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PROPERTYMANAGEMENTGUIDEFOR INVESTORSsunshine coast | brisbane

My name is Edwin Limque and I am the Principal of ilookproperty.Firstly, thank you for considering us to manage your investment property. I hope you find this booklet informative and I am sure you will discover that your investment property will be in highly capable hands with the ilookproperty team.A little history about me. I had a strong interest in real estate from an early age, and subsequently purchased my first investment property on my 21st birthday in 1990. Several buys and sells over the pursuing years increased my passion for property where I diversified from my 15 years in finance and management to purchasing my own real estate office in 2003. We have continued from where we started with specialising with residential sales and property management throughout that period and have continually worked towards improving the systems and processes in the changing property landscape.With the knowledge I have acquired during the past 30 + years, I understand very clearly what it takes to effectively manage a property to get the maximum return with the least amount of financial outlay and stress. I lead and work with a proactive property management team that have a clear understanding of what is expected, and we continually strive to make the management of an investment property as stress free as we can. ere is a minefield of risks in the property management sector and combined with the ever-changing legislative requirements that are imposed on investors, it is prudent that you have a professional and expert team of managers to look after you. Our business objective is to protect and increase the value of your property, minimise risk and improve the return of your investment. is is why entrusting ilookproperty with their dedicated and reliable team is crucial in the effective management of your property. Please feel free to contact me directly on 0419 713 388 or any one of my team if you have any questions or queries relating to your real estate needs. I look forward to the prospect of working with you in the years ahead.• Protect and increase the value of your property• Minimise risk• Improve the return on your investmentFrom the Principal’s Desk

A WORD FROM MATT...Managing and developing a large portfolio of property rentals, Matthew ensures that his owners are well informed about all areas of property management and are equipped to maximise their rental returns. With a background in sales there is no one better when it comes to advertising your investment property: “Ibelieve in not just showing properties to rent, rather selling it as a lifestyle to potential tenants or buyers”.Matthew strives to make your investment simple; believing an owner should earn a return while he manages everything in between. Building strong relationships with not only vendors and landlords but also tenants, Matthew has been complemented on his effective management and negotiating skills. Matthew is available to answer any questions you have related to investing in Brisbane on 0416 252 289.Matthew Groves is the Manager of ilookproperty Brisbane South. He has a wealth of real estate knowledge and is very passionate about the Real Estate industry.

4Selecting the right property manager is one of the most important decisions you’ll make. It can make a difference not only to your overall returns, but also the enjoyment of your investment.Property management has undergone a significant transformation, from simply a rent collection service to a dynamic investment management and service system. e changing scene has brought about the need to appropriately manage new legislation and the consequences to ensure fairness for both owners and tenants alike.It is important to realise that together with the legislation comes a greater onus on owners and agents to follow the requirements of these laws. Now more than ever, it is prudent to ensure that your property is professionally managed by entrusting it to a manager who is trained, experienced and equipped to meet these ever-changing needs.REAL ESTATE SPECIALISTSYOUR LOCAL

5WHAT WE OFFER...We are invested ● Be available for any questions you may have ● Professionally screen and select your tenants ● Arrange for repairs and maintenance ● Pay accounts such as water services and council rates (if requested) ● Claim water usage from your tenants if the property is compliant ● Professionally and accurately report on the condition of each property during each tenancy by providing you with written quarterly inspection reports ● Complete detailed entry/exit condition reports for each tenancy including taking comprehensive images of your property (usually around 800 to 1200+ images based on property size) to support the entry condition report ● Perform a half yearly market review ● Perform a TICA (Tenant Default Control Database) check on every applicant ● Adhere to Residential Tenancy Act (RTA) laws ● Have a ZERO tolerance towards rental arrears. We action rental arrears firmly in accordance with Residential Tenancy Authority (RTA) laws ● Re-let your property at the end of each tenancy in the event of a vacancy. is includes marketing your property on multiple website portals within 48 hours ● Pay available rent twice monthly to ensure you receive your money to your account soonerWe will guarantee that we’ll do the following for your peace of mind:

