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Feb 17, 2021
What to look for when buying an investment property
Generally, when buying an investment property, there is less emotion involved than when buying a home to live in. Obviously, you will want it to a good area, be of good quality, produce reliable yields and have potential for growth. So, what are the types of things you should be considering when you are looking to purchase an investment property? Learn more in this video, where Joanne Danckwardt provides insights on this type of purchase. [siteloft_youtube video_id="/un47kQFBI8A" autoplay="1" suggestions="1"] If you are looking for an investment property to buy, request to be added to our open home alert YES, ADD ME TO YOUR OPEN HOME ALERT Income and Capital Growth Capital growth refers to the increase in the value of your rental property over time. As an example, if you invested in an apartment costing $500,000 two years ago, and sold it for $550,000 today, the apartment would have a capital growth of $50,000 or 10%. Both capital growth and rental income rely on a number of factors such as: Location Recent sales prices in the area Current rental prices in the area Interest in the area – current and predicted future interest. Do your research, and find out what areas do well in the rental market. The type of property The amenities of the building if it's an apartment or amenities that are close by eg – schools, shops, transport, Aesthetics While it might not be a home for you, it will be a home for someone (your tenant!), so it should be appealing to a broad range of potential tenants. Make sure it is clean, well maintained and has a good layout. You should also consider the age of property. Location, location, location Location is key to valuable real estate. A great location will remain an asset no matter how the real estate market fluctuates in the future, meaning you don't have to predict the real estate market. Consider the accessibility to transport, shopping, schools and other amenities, the appearance of the neighbourhood, development plans, and area crime rates. Use the opportunity to visit open homes in the area, ensuring you know relevant questions to ask at an open home to obtain a clearer idea about the area. Features Ideally, you want the property to appeal to the greatest number of potential tenants of various ages and segments to ensure you have access to a wide market. Try to find a property that has something a little extra, for example, a 2nd bathroom, a lock up garage, or a study nook. Long-term Remember that property is a long-term investment. Ensure you can maintain repayments over the length of ownership. Budget for what might happen if the rent does not cover the mortgage, bills, rates, etc, and ensure you have a finance backup. Remember you should always factor in costs associated with buying when looking for an investment property. If you are looking for an investment property to buy, request to be added to our open home alert YES, ADD ME TO YOUR OPEN HOME ALERT If you feel you could benefit from our experience with buying, selling, and property management we’d love to hear from you. Simply reach out or view our current for sale properties. We hope that has helped you today. If you have any questions, we’d love to talk to you. Our number is 0426 264 771. We look forward to talking to you soon.
Oct 6, 2020
Landlord responsibilities for smoke alarms
As a property investor, it is imperative that you realise your compliance obligations and responsibilities for smoke alarms in rental properties. These standards are not just legislation that you are required to comply with, but will also ensure the protection and safety of your tenant whilst they reside in your property. Smoke alarm legislation has evolved over time, it's really important to understand your duties as a landlord for smoke alarms. Watch this video as Joanne Danckwardt gives a brief overview on what the smoke alarm compliance is for your property and how you can adhere to your responsibilities as a landlord for smoke alarm compliance and keep your tenant safe. [siteloft_youtube video_id="G22H_r1JeAQ" autoplay="1" suggestions="1"] If you're ready to discover how you can rent out your property with confidence, download our free Step By Step Checklist to Renting Your Property with Confidence. YES, DOWNLOAD MY CHECKLIST Smoke alarms compliance is a key consideration for renting out your property. Below is an overview of how to ensure your properties are compliant with the current regulations. From 23 March 2020, important changes were made to the NSW Tenancy Legislation. NSW landlords need to ensure that smoke alarms installed in rented properties are in working order. If a smoke alarm is not in working order, the landlord ensure the alarm is