owner welcome IIAO5OWW-V2© PAGE 2 contents at your service...making property investing enriching...... 2 welcome...... 2 at your service...... 2 Rental rate and market effects...... 2 The temptation and risk for over inflated rental rates...... 3 GEMS (gorgeous evoking marketing subtleties)...... 4 Marketing and advertising...... 4 safety and compliance first and foremost...... 4 Smoke alarms and safety switches...... 4 Property preparation...... 5 Pets – the big question...... 7 Access...... 7 Water...... 8 SHOW (selling homes obscured wonders)...... 8 Gardens and pools...... 9 Annual property maintenance...... 9 assuring you secure the most appropriate tenant and tenancy term...... 10 skilled tenancy negotiation specialists...... 10 initial property condition...... 11 home is where the heart is...... 11 income security protection...... 12 Rental payments and bonds...... 12 Rental arrears and arrears control...... 12 transfers and statements...... 13 recurring routine property assessments...... 14 prompt, reliable maintenance, repairs and refurbishment...... 15 changes during a tenancy...... 16 changes to a shared tenancy...... 16 tenant moving out prior to end of tenancy...... 17 tenancy expiry...... 17 finalizing a tenancy...... 18 maximizing your returns by minimizing vacancy periods...... 18 facilitation...... 19 accessibility...... 19 at your service...... 20

IIAO5OWW-V2© PAGE 3 e at your service...making property investing m

o enriching c l e

w welcome Welcome to Business Name. Please accept our sincerest thanks for trusting us with the management and protection of your property by appointing us as your Leasing and Property Management Consultant. We appreciate your business and assure you of our commitment to ensure your experience with us is enriching.

at your service With our commitment to assist you in gaining the optimal returns, growth and of course fulfillment from owning rental property, we have put together this practical renting guide. This guide acts as a general overview and manual for you to refer to when you find necessary. Naturally, if you have any questions we are always here to help and work with you in a consultative manner every step of the way. Please be assured that we truly are at your service.

Rental rate and market effects Appraising your property is often the first task that we will perform as your Leasing and Property Management Consultant. When we make recommendations on the rental rate, we take into consideration the various features of the property, location and proximity to infrastructure and local market demographics. This is all prepared on our DEMO (Demographic Evaluation Market Overview) report. This report provides us with a simple yet effective method to make comparisons and calculations to ensure we set your property’s rental rate at the most appropriate level for the particular market conditions. It is important to understand that this estimation is based on the current market conditions, and not any one person’s opinion or expectations.

Once we have agreed on the appropriate rental rate we will continue to monitor this as conditions may change in the marketplace such as the number of comparable properties that may become available, level of enquiry and economic influencers. Should adjustment become necessary we will always consult with you.

Please be assured that our goals are aligned with yours. We seek to secure suitable tenants for the best possible term at the best possible rate with as minimal vacancy period as possible.

Finally, in agreeing upon the rental rate, it is always beneficial to remain flexible and understand your local area market conditions and the effect it will have on your rental return. It is far better to accept a lower rate of return than to overprice the property and leave the property vacant for extended periods of time. A quick calculation will reveal the ‘real’ lost income should a property remain overpriced and vacant, even if in the end you do eventually receive the rental you were hoping for.

The temptation and risk for over inflated rental rates It is natural to want the highest rental price for your investment property, and the temptation is to set an inflated “wish” rental rate when the property is listed or when the tenant vacates. There are, however, risks and substantial income losses when the rental rate is over inflated for the current market conditions and it is well worth considering these risks.

As your Leasing and Property Management Consultant we are rewarded commensurately on the rental return on the property. Therefore, we also aim for the best possible return. Without the correct tools we could easily over inflate the advertised rental rate in our eagerness to please you and achieve your expectations. However, please be assured that due to our own experience, expertise, knowledge and ongoing research of the local market, we will achieve the highest possible return for your property. Please also note that whilst you may observe

IIAO5OWW-V2© PAGE 4 properties that appear to be comparable to your property advertised at a much higher rental rate, this is usually as a result of an owner’s unrealistic expectations and their agent’s eagerness to gain the listing. In such instances, the property will remain vacant for an extended period of time, be rented at a far more reduced rate to the advertised rate, be rented to tenants who have not been vetted correctly and the term is usually minimal. The property owner and agent then have to go through the whole process again in a few short months.

