Property Management Services
When renting out a house anywhere, a quality property manager is probably your first concern. If you’re visiting this website, it’s likely that you’ve already made the important decision to hire a professional rental property manager to help your investment work for you. We understand that choosing the right manager for your Chapel Hill, Brookfield or Kenmore property, or your house in Pullenvale, Pinjarra Hills or other nearby suburbs, is one of the most important decisions you will make. In many ways, properties in these areas of Brisbane West are different from other areas of Brisbane, and a specialist, expert property manager can be of great advantage to you as an owner. This is why we’d like to tell you about our services and why we feel Colleen Miles Management Services is likely the right choice for you, if you’re serious about your investment property.
The Benefits to You of Engaging Colleen Miles to Manage Your Investment :
We are Property Management Specialists in Brisbane’s West
Property management is what we do. In fact, it is all we do, which is a stark contrast to the majority of property management companies working today. A great many of these companies exist to sell properties, which means their focus and priorities are not with your business, but directed towards making profits from sales. At Colleen Miles Management Services, we believe that a professional service starts with putting our customers’ needs before our own. As property management specialists, we focus entirely on professionally managing your asset to offer you the best return on your investment and a personal, professional service you can trust. We are a local boutique property management agency, founded in 2014 and dedicated to Kenmore property management as well as St Lucia, Indooroopilly, Chapel Hill, Brookfield, Upper Brookfield, Pullenvale, Pinjara Hills, Anstead, Mt Crosby, Karana Downs, Karalee & Chuwar, amongst others. We believe that our specialist service, combined with a detailed understanding of the local market is the perfect formula for effectively marketing and managing your investment in this area.
Our Property Management Style: Focused on You
While most property managers will be responsible for up to 200 properties at any one time, Colleen Miles Management Services is a boutique property management service, which means we only manage a small number of properties by choice. We prefer it this way, because it allows us to give your business the professional focus and attention it deserves. When you ask us to manage your asset, you will find our style to be refreshingly different. You won’t be subjected to constantly changing staff; instead you’ll have regular and consistent contact with a single individual who values your business and knows your property well. It is our policy to keep you regularly informed. While we take on the hassle of running your business day-to-day, we know it’s your investment and we will make regular contact and involve you when there are important decisions to be made.
Professional and Practical Support
We provide a professional presence that attracts responsible, reliable tenants and places us in the forefront of the minds of local relocation specialists who will direct tenants our way, but we know there is more to property management than that. Property investors need to feel reassured that their investment property is being well cared for and that repairs and rent arrears are promptly dealt with before they become a problem. When you entrust your investment property to us, it won’t be handed to an inexperienced apprentice who has never owned a property themselves: Colleen Miles manages her own local property and brings her own experience and expertise to bear when issues arise. Ultimately practical, our property management style is efficient and effective. With on-call access to professional tradesmen, and professionally qualified to tackle tenant issues of any shape and size, we’ll deal with whatever comes our way.
The Numbers Have to Work
Colleen is very business savvy. Her former career was as an accountant, meaning she will always remember that your investment property is a business. At every stage, we make our decisions with your bottom line in mind. We know the numbers have to work, and this is reflected in everything we do: from tenant selection through to choosing the right investments to maximise your property’s value.
How do Our Fees Compare?
Our fees for letting and managing your asset are in line with industry standards, and reflect the quality of service you will receive. If budget is a concern, or if you own multiple properties, we are happy to tailor a package to suit your specific needs. Please visit us or get in touch for more information. And remember, the fees for our property manager services are a tax-deductible investment.
What to do Next
As soon as you start working with Colleen Miles Management Services, we think you will notice the difference – to your property, your bank balance and your peace of mind. Please get in touch today to find out how our boutique service can make your investment work for you.
Further Details of our Property Management Services :
Our Client’s properties are managed by the Principal, Colleen Miles, only. We do not have constantly changing staff. You will not have a youngster, who has never rented or owned a property, managing your valuable investment and making decisions on your behalf.
Marketing and Leasing Your Property
Our aim is to get your property leased quickly, to the most suitable tenant and for the highest possible rent. With this end in mind, we start marketing as soon as your current tenant gives us notice of their intention not to renew their lease. At this point we will also discuss with you any beneficial improvements to your property and any rent adjustments that could be made. Your property is listed on the biggest and most popular websites in Australia – www.realestate.com.au and www.domain.com.au (amongst others) and if it’s thought to be beneficial, advertising in newspapers will be carried out. All efforts will be made to secure you the best tenancy arrangement possible. We have associations with professional relocation companies and liaise with them regularly to match their clients’ needs with our client’s properties to find matches where they exist. We stress – we do not hand out keys. Colleen Miles will always accompany prospective tenants to vacant properties.
Communication with You and Your Tenant
We firmly believe that clear and appropriate communication is the key to successful property management. We will always keep in touch with you regarding progress of marketing and tenant applications and you will be included in approving applications. We always consult with our owners on lease renewals and rental review proposals, as well as when maintenance issues of a larger scale arise. We are readily available via email and phone and will always return all calls & emails as soon as possible and guarantee to do so within 24hrs. As the owner, you are welcome to attend when scheduled property inspections are carried out. We’re convinced that you will be pleased with the service you receive from Colleen Miles, and you may like to read what some of Colleen’s Clients have had to say about her services : Read Testimonials Here
Applications & Tenant Selection
To ensure the most suitable tenant is secured for your property we carry out stringent security and reference checks on each applicant, as well as requiring at least three forms of identification. This includes checking on rental history, personal references and employer checks. Only once we’ve conducted these checks do we recommend a tenant’s application to you. We strive to provide a 24 hour approval turnaround for tenants in respect of their situation and so long as we can contact you and no arrangements have been made otherwise we will discuss applications with you before approving.
