Sarah Stevens
Property Management - Team Leader
First National Finning Property Management Services
Introduction
Welcome, and thank you for considering engaging our property management services at First National Finning Real Estate.
Established in 1952
Finning and Company was founded on the principles of delivering 'Excellence in Customer Service'
The following serves as a guide for some of the key things you need to know, should you choose to have us manage your investment property. We hope you find this useful in developing an understanding of our people, procedures, processes, and more generally, the way in which we put you first during this next step in your property ownership & management journey.
We hope that this comprehensive guide gives you a detailed insight into how our property management services can benefit you, however, should you have further questions after reading the below, please do not hesitate to contact a member of our experienced property management team on 035 996 1200.
Our Property Management Team
Our property management team is made up of a number of experienced real estate specialists across leasing, property administration, the tenancy process, and everything involved in the maintenance and management of your valuable investment property.
Built on a foundation of superb customer service and exceptional results for our clients, the property management team at First National Finning is ready to put you first, when you entrust us with your investment for the years to come.
Without further ado, it’s time to meet the team…
Rick Lauretta
Commercial and Residential Sales and Leasing - Director
Our Property Management Service Guarantee
At First National Finning , we pride ourselves on delivering a full-service offering for our clients and their investment property, ensuring that we are there every step of the way, to make the process as seamless as possible. These are the guaranteed steps we take to ensure the best possible management of your investment.
COMMUNICATION
- Our office is open 6 days a week.
- If your Property Manager is unavailable for any reason during business hours and you leave a message, it will be responded to within 24 hrs.
- Emails will be responded to within 24 hrs.
- Should your Property Manager be unavailable at any time, we have multiple professional fully qualified staff to assist you.
VACATING TENANTS AND LETTING: Upon receipt of a Vacating Notice, we will ...
- Advise you by telephone or email with 24 hours.
- List your property on the internet within 24 hours of our discussion and your written confirmation of your instructions to us (subject to availability of suitable images).
- Communicate with you at least twice a week until your property is rented.
- Present all tenancy applications received for your consideration as received.
- Provide you with a copy of the signed Residential Rental Agreement within 48 hours of the commencement of your new Renters lease.
MAINTENANCE:
- We will advise you of all maintenance issues prior to proceeding with any repairs. If you are unavailable and the matter is defined as “urgent”, we will arrange for the necessary repairs to be undertaken and we will contact you as soon as possible with all of the details.
- We are available 24 hrs 7 days per week for urgent maintenance notifications on your property.
RENT COLLECTION:
- We have a zero tolerance rental arrears policy procedure in place.
- In the event that your Renter fails to pay their rent on time, we will pursue the rent arrears with the maximum speed within Tenancy Legislation parameters and use every means available to ensure that the rental is brought up to date with the absolute minimum of delay.
OUR GUARANTEE 
Should we fail to meet any of these service commitments, we will manage your property for the next three months -
TOTALLY FREE OF ANY MANAGEMENT FEES.
How We Determine Your Property's Rental Value
Accurately appraising the rent achievable for your property is critical in assuring we provide you the best possible service. This is something we do not take lightly and we carefully consider a number of factors that influence your income earning potential. These include but are not limited to local area market trends, industry data, property features, the quality of the build, and the overall presentation of your property.
Our property management team are incredibly experienced, we pride ourselves on our local knowledge, and also our ability to secure the best possible return for your investment. Most importantly, we make sure we provide realistic estimates, and prioritise making our clients feel as though we are not only providing an honest insight, but that we also have their best interests at heart.
The Tenancy Process
Choosing the appropriate tenant for your property is paramount. Whilst the final decision is of course up to you, we will always endeavour to provide our best insights as to the best tenant to lease your property.
SELECTING THE RIGHT RENTER FOR YOUR PROPERTY.
Our process of selecting the right renter for your property is something we take very seriously. The effort which we put in at the start of the process ensures the best possible outcome for our Residential Rental Providers* and their valuable investment properties.
Our selection process follows a number of very strict guidelines.
1. Personal Inspections & Open inspections
Prospective renters interested in your property can make a personal appointment to view the property with a Property Manager or attend one of our regular opens. Appointments are available 6 days a week at a mutually beneficial time. We do not simply hold a half hour Open For Inspection once a week and expect interested renters to view the property only at that time. Most prospective renters work and cannot take time off only when it suits the Agent which means that good prospective tenants can be lost to your property.