The risks of over inflated advertised rental rates are:  Lack of interest and enquiry  Property unnecessarily remains vacant  Security risks when property is unoccupied  When tenants are eventually secured at the listed rate, there is loss of rental income over vacancy period. The loss would be minimal if the property was set at market rate initially  It is unlikely that the property will rent at an over inflated rate so will eventually be reduced to generate interest and inquiry  It is not worth even 2 weeks risk to advertise at an over inflated rental rate e.g. rental rate at $500 per week vacant for two weeks equals loss of $1000. Market rental rate should have been $480 per week. Rented immediately. Loss of $40. $20 per difference over 52 weeks is equal to $1040. Even at only 2 weeks vacancy the loss is almost equal to what the return is for a year at the correct market rental rate. Should the property remain vacant for 3 weeks or more the loss is extremely significant

Numerous property owners feel that they should list their property rental rate at an over inflated price to leave some ‘fat’ for negotiation. Whilst some applicants will endeavor to negotiate and make an offer or even request some extras, it is our skills as trained negotiators that will ensure you gain the most appropriate tenant and the best possible rental return for the best possible tenancy term. That is why it is so important to set the right rental rate for the current market and ensure that interest, enquiry and application are achieved.

GEMS (gorgeous evoking marketing subtleties) When we initially appraise your property, we sit down with you or whoever may be living in the property at that time and ask what they have found to be special about the property or special about living in the property. These are the property’s hidden and intangible treasures that you only get to know when you have lived there. These make the property special, unique and add to the property’s charisma and appeal. We call these our GEMS. We continue adding to this list by asking each tenant what they found special about the property upon vacating.

Marketing and advertising At the time of appraisal and management appointment, the Leasing and Property Management Consultant will discuss your marketing and advertising. They have been trained to understand the local market and current trends. They will plan a marketing campaign that best suits your property, typical tenant profile and demographic and take into consideration the current market. When the tenants vacate, every subsequent marketing campaign could be quite different. That is why it is important to understand the current prevailing conditions to create a targeted marketing campaign taking into consideration all influential factors. We do not recommend the typical blanket and blast advertising of the past.

safety and compliance first and foremost Before the tenancy commences you must ensure your property is safe, compliant and protects you and the tenants from accident, injury or death order. We provided you with a checklist ‘Property Preparation – Compliance and Safety Verification’ that you must complete, sign and return to us prior to the property being shown to prospective applicants and potential tenants. If your property is not fully compliant you are at risk of being in breach of the law and not covered by your insurer, or worse, still being responsible for harm or death being inflicted upon the occupants or their guests.

IIAO5OWW-V2© PAGE 5 Smoke alarms and safety switches As the property owner, it is your responsibility to ensure smoke alarms and safety switches are fitted and in working order in accordance with local laws and regulations. There are serious ramifications and dangers if these laws are not stringently upheld by all parties. We ensure that both property owner and tenant understand and undertake regular and regulated care and maintenance by insisting both parties sign a form acknowledging their responsibilities. All smoke alarm and safety switch care and maintenance must also be carried out by an appropriately trained and certified smoke alarm technician.

Property preparation It is vital to ensure that your property is ready to SHOW to its highest possible potential. Therefore, all preparation must be completed prior to the commencement of the marketing campaign. After all, we don’t want to turn away or put off potential tenants. In order for us to help you, we ask that you help us in ensuring all discussed tasks and forms are completed and forwarded as requested.

We expect all vacating tenants to hire the services of professional cleaners and carpet steam cleaners. We also expect them to carry out pest control at the end of their tenancy. However, this is on top of the pest control that must be carried out annually on the property by the property owner. Therefore, we strongly recommend you also engage the services of professionals to clean and carry out pest control regardless of the circumstances for availability. This is if you are vacating your own property, have a property of which we are taking over the management, or if this is a newly acquired investment property.

As the property owner we respectfully ask you to ensure:  The property is fit to live in and in a good state of clean and repair  The property complies with all laws in relation to health and safety issues  The property is available for a tenant to move in on the date as agreed in the tenancy agreement  The property is fully secure and each tenant has a key for each lock for full access to all areas as agreed  Each tenant is supplied with a remote control for any areas accessed by remote control  The agency is supplied with a full set of management keys and remote controls  You do not interfere with the tenants reasonable peace and privacy  You agree to maintain the property and inclusions in good repair as requested and reported  You understand that you must not enter the property unless notice has been given to the tenants  To comply with the terms and conditions of the Management Agreement  To comply with the Agency’s policies, procedures and standards

As an added bonus we have also provided you with a helpful guide that takes you through each area of your property. This guide is titled ‘Would you rent your property?’ and is designed to help you see your property through the eyes of a prospective tenant. Acting as ‘go between’ we have found that many owners quite often overlook areas of their property they deem as acceptable because they have become use to it. However, it is important to understand that when a tenant is paying for the use of your property, their expectations are also that all maintenance and repairs are attended to immediately. In the end, this benefits the owners, tenants and of course the property by ensuring its value and return is preserved.

