Communication is key as is everything in life.
A well maintained rental property is a great example of a harmonious tenant-landlord relationship.
At Prop247 we strive to ensure that our landlords & tenants are well informed when signing a Lease Agreement so that all parties fully understand the mandate terms.
‘Non-managed’ / ‘Procurement’ mandate:
- we will advertise and market the property at our expense
- find qualified tenants and do all relevant credit checks
- prepare Lease Agreement
- process Payment of Deposit and first month’s rent less commission
- provide Defect List to Tenant at the commencement of the Lease
- manage Renewal of the Lease
There will be a once off commission fee to the agent for this mandate. With this mandate the Tenant will pay the monthly rental directly into the Owner’s account after the first month’s payment. As the landlord managing the property, you will be responsible for collecting the rent, managing the property and your tenants over the duration of the Lease Agreement.
‘Managed’ / ‘Administration of the Property’ mandate:
- we will advertise and market the property at our expense
- find qualified tenants and do all relevant credit checks
- prepare Lease Agreement
- process Payment of Deposit and first month’s rent less commission
- provide Defect List to Tenant at commencement of the Lease
- manage Renewal of the Lease
- ensure rent is paid each month
- pay any bills on behalf of the owner (rates / levies etc)
- assist with any maintenance issues
- conduct bi-annual inspections on the property
- communicate directly with the tenant/li>
This mandate is preferable when the landlord would like the agent to take full responsibility of managing the property and the administration thereof. Our rental agent will communicate directly with the tenant. The fees are higher, however, there is more work involved for our agent. For this service there is a standard once off placement fee, plus a percentage of the monthly rent that will be deducted from the monthly rental received.