repaired, including replacing a battery, within 2 business days. Every year, the landlord must check that the smoke alarm in working. The landlord must also ensure: The smoke alarm is replaced within 10 years of manufacture, or earlier if specified. The batteries are installed or replaced every year. For lithium batteries they must be replaced in the period specified by the manufacturer. Two business days’ notice must be given to the tenant to inspect or assess the need for smoke alarm replace or replacement. For repair or replacement of the smoke alarm, at least one hours’ notice must be given to the tenant. We strongly recommend making use of a third-party company to assist with the management of smoke alarm compliance in rental properties. These third-party companies are qualified electricians, and they offer effective servicing programs that will protect your property and keep residents safe against the risk of fire. This makes smoke alarm compliance easy and provides peace of mind, and ensures that you as a landlord meet your duty of care to your tenants, and remain compliant with legislation. Offering a third-party company for smoke alarm compliance is a sign that your property manager cares for you right. It is an ideal question for you to ask your property manager to see if they utilise third party companies to assist with this important piece of compliance and safety. NSW Fire promote the message that smoke alarm and batteries should be checked and maintained when you change your clocks for daylight saving time changes. If you make use of third-party company to manage your smoke alarm compliance in your rental property, they will schedule and manage an annual check. On top of that, they will complete a smoke alarm check for the start of every new tenancy. We request that all our tenants advise of any issues or concerns with their smoke alarm, and the third-party smoke alarm company will arrange to send electricians to the property to ensure the smoke alarm is in working order. If you're ready to discover how you can rent out your property with confidence, download our free Step By Step Checklist to Renting Your Property with Confidence. YES, DOWNLOAD MY CHECKLIST If you feel you could benefit from our experience with property management, we’d love to hear from you. Simply reach out. We hope that has helped you today. If you have any questions, we’d love to talk to you. Our number is 0426 264 771 or 0455 147 755. We look forward to talking to you soon.
Jul 23, 2020
What insurance does a landlord need?
As a landlord, have you ever asked “What insurance do I need for my rental property?” Obtaining appropriate insurance cover should be an automatic part of your investor portfolio procedure and should be one of the key considerations for renting out your property. Insurance is a small price to pay for peace of mind and is definitely worth the cost, plus it has the added benefit of being able to be claimed as a tax deduction and is an ideal tax time tip for your investment property. There are risks to your property that you should cover to protect yourself and your investment by establishing the correct level of cover. Watch this video as Joanne Danckwardt gives a brief overview on what insurance cover a landlord will need. [siteloft_youtube video_id="zPg7SCFLC10" autoplay="1" suggestions="1"] If you're ready to discover how you can rent out your property with confidence, download our free Step By Step Checklist to Renting Your Property with Confidence. YES, DOWNLOAD MY CHECKLIST So, what types of insurance should you consider for your investment property? Building Insurance When it comes to protecting yourself financially, it’s essential that your property is adequately covered by building insurance. It covers the cost of repairs to the property if there is damage that is caused by an insured event. It is designed to cover the permanent fixtures in your property, which includes items such as the roof, ceiling, walls, floors, doors, windows, fixed cabinets and cupboards, fences, and gates. Additional structures such as sheds and pergolas are also generally covered but it is best to check these additions with the insurer. Building insurance will generally provide cover in events such as: Fire Storm damage Lightning strikes Breakage of fixed glass Earthquake Vandalism Impact from falling trees Remember that inclusions on your building insurance will differ depending on the policy and provider. Some risks are optional extras which need to be added. We encourage you to have a thorough read of the Product Disclosure Statement (PDS) so you know exactly what is covered and what is not. This will mean you should not have any surprises should you ever need to claim. Make sure you keep your building insurance policy up to date by advising your insurer of any