Property Management Proposal
12/1059 Malvern Road, Toorak
Mr Andrew Telling
Dear Andrew,
Thank you for the opportunity to appraise your property and offer our thoughts and recommendations on the leasing and management of your valuable asset.
Choosing the best agent is vital. The right agent brings you personal and financial confidence by greatly influencing the performance of your investment.
Kay & Burton provides a unique, bespoke service dedicated to anticipating your requirements with the ultimate aim of securing the best renter, at the optimum rental level on your preferred terms and conditions.
This document will give you an overview on:
- Who is Kay & Burton
- Current Market Conditions and Estimated Rental Value
- Preparation and Presentation
- Your Business Manager
- Supporting Team
- International Team
- Suite of Services
- Leasing Process
- Marketing Your Property
- Web Portals and Design House
- Marketing Calendar
- Why Kay & Burton
- Leasing and Management Fee
- Proposed Schedule of Charges
- Fees and Charges Explained
It is a privilege to work with you and we look forward to establishing a long term and mutually rewarding relationship.
Kind Regards,
- Darren McMullin
- Partner, New Business & Corporate Leasing
- 0433 826 737
- dmcmullin@kayburton.com.au
Who is Kay & Burton?
Kay & Burton sold its first house in 1938, and over the years, our success has seen branch offices established across Victoria to meet the growing demands of discerning property clientele.
One of the first real estate agencies in Australia to be co-founded by a woman, Kay & Burton were innovators from the beginning, and later regarded as one of the first to sell and manage new developments and apartments along Melbourne’s iconic St Kilda Road.
Kay & Burton always had the intention to be a boutique business with specialist knowledge of the premium marketplace. We have maintained this direction throughout our history and operations have expanded to seven offices across Melbourne’s east and on the Mornington Peninsula.
Just like all those years ago, our formula remains simple: impeccable service, reliable advice and an eye for what’s just over the horizon.
- This rental price assessment is an opinion only and should not be construed as a valuation as prepared by the licensed valuer. Our appraisal of the rent is likely to be achieved for the property in the current rental market.
- Rental assessments are generally affected by the following factors including but not limited to seasonal demand, general market supply and demand, change in the state of the economy, local market fluctuation, changes to the improvements and land at the property itself or neighbouring properties, infrastructure and the appropriate marketing of the property.
- This information is solely for the use of the person requesting the appraisal but should not be relied upon for any purpose.
Current Market Conditions and
Estimated Rental Value
Currently the Toorak rental market is seeing exceptional demand for 2 bedroom apartments.
After careful consideration of the unique characteristics of your property, together with a thorough research of comparable rentals within the immediate area, we believe that the rental achieved will be in the vicinity of $680.00 to $700.00 per week .
Our aim is to select the best renter in the shortest time frame under the terms and conditions that suit your requirements. Some renters may well be prepared to pay a premium for location to particular amenities or positioning within a certain building or area.
In assessing this rental, we take into account a number of elements that can influence the rental market. The following factors can cause fluctuation in supply and demand in Melbourne. These include current vacancy rates, interest rates, currency rates, availability of similar properties at the time of marketing as well as seasonal relocation trends of prospective renters. Other important considerations are location, accessibility to transport, schools and the condition and presentation of your property together with any unique attributes as well as the term of lease available to a prospective renter.
Preparation and Presentation
Property preparation and presentation can play a crucial role in time on market, the quality of the interested renter pool and ultimately the rental achieved.
For your property we recommend the following to maximise the effectiveness of the marketing campaign:
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- This rental price assessment is an opinion only and should not be construed as a valuation as prepared by the licensed valuer. Our appraisal of the rent is likely to be achieved for the property in the current rental market.
- Rental assessments are generally affected by the following factors including but not limited to seasonal demand, general market supply and demand, change in the state of the economy, local market fluctuation, changes to the improvements and land at the property itself or neighbouring properties, infrastructure and the appropriate marketing of the property.
- This information is solely for the use of the person requesting the appraisal but should not be relied upon for any purpose.