GETTING YOUR PROPERTY READY FOR NEW TENANTSPR PERTYPREPARATI N

7MAINTENANCEKEYSCLEANINGIt is advisable to attend to any maintenance prior to the property being leased, as tenants are likely to report this for attention once they move in. Legislation states that at the start of the tenancy, the lessor must ensure the premises is in good repair, and that no health and/or safety issues are present for person/s using or entering the property. Once a maintenance request has been reported, QLD tenancy law requires you to attend to the repairs within a reasonable time frame or they can issue a breach for failing to keep the property up to standard and seek compensation.Ilookproperty have close relationships with our preferred tradesmen, who we have carefully selected and have found to provide excellent service and professional workmanship.We also recommend a termite and pest inspection annually and a pest control treatment for cockroaches, spiders and ants to be carried out prior to letting.We require 3 sets of keys for the property, as generally 2 sets will be required by the tenants and a full office set for our use. Please be advised that the property is required to be secure at all entry points in accordance with the Residential Tenancies Act section 103 and 120, and as such request that you ensure al locks are working, and keys for all locks be provided prior to the property being let.e property needs to be thoroughly cleaned before the tenants move in. is includes ovens, rangehoods, light fittings, dishwasher, exhaust fans, windows, and blinds.Queensland Law states that a vacating tenant is to return the property in the same condition as the entry, fair wear and tear excepted. If the property is handed over to them unclean, it can not be expected that it will be returned to a better condition at vacate. Legislation states that at the start of the tenancy, the lessor must ensure that the premises are clean and fit for the tenant to live in. As a guideline, our office has compiled a guide of the standard of cleanliness we expect when handing over a property. We have presented it as an easy to follow checklist for each room. Please request a copy from one of our friendly team, or we can arrange one of our professional cleaners to do it all for you. It is also preferable that the carpets be professionally cleaned, as this also sets a standard for the tenants when vacating the property.

8ComplianceDid you know that you can charge your tenant for water consumption? QLD tenancy laws and regulations enable you to pass this cost on if you meet certain water efficiency guidelines at the commencement of a new lease. How to tell if your property is considered water efficient: ● Internal cold water taps and single mixer taps (excluding bathtub taps and taps for appliances) have a maximum flow rate of 9 litres per minute ● Shower heads have a maximum flow rate of 9 litres per minute ● Toilets have a dual flush function not exceeding 6.5 litres per minute on half flush and maximum average flush volume of 4 litres (based on the average of 1 full flush and 4 half flushes) ● No leaking taps anywhere on the premises at the start of the tenancy or when the other water efficiency measures are installedA special note on taps:Only internal cold-water taps installed over a hand basin, kitchen sink or laundry trough (including single mixer taps) need to be water efficient. Other taps such as bathtub taps, outside taps for the garden, or taps which supply washing machines or dishwashers do not have to be water efficient to meet the requirement.If you meet these requirements, you can charge your tenant for water consumption if: ● Your property is individually metered (or water is delivered by vehicle), and ● the property is water efficient, and ● the tenancy agreement states the tenant must pay for water consumptionHowever, there are some things you can’t charge your tenant for – all fixed charges (you cannot charge more than the billable amount).No, it’s completely optional but if you wish to pass on water consumption charges, the Residential Tenancies Act 2010 states your property must be water efficient which includes the installation of water saving devices before you can charge your tenant. We’d highly recommend you do however as this could save you hundreds of dollars a year.Is it a requirement I install water efficiency devices? WATEREFFICIENCY

