In 2009, new smoke alarm regulations (Building Amendment Regulation 2009) came into effect which state all rental properties must be fitted with hard-wired (mains powered) smoke alarms. It also became the responsibility of the property owner to ensure that these smoke alarms were maintained and in working order at all times.

RCD’s
Changes to the Electricity Act 1945 that took effect on 9 August 2009 require all residential homes to be fitted with two residual current devices (RCD’s). As a landlord, it’s your responsibility to ensure that your property has these RCD’s fitted before a new tenant takes up occupancy or before August 2011 for continuing tenancies. We’ve been informed that electrical inspectors will be monitoring leased properties for compliance. If your property is in breach, you could be facing a penalty of up to $15,000.

If you’re unsure of your responsibilities, or if you would like more information about installing smoke alarms and RCD’s, please contact us.

(Image credit: Bob Jenkins)

Regular property inspections are important for a number of reasons.

1. We can check on the general condition of your property.
2. We ascertain whether maintenance and repairs need to be done.
3. We check to see if any seasonal repairs or capital works issues need to be addressed.
4. We touch base with tenants.
5. We use the opportunity to review the rent being charged on the property.

What we do during an inspection.
A routine property maintenance inspection is carried out every three months and takes about 15 minutes to complete. During the inspection, our Property Managers;

• Check that the gardens, lawns and exterior are neat and tidy and in good order.
• Check the general cleanliness of the interior; including the oven and griller, bathrooms, toilets, carpets/floors coverings, light fittings, bench tops and surfaces, exhaust fans, mirrors, curtains, windows and flyscreens etc.
• Ensure any pets kept on the property are not causing damage.
• Note the condition of any recently repaired areas of the property.
• Check for seasonal maintenance issues that need to be taken care of.

We’ll also have a quick chat to the tenants (if they’re in attendance) and make sure there are no outstanding maintenance issues or changes to their situation that we need to be aware of.

If there are any major issues or breaches of the lease, we give the tenants 14 days to rectify the problem before going back for a second inspection.

Once the inspection is done, your Property Manager will complete a written report. We’ll include any relevant photographs and suggestions for preventative maintenance that may need to be carried out in the next few months. We send a copy of this report to the property owner and keep a copy on file for our records.

A well-maintained property will appreciate rather than depreciate in value, so it’s important that we keep an eye on the general upkeep and condition of all the properties we manage. If you have any questions about our regular routine property inspections, please get in touch.

We’re busy, busy, busy!

To help cope with our busyness, we’ve welcomed a few new faces to the team. We’ll be introducing everyone in greater detail over the coming months, but for now it’s a big welcome to Property Managers Catherine Boston and Mitchell Zile, Assistant Property Managers Alyshia Morris, Esther Nilson and Jake Tudor, and Business Development Manager Coralie Moretti.

Welcome aboard everyone!

Hazel is one of the most experienced members of the Rentwest team. With more than thirty years in the real estate industry, Hazel has done everything from land development to property management. She has also held several senior management positions with a number of industry leading firms.

Highly skilled, well versed in all aspects of property management and very customer focused, Hazel has successfully managed a portfolio of over 1000 properties throughout her career. She is an excellent problem solver and enjoys the many challenges that the job entails.

Choosing the perfect investment property is not an easy task. You’ll need to invest some time for research and you’ll need to be prepared to do some legwork. If you’re on the hunt for your next investment property, here are five things to keep in mind.

1. Proximity to schools, shops and public transport
   Location, in real estate, is everything. The closer you are to the CBD, the better the potential for capital growth. Narrow down the suburbs you’re keen on and investigate the schools, shops and public transport options that are available. Proximity to these amenities is high on the list for the majority of tenants.
2. “Would I live here?”
   While choosing the perfect investment property is less about you and more about making smart financial decisions, you’ll need to consider the wants and needs of potential tenants. When you’re looking at new investment properties you need to ask yourself, “Would I live here?” If you couldn’t imagine living in a property, chances are tenants won’t either. Choosing a home that appeals to potential tenants is critical. The property needs to be well presented, tidy and well maintained. Creature comforts like a dishwasher and air conditioning will also help.
3. Security
   Not only is a secure home great for attracting potential tenants but it also means your valuable asset is protected, too. Look for properties with a lock-up garage, good exterior lighting, an installed (and working) security system, security screens and locking doors and windows.
4. Privacy
   A home that offers no privacy will turn potential renters off quickly. Look for properties with adequate fencing, screens or block-out window coverings. Ideally, don’t choose a property that can be looked down upon, or into, by neighbours – no one wants to feel like they are living in a fish bowl!
5. Rental returns
   Have a chat to one of our property managers to determine the type of rental returns you will see in a particular suburb. We can also give you some tips about supply and demand in the suburbs you’re interested in.

Average and exceptional property managers are poles apart. At Rentwest we pride ourselves on having a team of great property managers.

As a business, our main priorities are to ensure your property is always rented to reliable tenants and that your investment is getting the returns you want. So how do we achieve these goals?

A great property manager -

• Performs thorough quarterly rent inspections on your property.
• Negotiates the renewal of a tenancy agreement on your behalf.
• Provides recommendations for maintenance and improvements to maximise your return
• Constantly assesses market rental values and makes adjustments when required.
• Assists with organising highly competitive, comprehensive insurance cover.
• Can help organise depreciation, tax advice and other complementary services.

Exceptional customer service – always.

If you’re paying a monthly fee for a property management company to look after your investment, you expect a level of customer service that goes above and beyond. A great property manager will always go the extra mile to make sure promises are kept and you’re getting great value for money.

Rentwest is teaming up with the Department of Housing on a new project called the Rental Pathways Scheme (RPS). The focus of the initiative is to get long-term public housing tenants out of the system and into the private market by working with property management specialists like Rentwest and our owners.
The Department of Housing will individually select tenants that they deem suitable for the scheme. These tenants will:

• Have the means to rent privately.
• No longer need assistance from the Department of Housing.
• Have a good tenancy history.
• Have income that exceeds the public housing limits.

We’ve been told that the scheme isn’t for everyone and only the cream of the crop will be eligible.

Incentives offered for home owners
The Department of Housing is offering considerable incentives to get home owners on board, including:

• Guaranteed rent for the term of the lease.
• Upfront payment of up to 20% of the annual rental income. 
• Up to $5,000 compensation for any malicious damage caused by the tenant. 
• A 12-month lease with an additional 12-month option for participating home owners. 
• Dedicated staff from the Department of Housing solely focused on the RPS.

For home owners, the main benefit of the RPS is having long-term, stable tenants in your investment property.

The long, hot days of summer are certainly upon us! Contrary to popular belief, you can rack up big energy bills during the warmer months with the two worst energy wasters being air conditioners and fridges. Here are a few ideas to help keep your power bills down without sacrificing your comfort.

1. Keep your curtains and blinds closed during the day and open them up the cool of the night.
2. Make sure any draughts (under doors or windows) are fixed. If you notice you have warm air coming in through gaps, let us know and we’ll make the necessary repairs.
3. Pedestal fans and ceiling fans are energy-efficient ways to keep cool. You can reduce your air conditioner usage by using a strategically placed fan.
4. If you use an air conditioner, keep your room temperature at 24°C. Lowering the temperature by just one degree can increase your energy consumption by 5% to 10%.
5. Have a BBQ on hot summer days or nights to keep the temperature down inside your house.
6. Got a second beer fridge? Don’t run it all the time. Turn it off when it’s not in use.
7. Check your fridge seals. If you notice that there are gaps or cracks in the rubber, replace them. This will greatly improve the energy efficiency of your fridge.