We believe great tenants are your most important asset. Without A grade tenants who pay their rent on time and look after your property you don’t have an income and we don’t have a job!
We want to select the best possible tenants in the marketplace for your property and then wow them with our service so we can retain them for as long as possible, providing you with great returns on your investment year after year.
Happy tenants are more likely to renew each year (helping avoid costly vacancies and advertising and re-let costs)
Well serviced and educated tenants are more likely to accept regular reasonable rent rises if they believe they have been well treated. They are also more likely to treat your home as if it were their own.
Once selected, we ensure our tenants are treated with respect. We clearly educate them on the expectations they should have of us and of you as their property owner. By creating this two way relationship and demonstrating that we value our tenants, this allows us to then hold them accountable to our expectations, for rent to be paid in advance and the property to be respected.
This is the simplest way to ensure great returns and capital growth on your property year after year.
The Real Property Management Australia Tenant Selection Process
1. Enquiry and inspection
Our tenant’s selection process begins with the very first contact.
The process of filtering suitable tenants begins right from the first phone call or email. We respond promptly to ALL enquires on your property and we quickly filter the genuine prospects from the also rans with a series of strategic questions.
People who fit the correct criteria are offered an immediate escorted inspection. We do not hand out keys.
This personal inspection allows us to meet our prospective tenant and begin to build a case for or against the applicant and begin to establish the suitability of the potential tenant, all before even getting an application. This is also an opportunity for us begin to educate the prospect on our expectations and standards.
If deemed suitable the tenant is offered an application to complete and return as soon as possible.
2. The application
We requalify the tenant again when the application is submitted, educate further on our expectations and standards and only now begin normal processing procedure.
The application is processed by the same person who carried out the inspection as they will have already begun to build a personal relationship and will have a clearer understanding of the applicants suitability or otherwise.
We apply maximum effort at this stage to ensure only the best possible applicants make it into our properties. This helps avoid the burdensome cost of removing and replacing unsuitable tenants.
Whilst not 100% foolproof, our experience shows this is the best method to filter out the majority of unwanted tenants BEFORE they get into your property.
In addition to all of the above, we of course carry out all the normal checks including
- (TICA) Tenancy default database check
- Evidence if Income
- Minimum 100 Points id
- Previous rental references
- Personal and work references.
We take responsibility for dealing with any approved tenant that we place in your property. We will need to collect the rent, hold them accountable and then remove them if something goes wrong.
You, our owner will hold us responsible for this decision. This ensures we will be the strictest judge of who we allow into your property!
3. Approving the application
Most owners are unaware that this is easily one of the most costly areas within property management.
Other agents can take as long as 2-3 weeks to process an application, resulting in hundreds or thousands of dollars of preventable losses to owners. We ensure ALL submitted applications are processed within the shortest time possible. Plus we guarantee our tenants an answer within a maximum of 24 hours.
This means no lost money for you by having a potential tenant waiting days or weeks for an answer when you could be collecting rent, or even worse, a potentially perfect “A” grade tenant, gone to another property because they are frustrated waiting for an answer.
The biggest excuse agents use for this delay is that the owner has been unable to be contacted.
We believe this is exactly the decision that you pay us to make!!
Your property manger should already have your specific instructions and then make a decision accordingly. It is this inability of property managers to accept responsibility that frustrates both owners and tenants and costs you money. Your property manager is paid to MANAGE your property, and if they are incapable of making a decision on something as basic as whether or not a tenant is suitable for your property without your input, its time to question their competence.
Time is money so we act fast!
If an application is successful we get the tenant in to sign up and pay immediately.
- We make the decision quickly, on your behalf, in accordance with your instructions
- We do not waste time waiting to discuss all applications with our “uncontactable” owner
- We do not delay putting a paying tenant into your property by handwringing or passing the buck
In some cases the first our owners know of their new tenant is a congratulations phone call or email informing them of their new tenant and advising “the money is in the bank”.
This is just one of the “secrets” to our extremely low vacancy rate that saves our owners thousands of dollars.
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4. The sign up
Once the application is approved we book a signup appointment and continue our induction process.The sign up includes:
- Reinforce expectations/standards
- Education (ie rent arrears procedure, lease break, vacate procedure and costs)
- Tenant expectation handbook,
- Maintenance procedure and how to lodge
- Tenant newsletter
- Our promises to them, and their expectations of us
- Welcome gift and vouchers to demonstrate they are important to us
- Introduction to the team and their nominated contact point
5. We maintain the standard
We don’t stop at sign up!
Education and accountability is an ongoing process and we have found that a little extra effort in the early days setting and reinforcing our expectations result in a lot less pain in the long term.
We have an intense focus on building and maintaining a strong relationship with your tenant and ensuring they meet our expectations at all times. We have found liberal use of positive reinforcement matched with a firm stance whenever needed helps produce the best and most consistent results.
6. Renewing your lease
We begin negotiations as long as 3 months before your lease ends and unless you have given us instructions otherwise and we automatically renew your lease for the longest period possible at the highest achievable rent.
We know you want security to be able to plan for the long term so we put a great amount of effort into keeping you in control. A tenant on a periodic lease only needs to give 14 days’ notice to walk away and leave you without an income (usually at the worst time of year to relet the property)
Should the tenant elect to stay on a periodic lease we automatically apply a minimum 10% increase. Your tenant is advised fully at the first sign up of this state of affairs.
This allows us to maintain over 95% of our tenants on a fixed term lease and achieve regular rent rises.
This helps keep you firmly in control and maximise the returns that you achieve on your property.