SMOKEALARMComplianceIs your property compliant with smoke alarm legislation? Legislation was introduced into Queensland in 2017 which places obligations on landlords and property owners in relation to the installation and maintenance of smoke alarms in all properties. ● To only install or use as replacements photoelectric smoke alarms which comply with the Australian Standards in your property. ● To have all smoke alarms in your property operating when tested and they must be interconnected, e.g. if one smoke alarm sounds, the others will also sound. ● To have smoke alarms installed in every bedroom of a home. If one or more of the bedrooms are connected by a door to a hallway, a smoke alarm must also be installed in the hallway. In dwellings where a hallway does not connect by a door to the bedrooms, a smoke alarm is required in a location between the bedroom and the remainder of the dwelling. ● To have all smoke alarms powered by either 240 volt or a 10-year lithium battery, and each smoke alarm and battery must be replaced before the expiry date. ● To have the smoke alarms in your investment properties tested and cleaned within 30 days prior to each tenancy change or renewal. Your tenant is responsible to test and clean each alarm and replace batteries if necessary, every 12 months. ● From 31 December 2021, if your property doesn’t have interconnected, photoelectric smoke alarms and you either sell, enter into a new tenancy agreement or renew an existing tenancy agreement, you will need to replace all non-interconnected, non-photoelectric smoke alarms with interconnected, photoelectric smoke alarms. ● From 2026, if your property doesn’t have interconnected, photoelectric smoke alarms you must now replace them with interconnected, photoelectric smoke alarms.From 1st January 2017, your obligations are:Photoelectric smoke alarms ‘see’ the smoke. ey detect visible particles of combustion and respond to a wide range of fires, but they are particularly responsive to smouldering fires and the dense smoke given off by foam filled furnishings or overheated PVC wiring. Research has shown that they are more effective and respond significantly faster than ionization alarms, allowing you precious time to get you and your family to safety. Ionisation smoke alarms ‘smell’ the smoke. ey detect invisible particles of combustion, e.g. from cooking toast. ey activate more quickly for fast, flaming fires with little visible smoke.What is a Photoelectric smoke alarm?

As a property owner:A Pool Safety Compliance Certificate is required to be issued before a Lease Agreement can be signed. Local governments have the power to investigate compliance with pool safety standards and can issue fines on the spot or take the owner responsible to court.You can find more specific information, including the required measurements on the QBCC website https://www.qbcc.qld.gov.au/home-building-owners/pool-safety We strongly recommend that the pool be serviced monthly by a professional pool company. ilookproperty have a number of trusted pool companies on our books that we can recommend. Monthly service costs are an owners expense, however tenants are responsible for all chemicals required at and between these services. e team at ilookproperty want to see everyone have a wonderful and safe time by the pool all year round!POOLComplianceProperties with pools are always in hot demand during the warmer months in Queensland, particularly to families with small children. Unfortunately, one of the leading causes of death in Queensland for children under five is drowning, which is why it is very important to ensure your pool is safe and compliant with Queensland safety standards. So, what are your obligations as a Landlord? ● Ensure your pool has an up to date Pool Safety Certificate. is needs to be certified by a compliance professional every 2 years for an investment property ● Maintain the pool fence and repair any damages immediately ● Ensure the fence and gates meet the required measurements ● If any windows open to the pool area, they must have security screens fitted. ● A compliant CPR sign is displayed and clearly visiblePool compliance is essential. Are you compliant?

CONNECTION & REDIRECTIONGAS POWERPOSTIf your property has gas supplied, please ensure you contact your gas provider and let them know you are the owner and your property is being tenanted. Please advise ilookproperty who your supplier is, as this will assist the new tenants when organising their own connection. We can organise gas connection and compliance for you if you have just purchased the property. Gas suppliers require a copy of the Gas Compliance Certificate prior to delivering gas to the property, and it is best practice to supply this certificate to any new tenants on commencement of their lease. Ilookproperty provide our tenants with an easy connection service provider that will assist with getting all amenities connected before entry date, guaranteed.To allow us to carry out an Entry Condition report, there needs to be power supplied to the property so that we can check all lights and electronic devices are in good working order prior to your tenants moving in.If you are vacating the property, don’t forget to redirect your mail through Australia Post.Please provide copies of all user manuals for air conditioners, ovens, pool equipment and other appliances that will be in the property if possible.