changes to the property, such as additions. Always determine if the insurance amount needs to be increased. Another important consideration is to consider if the property is at a high risk of events such as flooding. Do not assume that your building insurance will cover these risks as policies vary and you may need additional cover. Speak to your insurer about your situation to ensure that you have the right level of cover in place. For strata titled properties, building insurance is included in the body corporate fees, so owners just need to ensure that they have adequate cover the property’s contents. Contents Insurance As a landlord renting out a property, it is advisable to have cover for the contents within the property such as carpets, curtains, light fittings, etc. It is always advisable to double check your policies to see if contents are included in your building or landlord insurance. Landlords Insurance Landlord insurance is a policy that is designed to cover investment property owners for a variety of risks, including loss or damage caused by tenants. Unexpected events do occur, and even the most well-meaning tenants can default on their rent or accidentally damage your property. Whilst tenant reference checks can be carried out for a tenant’s history, you cannot predict the future which may include your tenant losing their job, suffering a long-term illness or a relationship breakdown. These are all common occurrences that can affect the tenant’s ability to pay rent. There is also the risk of unforeseen disasters or events, such as fires and floods, that may damage your property. A Landlord Insurance policy could save you considerable losses in the long run. The types of events that a landlord insurance policy may cover include: Theft or burglary by tenants, their guests or other burglars Malicious damage or vandalism by tenants or their guests Loss of rent due to tenant default or breaking of the lease or if the property becomes unliveable after an insured event Legal expenses required to evict a tenant Features to be aware of in a landlord insurance policy include: Damage caused by a tenant’s pet Public liability cover for injury to someone visiting your investment property Rent loss due to an insured event, such as a tenant defaulting on their rental payments, death of a sole tenant, or the eviction of a tenant by court order Re-letting expenses after a claim on rental loss Removal of a tenant’s goods after a claim on rental loss Change of locks after a claim on rental loss Legal costs related to a tenant eviction by court order or a claim for rental loss Some landlord insurance policies could include landlord contents cover, which could cover items such as light fittings, blinds and curtains, carpets, and electrical appliances. If you own a strata titled property, another benefit of Landlord Insurance is the public liability cover. Body Corporate public liability insurance may only cover common areas, and does not include public liability cover for the landlord inside the individual property itself. This means you could be left out of pocket should your tenant or their visitors incur medical expenses or loss of income as a result of a public liability event within your property. Items to check when purchasing landlord insurance include the terms and conditions of the policy, what it does and doesn’t cover, and the excess that applies if you make a claim. These details may vary from policy to policy, so looking around and reading the product disclosure statements (PDS) is a good idea. It is worth noting that typical landlord home and contents, and landlord insurance policies do not generally cover the possessions of the tenant within the property. We recommend that our tenants take out their own contents cover for their possessions. When looking at insurance, we strongly recommend that you seek professional advice from your insurer or broker, and speak with your accountant about the potential of a tax deduction. You should also be able to gain insights into insurance for your investment when preparing your questions for your Property Manager. Please be aware that this is general advice only. For more information specific to your individual financial circumstances, speak to a trusted professional and make sure to consider all of your options before making any final decisions. If you're ready to discover how you can rent out your property with confidence, download our free Step By Step Checklist to Renting Your Property with Confidence. YES, DOWNLOAD MY CHECKLIST If you feel you could benefit from our experience with property management, we’d love to hear from you. Simply reach out. I hope that has helped you today. If you have any questions, I’d love to talk to you. My number is 0426 264 771. I look forward to talking to you soon.