As tenants become more market savvy and the as they are educated of theirs, the owners’ and the agents’ rights, responsibilities and expectations, tenants will naturally become more discerning. They will and have every right to demand optimum levels of service, care and respect, just as the property owner does. This is good news for property owners as their properties will no longer suffer the neglect that has long been experienced. Owners can now, in return for their care and diligence in maintaining their property, expect that same level of care and diligence from their tenants. ireviloution intelligence has created client service standards never before seen in this industry in just another demonstration of how we have conquered new frontiers. These standards foster mutual care, respect and appreciation as our team ensures

IIAO5OWW-V2© PAGE 6 you, the tenant and your property receive a purely Purple experience. It’s our way of ensuring we always protect, preserve and persist.

To ensure your property is appealing to your market area, it is important to understand the profile and demographic of the dwellers that choose to live in your area. Your Leasing and Property Management Consultant will discuss these details with you to ensure your property is placed as perfectly as possible for your area.

Naturally, there are some common factors that tenants look for when searching for their next home to rent. These factors are:  Clean, bright and fresh interior with open space living  Cooling and heating dependent on climatic location  Built-in closets in bedrooms  Clean modern kitchen with modern appliances and ample cupboard and bench space  Clean, modern bathroom with bath with ample storage bench space  Ensuite accessed from main bedroom  Security  Welcoming outdoor living space or balcony  Secure car parking (if house – lockup garage with internal access and remote control entry)  Eye-catching streetscape appeal  Fully maintained or low maintenance garden and yard  Lock-up room/area for storage (basement and/or attic)  Accessibility to public transport and major road link roads  Accessibility to shopping centers, schools and community facilities  An overall feeling of being cared for and maintained

Whilst this list is certainly not extensive, it’s a small sample of how to ensure your property stands out from your competitors. The key is to make your home feel like a home. If the property looks cared for and loved it will attract tenants who will also care for and love it as their own home.

Pets – the big question The question on many property owners’ minds is whether or not to allow pets into their property. To answer this question it is first important to understand the profile and demographic of your local market. Your Leasing and Property Management Consultant will discuss this information with you. If, for example 85% of the inhabitants in your property’s market area have pets, you being against pets will automatically exclude 85% of prospective tenants from applying for your property. Know your area and your inhabitants before you make such a critical decision and always remain flexible in this decision.

Many tenants with pets have rented property before. Therefore, when they apply for the property one of our team members will contact previous agents to seek out information on how the tenants looked after their pet and the pet’s behavior whilst at the property. It is also important to remember that your agreement with the tenant protects you should any damage occur as a result of the pet (or anything else caused by the tenant) in that the tenant is responsible for repair and rectification.

Access Immediately upon listing the property we will require at least three (3) full sets of keys and remote controls wherever necessary. One set will be our management keys to ensure access for ongoing inspection, maintenance and whenever access is required and two sets will be for the tenants. Please be aware that extra sets may be required if there are more than two tenants who are signatories and holders of the Tenancy Agreement. If extra sets are required, one of our team will arrange key copying and the charges will be deducted from the next rental statement period. If extra remotes or security keys are required we may require authorization from you or for you to organize copies through your security company.

IIAO5OWW-V2© PAGE 7 All keys that you provide will be photocopied and filed with your relevant documents as proof of keys handed over at the time of appointment. We also require the tenants to sign for all keys handed to them at the commencement of their tenancy and copy the keys when their tenancy is finalized. The keys are compared from the start of their tenancy to ensure all keys have been returned.

We follow a stringent method of managing the keys by auditing each week to ensure all management keys are present and accounted for.

Water In an effort to limit water wastage and at the same time care for the gardens, we recommend both the property owner and tenant each pay a percentage of the total water usage. This of course depends upon local laws and guidelines in water charging. Where the ruling is silent, inconclusive or ambiguous your consultant will discuss with you a fair and equitable method of water charging that usually depends if there is a garden and its size. Where there is no garden, dependent upon local laws, the tenant may be responsible for 100% of water. In other instances the water could be charged at 40% owner and 60% tenant. This ratio may change from tenancy to tenancy depending on the number of occupants.

When the tenant eventually vacates the property an amount for water will be charged based on the number of days since the last water account to the last day of their tenancy. An average daily water usage calculation is then used to pro-rata the water usage for that period with their agreed percentage and the tenant charge calculated. For example:

100 days x average daily usage of $1 per day = $100 x 60% = $60 charge to tenant.

This ensures the tenant does not waste water and the owner will repair damaged and leaking water pipes immediately. Therefore, this is the fairest method of charging. At the same time, we encourage protection and preservation of our precious water supplies.

SHOW (selling homes obscured wonders) As soon as the property is listed we also create a schedule for showing the property to ensure each enquiry is dealt with personally and with care. We never hand over the address of the property and ask the enquirer to drive by. Instead we ask a detailed list of questions so we can profile and qualify the enquirer to ascertain if they are genuine. After we have profiled and qualified them, we advise them of the open for inspection times and invite them along.