12LISTING CHECKLISTIs your property ready?Please discuss the following items with your representative to determine who will complete each task.If not already compliant, arrange our qualified plumber to inspect the property and provide a free quote. Once approved, complete the necessary improvements and issue a water complaince certicate to claim 100% water usage.WATER EFFICIENCYArrange for our authorised inspectors to comply the property and carry out the necessary improvements in accordance with QLD legislation.SMOKE ALARM COMPLIANCEElectricity needs to be connected to allow us to showcase the property to prospective tenants and complete a quality Entry Report (including photography).ELECTRICITY CONNECTEDPlease provide your agent with 2 keys for every lock in the property PLUS one entry set (a key to the front door plus any screen doors if applicable).KEYSIf applicable, please ensure you have two remotes for each remote garage door and copies of any manuals for air conditioners, ovens etc.REMOTE CONTROLS & MANUALSPlease ensure the carpets are cleaned to a professional standard, as this will be the standard upon which the carpet is to be left upon vacate - less fair wear and tear.CARPET CLEANINGPlease complete a general pest treatment and a flea treatment if pets were at the property.PEST & FLEA TREATMENTIf there is a pool at the property, please provide a pool safety certificate to comply with Qld legislation. ilookproperty will arrange a pool company to service the pool monthly. e cost of the service will be the owners responsibility and the cost of the chemicals will be the tenants responsibility.POOL CERTIFICATE & POOL SERVICEPlease ensure a bond clean is conducted to a professional standard at the property at least 7 days prior to the property being leased.BOND CLEANN/A OwnerAgency

MARKETINGPROFESSIONAL MARKETING AND WIDE EXPOSURE IS THE KEY TO ATTRACTING MORE INTERESTSTRATEGY

To make your property stand outQUALITY IMAGESWe aim to use as many images as possible when advertising your property online to showcase the features of the home so that we can attract more attention and interest. At ilookproperty, we use a high quality HD digital camera to take photos, and we also provide you with the option to have enhanced images at a low extra cost. Please ask our property manager for more information on this service.Get maximum reachEXPOSURE ● realestate.com.au ● domain.com.au ● ilookproperty.com.au ● rent.com.au ● homely.com.au ● homehound.com.au ● thehomepage.com.au ● onthehouse.com.au ● realty.com.au ● linktosale.com.au ● ilookproperty social media We advertise your property for rent on the following websites:Match AlertsWe provide a match alert service that automatically notifies registered potential tenants when a property has been listed that matches their specific criteria via SMS and/or email. Rental ListWe often have potential tenants walking into our office to enquire about properties available to rent, so we also have a copy of our rental list readily available to hand out at the front counter. We also have a rental feature in our window display for after-hours viewing or passers-by.

15We use the latest inspection software to capture all tenant enquiries for your advertised property for every website portal into one, easy to manage system.It automatically books, confirms and sends reminders to potential tenants about open times, leaving us more time to focus on the other important tasks and be ready to greet your potential new tenants at every inspection.If there are current tenants residing in the property we ensure we are courteous and provide as much notice as possible.“Kate was the property manager of a unit I inspected this week and I wanted to say how positive and empathetic I found Kate to be. Kate was there early, opened up the unit, turned on the lights, opened the doors so as to give the best impression of the unit.Whatever question Kate was asked she knew the answer to. ere were a lot of people looking around and also asking Kate questions which she handled very professionally, calmly and with a nice cheerful disposition. So very refreshing. It is confronting inspecting properties when there are so many other people looking as well. But this time I drove home thinking, that was a really great inspection!”“Linda - Via GoogleProperty for rentOPEN FOR INSPECTION

