Agents are to keep in mind that the following administrative tasks required when dealing with a Landlord.
Record the following:
- Legal ownership.
- FICA details.
- Type of management contract.
- Property inspection report.
- Banking details/account payment details.
Record maintenance of:
- Market trends.
- Regular feedback sessions with the landlord.
- Body corporate / council payments & liaison.
- Monthly statement of monies received vs monies paid out.
- Regular property maintenance and inspections.
Management functions:
- The number of rentals turned to mandates.
- Rental property stock growth: number of new rentals vs existing, losses etc.
- Property market value and property capital gains vs rental returns.
- Additional properties purchased for buy-to-let.
Agents are to keep in mind that the following administrative tasks required when dealing with a Tenant.
Record the following:
- All relevant contact details: names, telephone numbers, email addresses etc.
- Current employment history + past references.
- Property inspection report.
- Signed application – specifically permission to obtain credit checks.
- Means of payment i.e. debit order, EFT, etc.
- Receipt of the deposit paid and proof of us holding the money in trust.
Record maintenance of:
- Monitor activities as per the terms of lease agreement i.e. lease renewal.
- Payment profile and tenant detail updating on TPN.
- Monthly invoicing & statements and collection of rental payments timeously.
- Maintaining all communication via letter or email.
- Address property maintenance and recorded faults.
Management functions
- The number of tenants converted to buyers.
- Track number of on-time payments vs late or defaulted payments.
- Track average lease periods and rental increases.
- The number of to let properties vs tenants placed monthly.
- Percentage of existing tenant base defaulting or in the legal eviction process.