreciation?
As a building gets older, items wear out - they depreciate. The Australian Tax Office allows property owners to claim this depreciation as a deduction. Depreciation can be claimed by any property owner who obtains income from their property.
If you are wanting any further information regarding tax depreciation or if you would like to arrange for a report on your investment property, please contact the property management department on 9330 1644 or call BMT Tax Depreciation Quantity surveyors on 1300 728 726
Swimming Pools & Spas
In 1992 the State Government established compulsory standards for pool security, which requires Local Authorities to inspect all private swimming pools/spas upon installation.
General pinciples of pool security for new pools
Safety barriers are required to restrict access to private swimming pools (both above and below ground) and spas by children both outside the property and within buildings on the property. Safety barriers for new pools may now include fences, gates and modified windows. Spa covers, roller doors, French door, self closing doors and key lock windows are no longer acceptable barriers.
From 1 September 2007, all new swimming pools and spas are required to be covered by a blanket to reduce water evaporation and accredited with the "Smart Approved Watermark" as required under the Building Amendment Regulations (No.3) 2007.
Access to a pool from inside a building
Legislation requires that a barrier be located between a pool and a house or other buildings. This barrier must be in a form of a fence isolating the pool from buildings, or may comprise an isolation fence and modified windows. Doors opening into the pool area are not permitted.
Any window with a sill lower than 1.2 metres from the floor must either have a permanently attached security screen fastened to it (recommended) or be constructed so that it can only open maximum 100mm permanently fixed. A device used to restrict the opening of a window must require the use of a tool to remove it. A keyed device (window lock) is not acceptable.
Gates accessing the part of the yard containing a pool must be at least 1.2 metres high, must swing away from the pool, must have a automatic closer that will make the gate shut and latch from all position, and must have the latch release at least 1.5 metres above the outside ground surface.
Pools must be fully surrounded by complying barriers. Boundary fences may be used provided they comply with the isolation fence requirements to one side of the fence and cannot be climbed by young children.
Access to a pool area through a garage is not allowed. Options to restrict access through a garage include a complying fence and gate across the rear of the garage area.
An isolation fence must comply with the following:
- a minimum height of 1.2 metres
- maximum spaces between vertical members of 100mm and
- maximum space under a fence of 100mm
Fences and gates must not have any rails or other non-vertical parts closer together than 900mm.
Any climbable object such as trees, BBQs, pool pumps, pot plants, garden beds must be 1.2 metres away from the fence or gate and 30cm on the inside of a metal fence.
Digital Ready Television
To watch digital TV the tenant is responsible for ensuring that they have the right equipment to receive digital television - equipment like a set-top box (for connecting to an analog TV) or a TV with a built-in digital tuner. The tenant is also responsible for connecting their TV to the wall socked.
What are the Landlord's Responsibilities?
The Landlord has to ensure that the antenna system for the property continues to provide the tenant with television services. The Landlord is responsible for maintaining the antenna, repairing the cabling that leads from the antenna to the wall socket, along with any splitters or amplifiers if these are a part of the antenna system, and meeting the installation costs for any upgrades.
Hardwired Smoke Alarms
It is law that residential properties that are subject to sale, rent or hire are required under the Building Regulations 2012 to install mains powered smoke alarms. This includes Class 1a, Class 1b, Class 2 and Class 4 buildings, as defined under the Building Code of Australia.
What are the Landlord's Responsiblities?
Each smoke alarm that is installed in the property is to be:
- Maintained in working order
- Permanently connected to the mains power supply; exceptions are when a battery powered smoke alarm has been approved by the local government under Regulations 61 or where a battery smoke alarm is allowable under Regulation 60(2)(d)(ii) in circumstances where there is no hidden space in which to run the electrical wiring and there is no appropriate alternative location. The other exception is where a battery powered smoke alarm is approved or allowable exceptions above, they must have a 10 year non-removable battery.
- No more than 10 years old and/or has not reached its expiry date (if provided on the alarm) (regulation 62)
Maintaining Smoke Alarms
- Check the alarm(s) are firmly secured in the correct location as per the Building Code of Australia requirements (double sided tape is not acceptable)
- Check the required power source is connected and operating.
- Test the smoke alarm
- Check the smoke alarm(s) for a build-up of dust and cobwebs
- Check the smoke alarms are within their service life. Smoke alarms require replacement every 10 years. The date of replacement is located on the unit.
- Replacing the batteries annually. Mains powered smoke alarms have back-up batteries and require changing annually.
Water Consumption Accounts
The Water Corporation have announced that as of the 1st July 2013 water use and service charge bills will be sent every two months. This means we will have more frequent bills with costs that are spread throughout the year and also detect leaks earlier.