2. Personal Meeting & Assessment of the Renter by a Property Manager
At the inspection, your Property Manager has the opportunity to speak with and make a judgment on the applicants. Your Property Manager records contact information of all prospective renters and their details are recorded into our data base. The keys to your valuable property are never handed to the prospective renter to inspect the property by themselves (as happens in some other offices.) Interested applicants for your property complete our detailed Application Form (available from our office or on-line) and are required to provide proof of income and identity plus copies of previous rental references. We are looking for evidence of stability, security, longevity and responsibility from all applicants.
3. The Checking Process
From the application we are able to check employment history, evidence of regular income, past rental history and personal references. We combine this information with the personal assessment of the Property Manager who conducted the inspection and form an opinion of the suitability of the prospective renter or your property. Our recommendations are then referred to you as the Residential Rental provider and your response sought. If the application is acceptable, we recommend a detailed credit check be carried out with a National Tenancy Data Base, following which the renters is contacted and advised of the outcome of their application.
We keep you informed throughout the entire process and make sure that you have a clear picture of the Renter. You can then be rest assured that the individual you approve to occupy your property will treat it with appropriate care and consideration.
Management Fees
Our management fees accurately reflect the quality of service we provide when managing your property. Our fees and charges enable us to provide premium services to you and your renter, enabling us to streamline the investment property journey and maximise your return on investment.
WHEN CHOOSING AN AGENT TO MANAGE YOUR VALUABLE INVESTMENT PROPERTY… MAKE SURE YOU ARE COMPARING
APPLES WITH APPLES.
NOT
with 
Some agents will initially quote you what seems like a lower management fee in order to get your business but then charge you hundreds of dollars a year in ‘extra fees’ which will in the end cost you much more than our ‘All inclusive’ Professional Management Fee.
| Management Procedure | Finning Fn | Other Agent | Management Procedure | Finning Fn | Other Agent |
| Annual Rental Review | No Added Charge | Extra charge | Twice Yearly External Property Inspection | No Added Charge | Extra charge |
| VCAT rental notifications | No Added Charge | Extra charge | Managing Maintenance & Repairs | No Added Charge | Extra charge |
| Annual market Analysis | No Added Charge | Extra charge | Pro Advice on any Real Estate Matter | No Added Charge | Extra charge |
| Lease Renewal Renter Negotiation | No Added Charge | Extra charge | Payment of Authorised Invoice | No Added Charge | Extra charge |
| Regular Rental Statements | No Added Charge | Extra charge | Service of VCAT Notices when require | No Added Charge | Extra charge |
| EOFI Statements | No Added Charge | Extra charge | Contactable 24 Hours / 7 Days a Week | No Added Charge | Extra charge |
| Twice Yearly Internal Property Inspection | No Added Charge | Extra charge | Urgent After – Hours Maintenance response | No Added Charge | Extra charge |
The ‘Extra On-Going Fees’ charged by other agents can run into hundreds of Dollars a year extra & make what may initially seem like a cheap management fee, many times more expensive than the professional all-inclusive fee from our company.
Please chat to us anytime about how our all inclusive package works for you to save you time, stress & money each & every year.
Property Vacancies
Without doubt, one of the greatest sources of income loss to a *R.R.P is the rental forgone during the period a property is vacant between tenancies. This can result in the loss of hundreds of dollars of income to the R.R.P but this loss can be significantly reduced if the Agent is prepared to commence the process of finding a new renter as soon as they receive a Notice to Vacate from the outgoing renter.
Some agencies do not commence the marketing of an available rental property or start to show prospective renters through the property until the former renter has vacated and the property is empty. At Finning First National, we always seek the cooperation of the outgoing renter to enable us to market the upcoming availability of the property to prospective new renters at the earliest possible time. In the majority of cases the existing renters are happy to allow at least some inspections prior to them vacating and that way we often have an absolute minimum of time during which the property is vacant and thereby earning the R.R.P no rental income.
Consider that you own a property which is rented at $400 per week. If the property is vacant for as little as 3 weeks in a year due to poor management of the tenancy changeover, the loss in rent received by you would be $1251 which equates to almost 6% of your rental income.