The enquirer is then emailed an application form (or if they have visited the agency they are handed the application form) together with further details of the property including address and inspection time. They are encouraged to pre-prepare their application so that if the property is suitable they can apply immediately. By applying immediately we are able to considerably reduce vacancy period on most occasions, as we are not awaiting applications to be completed and sent to the agency.

On the day of the open for inspection each enquirer is sent a SMS as a gentle reminder of the time and address. It is also our way of saying we are looking forward to seeing them there. When they are at the property we are there to SHOW by selling the homes obscured wonders. That is, we use our list of GEMS to reveal the property’s hidden treasures. We truly do sell your property. Just as a sales agent is important, so is a leasing consultant to selling the lease on your property. We never hand out keys or dismiss any enquiry on a property. We gain valuable insight through these inspections to gauge comments and the body language of prospective applicants and pass this feedback directly back to you. This is helpful information in ensuring the rental rate is comparable with competing properties that are also currently available.

You can also feel safe in the knowledge that your property is secure and protected at all times during the marketing and showing process.

IIAO5OWW-V2© PAGE 8 Gardens and pools It is always in your best interests to maintain your garden and pool and include this in the rental rate. Your Leasing and Property Management Consultant will discuss this with you at the time of appointment. Gardens and pools can be costly when repairs and replacements need to be carried out, so take into consideration the benefits of including upkeep and maintenance.  The gardens and pool will be maintained by a professional to the standard that you instruct them to do  The property will be more appealing to the tenant as it is one less worry. You will attract more rent and a better quality of tenancy  The cost for maintenance and upkeep is in most instances an allowable tax deduction (please check with your Accountant, Financial Controller or Tax Agent)

Annual property maintenance Just as you carry out regular service and maintenance on your vehicle and appliances, so too does your property require regular maintenance.

Your consultant will discuss with you annual maintenance plans depending on the style of your property, for instance, stand alone house, secure complex, apartment or condo. The type of preventative maintenance recommended is:  Professional clean and carpet clean  Minor maintenance (such as tighten door handles, cupboard fittings, etc)  Window clean  Curtain and blind clean  Gutter clean  Pest control  Air conditioning/heating service  Garden trim, tidy and fertilizer  Garage door service

This is just a short list of the annual maintenance recommended. The benefits are enormous for both parties, as the property will maintain its appeal. However, as the owner, a professional will undertake each area of service and should any areas requiring maintenance be uncovered they will contact you to discuss options for repair or replacement. You wouldn’t leave your car with broken or damaged parts, so why leave your property broken and damaged when this is an asset and income generator?

By carrying out regular and planned annual property maintenance you will reduce the risk of minor repairs becoming major replacement and repair expenses. This is also another way to protect and preserve the overall appeal and value of your property and to ensure maximized returns and optimized growth.

assuring you secure the most appropriate tenant and tenancy term Facilitating and guiding the property owner in securing the most appropriate tenant and tenancy term is our number one priority. Prospective tenants are sourced, screened and selected with exceptional diligence through our comprehensive application and processing TrackMates™.

Applicants are required to:  Complete a thorough and comprehensive application form  Provide a statement regarding their rental history  Provide proof of employment ensuring they have the financial means to meet weekly rental as well as standard living commitments  Meet the criteria of the 100 point identification verification  Provide at least two personal references

We undertake detailed rental and employment verifications to ensure tenants have both a reliable rental track record and the financial means to meet all standard living commitments. Our

IIAO5OWW-V2© PAGE 9 approach is thorough, discerning and highly effective. We subscribe to a tenant defaulting database that provides us with the opportunity to verify the applicants have provided accurate and honest information in their application with no gaps in their rental history.

skilled tenancy negotiation specialists After consultation with you regarding the tenancy application, tenancy term, rental rate and any special conditions of the tenancy, we arrange preparation and signing of the Tenancy Agreement. Once accepted, tenants enter into a fixed term tenancy for the agreed period. On expiry of the initial term, you have the option to extend the tenancy for a further agreed fixed term, or adopt a periodic arrangement under the same terms and conditions. However, we recommend that property owners should always maintain fixed term tenancy agreements to protect both their interests and the interests of the tenant. Should the tenant require a shorter term it is far more preferable to sign a fixed tenancy than allow the tenancy to revert to periodic. It is rare that we allow a tenancy to become periodic (that is no fixed end date, just month to month tenancy).

Our Leasing and Property Management Consultant is trained to understand market conditions affecting your tenancy term and achievable rental rate. The team is also trained to understand future conditions that could have negative effects on your achievable rental rate, such as the release of new developments flooding the market. It is paramount to discuss renewal and vacancy rental rate settings with your consultant in securing the best possible outcome for both parties.