Jun 26, 2020
Welcome to our new website
At One Agency JD Property Agents, we are always looking for ways to improve the quality of service we offer. We are excited to announce that our new and fresh website is live, and we would love to introduce you to it, and encourage you to look around. After months of hard work and dedication, we are proud to showcase the new site to you, with its fresh new look and feel, intuitive design and navigation system. We have designed the site to enhance your online experience with us. We wanted to make the new website faster, easier to navigate, and more user-friendly for you. One of our goals with this new website is to provide our visitors an easier way to learn about our services and to browse information based on choice. Here what’s new: Fresh Design Our new website reflects what we stand for; with a sleek look and clean feel, with a simplified colour scheme, with our home page offering a more welcoming approach. We view our virtual premises like our home and want you to feel at home when you visit us. Enhanced Navigation and Contact Our improved on-site navigation system will help to direct you to the information most relevant to you. We now offer an easy way to contact us, with pop up contact form. Improved Search Our improved search function on our blog allows you to find the tips and resources you need whether buying, selling, leasing or community updates. Mobile Responsive Our new website is fully optimised for mobile devices, making it easy for you to navigate on a range of browsers and devices, be it at your desk, at home, or on the move. New Content We have also introduced new content, including the opportunity for you to get to know our team better with their own dedicated space on the site. Enriched research and access Our new site also offers you greater ability to view written client stories and video client stories from our clients when you are researching us and our services. The new website also gives better access to who we are, our sales services, our rental services, market reviews, and concierge. Greater Showcasing of Property The new site allowed us to improve how we showcase our properties currently for sale and for lease in a way that you can easily view a gallery of photos, watch the property video, see the property location on a map, view the floor-plan, and access a virtual tour. There’s a whole host of smaller but impactful changes, all to make your experience of the One Agency JD Property Agents site much better for you. We hope you enjoy the fresh new look of our updated site and encourage you to look around to find our other updates and changes. If you feel you could benefit from our services, we’d love to hear from you. Simply reach out. I hope that has helped you today. If you have any questions, I’d love to talk to you. My number is 0426 264 771. I look forward to talking to you soon.
Jun 14, 2020
7 tax time tips for your investment property
June brings not only the start of winter, but also the last month of the financial year. Being organised with your tax documents for your investment property, will allow your accountant to lodge your annual income tax return in a hassle-free and smooth process. Are you wondering if owning an investment property even impacts on your tax and financial situation? Watch this video as Joanne Danckwardt gives a brief overview on what may be involved, and how it can affect your financials. [siteloft_youtube video_id="vb6MCMQyi58" autoplay="1" suggestions="1"] There are many considerations when renting out your property, with great tax benefits and investment property tax deductions being one of them. It is important for property investors to understand their requirements to ensure they get the most out of this year’s tax return. If you're ready to discover how you can rent out your property with confidence, download our free Step By Step Checklist to Renting Your Property with Confidence. YES, DOWNLOAD MY CHECKLIST To ensure that you maximise your return and gain the maximum benefit from your investment property, here are our 7 tax time tips for your end of financial year preparation: 1. Know the income you are required to declare Have a clear idea of the income you need to declare. The main income stream will be rent received. Consider any other additional income such as money received from bond refunds, insurance payouts or any additional lump sum payouts associated with your property. 2. Understand what costs you can claim Know what is deductible and what is not deductible on your investment property, and keep clear and concise record of these expenses. If your property is managed by a real estate agency, you should receive a detailed End of Financial Year statement to assist with this, but it may not contain all your costs the property has incurred throughout the financial year. For your investment properties make sure you have considered the following: Council and Water Rates Strata Levies Insurances Agent fees Bank fees Borrowing costs (eg. Mortgage insurance, application fees etc)* Repairs and Maintenance, (eg: pest control, electrical, and plumbing) Interest on loans Depreciation* Travel expenses Renovations or improvements* Land Tax *Some of these items are not eligible for an outright tax deduction but may be depreciated over a period of time. 3. Recognise the costs that you can’t claim Expenses paid by the tenant cannot be claimed, nor can any expenses that have accrued through your personal use of the property. In most Australian states, you are unable to claim expenses relating to buying or selling of the property, such as the purchase price, conveyancing and advertising costs, building inspections and stamp duty. However, these costs can form part of the cost base of the property. For more information on this, we recommend you contact your accountant. 4. Capital gains tax Most investment properties will be subject to capital gains tax when the time comes to sell the property. Speak with your accountant to see if you may qualify for an exemption on this tax. 5. Ask Questions Do not be afraid to ask your accountant questions – find out what they are doing and why. It is your accountant/tax professional’s job to not only to prepare your tax return but help you to understand tax implications of your investment property. If you understand why your accountant needs particular information and documents to complete and finalise your tax return this will save you a lot of time in preparing for the next financial year. Consider making use of the experience and knowledge of your agent, by having a list of questions to ask your Property Manager. 6. Check your tax return Take the time to read through and check your tax return before signing it. 7. Make sure to save your records The Australian Tax Office requires all property investors to keep records such as their purchase contract, all documents relating to capital gains tax, financial records and evidence of any expenditure on property improvements. We recommend you file them in a safe spot, so that they are easily accessible should you be required to produce them in the future. Please be aware that this is general advice only. For more information specific to your individual financial circumstances, speak to a trusted financial professional and make sure to consider all of your options before making any final decisions. If you're ready to discover how you can rent out your property with confidence, download our free Step By Step Checklist to Renting Your Property with Confidence. YES, DOWNLOAD MY CHECKLIST If you feel you could benefit from our experience with property management, we’d love to hear from you. Simply reach out. I hope that has helped you today. If you have any questions I’d love to talk to you. My number is 0426 264 771. I look forward to talking to you soon.
