Letting _ Property Management Services

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        Letting & Property
           Management
             Services

                    A complete overview
               of the services provided by our
               Investment Management team.




                   L J Hooker Project Marketing
                       Suite 201 Raheja Plaza
                Commissariat Road, Bangalore 560 025
                               INDIA


PHONE : +9180 2559 0005     FAX : +9180 2557 6613      EMAIL : pm@ljh.in
                                                               Project Marketing




                     TABLE OF CONTENTS


                Property Management Services - Objectives

                Why Appoint a Professional Property Management Team

                Our Guarantee

                Schedule of Service

                Maintaining Property & Records

                Fees and Charges

                Answers to some Common Questions

                General Landlord Information

                Conclusion




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    PROPERTY MANAGEMENT SERVICES

                                   OBJECTIVES


              "The L J Hooker philosophy of giving you more"



        • To maximise the annual net return from your investment.

        • To maximise the capital appreciation of your investment.

        • To make your property investment problem free.

        • To limit your exposure and risk to litigation.

        • To minimise the input you need to have in the day-to-day
          running of your investment

        • To provide you with ongoing accurate information to allow
          you to continually evaluate your portfolio.

        • To establish a personalised business relationship with our
          clients.

        • To provide the highest standard of professionalism in the
          services we provide.




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       WHY APPOINT A PROFESSIONAL
       PROPERTY MANAGEMENT TEAM?
When you buy property for investment you need to ensure that not only will the
property gain in value, but also that it will return you the highest net yield possible
with a regular and predictable cash flow.
You need to know that the monthly income will be EFT (Electronically funds
transferred) into your account every month on a set date, you need to know that
you will be provided with comprehensive financial statements every month and at
the end of the tax year.
As your professional manager we will ensure that you get the best tenant, the
highest rent, have the most cost effective maintenance and also the best security for
you asset – all with minimal inputs from you.
Property Management has become a specialised field with vast legal implications, so it
is also now important, more than ever before, to have your property managed by a
professional management team.
As the owner of a property it is your legal responsibility to comply with the various
acts of parliament and local statutes.
By employing our Property Management team you can rest assured that you and
your property will comply with all Regulations and Acts and that we will ensure you
are protected in the best possible way at all times.
We pride ourselves on having Specialised Managers that can provide state of the art
solutions with market leading results for our clients.
We offer you thoroughly informed and trained staff in all aspects of the business to
provide peace of mind to you as the owner.
Our personnel have a wealth of experience and knowledge within the field of Letting
& Property Management.
It is our aim to ensure that your property ownership is as easy as managing a share
portfolio in that you need almost no input and it is just as easy for you if you are in
London or New York, or indeed across town.




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                          OUR GUARANTEE




If you are not 100% satisfied with our service
 we will refund your management fees in full
        for that month – no questions!




                           An unconditional guarantee
                  of the quality of our service and performance.

  We believe that you should never settle for second best, and only pay
            for work that you are completely satisfied with.

We invite your critical assessment of our business at all times and would
urge you to contact us at anytime if you believe the service provided to
                         you could be improved.




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                    SCHEDULE OF SERVICE


    •   Market review of rental when required
    •   Lease preparation
    •   Tenant sourcing and selection (including reference checking)
    •   Lease execution
    •   Bond Collection and deposit
    •   Rental collection and arrears Control
    •   Maintain recoverable outgoings records to an auditable standard
    •   Liaise with the Owners Corporation and/or Facility Manager
    •   Monitor the exercise of options and liaise with all parties
    •   Maintain a detailed tenancy schedule
    •   Reconcile recoverable outgoings at years end and if necessary prepare budget
        for the new year
    •   Internet advertising to national and international potential tenants
    •   Six monthly inspections complete with report on property
    •   Monthly statements and monthly payment to owner
    •   Maintenance quotes and inspections
    •   Insurance Claim preparation
    •   Regular Newsletters keeping you up to date with latest information
    •   Direct deposit of funds to your nominated account
    •   Calculation rental reviews as per lease
    •   Monthly Invoice to tenants for rent accrued
    •   Monthly payments to Tradesmen for work completed and Monthly Contracts

If there is some other service you require that is not on this list – just ask! We will
do our best to accommodate your requests.




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             MAINTAINING THE PROPERTY
                   AND RECORDS


•   Advise the owner of initial rental value and periodic rental reviews.
•   Inspections carried out six monthly.
•   Maintenance is conducted on your behalf if required.
•   Copies of the following are maintained on the file and diarised on the computer:
        a)   Authority to Act for property owner
        b)   Tenant Application
        c)   Lease
        d)   Property Condition Report
        e)   Property Inspections
        f)   All correspondence between agent and tenant
        g)   Notices to tenant (when issued)
        h)   Notice of Termination (if necessary)
        i)   All Contractor Orders
        j)   Invoices paid
•   At termination of tenancy, check premises with tenant and finalise matters
    relating to the ‘Make Good’ clause.



FINANCIAL REPORTING

•   All monies received on your behalf are held in our Escrow Account in a holding
    ledger. From these monies, we pay all outgoings pertaining to the maintenance
    of your property as authorised by you.
•   All receipts and payments are clearly noted to you each month on your Monthly
    Statement, with the balance remitted to you at this time. Provide your account
    details & we can direct deposit cleared funds! Provide us with your email
    address & we can email your statement.
•   A detailed end of year financial statement is generated. We even keep the
    accountants happy!




