We aim to maximise your financial return by giving careful attention to the following issues.
In order to obtain optimum financial return from your investment property we will conduct a comparative market analysis to establish the current market rent applicable for your property. A review will then be conducted on a regular basis to ensure the ongoing growth and stability of your investment property.
A rental bond is paid at the beginning of each tenancy and is equivalent to four weeks rent or six weeks if the property is fully furnished (being the maximum allowed under the Residential Tenancies Act).
COLLECTION AND CONTROL OF RENTAL MONIES
Your tenants will be supplied with a rent card so that they are able to make rent payments at any branch of the Newcastle Permanent Building Society. Some tenants may also decide to have their rent payments directly debited from their pay accounts each week, pay by direct deposit or have their rent deducted from Centrelink payments.
These rental payments are required to be paid in advance and are carefully monitored with any arrears being followed up diligently and without delay.
RENT REVIEWS AND INCREASES
Rental reviews are undertaken on an annual basis and are based on comparative rentals, current market demand and the general condition of the property.
A continuing tenancy at a fair market rent will achieve a far better return for an investor then a series of tenants at the highest possible rent.
ACCOUNT PAYMENT SERVICE
Dowling Real Estate Cessnock can pay all of your outgoing expenses that relate to your investment property. This includes Council Rates, Water Rates, Strata Levies, repair and maintenance accounts, Landlord Protection Insurance and any other expenses that may arise.
Any such payments will be clearly noted on the corresponding mid/end of month statement along with the original account.
End of month accounts are processed on the last working business day of the month. All statements will be mailed/emailed out to you along with any original invoices that have been disbursed from your account for the month.
If you are going to be receiving a mid & end of month payment your money will be disbursed on the second Friday of the month except if it is a five week month then it will be disbursed on the third Friday of the month and then you will receive a payment on the last working business day of the month.
Your statement will provide you with details such as the full amount of rent received, the tenants current “paid to” dates, disbursements, management fees and any additional income or outgoings during that month.
All funds are electronically transferred into your nominated bank account each month or if you prefer you can receive your payment by cheque.
END OF FINANCIAL YEAR STATEMENTS
You will receive at the end of each financial year a full report of all income and outgoings in relation to your investment property. This report will be of great assistance when declaring your rental income and expenditure for taxation purposes.