You will be advised once an application is received. The application will be processed and you will be advised if the applicant is suitable as an approved tenant. The consultant promptly negotiates and finalizes all Tenancy Agreements on your behalf, handling all tenant liaisons to ensure your best interests are represented.

initial property condition As soon as your property is listed we undertake a thorough and comprehensive inspection of the property. We inspect by going through room by room and detail by detail of every wall, floor, fixture, fitting and appliance. Colors, fabric, style and in fact every detail is listed on the entry condition report. This report then forms the basis for every subsequent inspection that is undertaken on the property regardless of whether it is entry, exit or assessment. Photos are also taken at the time. We refer to this report to ensure there is no damage (negligent, malicious, misuse, natural disaster or normal wear and tear), necessary repair or excessive wear and tear.

If at any time tenants take it upon themselves to, for instance, paint the walls a different color, change the curtains, remove the carpet or change appliances, whoever is inspecting the property at the time is able to recognize instantly that a change has been made to the property. Comparisons can be made from report to report and photo to photo to ensure the property remains the same except for normal permissible and expected wear and tear.

During the initial inspection, if any damage, repairs, gardening or further cleaning is noticed, the consultant will contact you to discuss and seek instructions for arranging rectification to ensure the property is on display to its highest possible potential. This is important in ensuring you secure the best possible tenant, with good intentions, for the best possible term and the best possible rental return in the shortest possible timeframe.

home is where the heart is To help your tenants settle into their new home and to ensure they feel protected, respected and appreciated we provide them with a welcome guide entitled ‘Home is where the heart is...so we’re here to ensure you feel the love’. This is a genuine welcome containing a comprehensive guide on how we expect them to care for, clean and maintain your property, our expectations and standards. It also acts as referral for information on paying rent, property assessment inspections, maintenance reporting and such. We also provide a comprehensive cleaning guide

IIAO5OWW-V2© PAGE 10 for when those unexpected accidents happen that require immediate rectification to ensure no major ramifications are suffered by the property, tenant or of course the property owner.

This is just another demonstration of our commitment to be different and create change by making sure the tenant really does feel at home. This translates to major benefits to the property owner as your tenant is more likely to reside in the property longer than the average tenant. We find that the tenant is more likely to create a homely atmosphere and ambience, whereby they feel naturally attracted to cleaning and maintaining the property to its highest standard. We protect the tenant and property and in turn preserve the continuity and longevity of their tenancy.

income security protection

Rental payments and bonds As part of our policy to protect the owner and their property we insist that all tenants pay a bond, which is equivalent to a minimum of one (1) month rent. In some areas this may be different depending on legislative guidelines and in this instance the bond will be charged at the maximum amount permissible. It is also a policy of this agency that we do not accept Bond Loans, furthermore ensuring our commitment to only approve tenants with the proven capability to fulfill the requirements of their Tenancy Agreement.

The bond will be deposited into an approved trust account or with the relevant governing body dependent upon local legislative requirements. The bond will not be released to the tenant until they have vacated the property and we are satisfied they have fulfilled their obligations under the terms and conditions of the Tenancy Agreement.

We require all tenants to pay rent in advance minimum fortnightly, although in most instances tenants pay calendar monthly. To assist our tenants with ensuring they pay the rent by the due date we provide, on sign up, a schedule of rent due dates and simplified rent payment methods that are usually transferred directly from their nominated bank account on the due date.

Rental arrears and arrears control All tenants are informed at the commencement of their lease that rental arrears will not be tolerated nor excuses for late payment of rent. Payments are strictly monitored and, should arrears occur at any time, we act quickly to ensure tenant obligations are met. Tenants are alerted by phone, email and SMS, that their rental payment is overdue. Should their rent still be in arrears, a Breach of Tenancy notice is issued within the timeframes of legislative guidelines and rules. Should the tenants fail to remedy the breach by paying the rent, an eviction notice will then be issued. You will be advised at this point so you do not have any unexpected surprises when your statement is issued. It is vital that these notices are issued within correct timelines in order to protect your interests and insurance policy. Non-issue of these breaches could result in your insurance being deemed null and void in the event of a claim being necessary.

By issuing the required breach notices we not only protect your interests but, in most circumstances, future rental payments are prompt and on time as tenants are made aware that regular arrears and breaches of their Tenancy Agreement will affect future rental potential, tenancy applications and agency references.

Be assured that property owners are kept informed of rental arrears if ever the tenant lapses into arrears requiring an eviction notice to be issued. However, you can be assured that due to our strict rental arrears policies and procedures, we rarely need to take such drastic action. Should the breach result in an eviction notice being served on the tenant, the property owner will always be contacted for consultation prior to proceeding. In the event that we are unable to contact you at the time and as this is a serious breach of a tenancy, your Portfolio Manager will act in your best interests at all times.