QUALITY INSELECTING THE MOST SUITABLE TENANTS WILL GIVE YOUR INVESTMENT A BETTER CHANCE AT SUCCESS= QUALITY UT

17TENANT SELECTIONOur stringent selection criteria ● TICA (national tenancy database) check for any negative history ● 100 points identification ● Utility bill verifying name and current address ● Payslips/income statements ● Bank statement showing income deposited ● Reference from current and previous managing agent/landlord ● Applicant suitability assessed ● Pets assessed and considered on a case by case basis ● Application required for every occupant over 18 ● Bond and 2 weeks rent in advance at commencement of tenancy ● Current tenancy ledger reviewed for payment conductTenants are required to meet strict criteria when applying for any of our properties:“e team at ilookpoperty have been managing our property for the past seven years. I always wished this team could train all my other property managers around the country as they did such an excellent job. Even though we had never met any of the team in person, our email and phone contact was always prompt, polite and personal”“Emily - InvestorTENANT SELECTION

● Detailed explanation of every chattel, fitting or appliance ● Detailed description of walls including scuff marks and dents ● Note of all working and non-working fittings ● Supporting images of all dvescriptive damage ● Images of every wall and corner in every roomAt ilookproperty, we pride ourselves on having the most detailed and thorough entry condition reports in the industry.is protects you against future problems that may arise during the tenancy. ese reports keep track of damage, or upon vacating the property, ensure the home is returned as close to the original condition as possible.An example of a comprehensive Entry Condition Report should include the following:“Matthew Groves from ilookproperty provided exceptional service as a property manager for our investment home. He was discerning with tenant selection and had the available resources to quickly resolve any issues relating to the property and it’s amenities. ese positive attributes and the competitive commission rate ensure I would make Matt my first choice in the future.”“David - InvestorENTRY CONDITIONTENANT SELECTIONOur reporting procedureENTRY CONDITION

19 ● Conveniently pay the bond to secure a property ● Setup automated rent payments on a day that suits ● Make one off payments for water, electricity or other bills ● Earn rewards to purchase discounts at selected major retailers ● Pay rent with either a Visa, Mastercard or Amex (and potentially earn more rewards if the card offers one) ● Take advantage of a Bond Finance option for eligible tenants to pay bond over 12 monthsOne of the challenges every landlord faces is the security of knowing the tenant will pay their rent on time consistently. To minimise this risk, we have implemented an innovative new system and the name says it all – Simplerent. Simplerent provides tenants with a ‘set and forget’ direct debit system to pay their rent and REWARD them at the same time.At ilookproperty, we like to make real estate simpler for all our clients - especially for our landlords and tenants.How does it work?Tenants can simply opt-in and ilookproperty will take care of the setup. ere is a small transaction fee charged to the tenant on top of their scheduled payments and penalty fees apply for late payments. ere are no fees or charges to the you for this service.What are the Rewards?Tenants that sign up to use the Simplerent rent system will automatically receive an email with instructions to download and access the SimpleDiscounts Program. Tenants who make the most of using SimpleDiscounts for everyday shopping needs can potentially save more than a week’s rent per year through vouchers and product discounts.ENTRY CONDITIONTENANT SELECTIONe easy way to collect rentSIMPLERENT