A less professional agent who charges you 4% or 5% (plus additional expenses) to manage your property but does not minimise the potential cost of the vacancy period may end up costing you far more than a more professional agent who may charge you a higher management fee but minimises any potential losses through vacancies due to the way in which your property is managed. At Finning First National we do everything possible to minimise R.R.P losses through any vacancy of their property and to maximise their income at all times.
Rental Arrears
Understandably, one of the greatest worries which most R.R.P’s have is the issue of their Renter failing to pay their rent on time and thereby falling into arrears.
The vast majority of Renters are genuine and honest and always pay their rent in accordance with the requirements of their rental agreement. It is a reality however that a handful of renters are tardy with their payments and in some cases personal circumstances lead to them falling behind in their rental payments.
Government legislation sets out firm guidelines on how an Agent can deal with rental arrears and at Finning First National we follow a strict procedure in relation to this issue which minimises any delays in pursuing overdue rental.
Our determined goal is to deal with all rental arrears as fast as possible in order to minimise any potential loss of rental income for our R.R.P’s. The procedures we follow are:
- A 3 day SMS or phone call reminder to advise the renter that their rent is overdue
- A 5 day phone call to the Renter and a call to advise the R.R.P of the situation.
- A 7 day reminder letter / email to the Renter
- A 10 day letter / email of demand to the Renter
- A “14 Days in Arrears Notice to Vacate” is formally served upon the Renter on the 15th day .
If the rental arrears are not rectified, the R.R.P’s approval is sought to refer the matter to VCAT for a determination and order. The fee for an Application to be made to VCAT is $68.50 and in the event that we are required to represent the R.R.P and appear at a VCAT hearing, the cost of that attendance is $250 inclusive of GST*.
Our stringent screening and selection procedures ensure that the vast majority of our Renters do not present any significant arrears' problems and in almost all cases, the above procedures ensure that minor arrears issues are dealt with promptly and efficiently.
Some forms of R.R.P Insurance policies will actually cover R.R.P for unrecoverable rental arrears and your Property Manager can assist you with relevant information on the types of insurance available to you.
*VCAT fees are subject to change
FAQs
1. How do you establish my property's weekly rental value?
Our agents compile a Comparative Market Analysis (CMA) to establish the maximum rent achievable within the shortest possible time frame. The CMA takes into consideration the demand and current availability of competing properties and factors such as location and features.
2. Can I access my property while Renters are in place?
Yes. When there are Renters in place, we do have to respect their legal rights to peaceful enjoyment of the property, however, with the appropriate notice you are still able to access your property. If you would like to complete an inspection of the premises, we need to give the renters a minimum of 24 hours written notice, however, if you would like to attend to maintenance, or inspect major works, or repairs that have recently been completed, you are able to access the property with a minimum of 24 hours written notice to the Renter, which our agency can arrange on your behalf.
3. Do I really need landlord insurance?
We do recommend landlords take out relevant Landlord Insurance to protect against unexpected costs. Landlord insurance is a very specialised field, please don't assume your normal insurance will cover you for all you may need. If you have any questions with Landlord insurance please contact our team and we can put you in touch with experts in this space.
4. What happens if the Renter falls behind with their rental payments?
Our office has a zero-tolerance policy when it comes to rental arrears. Once a Renter has exceeded a 48-hour grace period to account for banking delays we begin our arrears procedure, issuing a text / phone call / email message reminding them of their obligations to always remain in advance with their payments and advising of the possible consequences for defaulting with payments.
5. Should I allow pets at my property?
By not considering applications from Renters with pets you are immediately eliminating a large number of prospective Renters. We understand that while you do not want to limit prospective Renters, your investment needs to be protected so if you are willing to consider applications from Renters with pets, we conduct additional 'pet checks' and request that strict additional terms of tenancy be adhered to. These additional terms relate to the management of their pet throughout the tenancy and the maintenance of your property’s condition.
6. When do I receive payment of rent monies?
We will pay rent monies received by us to your nominated account within 72 hours, most times quicker than this.
6. How often are routine inspections carried out?
Upon initial signup of your new Renter in certain circumstances we can conduct a routine inspection at the 3 month mark of their rental agreement at your request. It is standard policy to conduct them 6 monthly and you have the option to attend.