IIAO5OWW-V2© PAGE 11 transfers and statements When the tenant pays their rent, it is instantaneously and without delay receipted to your personal property ledger and deposited into the agency trust account. Rent is generally paid on the due date in monthly installments. All tenants are issued with rent payment codes and instructions so they can pay rent on time, 24-hours a day. Rent transfers are usually set up through a third party rent payment service company and the tenants rent is transferred automatically without the tenant needing to remember to manually pay their rent on time. In some instances, due to weekends, public holidays etc. there could be a delay in the rent transferring from the bank and whilst the tenant has in fact paid their rent on time their receipted date may be slightly overdue on their required payment date.

Around the twenty-third (23rd) day of each month (dependent on weekends and public holidays) we finalize the account and, on the same day, electronically deposit all funds to ensure speedy transfer to your nominated bank account.

All funds paid by the tenant within the period are paid out. So if rent is paid in advance, you receive it in the month it has been received. Monthly statements are issued for each property under management. With our innovative property management software, statements are emailed to lessors. As well as paying accounts for repairs, we can also process and pay general payments such as rates, insurance, Strata levies, etc.

At the end of each financial year, we prepare and email a detailed annual statement of income and expenditure for your property. This service is provided free of charge, to assist you with record keeping for taxation purposes.

Should extra copies of lost or misplaced monthly statements or annual statements be required a fee is payable for preparation and disbursement of each requested statement.

recurring routine property assessments Property assessment inspections form a significant element of the service we provide to ensure the care and maintenance of your property. Prior to each new tenancy, a thorough and comprehensive Entry Condition Report is prepared and stored together with photographs. This report is saved to computer and forms the beginning of a comprehensive historical record of your property’s condition. The photographs provide evidence of the developing history and condition of the property. These reports are then used for all subsequent inspections of the property regardless of whether they are entry, routine assessment or exit reports. Furthermore, this ensures the property owner that regardless of who carries out the inspection, the inspector is provided with detailed evidence of the property’s condition and areas of concern requiring particular attention during subsequent inspections. Naturally, fair wear and tear on the property must be taken into consideration when inspecting and comparing the condition of the property.

The property owner is provided with a computer-generated report together with a routine property assessment synopsis and updated photographs so comprehensive advice of the condition of the property is conveyed after each inspection.

Routine property assessment inspections are normally a source of frustration for property owners. ireviloution intelligence’s systems ensure property assessment inspections are carried out on the due day every seventeen (17) weeks. The property inspection is scheduled into the system when the property is originally assigned to the Agency. The tenants may find that the property is inspected soon after their tenancy commences. All tenants are advised at the commencement of their tenancy when the next inspection is due and they are furthermore advised to expect us precisely 17 weeks later. This way there are no surprises for the tenants. They are also reminded of our inspection by a friendly letter, official Entry Notice and a request to leave the maintenance report form on the kitchen bench should there be any items of maintenance not yet reported, but recently detected. As a show of appreciation and because Bu siness Name cares about your tenant, the tenants are forwarded a ‘Thank You’ letter following each inspection. ireviloution intelligence’s method of fixing the day and time of recurring property assessment inspections also offers an immense benefit to the property owner. The property owner is now in a position to plan trips and their schedule to be available at the time of inspection should they

IIAO5OWW-V2© PAGE 12 wish to join their Portfolio Manager in inspecting their property. As well, the property owner is able to plan months and even a year in advance knowing the recurring inspection dates. We recommend that the property owner visits their property at least every two (2) years to see firsthand the condition of the property, how it compares to other properties in the area and to see what’s happening in their local market area.

Should any concerns about the tenant’s care and attention to detail in maintaining the property be noticed at the time of inspection a friendly call is made to remind them of their obligations and our expectations. When necessary, a Breach of Tenancy may also be issued for further follow-up.

prompt, reliable maintenance, repairs and refurbishment The consistency of our property assessment inspections together with our unique method of reporting frequently lead to savings on maintenance and repairs. We can identify areas where preventative action is needed, avoiding more costly repairs at a later date. If maintenance is required, or recommended, we will obtain quotes and arrange approved repairs. Business Nam e utilizes the services of a trusted team of experts in various trades. This is just another example of how we protect and preserve your property.

As a direct result of ireviloution intelligence’s systemized maintenance procedures from reporting policies, follow-up and audit through to completion and finalization, property owners can feel assured repairs and maintenance will not be forgotten. Forgotten and incomplete maintenance has the potential to become major repairs and replacements causing massive expense, not to mention, liability and loss of rent and property value. We require all property owners to authorize a minimum spend limit of $300 (three hundred dollars) per repair. This ensures maintenance will be dealt with effectively and promptly, eliminating the risk of angry tenants and worsening damage.

