So how do you make the right decision for you? Consider the following as to how we can assist compared to other companies. We are always available to have a chat when it suits you.
HouseSmart Solutions has their property managers’ look after a portfolio of between 80-100 properties. Each portfolio is a unique size to them dependant on the type of properties in it and their experience. The portfolio is run as a complete process with property managers looking after each property from leasing to the end of tenancy and everything in between. Administration assistance as well as great technology is provided for them to be able to be effective and efficient.
There is no set formula in how quickly tenants can be found for a property. There are many factors that we assess during the advertising and vacant stage. Some factors to consider are to ensure the rent is at market level, the property is in its best presentation for marketing, and timing of the year that a property is vacant. When HouseSmart Solutions advertises a property we provide a weekly report to owners giving any feedback that has been received or recommendations going forward to increase the chances of it being rented to receive cashflow.
All prospective tenants that HouseSmart Solutions accepts applications from are ones that we have met in person at property viewings. If out of town, attempts are made to have a skype chat. Once an application for a property is filed we check references that include current landlord, previous landlord, employer, and a character reference. We also check to ensure there are no Tenancy Tribunal orders against the applicant and complete a credit check. We endeavour to do these checks within a 48 hour time frame.
HouseSmart Solutions checks rents daily. As soon as a rent payment is missed a courtesy email is sent to the tenants requesting to remedy; if no result, then the next day a phone call will be made – we find most times it has been an error and is remedied by the tenant quickly. If rent has still not been received by day 3 then a 14 day breach notice is issued. If no contact has been made by day 7 then we automatically apply to Tenancy Tribunal to begin the correct legal process; tenants are notified by us that this has occurred. This application may be for an order of the rent arrears or it may even include a termination of tenancy dependent on the circumstances. HouseSmart Solutions will notify the owner throughout this process and any updates that occur. We find prevention of rent arrears lead to prevention of bigger issues!
HouseSmart Solutions conducts a full Initial Condition Inspection with every new tenancy and a report is supplied to the owner. This initial inspection has photos taken of the whole property with any defects recorded. Routine Inspections are conducted every 3 months with a report supplied to the owner. Our reports contain 4 sections; general condition of the property, maintenance we believe that needs to be attended to now, maintenance that we recommend catering for in the future, and any other notes from the property manager. HouseSmart Solutions also conducts a Final Inspection for any ending tenancy with a report supplied to the owner. All our inspections include photos of the property and any maintenance matters that may arise.
Rental income is paid twice a month – 1st and 16th, or the next business day if these dates fall on a public holiday or weekend. If any property incurs costs for repairs/maintenance, fees, or any other costs that may arise this will be deducted from the rental income before payment is made. A remittance is sent to owners to advise expected income that they are to receive in their bank account on the 16th. A full statement for the month showing rental income and expenses, with copies of any invoices, is supplied with the payment on the 1st.