Communication

Most landlords will tell you that communication is the number 1 issue they have with property managers. You only hear from them when there is a problem. This is usually because most property managers are over worked due to the amount of properties they have to manage without the necessary support staff or integrated systems.

At Belmont Property Management, our property managers have smaller individual portfolios to manage therefore giving them the time to be able to communicate with their landlords on a regular basis.

You will have direct email access to your Property Manager, together with a mobile telephone number.

Rental Arrears Management

Cash flow is king! As an investor, your rent is your income. More than likely your property will have a mortgage and if your tenant hasn’t paid the rent, then you personally are affected.

We believe in a Zero Tolerance to Rent Arrears Policy.  Lease applications are only approved when we are confident that the rent will be paid on time. Changes in circumstances can put some tenants behind with their rental payments. We will not know who this might be when we sign up a new Tenancy Agreement, so it is standard procedure to advise all of our ingoing tenants about our Zero Tolerance Policy for late rental payments.

Our standard follow up procedures involve SMS, email, phone calls and if necessary personal visits. This procedure may cause some people to become upset and or embarrassed however we make no apology for these follow up actions as the rent must always be paid on time.

Continual Rent Reviews

There is nothing worse than finding out your property is being rented for below market rent. We review rents every three months for our landlords if tenants are not on leases. If a tenant is on a lease, we review the rents about 90 days before the expiry of the lease. This gives us time to speak to the landlord, speak to the tenant, to negotiate and give notice to a tenant of a rent rise.

A lot of landlords get frustrated that some property managers do not review the rent until the lease expires. We will also advise our landlords if the rental yield can be improved by better maintenance or renovation of a property.

Property Inspections

Routine Inspections are a vital part of property management to ensure the upkeep of the property and to monitor possible maintenance or improvements to the property.

Our Property Management team regularly inspects properties on behalf of the landlord.  After each inspection the landlord will receive a full written report on the property’s condition.

During these inspections we will take photos and conduct a maintenance inspection as well as a general check of the internal and external condition.  Should any major maintenance be required, the landlord will be notified immediately.

At Belmont Property Management, we conduct inspections at the following intervals:

  1. An ingoing inspection prior to the tenant moving in
  2. 12 weeks after the tenant has moved in
  3. 3 or 6 monthly depending on the requirements of the landlord
  4. An outgoing inspection on completion of the tenancy

Landlord Insurance

It is recommended that all Landlords take out a Landlord Insurance Policy to help protect their most valuable investment.

Tenant circumstances can change such as loss of job, death, health concerns or family issues.

Things to consider when choosing an Insurer

  1. Excess payable on rent arrears
  2. Excess payable on damage – per item
  3. Is the tenant required to be in a fixed lease at all times