Property Management

There's only one way and that's the right way.
With the Principal going to every tenancy inspection of your property and with the knowledge and expertise, you can be assured your property is in great hands.

 

Why should I use MySpace Property Management to manage my home?

 While the reasons our clients choose our services vary, here are some of the key reasons many people elect professional management over self-management:

 

**We handle maintenance and emergency repairs, allowing you to sleep at night.

**We enforce collection of rents and serve the proper notices upon failure to pay.

**We understand and apply the correct federal, state, and local laws, keeping you and your investment out of trouble.

**We know the local market, have an extensive network of contacts, and have advertising resources available to us at discounted rates. This allows us to effectively market your vacant home to prospective residents to get it filled.

**After you add up the increased rent we can often command, the discounts you'll receive on advertising, and the company rate we get on repairs, you'll often make more money than if you managed the property yourself!

 

How do you determine the rental amount?

Rent amounts are determined by finding the "fair market" rent value of comparative properties in the neighborhood.  We do extensive research using local newspaper, internet, other property management companies and our own expertise to provide the rental rate recommendation to you.  It is our opinion that it is best to rent a house right at or slightly below the fair market rent, by doing so we will frequently have more applications to consider and rent the property quicker.

 

How long will it take to rent my property?

It is impossible to predict exactly how long it will take to find qualified applicants for your property but a correctly advertised, priced and presented property greatly increases the chance it will rent in the first 2-3 weeks with a goal of no more than 30 days on the market.  A number of factors are involved including the size, location, amenities, overall condition of the property, time of year, and the rental price relative to that of comparable properties in the neighbourhood.  Pricing your property competitively and having your property in the best condition possible are crucial to effective marketing.

 

Why won't my property rent?

There are many factors that may contribute.  Some of the reasons may be that the property is overpriced, lack of amenities, location, does not show well due to; cleanliness, outdated appliances or deferred maintenance, lack of curb appeal including paint, landscaping, neighbours etc. In addition, the time of year your property becomes vacant may contribute to a longer vacancy, less people tend to move during the winter months.

 

Is there anything that needs to be done to make my property rent ready?

The better condition a property is in, the faster it will rent and better quality tenants it will attract.  If needed we recommend that the interior be painted or at least touched up, that the carpets, window coverings, floors, fixtures and appliances are clean and that all needed repairs be made, front and back yards mowed, trimmed, edged and free of weeds.  After price, the most important controllable factor in renting a property is condition. We would be happy to offer suggestions to you to help you make the property look great.  MySpace Real Estate is a full service and provide all the vendors needed to get your property rent ready.

 

How do you market vacant properties?

 **The property is displayed on realestate.com.au as a feature listing, domain, and myspacerealestate.com.au

 **We will place an attractive "For Rent" sign at the property. 

 **We constantly get referrals from current and former owners and tenants with friends, family, neighbors looking to rent property.

 **If the Lessor has any specific advertising approach or would like to discuss options, we are happy to accommodate them.

 

Should I accept pets?

The majority of prospective tenants have pets and having a no pet policy greatly reduces the pool of qualified tenants to select from.  It is up to you to allow or not to allow pets on your property, but our standard policy is that pets are acceptable depending on the property, pet size and type, and landlord references regarding the pet.  We require prospective tenants to provide us with a current photo of the pet.

 

How are maintenance requests handled?

The tenants are asked to contact our office whenever they have maintenance or repairs issues.  We have developed certain guidelines to alleviate your stress and to aid in the expedient service for your tenant.  For any legitimate, non-cosmetic maintenance request that will cost less than $200.00 (unless otherwise specified in the management contract), we will contract the work without contacting the owner. Any questionable or cosmetic items or repair costs that exceed our agreed on amount will be handled with the owner's consent.  If we find that a repair is due to tenant negligence, misuse, abuse, etc... we will automatically bill the tenant.  If we have a health, safety or any other emergency situation, the $200.00 limit will not apply.  Many times we are able to solve problems right over the phone avoiding what might have been an additional expense.  For a list of vendors we regularly use please contact our office.

 

Do you provide me with a report of activity on my property?

Yes, a comprehensive and easy to read accounting report detailing all income and expenses will be sent to you each month along with a copy of any repair, maintenance, utility or other billing.  In addition a year end statement is prepared for you for your tax records.