Feb 26, 2020
5 key considerations for renting out your property
Achieving wealth and financial freedom through property acquisition is an attainable goal, although it does require education and having appropriate knowledge, and can at times be overwhelming, even for a seasoned investor. Knowing the right steps to make requires good advice on renting out a property and correct strategies to ensure that you are headed in the right direction to achieving your goals when renting your property. Renting your property with confidence is easy when you know how. In this video, we provide you with five key considerations that you need to have when you’re looking at renting out your property. [siteloft_youtube video_id="w60iGwi367k" autoplay="0" suggestions="1"] If you’re ready to discover how you can rent out your property with confidence, download our free Step By Step Checklist to Renting Your Property with Confidence. YES, DOWNLOAD MY CHECKLIST 1. What are the costs associated with renting out your property? Expense items that you need to consider when renting out your property include, but are not limited to: Insurance Council rates Land tax Water rates Strata levies, if the property is strata titled Repairs and maintenance Compliance, including smoke alarms Management fees Advertising costs when looking for a tenant Accounting fees Loan and interest repayments Tax on rental income 2. What sort of insurances do you need? Insurance items that you should consider for your investment property include, but are not limited to: Landlords insurance Building insurance Contents insurance 3. What is the benefit of having a great Property Manager? Utilising the services of a Property Manager to manage your property is a key decision. A competent Property Manager can save you stresses that can come with having to manage your investment property. Knowledge of legislation, finding, screening and managing your tenants and their rental applications, management of rental arrears, detailed property inspections including condition reports, that will not only advise on required repairs and maintenance but also ensure the property continues to increase in value, arranging of repairs and maintenance, correct accounting procedures, and legislation advice are just some of the tasks a great Property Manager will do on your behalf. Many property investors will dismiss the idea of hiring a Property Manager, but a engaging property management services from a great Property Manager can be a main factor that can dramatically improve the return on your investment. 4. How will an investment property affect your tax/financial situation? As you will be receiving rent from the property, this will be classed as income, which will attract tax. Costs associated with owning the investment property may be claimed as a tax deduction to reduce your taxable income. You should also be aware that any capital gain that you may make when selling or disposing of the property will be subject to capital gains tax. With everyone’s situation being different, it is advisable that you speak directly with your trusted accountant or financial planner about this investment property and it will impact on your current tax situation. Being organised with tax time tips will help with your discussions with your accountant. We also encourage you to ensure you keep detailed records right from the start to work out what expenses you can claim as deductions and declare all rental related income, and also be able to review any depreciation that can be claimed. 5. What additional services will be included in the weekly tenant rent? The rent that a tenant pays to you as a landlord give them the right to live in the property. You can include additional services/items into this weekly rent, such as lawn and/or swimming pool maintenance. Both these items are generally the responsibility of the tenant, but you may feel more comfortable in knowing that these are being cared for correctly by certain qualified certain technicians, and the tenant may be happy paying a bit extra in their weekly rent to have these responsibilities taken care of. If you’re ready to discover how you can rent out your property with confidence, download our free Step By Step Checklist to Renting Your Property with Confidence. YES, DOWNLOAD MY CHECKLIST If you feel you could benefit from our experience with property management, we’d love to hear from you. Simply reach out. I hope that has helped you today. If you have any questions I’d love to talk to you. My number is 0426 264 771. I look forward to talking to you soon.