Regular inspections are carried out at regular intervals throughout the tenancy – generally each 3 to 4 months unless arranged otherwise with you – and this helps us assess whether the tenants are meeting the terms of their lease. We then send you a detailed report with photos, highlighting any issues that may need your attention.
Rent Reviews and Recommendations
Rents are regularly reviewed to ensure they are kept in line with market rates and to ensure you are realising maximum returns on your property investment. We will recommend rental increases where and when appropriate and should we feel the property is not up to the standard it should be to command the optimum rental return, we will make suggestions on any improvements needed to achieve both a higher rent and a shorter vacancy period and work with you to rectify this.
Rental Property Maintenance and Repair
We recommend regular termite inspections. Particularly in this relatively heavily treed locality of Kenmore/Kenmore Hills, Chapel Hill and even more particularly so moving west to Brookfield, Pullenvale, Anstead, Mt Crosby, Karalee, Karana Downs and Chuwar, termites are a very real and very destructive danger to property. Recent court judgements now also make it prudent for you to have a registered and licenced builder carry out an annual inspection to advise on any concerns with the property. Queensland’s Fire and Rescue Service Amendment Act now requires an ongoing maintenance program for smoke alarms in all residential properties. All smoke alarms are checked during every inspection of your property and problems dealt with immediately. If emergency repairs are deemed necessary, we will organise them urgently. We will always endeavour to contact you before addressing major maintenance items but if they need immediate attention and we cannot be in touch with you in a reasonable amount of time, up to two week’s rent may be spent on rectifying a situation. Usually we will have this arranged with you at the commencement of your appointment of our agency to manage your property. Any contractors engaged to work on your property will have been requested to provide us with their relevant licenses and insurance. We only engage tradespeople with a proven track record and regularly check their prices through quotes. Should you have a preferred supplier for particular services, we are happy to comply with your wishes. At your request, we will always obtain quotes on any more expensive bodies of work that need to be carried out.
Managing Cash Flow
Starting a Tenancy
- Tenants are to pay two weeks rent within 24 hours of us notifying them their application has been approved. We will continue marketing the property and accepting applications until that payment has been cleared.
- Tenants are then required to pay their bond and execute a lease prior to taking the keys. You will be provided with a full copy of this lease and the Entry Condition Report with your next monthly statement. We also provide a photo disc with the entry condition report.
- Tenants are required by law to keep their rent in advance at all times and we work with them to ensure making their payments is easy and convenient.
- Any arrears are checked on daily, with reminders (including phone calls, emails and SMS) in place. The Residential Tenancies and Rooming Accommodation Act guides appropriate default notices to be sent to the tenant and unless otherwise directed by you we advise owners of all major rent defaults.
Payments to You
- Your rental income is held in our audited Trust Account.
- We do prompt, monthly income disbursements to you of all available and cleared funds on the last working day of the month. Your funds are sent direct to your designated financial institution.
- Your end of month summary statement is emailed the same day. We also provide end of financial year summaries at no cost.
- We can pay your Brisbane City Council rates, body corporate fees and insurances on your behalf if you advise them to send the notices directly to us.
Completing a Tenancy
- Using the Entry Condition Report and photo disc, detailed exit inspections are carried out with tenants. We give utmost consideration to the owner at this point and give close attention to detail.
- In the unlikely event of a tenant breach causing an untimely termination of a tenancy, we follow a strict procedure as outlined by the Residential Tenancies Authority, and can, if required due to a bond dispute, attend Tribunal on your behalf to seek recovery of outstanding rent and and maintenance and cleaning costs that are not covered by the bond.
Protecting Your Investment
We strongly recommend that you take out Landlord Protection Insurance for your investment. In particular we draw your attention to building, fixtures & fittings, tenant default and malicious damage insurances. Public Liability insurance of at least $10Million is strongly recommended. Tenants are required to take out their own contents insurance.
Increasing the Value of Your Investment
Whilst we always recommend maintaining your investment in good order for the enjoyment of your tenant and to maintain the value of your investment – both capital and cash flow – sometimes extra improvement or a slightly larger renovation or body of cosmetic work is in order. Or you may be pushed for time or do not live in the locality of your investment property in Brisbane West, and require assistance to have minor cosmetic improvements carried out. Colleen will be able to provide you with suggestions on improvements to the house that would achieve you a higher rent, a shorter vacancy period and potentially a higher sale price should you choose to sell. Often this can be scheduled in between tenancies if you are planning in advance. We are able to put you in touch with skilled professionals who can provide you with great options at affordable prices.
Ensure You Are Running Your Investment Property as a Business
Not all landlords are aware that tax deductions can be made on the building and fixtures on their property. In order to maximise your tax deductions we recommend you engage a quantity surveyor to assess your property and provide a depreciation schedule to provide to your tax accountant. This is not something that can be carried out by you, your builder or your tax accountant, and certainly not your rental property manager.