PROTECTING YOUR INVESTMENT PROVIDES PEACE OF MIND FOR THE FUTUREPREVENTION IS THE BEST PROTECTI N

Everyone knows the importance of house insurance and why, but when it comes to an investment property, is standard house insurance enough?ere are risks when renting an investment property that can be very costly. Landlord insurance is an extra layer of security that covers a property owner for financial losses relating to their rental properties.In our opinion - yes. ere are other unforeseen factors that may change your tenants’ circumstances in the blink of an eye. Here is just some of the possibilities that could go wrong and leave the tenant and owner in a dire financial situation: ● Tenant loses their employment ● Tenants’ relationship breaks down ● Guests cause damage to the property ● House becomes un-tenantable which causes loss of rent ● Death of a tenant ● Vandalism or theftese circumstances can leave the owner liable for expensive legal fees, repairs, re-letting fees and mortgage payments generally covered by the rent. Shockingly, only one in five Australians have adequate cover in their insurance policies.Landlord insurance is a policy that covers you against loss of rent due to a tenant’s rent default, the theft or burglary of any belongings you have leased to your tenants, and natural disasters such as storms. Most policies also include cover for the building due to unforeseen damage such as fire, flood and storm damage (very important in QLD), but it is the loss of rental income that is often the most valuable.I have fantastic tenants who look after my property and always pay on time. Do I really need it?What does landlord insurance cover?When selecting a policy, don’t just focus on the best premiums when making your decision. Some other important considerations should be the amount of cover offered and the excess you will be required to pay should you need to make a claim. Lower premiums may mean a higher excess or you may not be adequately covered for certain circumstances. is can leave you even more out of pocket. We recommend you consider your current tenant’s situation and review this each time a new tenant leases your property (i.e. - if your tenant has a dog, ensure your cover includes pet damage). All premiums are tax deductible so keep this in mind at tax time.What should I look for when choosing landlord insurance?LANDLORDINSURANCEProtecting your investment

Routine inspections are vital in ensuring your property is being kept in top condition throughout the tenancy, not just when your tenant vacates.We pride ourselves on providing detailed and thorough routine entry reports with supporting photos straight to your email, so you are always informed on how the tenants are looking after the home. Our routine inspections are carried out one month after a new tenant moves in, and 3 monthly thereafter. While we are at your property we will also check for any maintenance requirements and notify you immediately if we notice any damage while carrying out a routine inspection we will ask the tenant to rectify it immediately. Every routine inspection we carry out will be sent directly to your online property owner portal and you will be notified by email when it is ready to view.THERE’S A BIG DIFFERENCE BETWEEN DOING WHAT IS REQUIRED AND DOING WHAT IS EXPECTED.What to expectROUTINE INSPECTIONS

We use leading technology for the real estate industry so you can have access to all your property information 24/7. No more waiting to call or having to email a request, simply login and get what you need.BEST PART OF THIS SYSTEM? WE CAN DO OUR JOB MORE EFFICIENTLY SO WE HAVE MORE TIME TO SPEND WHERE IT IS NEEDED MOST  LOOKING AFTER YOUR PROPERTY!With our latest cloud-based software, you will have 24/7 access to all your property information in one convenient place with your own personal login to the online portal.Now you don’t have to waste time searching emails to find financial documents or wait until the next disbursement to find out how much funds you will be receiving. Owners can: ● See the current financial status of all their properties ● View photos and details of the property and tenancy ● Drill into financial activity ● Download historical statements, bills and documents ● Keep track of jobs and inspectionsTenants will also have 24/7 access to certain information regarding their lease.Tenants can: ● View property and lease information ● See when rent and bills are due ● Log and monitor maintenance requests ● Message dedicated property manager directly ● Download rent receiptsOwner Access Tenant AccessOWNER & TENANT PORTALS

24Ready to sign up, or need more information regarding our professional services?Give one of our experienced team a call today and they will be happy to provide you with all the advice you need to make the process as smooth as possible.We have the professionalism and enthusiasm to ensure that your investment returns are maximised while ensuring your rental property is as stress free as possible.Multiple properties? Should you have more than one investment property in your portfolio, we offer an attractive package rate. We will be happy to discuss a personalised package for your needs.YOUR MANAGEMENT SPECIALISTSSunshine Coast1/3 Kawana Island Boulevard, Warana, Qld, 4575P: 07 5437 8393E: property@ilookproperty.com.auBrisbanePO Box 151, Calliope, Qld, 4680P: 0497 144 680E: property2@ilookproperty.com.auGladstonePO Box 3519Tannum Sands Qld 4680P: 07 5437 8393E: property@ilookproperty.com.au