Investment Property, Investment Property Melbourne, Property Management, Commercial Investment Property

Hassle Free Investment Property Management

Whether you are a new investor or an existing Landlord looking for a better performing investment property portfolio, we take the time and stress out of property portfolio management. Portfolio Management Services' staff tackle everything from the initial inspection and cleaning, to collecting your rent and paying your mortgage. Our investment property management approach has been developed as an integrated service so that clients face low risk and little worry. This means that owning a property managed by Portfolio Management Services is no more involved than owning shares. In practice, you need have little involvement in the day-to-day operation of your investment property portfolio. The benefits include low stress for you and accountability from us.

Preparing Your Investment Property for Renting

On completion of settlement and collection of the keys, Portfolio Management Services inspects and cleans the property, and arranges for any refurbishment works (if required) on your behalf. This work may be as minor as a general clean up and installation of new locks, or there may be a need for simple renovation work like painting and carpeting. Less commonly, some properties may require more extensive work such as the refit of a kitchen or bathroom, or a workshop or a new driveway in an Industrial investment property.

Whatever the level of effort required, Portfolio Management Services makes the necessary arrangements. Further, because we are involved in the investment property right from the start, we negotiate, wherever possible, to prepare your investment property prior to settlement so that your property investment becomes an income producing asset immediately it settles.

Selecting the Tenants

Once a residential or commercial investment property is ready for letting, Portfolio Management Services advertises the property, opens it for inspection, and carefully screens tenancy applicants. This means verifying employment, credit worthiness and references prior to accepting a suitable tenant on your behalf. Our property advisory and experience over thirty years has taught us much about tenants and we know that the right property, correctly maintained, will always attract good quality tenants. Your involvement is limited to signing the various authorities and banking the cheques.

Accessibility and Accountability

Our property managers are readily available to discuss any queries in relation to rent collection and property matters like leasing, tenancies, maintenance and accounting. We believe clients should always have easy access to their property portfolio management and those that manage it, so we encourage client interaction. Every month you will receive a rental statement together with invoices for any work undertaken on your investment property. Unless you advise us otherwise, we also arrange to pay all outgoings on your investment property, including mortgage installments, insurance and other creditors, council and water rates, and maintenance contracts. All payments made on your investment property are accounted for in the monthly investment property statement. The net proceeds are then remitted to your bank account. Remember that the property is your investment. While you may have entrusted us to acquire and manage your property for you, you are entitled to be fully informed regarding its performance at all times.

At Portfolio Management Services, we believe that the most important feature affecting successful residential and commercial investment property is consistent property portfolio management. An expert property management system is a key tool in maximising the performance of any property investment and minimising vacancy losses. To fulfil this promise to our clients, Portfolio Management Services provides comprehensive investment property management system. This service is not exclusive to our property investors; we offer this service to all prospective and existing landlords who wish to utilise the experience of our property management team and to add value to their rental properties.

Property Management Principles

Our property portfolio management company handles investment property management every day, in every way. We treat every investment property on our rent roll as an investment and understand that it is part of our client's future security. We manage all styles of residential investment property from luxury city apartments to suburban period homes. Our commercial investment property portfolios cover inner metropolitan city buildings to converted factories in Dandenong. It is a Portfolio Management Services principle to apply diligence in our investment property maintenance management from day to day repairs to larger projects. Good property portfolio management requires regular inspections and rental reviews, and we carry these out on your investment property on a programmed basis.

We are not afraid to advise and initiate improvements or renovation work if it is beneficial to your property investment.

The combined experience of our property portfolio management team and associated property investment specialists enables us to offer specialist investment property management services in:

Residential investment property buying
Commercial investment property buying
Residential investment property management
Commercial and industrial investment property management
Investment property project management
Financial planning referrals
Investment property repairs and renovation

Leasing and Marketing

As investment property specialists, Portfolio Management Services understands the need for maximum return on your property investment. All our energies are focused on matching individual tenants to your investment property, keeping them happy and setting realistic rents with regular reviews. Wherever possible, Portfolio Management Services advertises your investment property well in advance of the tenants vacating the premises to reduce the vacancy time on your investment property.

Portfolio Management Services' Tenant Database

Portfolio Management Services keeps up-to-date lists of prospective tenants who have registered with us and matched with available investment properties.

Click here to go to our Tenant Search section

Available Properties List

Updated daily and available from our office or website. Details are emailed or faxed to hospitals, universities and institutions surrounding your investment property. Portfolio Management Services has also developed access to an extensive network of relocation groups who also receive our list.