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                       FEES AND CHARGES
Our fees for the management and leasing of properties reflects the quality and level
of service offered.


LEASING FEE
•   Covers the sourcing of the tenant and the preparation and execution of the
    lease;
First 2 weeks rental payable under the lease, or if a rent free period then 1/26th of
the annual lease amount. We do NOT charge the tenant – this ensures you receive
the greatest number of applicants and that you get the best rental possible.
If we execute a new lease with an existing tenant (or execute an extension) then the
fee is only 50% of the above (1 week or 1/52nd of the annual rental)
MANAGEMENT FEE
•   Base fee which covers rent collection, preparation of statements, payment of
    accounts, bond security etc;
     8% of gross rental receipts (taken from rental monies as collected)
ROUTINE INSPECTION
•   The first routine inspection is completed six months after the tenant takes
    occupancy and then every six months thereafter. Inspections are done, to
    ensure the upkeep of the property by the tenant and to also ensure that there
    are no maintenance issues that have been left unreported. Owners will receive a
    copy of findings with photos of any problem areas. These routine inspections are
    carried out free of charge.
•   Any additional inspections requested by the landlord are at a charge of Rs750 per
    inspection.
POSTAGE AND PETTIES
•   An amount of Rs300 is charged per statement.
REPAIRS
•   Arrangements for a minor and/or routine repair, is covered under the
    management fee, however arranging for major supervision of extraordinary
    repairs (in excess of Rs1500.00) is charged on an hourly basis. The current rate
    is Rs750 per hour.
TRIBUNAL & COURT APPEARANCES
•   First appearance at no charge, thereafter at Rs750 per hour. Lodgement fee’s
    will be payable by the tenant if found to be in default.




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   ANSWERS TO COMMON QUESTIONS


         “Why should I have my property managed by a specialist agent,
         surely anybody can collect the rent?”
        Collecting the rent is only part of the job. When you engage a specialist
        agent to manage your property they do just that – they manage your
        property. Management means more than just collecting the rent. It involves:

              •   Advising on acceptable lease structures so that your investment not
                  only retains its value but also has growth built in wherever possible.
              •   Negotiating lease terms with the tenant to obtain results that ensure
                  that the value of your property is enhanced by the lease and not
                  restricted or worse – devalued.
              •   Dealing with your tenant - in an expert manner regarding queries
                  and problems that inevitably arise from time to time with the
                  property and or tenancy. Negotiations with a tenant should only be
                  handled by a professional in order to achieve the best possible
                  outcome for all concerned.
              •   Ensuring the property is maintained.
              •   Advising the owners on rental and sale values and generally keeping
                  them informed of market trends.
              •   The future value of your property is dependent in part by the quality
                  of it’s management – to take chances with a non specialist is unwise
                  and likely to result in rough running for your investment and lower
                  returns.



         “Why is L J Hooker my best option?”

        L J Hooker have been in the business of letting and managing residential
        property for 80 years, it forms a core part of our business and we have
        expert people and systems to ensure we always get the best result possible.

        We have almost 800 offices internationally, with some 10,000 staff, and over
        $20Billion USD in property under management.




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                   LANDLORD INFORMATION
LANDLORD PAYMENTS

Your rental payments can be electronically credited direct to your nominated
account at your Bank.

This will save you time (quicker clearance of funds), and money (lower fees and
charges).

ADVISE AUTHORITIES

You are advised to notify the following authorities of the rental of your property:
      a) Insurance company
       b) Your accountant

INSURANCE

•   You are advised to check with your insurance company to ensure that your
    investment property is covered when leased.

EMERGENCY CONTACT

•   For landlords going/living interstate or overseas etc., we suggest that if possible
    they nominate someone locally to act as their proxy in case of an emergency and
    that this person is so advised of the extent of their authority. Their names and a
    point of contact should be noted with our Property Manager.

SPECIAL INSTRUCTIONS

•   If you have any special instructions, then these should also be notified to our
    Property Manager in writing. Further, should you have any specific instruction
    regarding who should do any maintenance work on your property, again please
    advise us in writing of this.

TAXATION CONSIDERATIONS

•   We suggest you speak to your accountant regarding your situation.


LEGISLATION CHANGES

•   We keep up to date at all times with any changes that occur. Our highest
    priority is to ensure all properties comply.



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EXCLUSIVE AUTHORITY TO ACT AS MANAGING AGENT

•   An Authority for us to act for you must be signed by the owner/s of the
    property in order to manage the property.
•   The Authority to Act is between L J Hooker and the owner/s of the property.


SECURITY BONDS

•   Security bonds are generally held in our Escrow Account (with accruing interest)




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                               CONCLUSION


It is a very simple process to have your property managed by the professional
management team at L J Hooker.

•   Sign the Authority to Act and leave the rest to us!

Immediately we receive the signed authority we will undertake the following:

•   Inspect the property and complete a condition & risk report. A copy of which
    will be forwarded to you.
•   Any items that require attention will be brought to your attention.
    Arrangements can be made for repairs as required, either by contacting your
    Body Corporate, or your specified tradesman or we do have a team of
    tradesmen we use regularly or perhaps even yourself should you choose to do
    so.
•   Ascertain where your tenant is paid to or locate a suitable tenant if your
    property is unoccupied.
•   Have security deposit forwarded or paid to us and it will be held in our Escrow
    account.
•   Arrange for copies of lease/tenancy documentation to be held on our file.



Then you can relax. It really is that simple!




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