What to expect when dealing with Chen & Tan Real Estate?

 
1

Always available and prompt response.

We are a family run boutique agency, and we love our business and we care about our clients. You can be sure your correspondence will not be ignored. We are always available. No more, “my property manager never gets back to me”.

 
2

Effective and efficient solution.

We are here to make sure you’re maximising your return in your investment. We look deep into the issue and find you the most effective and efficient solution. No more “This thing keeps breaking and it’s costing me money every time”.

 
3

Kept up to date with the property condition.

We conduct 3 routine inspections each year in March, July and November. We also take photos of the property, and we will email the owner the routine inspection report with the photos together with (if any) maintenance request. No more “Routine inspection report? What routine inspection report?”

 
4

Utilising technology with a personalised touch.

We email you a monthly statement as well as a yearly statement. You can always login online to check your financial statements, reports, photos, graph and more. We don’t keep your property records from you, so you can always see how your investment property has been performing. No more “It’s so hard to get them to send me a statement and they were going to charge me for it.”

 
5

A free annual market appraisal for the property.

To assist the owner with keeping up to date with the property market, we provide a free personalised market appraisal in April every year. No more “I have no idea how much my property is worth now.”

6

Always inform the owner for any repairs and maintenance.

At Chen & Tan Real Estate, we always inform the owner for any repairs and maintenance. In the event of an emergency repairs as per stated in the regulations, we will inform you, a phone call, an SMS or email, but may have to authorise with the repairs if required. “Why do they just spent my money without informing me first?!”

What’s in Property Management?

  • Rent assessment – to conduct market research of the rental market and determination of the rent.
  • Preparing the property – to identify any issue to be dealt with prior to marketing the property, e.g. smoke alarm installation; carpet cleaning, pest control.
  • Landlord insurance – organize landlord insurance to ensure that the property and owner are covered.
  • Market the property – photo taking, advertisement copy writing.
  • Listing the property – list the property online to websites.
  • Open for inspection – conduct open for inspections for the prospective tenants.
  • Screening of tenancy application- including TICA check, character and background check.
  • Report and liaison with the landlord about the tenancy application(s).
  • Liaison and negotiate the tenants with the landlord, rental prices, terms of the lease- negotiating the terms and conditions optimum to both the landlord and the tenants.
  • Preparing lease agreement with the agreed terms – preparing paperwork.
  • Deposit taking – to take deposit from the successful applicant to secure the property.
  • Remove the listing – once the deposit is taken, the listing will be removed from the websites.
  • Bond Lodgement – to lodge the bond payment to RTA.
  • Lease agreement sign up – meeting with the tenants and going through the lease (tenancy) agreement with the tenants.
  • Entry condition report- a detailed entry report to be given to the tenant at the start of the tenancy.
  • Exit condition report to be done within 3 days after the tenants return the keys at the end of the tenancy agreement.
  • Bond release – lodge in bond release form to RTA when the tenancy is finalised.
  • Collection and Payment of rent – to collect rent and issue notices as required.
  • Accounting – recording of all the income and expenditure of the investment property.
  • Ongoing liaison with tenants and landlord – communication is important to ensure a happy tenancy.
  • Routine Inspections – to conduct 3 routine inspections per year providing peace of mind for the landlord.
  • Repairs and maintenance – Liaison for repairs and maintenance to be performed.
  • Payment of outgoings – making payments to council rates payment, body corporates payment.
  • Liaison with the body corporate – liaison with body corporate and attend meeting if required.
  • Rent review, lease renewal – rent reassessment approaching the end of the lease to ensure the optimal rent is achieved.
  • Insurance claims – lodge insurance claims and liaison with the insurance company needed.
  • Dispute resolutions – participating in the dispute resolutions with RTA.
  • QCAT proceedings – QCAT case preparation, lodgement, representing landlord in the hearing.

Tenants Selection Process

 
1

Inspection prior to apply to the property

We required all the prospective tenants to inspect the property prior to apply to the property. Apart from making sure the tenants know what they are getting, it has also give us a chance to see and deal with the prospective tenants.

 
2

TICA Check

Once the application is received, we will do a TICA check, to make sure the applicant has got no bad debt with other agencies.