Click here to go to our Property Search section

Open for Inspections

Our regular Open for Inspections are one of the most effective tools in attracting good tenants for your residential and commercial investment property. Personal inspections are also arranged.

Advertising

Portfolio Management Services client investment properties are advertised with maximum exposure and minimum expense. We have found the most effective marketing tool for investment property management is the internet. We advertise properties on four real estate websites ensuring that every property has an up-to-date description and at least one photograph. Open for Inspection times are also advertised in The Age on Saturday and in local papers if required. Inexpensive For Lease signs are displayed at the front of your investment property as soon as it is on our vacancy list (unless prohibited). Landlords can also opt for a larger For Lease board, which we recommend for properties in a prominent position.

Investment Property Management and Tenancy

Tenant Selection

Prospective tenants are thoroughly assessed and screened. Once they have completed our extensive application criteria, our investment property management team conducts a thorough check on their employment and rental history as well as personal references. All prospective tenants are subjected to Portfolio Management Services' check for rental credit history. Checks are made through the National Tenancy Database (NTD), the leading authority and information base on tenants in Australia, only available to professional management groups.

Tenancy Agreement

On the acceptance of the lease application each tenant is provided with a written lease agreement in accordance with the current legislation and includes any special conditions that may be negotiated with you and the prospective tenant.

Bond Security

The Residential Tenancies Act 1997 states that all bonds must be forwarded to the Residential Tenancies Bond Authority (RTBA) where they are held on trust for the tenant until termination of the tenancy. In accordance with this legislation we collect the equivalent of one month's rent as bond.

Payment of Outgoings

Portfolio Management Services pays all property accounts and statutory charges on your behalf unless directed otherwise. These payments generally include water rates, council rates, body corporate fees, public lighting, insurance, caretakers, maintenance contractors and, when instructed, mortgage interest.

Programmed Investment Property Maintenance

Portfolio Management Services operates our investment property management services on a programmed maintenance system. This means that your investment property is inspected in accordance with our Routine Maintenance Checklist. This checklist is completed on our first inspection of your property. We understand that the long-term nature of your investment is benefited by programmed property management system.

A written report on your residential investment property or your commercial investment property will be provided to you annually or sooner on request. This inspection report is sent to you together with our recommendation for maintenance, refurbishment and repairs. At the conclusion of these programmed inspections any required maintenance is attended to immediately and authorisation is sought for any recommended maintenance work.

Investment Property Maintenance Professionals

Our professional maintenance team is highly experienced in the art of investment property management. This qualified team offer very competitive rates for routine work. Any large works or refurbishments are carried out by fully licensed, insured tradespeople on your behalf.

Regular Rental Reviews

Within the parameters of the existing market conditions, the rent is reviewed regularly in accordance with the lease agreement. Such increases are judged carefully against tenant expectations, market conditions and vacancy rates. Wherever possible we believe even a small increase in rental can have a substantial effect on the long-term performance of your investment property portfolio.

Rental Arrears

Portfolio Management Services monitors tenant payment history regularly so that we might identify any potential difficulties. In the case of rental arrears, we commence a programmed response, which includes;

Formal advise of arrears after 5 days
Formal advise of arrears after 10 days
Follow up reminder calls

We work with the tenant regarding payment with referral to the landlord to minimise the risk of having the investment property vacant. However, if the tenant has failed to contact us and is in excess of 14 days in arrears, we service a notice to vacate and make an application to the Victorian Civil and Administrative Tribunal (VCAT) for a hearing to claim possession, rent and necessary costs.

Victorian Civil and Administrative Tribunal (VCAT)

Portfolio Management Services investment management team is highly experienced in negotiation and problem solving. If disputes do occur, we always make our best effort to solve these before they escalate into serious problems. However, on the unlikely occasion that a dispute goes before the tribunal, our property managers are fully trained in the relevant legislation and will be on hand to provide you with advice and conduct a tribunal hearing on your behalf. In the event of a tribunal hearing, Portfolio Management Services will prepare all documentation and applications to VCAT and will represent your case to the tribunal without any inconvenience or difficulty to you personally.

Investment Property Insurance

All investment properties purchased and managed with Portfolio Management Services are comprehensively insured and we strongly recommend that your residential or commercial investment property be covered likewise. Portfolio Management Services also recommends that you obtain specialist landlord insurance to protect you against loss of rent, accidental damage to your investment property and unforseen events.