Why O’Neil Real Estate?
We appreciate that many owners rely on regular rental income to meet mortgage commitments and so we developed a detailed and timely marketing strategy to minimise vacancy periods.
Did you know that each week your property is vacant, your annual rental return will be reduced by approximately 2%?
Our Property Managers maintain weekly communication with all owners whose property is vacant in order to keep them informed of feedback from prospective tenants.
The length of the vacancy period can be attributed to three key factors:
The market ultimately determines what a property will rent for. For this reason, it is important that the property is listed at a price which is in keeping with current rental values. An overpriced property is not only likely to attract reduced interest, but may also attract the wrong calibre of tenants. In our experience, quality tenants have a good understanding of the current market conditions and will only make an application for properties which are appropriately priced. Our experienced staff will provide you with an accurate value of your property supported by current market evidence.
First impressions do count and the way in which your property is presented will have an impact on the vacancy period, rental value achieved and the quality of the tenant(s).
It is our practice that prospective tenants should not be shown a property unless it is presented at the standard at which they will be expected to maintain it. This sets the benchmark from the very beginning and reduces the likelihood of disputes during and at the end of the tenancy.
In order to attract the highest quality and most suitable tenants for your property it must be widely and extensively marketed to generate maximum exposure. With 8 out of 10 people using real estate internet portals to search for properties, quality internet advertising is an essential part of the advertising campaign. Our agency subscribes to the industry’s best online real estate portals including realestate.com.au, domain.com.au, reiwa.com.au and rent.com.au in addition to our own high profile website. The use of professional photography ensures that your property is shown in it’s best possible light.
When you list your property for rent with O’Neil Real Estate, you can expect the full marketing campaign to be implemented within 2 business days. This includes photography, internet advertising, prominent signage and inclusion on our agency rental list.
We believe that the key to successful property management depends largely upon selecting the right tenant for your property. Consequently, our tenancy screening process is one of the most thorough in the industry. As part of this process, we utilise two major tenancy databases, stringent reference checks and a comprehensive application process which includes face-to-face meetings.
All maintenance items are referred to you for approval and carried out in accordance with your instructions.
We work hard to ensure that the tradespeople used by our office meet a high standard, are licensed and have public liability insurance to protect you and your investment. Due to the volume of work we arrange on behalf of our client base, we are often in a position to negotiate a great price with our regular tradespeople.
For those times when we are unable to contact you, we usually request authorisation to spend up to $500 on essential maintenance. However, you can be assured that prior to using this authorisation, every attempt will be made to contact you.
In certain circumstances the Residential Tenancies Act grants the tenant the right to arrange emergency repairs. It is our preference that, also in these circumstances, one of our recommended contractors attends the property to carry out these emergency repairs. For this reason, each tenant is provided with an emergency plan showing contact details for our recommended contractors.
Ensuring that your tenant pays their rent on time is a critical aspect of our management service. Careful tenant selection, and our strict rent arrears process allows us to boast an exceptionally low level of tenant rent arrears across our entire property management portfolio.
In accordance with company policy, rental payments are checked and reconciled on a daily basis and tenants who fail to pay rent within 3 days of the due date will be issued a Notice of Termination (in accordance with the Residential Tenancies Act). You will be notified of this in writing and updated once the arrears have been remedied. If a rent payment remains unpaid, we will make application to the Magistrates Court for termination of the tenancy.
Our role is to maximise your return and minimise your hassles.
As your Property Manager we have a duty of care to ensure you are aware of risks that you may be exposed to with your rental property. We strongly recommend that you take out Landlord Protection Insurance in addition to the standard home and contents policies you are likely to be familiar with. Landlord Insurance provides additional cover for many of the risks and potential loss that investors face, including Rent Default, Malicious or Accidental Damage and Tenant Hardship.
While there is an abundance of Landlord Protection Insurance policies available today, not all of them will be able to provide you with the features you require. Please speak with one of our Property Management staff if you would like further information about Landlord Protection Insurance.
For further information, please ask for a brochure from one of our Property Management staff.
Our property management team regularly carries out property inspections on behalf of all owners. During these inspections we conduct a general check of both the internal and external condition of the property, after which a written report is provided to the owner outlining our findings.
If the inspection finds that there are repairs or maintenance required at the property, it is important that this is rectified immediately, as a lack of maintenance hinders the capital growth of your property and may potentially lead to an injury claim. In the event that the tenant has damaged the property or failed to fulfil their obligations under the lease, they will be issued with a Breach Notice requiring them to repair the damage or rectify the default. A follow up inspection will also be scheduled for 14 days later to ensure compliance with the Breach Notice. In these circumstances you will be notified immediately.
You can also be confident that a detailed final inspection is carried out after the tenant has vacated and before any bond monies are released. We aim to ensure that when a tenant vacates the property, there are no surprises. While some tenants may feel we are overly particular, we are serious about looking after your property and maintaining its value. We carefully check the premises against the original Property Condition Report and supporting photography to ensure that the tenant has left the property in the same condition, taking into account reasonable wear and tear, as per legislative requirements.
We aim to provide a faster, more efficient and more reliable service. To aid us in this, we utilise the country’s most advanced trust accounting software as well as flexible electronic payment solutions, iPad inspection software and personalised owner internet portals giving owners access to their information 24 hours a day, 7 days a week.
Our team maintains peak performance through continuing professional development with industry leading consultants, regular internal training and a comprehensive procedural system streamlining the daily workings of the department. O’Neil Real Estate is known as an agency that leads rather than follows, integrating modern techniques and technologies while maintaining our traditional values and integrity.
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