Feb 11, 2020
Are you obligated to stay with your Property Manager?
If you have just changed real estate agencies and discovered that you have gone from bad to worse, are you obliged to stay with them? Do you feel like you are committed to stay with that agency for six or twelve months? What happens when you feel you are with the wrong property manager? Often for landlords, just the thought of switching agents, is an enormous headache and feels uncomfortable. If you are unhappy with your current property management agent representing you and wondering what your obligations are to them, this video will highlight how easy and simple it can be to switch property management teams. [siteloft_youtube video_id="ijSPu4jZ_QY" autoplay="0" suggestions="1"] If you’re ready to discover how you can rent out your property with confidence, download our free Step By Step Checklist to Renting Your Property with Confidence. YES, DOWNLOAD MY CHECKLIST What are your obligations when you want to fire your Property Manager? What many landlords don’t realise is, switching agencies is as simple as giving notice. The Managing Agency Agreement you signed with your current agent has a clause that states that either party can terminate the agreement, giving the required notice at any time during the management. Typically, 30 days’ notice is required – but it always pays to check your agreement. We would be happy to check it for you on your behalf if you would prefer. Most property management companies, will handle the entire change on your behalf, FREE of charge. You can change property management companies at any time – with the right process. Switching property managers may seem difficult or uncomfortable, but the good news is that changing to a new property management company doesn’t have to be hard at all! It pays to take a step back and evaluate the quality of the property management service you are receiving and see if you are being cared for right. If you are unhappy with the service you are receiving, it is a relief to know that you are not obliged, committed, or locked into maintaining an unsatisfactory relationship for one of your biggest financial assets. You can try our rental property appraisal service to see if your property management arrangement is right for you. If it isn’t, or you’re simply unhappy with your property manager, we’re here to offer a better solution and take all of the stress out of the switch. All you have to do is sit back and relax. Switching Property Managers quickly and efficiently When you feel you aren’t getting the service you require from your property manager, switching to a new team is your best option. Many agencies, us included, can take care of this with as little as a phone call. If you’re thinking about switching property managers, the team at One Agency JD Property Agents will handle the entire process free of charge. Whenever an investor wishes to transfer their portfolio to our care, we handle the changeover from start to finish – all you need to do is sign some paperwork. We can do everything from contacting your old property management company to give notice, to organising paperwork, picking up the keys, notifying your tenants and organising inspections can be done simply, professionally and efficiently – you just need to give us a call. You don’t have to worry about feeling uncomfortable about approaching your property manager to fire them. The whole process really is easy and stress-free for you as the landlord. The last thing a stressed out landlord wants, is to have an uncomfortable conversation, or to risk being persuaded to stay. A handover process should be as quick and as painless as possible. The One Agency JD Property Agents Changing Property Management Process You inform us that you would like us to take over the management of your property portfolio We prepare a Managing Agency Agreement and written notice to terminate your agreement for you to sign. We forward the notice to your current agent and arrange to pick up your property file and keys from their office on the arranged date. We notify your tenants in writing. Then, their new One Agency JD Property Agents Property Manager welcomes them. One Agency JD Property Agents becomes your new management agency (as of the agreed date) and life carries on as normal. We arrange a property inspection to update the existing condition report (if required) and keep you informed each step of the way. If you’re ready to discover how you can rent out your property with confidence, download our free Step By Step Checklist to Renting Your Property with Confidence. YES, DOWNLOAD MY CHECKLIST If you feel you could benefit from our experience with property management, we’d love to hear from you. Simply reach out I hope that has helped you today. If you have any questions I’d love to talk to you. My number is 0426 264 771. I look forward to talking to you soon.
