What is the REIV?
The Real Estate Institute of Victoria (REIV) has been the peak professional association for the Victorian real estate industry since 1936 of which we are a proud member.
There are numerous benefits of using an REIV Member to manage your investment property, however most importantly being a member of the REIV ensures a commitment to the highest professional and ethical standards. As Members of the Real Estate Institute of Victoria Ltd (REIV), we will:
- be ethical, honest and fair to all
- deliver professional service
- adhere to industry best practice standards
- participate in on-going and regular professional development
- ensure that information we provide is current, accurate, relevant and complies with the law
You have the security of dealing with a company that is abreast of changing trends, markets and regulatory requirements and ensures a commitment to the highest professional and ethical standards.
How long has iPM been a member of the REIV?
Paul Denver the Director and Office in Charge has been a full licensed member of the REIV for over 30 years.
How do I move my property to iPM?
Whether you have just purchased a property, are managing your property yourself, or another agent is currently managing your property, making the move to iPM is easy.
Do you have your property managed by another agency?
We aim to make the process as simple as possible and we will do all of the work. Simply contact our office and we will provide you with a management agreement form and a transfer of management letter. We will then forward the transfer of management letter to your current managing agent. We will collect the file, notify you and your tenants and you can rest assured knowing you are now in safe hands.
If you would like to discuss transferring your property to us. Visit the contact us page or call Paul Denver on 0419 582 715
Are you managing your property yourself?
If so, all you need to do is call us on 0419 582 715 so that we can have a confidential, obligation free discussion about your needs. We are constantly monitoring rental market trends, and it is this intrinsic knowledge that enables us to gain the most potential from your investment.
Have you just purchased an investment property?
We are more than happy to discuss our service with you and explain how we can assist you with your property asset. Should you require a rental appraisal and rental appraisal or would just like to learn more about the property management process and our service, then contact us on 0419 582 715.
How do I change agents?
Changing agents is easy, we’ve made the process as simple as possible and we will do all of the work. Simply contact our office and we will provide you with a management agreement form and a transfer of management letter. We will then forward the transfer of management letter to your current managing agent. We will collect the file, notify you and your tenants and you can rest assured knowing you are now in safe hands.
If you would like to discuss transferring your property to us. Visit the contact us page or call Paul Denver on 0419 582 715
How will you find a tenant for my property?
Firstly, your property will be promoted extensively online on our website and all major real estate portals including: realestate.com.au, domain.com.au, realestateview.com.au, rent.com.au and homely.com.au. This makes it easy for prospective tenants to find your property and apply for residence.
We will then organise, advertise and conduct routine open for inspections to facilitate all levels of interest in the property, in order to find a suitable tenant in the shortest amount of time possible.
What is the Tenant selection process?
After receiving an application from a tenant, we perform the following checks:
- National tenancy history check
- Income check
- Confirmation of previous rental history
- Previous rental conditions and rental payments
- Employment check
- Database checks
- Personal reference checks
- Personal and business checks
Once we have processed an application a summary of the tenant’s eligibility will be provided to you. If you choose to accept the tenant’s application, we will prepare all leasing documentation to ensure a smooth and easy transition.
How do you assess the rental amount?
When assessing the market rental value of your property, we will analyse the following factors to ensure the best possible outcome for you:
- Condition
- Location
- Number and size of the bedrooms
- Air-conditioning
- Views
- Market factors
- Supply/demand
- Unfurnished, partly furnished or fully furnished
- Local amenities
Establishing the right rental price will attract quality tenants while maximising your yield as a landlord. We will then discuss our professional analysis with you to decide on an appropriate rental price together.
When do you inspect the property?
Every 6 months we conduct routine inspections to confirm that the property is being properly maintained, and to report any maintenance recommendations to you (the owner). Any required repairs will be photographed and included in the report.
The inspection will examine:
- Carpets and other flooring
- Light switches and light fittings
- Kitchen – oven and stove top
- Windows and screens
- Walls, doorways and doors
- Shower, bathroom, toilet and laundry
- Lawns and gardens
What happens if a tenant doesn’t pay rent?
Once a tenant has begun to transfer rental payments, we will organise the collection of rent and the distribution of creditor payments.
Our automatic system provides daily monitoring of tenant debts and other financial information. If a payment is overdue we launch an inquiry into the tenants’ arrears that includes the following process:
Day 3 – We will contact the tenant(s) via phone, email and SMS.
Day 5 – A courtesy follow up.
Day 7 – If rent has still not been paid, a formal ‘Notice to Remedy Breach’ is issued, notifying the tenants that they have seven days to transfer their outstanding rental payments in full.
Day 15 – If the tenant(s) have still not paid within this time period, a ‘Notice to Vacate’ will be sent to the tenant(s), followed by an application to VCAT for a formal hearing.
Throughout this process we will inform you of any measures we take, and will not issue a ‘Notice to Vacate’ without discussing the circumstances with you first.
What happens with the bond?
The following criteria must be met to ensure the full refund of the bond at the end of tenancy:
- Property – The property has been cleaned, the grounds have been returned to their in-going conditions and the carpets have been professionally cleaned.
- Rent – All outstanding rent is paid.
- Outstanding Accounts – Any outstanding payments, for damages, break lease fees or compensation amounts are paid.
- Keys – All keys, remote controls or other devices used to gain access to the property are returned.
Once these conditions have been met, the bond will be returned in full.
Do I need Landlord insurance?
It is not compulsory to have landlord insurance on your property, however we strongly recommend it.
Landlord insurance protects you in the event of a tenant:
- not paying rent
- departing the property early
- damaging the property.
It also includes public liability and limited cover for contents e.g. floor coverings, curtains.
What happens with tenant maintenance requests?
Requests for maintenance will be responded to as soon as possible, whilst ensuring the property owners, the tenants and tradespeople are fully informed of the necessary repairs. All details will be included within the annual financial report we provide for your investment property.
What happens with urgent repairs?
We follow the guidelines in the “Renting a Home – a guide for tenants & landlords” the link was provided within the electronic lease.
This outlines that the following items constitute ‘urgent’ repair:
- burst water service
- blocked or broken lavatory system
- serious roof leaks
- gas leaks
- dangerous electrical faults
- serious storm, fire or flood damage.
Important note: If the call-out is considered non-urgent, the tenant will have to pay the additional cost associated with an after hours repair.
If the call-out repair is identified as caused by the tenant, the tenant will be required to pay the cost of repair.
What happens at the end of the lease?
We will send the tenant/s an invitation to renew the lease provided you (the landlord) is happy to continue the tenancy.
How do I access my property reports?
We provide you, the property owner, with a ‘Landlord login’ to our system so that you can view all reports and statement at your convenience 24/7.