Prior to Business Name engaging the service of any contractor, they are required to complete a Contractor Appointment form and provide evidence of various insurance and work cover policies, providing even more peace of mind for property owners. The contractors are also supplied with the ireviloution intelligence Contractor Repairs and Maintenance Policy which provides detailed instructions and guidelines leaving no doubt for contractors, clients and our team. Contractors are also required to forward evidence of their annual renewal for all relevant policies and certificates.

Contractors are recommended for quality performance and competitive prices, proven over many years of service to our agency. You may nominate your own preferred tradesperson, however we require that those carrying out repairs can be easily contacted, act promptly and complete the required Contractor Appointment form and provide copies of all relevant documents and policies when requested. They must also agree to work within the guidelines of our agency policy and procedures.

As an owner you can be assured we will notify you immediately of any serious repairs or maintenance requirements and ensure work is carried out promptly and to completion. For major repairs and refurbishment a project management fee of 10% may be charged. Major repairs will not be authorized for commencement until full payment has been made to our agency for forward payment to the contractor on completion. A written policy will be provided should major maintenance or refurbishment become necessary.

Should a contractor fail to provide renewal documents as evidence of their current policy and license status, they will not be engaged until we receive the requested documentation. Furthermore, we monitor work levels, commitment levels, pricing and overall contractor attitude. Should we have any concerns or unresolved disputes we will no longer continue to engage that particular contractor. Again this is further evidence of our commitment to protect, preserve and persist.

IIAO5OWW-V2© PAGE 13 changes during a tenancy During the course of a tenancy many changes can take place. Our team follows thorough and comprehensive policies and procedures to ensure there are no communication breakdowns or confusion over matters. If any changes are requested all requests must be submitted in writing, regardless of the request. The request is then processed in strict accordance with TrackMates™ that the team must follow to ensure completion of whatever the task may be. This is peace of mind for both owner and tenant knowing that if it is not in writing then it does not exist. If there is no evidence of approved changed we simply refer to what is written and agreed to in the Tenancy Agreement.

changes to a shared tenancy On some occasions one or more of the tenants (who are legally responsible for the tenancy) wish to move out, however one or more of the original tenants stay on and continue living in the property. In this situation, you will be advised that we have a requested change. Please be assured that there will be no change unless we approve a tenant to move in and take over the existing tenancy. In this instance the applicant must go through the standard screening and qualifying process and a new tenancy is drawn up with the same conditions. If the remaining tenant wishes to take over then they must demonstrate and provide evidence that they have the financial means to pay the rent as well as standard living expenses. Please be assured that your interests will be protected at all times and we will manage this process through to conclusion.

tenant moving out prior to end of tenancy If the tenant wishes to leave the property prior to the expiry of their tenancy, we also follow a strict process to protect your rights. It is far better to manage this process than deny the tenant and risk them abandoning the property. We require the tenant to apply in writing and then fill in forms that appoint us as their agent in securing another suitable replacement tenant. They are required to agree to the terms and conditions if breaking their Tenancy Agreement, pay for advertising, reimburse the property owner for any expenses as a result of preparing the new Tenancy Agreement and stay in the property until a suitable tenant has been secured. If the tenant chooses to vacate and leave the property early, they are still responsible for the property’s care and upkeep, and of course paying their rent. We will inform you as changes take place and follow standard procedures in processing and application approval. Just as in all changes, please be assured that your interests will be protected at all times and we will manage this process through to conclusion.

tenancy expiry Before the Tenancy Agreement is due to expire, your Portfolio Manager will contact you to discuss options and request instructions. Once you decide on whether you would like to offer the tenants another term with or without a rental increase, your Portfolio Manager will confirm your instructions in writing (usually via email). They will then immediately call the tenant to advise them of the offer to extend or that they will be required to vacate the property. This will then be followed up immediately via an official letter.

Even if the tenants are offered a tenancy renewal they may still decide to vacate the property on the expiry of their tenancy. They may request a shorter term than they are being offered. In this instance your Portfolio Manager will discuss with you whether it is better to agree to a shorter term or vacate them at the end of their tenancy. As trained negotiators, we are always there to protect you as well as the tenants’ interests. Their research will assist them in understanding future market trends and whether or not it is best to release the tenant or manage them through to a shorter term, in which case the period the tenants are aiming to leave may actually be a better time for your property to be available.

The tenants will be required to sign a renewed Tenancy Agreement prior to the expiry of their current agreement. This is usually carried out in our Agency office. If they fail to sign within a

IIAO5OWW-V2© PAGE 14 certain timeframe, your Portfolio Manager will be in contact with you to discuss whether or not an eviction notice is served on the tenants. Under any of the circumstances regarding rental increases, tenancy renewal or tenancy termination, the team follow a TrackMate™ to ensure each task is carried out in accordance with agency policy and procedures and completed within the required timeframe.

finalizing a tenancy When the tenants eventually vacate the property the various team members have a part to play. These include collecting required documents and keys, inspecting the property and finally processing the bond and finalizing the tenancy through to completion. Again they have strict guidelines to follow by the TrackMate™ and all must be completed within a required timeframe to protect the interests of you as the property owner and the tenant.