Jan 26, 2020
Can you change your property manager mid-lease?
One of the most common things we hear from property investors is that people feel that they are stuck with a property manager that doesn’t suit their needs, with no means of exiting the arrangement. What happens when you feel you are with the wrong property manager? Often for landlords, just the thought of switching property managers mid lease, is an enormous headache and feels uncomfortable. If you are unhappy with your current property management agent and wondering how you can swap property managers, this video will highlight how easy it can be to switch property management companies, and how you don’t have to wait until a lease has expired or property to be vacant to change. [siteloft_youtube video_id="NPQnWaj-zvY" autoplay="0" suggestions="1"] If you’re ready to discover how you can rent out your property with confidence, download our free Step By Step Checklist to Renting Your Property with Confidence. YES, DOWNLOAD MY CHECKLIST Where do you begin when you want to switch property management companies? You can change property management companies at any time – with the right process. Switching property managers may seem difficult or uncomfortable, but the good news is that changing to a new property management company doesn’t have to be hard at all! What many landlords don’t realise is, switching agencies can be as simple as giving notice. And most property management companies, will handle the entire change on your behalf. How to switch your property manager quickly and efficiently When you feel you aren’t getting the service you require from your property manager, or being cared for right, switching to a new team is your best option. Many agencies, us included, can take care of this with as little as a phone call. If you’re thinking about switching property managers, the team at One Agency JD Property Agents will handle the entire process free of charge. Whenever an investor wishes to transfer their portfolio to our care, we handle the changeover from start to finish – all you need to do is sign some paperwork. We can do everything from contacting your old property management company to give notice, to organising paperwork, picking up the keys, notifying your tenants and organising inspections can be done simply, professionally and efficiently – you just need to give us a call. You don’t have to worry about feeling uncomfortable about approaching your property manager to fire them. The whole process really is easy and stress-free for you as the landlord. The last thing a stressed out landlord wants, is to have an uncomfortable conversation, or to risk being persuaded to stay. A handover process should be as quick and as painless as possible. One Agency JD Property Agents Changing Property Management Process You inform us that you’d like us to take over the management of your property portfolio We prepare a Managing Agency Agreement and written notice to terminate your agreement for you to sign. We forward the notice to your current agent and arrange to pick up your property file and keys from their office on the arranged date. We notify your tenants in writing. Then, their new One Agency JD Property Agents Property Manager welcomes them. One Agency JD Property Agents becomes your new management agency (as of the agreed date) and life carries on as normal. We arrange a property inspection to update the existing condition report (if required) and keep you informed each step of the way. What if you are locked into your agreement with a tenancy lease? A tenancy agreement does not lock you into an agreement with your property manager. Whilst there are many agencies who would like you believe that any a Managing Agency Agreement and/or Residential Tenancy Agreement locks you in for the term of your tenants’ lease, this is not correct. The Agreement you signed comes with a clause that states you can give your property manager the required notice at any time during the management. Typically, 30 days’ notice is required – but it always pays to check your agreement. We would be happy to check it for you on your behalf if you would prefer. It pays to take a step back and evaluate the quality of the property management service you are receiving. You can try our property appraisal service to see if your property management arrangement is right for you. If it isn’t, or you’re simply unhappy with your property manager, we’re here to offer a better solution and take all of the stress out of the switch. All you have to do is sit back and relax. If you’re ready to discover how you can rent out your property with confidence, download our free Step By Step Checklist to Renting Your Property with Confidence. YES, DOWNLOAD MY CHECKLIST If you feel you could benefit from our experience with property management, we’d love to hear from you. Simply reach out I hope that has helped you today, but if you have any questions whatsoever I’d love to talk to you. My number is 0426 264 771 and I look forward to talking to you soon.