 
3

Tenant Reference Checks

We will then proceeds to ask for a rental reference from the current or previous agent that the applicant is renting or rented from to see the rent paying patterns of the tenants.

 
4

Continue The Applicant's Background Check

We will then continue to do the background check including calling the employer and checking the ability of the tenants to for the rent. Sometimes, property just may not be the right fit for the tenants.

 
5

Contact Property Owner

Once the screening process is done, we will then call the owner to discuss the application.

 
6

Property Owner's Decision

The owner always get to make the choice of who will be the tenants of the property. We are merely there to give information for the owner to make the informed decision.

 
7

Continue To Market Property

We will continue to market property until the successful applicant has paid at least 1 week’s rent as the deposit to ensure your property has got the lowest down time possible.

 
8

Set Up A Sign Up Appointment

We will then set up a sign up appointment with the tenants. In this appointment, we will go through all the important do and don’ts and get the paperwork signed.

9

Tenants To Collect Property Keys

After the sign up appointment, we will then arrange a time for the tenants to pick up the keys from us and have photocopy of the keys and get them to sign to acknowledge that that have got the keys.

Routine Inspections

One of the main aspects of making sure the property is in good hands is to have a physical inspection, therefore the routine inspection.

The purpose of routine inspection is not to find fault and to interrupt the tenant’s life, routine inspection is carried out to ensure the property is being well cared for and that there are no maintenance or health and safety issues.

A routine inspection give a chance for the property manager (sometimes with the owner) and the tenants can have a chance to meet their property manager and to report and show any maintenance request to the property manager, which will eventually reporting the maintenance request to the owner.

Prior to the inspection, an maintenance request form will be sent or emailed to the tenants, so that the tenants can write down the maintenance issues and can go through with the property manager at the inspection to provide greater understanding of the issue.

At Chen & Tan real estate, we conduct routine inspections in the first 2 weeks of March, July and November. These dates have been carefully selected to ensure minimal disruption to the tenants for the busy months. The tenants will be informed at the time of the sign up of their lease and it keeps everyone in a loop, making it easy to make arrangement (if needed).

We will also take photos at the routine inspection for the owner’s peace of mind and reference.

Entry and Exit

Entry Condition Report is a legal document that records the condition of a property at the beginning of a tenancy. It must be prepared the lessor/agent and sign their part and to be given to the tenant(s) prior to the tenant(s) occupying the premises. The tenant(s) then sign and return the report to the lessor/agent within 3 days. Should there be any disagreement with report completed by the lessor/agent; the tenant(s) must mark in copy of the report in an appropriate way and return to the lessor/agent within the appropriate time frame given.

Why is the Entry Condition Report Important?

A detailed and well prepared Entry Condition Report together with photos will make sure you (the landlord), your rights and your property is protected should there are any damages to the property at the end of the tenancy.

As mentioned above, the Entry Condition Report is a legal document and it is used as a gauge at the end of a tenancy. The tenant(s) is to leave the premises as stated in the Entry Condition Report as agreed and signed by both parties including some reasonable wear and tear.

Should there’s dispute at the end of the tenancy, the Entry Condition Report will act as the evidence in Dispute Resolution with RTA and tribunal hearing at QCAT.

Exit Condition Report (From 14a)

As opposite to Entry Condition Report, Exit Condition Report is the legal document of recording the condition of the property at the end of a tenancy, and instead of being prepared by the lessor/agent and be given to the tenant, it was to be prepared by the tenants and signed then given to the lessor/agent.

The lessor/ agent must get back to the tenant(s) within 3 working days should there’s any disagreement about the condition of property. The tenant(s) must leave the property leave the property in same condition as it was at the start of the tenancy, allowing for fair wear and tear.

The lessor/agent must carry a copy of the original Entry Condition Report and only compare the condition of the property at the Exit Condition Inspection.

It is very important for the lessor/agent to write notes on the designated column supported by photos when there’s discrepancy between the Entry Condition Report and the Exit Condition Report.

The Exit Condition Report, together with the Entry Condition Report act as the evidence should the lessor/agent make an insurance claim, mediation and QCAT hearing should that required.