You can feel confident that your Portfolio Manager will ensure the tenants fulfill all of their obligations and responsibilities under the terms and conditions of their Tenancy Agreement. Should any discrepancies or disputes arise as a result of the condition of the property or the tenant vacating, your Portfolio Manager will keep you updated on progress and persist until all matters are resolved through to conclusion.

maximizing your returns by minimizing vacancy periods Business Name recognizes that maximizing your returns through minimizing vacancy periods is quite possibly one of the principal reasons for engaging the services of professional Leasing and Property Management Consultants. This very factor is a major cause of concern for property owners. ireviloution intelligence have developed a comprehensive system to ensure Tenancy Agreements are renewed as due, whilst at the same time ensuring rental rates are increased within the legislated timeframe. By following our system, should the tenant not accept notice of a rental increase and/or the offer to renew their tenancy we have maximum time in which to market your property to ensure the tenant is replaced in the minimal amount of time, thereby both protecting and preserving your asset.

The key to maximizing performance is in setting a market rental rate to achieve stable and consistent occupancy. We constantly monitor the rental market. We assess your property and market factors that could influence the tenant as to whether or not they will decide to renew their tenancy and accept a rental increase or not. Recommended rental rates are designed to achieve optimum returns for your property.

Rents are reviewed at the end of each tenancy term. Advice is provided on the condition of the property, the rental market at the time of renewal and whether rents should be revised. Consultation and instruction is always instigated with the property owner prior to proceeding with rental increases and tenancy renewals. However, in the event of not being able to make contact with the property owner, a decision will be made on the owner’s behalf based on market knowledge and expertise. This ensures you once again that the owner’s best interests are always preserved and protected.

facilitation There are times when a dispute or disagreement may arise. Whilst our innovative systems are designed to minimize and mitigate disputes there will still be situations that require patience whilst the disagreement is resolved. Your Portfolio Manager is trained to facilitate requests between the owner and tenant. The Portfolio Manager will mediate and negotiate the matter in dispute until all parties have agreed on a resolution. However, there are times when resolution cannot be reached and other processes may be necessary such as tenancy dispute through the court system. If this is the case and there is money outstanding to a contractor who has carried out work on the property in preparation for the property to be occupied again then it is the owner’s responsibility to pay for this account until the matter is resolved through the court system. It is important to understand that this cleaning or repair work had to be completed regardless of who is responsible and if it is not completed in a timely manner then the property owner will suffer more losses due to the property not being ready for new occupants.

IIAO5OWW-V2© PAGE 15 Please remember that your Portfolio Manager is a trained facilitator, mediator and negotiator and is as eager as you to seek resolution and fairness between both parties.

accessibility Business Name offers all property owners and tenants the feeling of peace of mind as regardless of the emergency we are always at your service - on call 24 hours a day, seven days a week. In the case of a household emergency, we will have a decision-maker available to act quickly on your behalf. Should the tenant not be in a position to contact our agency, they are provided with comprehensive instructions should an emergency situation arise.

Complete personal service is important for property owners and tenants alike. All members of our leasing and management team are trained to assist with your property, regardless of their position. Our fully computerized division allows any member of the team to search the data and have access to a full history of the property, owners and tenants. This system enables all clients to feel confident that, should their normal contact person be away from the office, their enquiry can still be immediately and efficiently dealt with.

We ensure that our team stays connected with our local market so we can in turn provide you with the most honest, reliable and up-to-date information when making vital decisions. Our team is expected to undertake weekly market research as part of their commitment to our clients and us. We also expect our team to uphold our customer service standards to ensure that all client interactions are enriching not just for our clients but for our team as well. We want our teams to feel good about what they do and how they do it. You can only achieve that through support, systems, ongoing training and by understanding policies, procedures, standards and codes. That’s our commitment to our team and our clients and that’s how we achieve team and client loyalty and respect. It’s a mutually rewarding experience.

at your service Finally, we are happy to assist, support and help in any way that we can. You can feel confident that our team is ‘at your service’ in arranging extra property assessment inspections, meeting property valuers, insurance assessors and other contractors onsite, as well as arranging major repairs, quotes, refurbishments and renovations. A comprehensive list of our fees is attached for these and all services.

Trained and certified Leasing and Property Management Service by Business Name protects and preserves the quality and value of your property through ongoing maintenance, achieving optimum financial returns and persisting through all matters and circumstances.

We look forward to a lifetime of mutually enriching and rewarding experiences as your Leasing and Property Management Consultants and welcoming you as a TLC – our very special Treasured Lifetime Client™.

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