Bellarine Property

Welcome


Welcome

Thank you for considering Bellarine Property for your property letting and management needs.

Our experience in the industry has given us a clear understanding of investor needs and the specific property goals of our clients in the letting and management of their properties.

This webbook will navigate our journey with you towards a smooth transition to bring your property into our care. 

Once you choose us to be your agent, we will keep you fully informed through every step of the process to achieve an excellent result in the active market. We look forward to your response and your decision to activate our services in the near future.


What Landlords Want


From our long association with Owners of residential real estate we have gained a clear insight into what they are looking for from their Property Management Agent.

Initially, they may start thinking they want the highest rent and lowest fees. However, on true reflection their prioritised list would more likely look something like this: 

  • Protection of the property - not harmed by the tenant, kept safe and secure, repairs carried out to prevent damage, correct insurance;
  • Fair and reliable income - market rent, no arrears, short vacancy, rental increases in the future, suggestions for cost effective improvements;
  • Confidence - that they can trust their assets are being looked after, great two-way communication resulting in a feeling of confidence;
  • A happy tenant - knowing that the tenant appreciates living in your property and is being treated with respect by your agent; 
  • Value for money - fair fees, fair tradespeople costs, regular rent increases, a feeling that your investment is managed as though it was owned by the agent; 

To deliver these results, there are many things the Agent must get right. Some of them are very important. Most problems in property management begin with selection of a poor tenant. We focus on finding a good tenant, preparing a comprehensive initial condition report, conducting regular inspections of the property, being vigilant about arrears, proactive with repairs and reviewing rent at regular intervals. Also, all of the time initiating useful communication with the Owners and Tenants and returning calls promptly. 

 


Your Team


Your Team

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Pricing Your Investment Return


Ultimately we will be guided by your instructions and in order for you to make an informed decision we will provide you with current stock levels, vacancy rates and median rents in the area These are the factors that will affect the performance of your property on the open market.

Our pricing strategy is our honest assessment of the rental price of your property and marks the beginning of our transparent process. You can be sure, based on the research provided to you, that any change in the above strategy can only ever reflect a change in the market place, which we cannot control.

If you have received a higher quote from another agent, please let us know so that we can discuss this with you. Where it is supported by relevant evidence, we would be more than happy to revise our strategy so that you can still receive the benefit of the Bellarine Property management difference and our unique benefits to landlords.

Sometimes it can be tempting to take up the prospect of a higher quoted rental price, however, we must ensure that a higher price can be delivered. Our experience shows us that properties listed too high are simply ignored by quality tenants. Sadly, where the first push to market overshoots available tenants in the marketplace, it can often lead to a reduction in price and a rental price well below what the property may have achieved if the initial pricing was accurate to encourage spirited competition among quality tenants for your property.


Payouts & Statements - Your Money, Your Choice


Owner Payments

At Bellarine Property we understand that a steady and timely flow of rental income is important. 

Funds will be paid by direct transfer to your nominated account.

Simple Payments

We believe in making your life easier, so we provide an easy-to-read monthly statement outlining your income and expenses for the period, directly to your email inbox.

At the end of each financial year you will receive an easy-to-read annual statement summarising your income and expenses for the financial year. Just take it with you when you go to see your tax agent. Simple!

Online Information

At Bellarine Property we are always looking for ways to use modern technology to improve the service we provide to valued clients. We have recently introduced a new innovation to provide you with secure 24-hours, 7 days a week access to view your property details, including monthly and annual statements, owner income/expenditure reports, routine inspections, current paid-to dates and more.


Arrears Management - Ensuring your Income


Our approach to protecting your income goes beyond simply collecting rent on your behalf. At Bellarine Property we understand that our landlord clients are often relying on the timely receipt of rent for other financial commitments and that late payment or default on the part of a tenant could create significant inconvenience or consequences. For this reason, we treat rental arrears with a high degree of importance and urgency.

Systemised rent collection via Direct Debit

A key strategy in minimising the incidence of arrears is the use of direct debit as our preferred method of collecting rent. This automated process collects rent directly from the tenant’s bank account in a regular, systemised manner and also allows us to quickly identify any failure in payment.

Strict Arrears Management Procedures

At Bellarine Property we follow a strict procedure in the event of a tenant falling behind in rent, a procedure designed to be both professional and pro-active so as to resolve the issue as swiftly as possible in a firm but courteous fashion. In the event of tenant falling behind in rent, we will:

After 1 day - We will send the tenant a friendly reminder they are overdue with their rent.

After 3 days - Contact the tenant via telephone to provide a reminder that their rent is overdue and request immediate payment.

After 7 days - Contact you to advise you the tenants have fallen 7 days behind in their rent and to reassure you we are 100% aware and follwoing our legal process to receive the rent from the tenant prior to any further action being taken;

After 10 days - Contact the tenant via telephone to follow up, making the tenant aware that they may face a Notice to Vacate for their tenancy after 14 days should they fail to rectify the arrears.

After 15 days - Contact you, the owner, for permission to issue a Notice to Vacate to the tenant. With your permission, we will issue a Notice to Vacate. Please be aware that by law, the tenant still has the right to continue their lease by rectifying the arrears prior to the termination date. In the event of their failure to do so, further action will be enforced by us within the guidelines of Residential Tenancies ACT and this may involve VCAT.


Rental Reviews - Up to date Rent Return


To protect the owners investment, it is critical to keep the rental in line with the current market through regular rental reviews. Some owners fear that this process can cause them to lose good tenants. This is not the case.

Why Do Tenants Leave?

Good tenants invariably leave a rental property due to;

  • Relationships - they move in together or they move away from each other
  • Proximity - they move closer to work/family - another suburb, another city, another country
  • Accommodation - they now need more space or less space

They don’t leave because the rent is being maintained at ‘fair market’ They don’t stay just because the rent is ‘below market’

Rental Reviews

Over time, rental values historically tend to gradually climb. During periods of high demand, this increase in rental values can be more rapid. It is important therefore to review rents often and keep existing tenancies in line with the rising market. Steadily increasing your rent at yearly intervals to maintain an up to date market rental:

• Maximises your return

• Avoids the need for sudden, large increases which can cause tenants to move out

• Protects the sale value of your property should you decide to sell. Investors look closely at the rental being achieved by the property as a guide to its likely future return

Rent reviews are conducted regularly as part of our routine inspection process, occurring twice per year. Each time your property is inspected a review of the current market rental is also supplied. This doesn’t mean rent is adjusted as frequently as this. We simply actively review how the rent being paid for each property compares to equivalent properties in the current market. Typically rental increases are undertaken annually to keep pace with the market while maintaining positive relationships with quality tenants.

We never change rent without consultation with the Owner.


What is Depreciation?


Tax Depreciation of residential investment properties is a significant potential value that is often left untapped by the majority of investors. This is because its value is not fully appreciated or understood by most investors, real estate agents and accountants. Actually, it is one of the few things in life that sounds too good to be true, but is true.

What is tax depreciation?

As a building gets older and items within it wear out, they depreciate in value. The Australian Tax Office (ATO) allows owners of income producing property to claim a tax deduction called depreciation, on a building’s structure and plant and equipment assets contained within it.

How do property owners claim depreciation?

All the assets are included in a schedule - a description of the asset, type of asset (Plant & Equipment or Capital Works), its original value and date of assessment. They are allocated a depreciation method (diminishing value or a fixed percentage) and a depreciation rate (a higher rate for short-life assets and a lower rate for long-life assets).

The calculations produce three summary figures, the starting value of all the assets, the depreciation amount for that financial year and the remaining un-deducted value to be used for next year’s calculation. The depreciation amount for the financial year is deducted from the income for the year, reducing the tax payable by the owner. This is often a substantial amount of money and invariably considerably exceeds the cost of preparing the depreciation schedule.

Who can prepare a Depreciation Schedule and why you shouldn’t DIY?

Only people authorised by the ATO may produce comprehensive depreciation reports. Many owners and accountants will look to depreciate some obvious plant and equipment, such as a renovation or new carpet or a stove etc. What they don’t realise, is that they could also be claiming a multitude of other items - the capital cost of the building, the carpet and light fittings etc that were there when they bought it and even a percentage of the common property. The completed report looks quite complicated, but summarises everything down to a couple of figures that are entered into the tax return each year. The report produces savings for 40 years. 

A common reaction we find from investors is that they wish they had known about it before. We can’t wind back the clock, but the report will provide you with the ability to re-coup unclaimed or missed tax benefits for up to two years.

When renovating, it’s sad to be tossing out an old kitchen, air-conditioner, vanity or carpet. The good news is that all the remaining un-deducted depreciation value of the items can be claimed in that year (scrapping), so it’s best to get a report before renovating, not after. Effectively, you claim all the old and the first year of new at the same time.


Investment Reports


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Management Fee Structure


At Bellarine Property we pride ourselves on approaching Property Management from an investors stand point first and foremost. As such, our complete cost of management fees can be calculated in full and in advance with no hidden costs.

Our Costings Are All Inclusive & Include::

  • Our Management Rate we will discuss is Inclusive of GST
  • We charge a Letting Fee and we will explain this in detail 
  • Free Premiere Property Listing on Realestate.com.au - No Cost  
  • Lease Re-negotiations - No Cost
  • ​Statements (Including EOFY) - No Cost
  • Tribunal Costs - No Cost
  • Routine, Entry & Exit Condition Inspections - No Cost
  • Routine Inspections - No Cost

Properties For Lease


Inside this link are the properties we currently have For Lease around the Bellarine Peninsula. This is the webbook we send to potential tenants when we list a property for rent. Your property will appear in this webbook and be seen by many potential tenants should you list your proeprty with us. Due to this fast method of communication, our vacancy rates and speed of letting out can be reduced.


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