Disclaimer: The information contained herein is to be used as a guide only. Although every care has been taken in the preparation of the information, we stress that particulars herein are for information only and do not constitute representations by the Owners or Agent. Sales data is provided as a guide to market activity, and we do not necessarily claim to have acted as the selling agent in these transactions
Your Business Manager
Darren McMullin
Partner, New Business & Corporate Leasing
Evelyne Surja
Leasing & New Business Consultant
Richard Yapp
Property Manager
Debbie Davut
Manager, Fully Furnished & Corporate Leasing
Nathan Emmett
SENIOR PROPERTY MANAGER
Darren McMullin
Partner, New Business & Corporate Leasing
Hudson Keppell
Leasing & New Business Consultant
Kay & Burton International Team
Suite of Services
Kay & Burton have strategically placed offices to service properties in Stonnington, Boorondara, Bayside, and the Morning Peninsula. Our expert local area managers are well positioned to provide an answer to all your property management needs.
Our complete range of services include:
- Property Management
- Corporate Leasing
- Furnished Leasing
- Coastal and Holiday Rentals
- Vacant Property Management
- Commercial Property Management
Leasing Process
The Kay & Burton Way
As a boutique agency we apply tailored and specific attention to every property in our care. Each Property Manager is responsible for a small portfolio by industry standards. This enables great control and a closer watch on your tenancy. The Kay & Burton Way focuses our mind on each element of the experience to provide you with personal and financial peace of mind.
Property Appraisal
We approach each property as a unique and individual asset tailoring the appraisal process to get the full picture. Only once a true understanding of your home is established do we recommend the best leasing method to maximise your return on investment.
Property Preparation
Presenting your property at its best is key to getting the best outcome. At Kay & Burton we provide a full concierge service designed to make it easy for you to stage, repair, tidy or renovate your property.
Financial Management
Kay & Burton uses the latest cloud-based software to manage and monitor your property. From our Rental Provider Portal you will see a real-time snapshot of your property, rental details, financial statements, expenses, and tenancy documents. We proactively monitor key dates throughout your tenancy to ensure rent reviews and lease expirations are well managed and negotiated to suit your needs.
Marketing and Renter Selection
Kay & Burton use professionally written property descriptions and the most luxurious photograph to promote your property on the key Real Estate Portals. At this point we utilise the Kay & Burton 10 point checklist to ensure we select the very best renters for your property under the terms and conditions that suit you best.
Reporting
We take our duty of care to you seriously and use the latest in condition report software to track and monitor your tenancy. Comprehensive condition reports up to 1500 images, an increased bond is taken for properties with special features and an initial 3 month, then 6 monthly inspections are all part of the boutique service until the renter vacates.
Marketing your property
Kay & Burton's marketing strategies are targeted to ensure your property will command the attention of the most appropriate demographic. We tailor our marketing program in line with our budget and expectations. Ideally, marketing should include a combination of print media and online exposure to reach prospective renters not actively in the market place. Our strategy also includes a suite of in-house marketing tools to ensure your property receives the attention of prospective renters locally, nationally and internationally.
Web Portals
Your property is listed on Australia’s leading real estate portals and promoted to Kay & Burton’s extensive and highly engaged database of potential renters.
Kay & Burton list your property in the top position on realestate.com.au for 90 days and domain.com.au for the life of the listing. Both portals send an eBrochure to registered buyers with requirements matching your property. This ensures your property receives maximum exposure, thus reducing days on the market.
The Kay & Burton website conducts approximately 50k visitor sessions per month. The Kay & Burton email marketing program is the most engaged in the Australian real estate industry and our Instagram channel is the most engaged in the luxury Melbourne real estate market.
Design House
Photography
Kay & Burton recommends professional high quality images showcasing properties at their very best to ensure they standout above other listings in their price range. These images are stored on file and used for any future marketing campaigns.
Artwork
Floor plans can be supplied for online marketing or we can arrange a floor plan sketch on your behalf. Prospective renters greatly appreciate floor plans and it is an online point of difference to be able to supply one.
Signage
Your local area is also a great source of renters who are often willing to pay premium for proximity to local amenities. 'For lease' boards attract both active and passive renters in the market. A large photo board showcasing development would be recommended.
Drop cards
Drop cards inform residents within the immediate vicinity that a property in their area is available for lease.
Database
With our extensive corporate and private database established over the years, our division connects the global corporate elite with the best homes and apartments across Melbourne. We notify our database to your property's availability prior to marketing on web portals.
Why Kay & Burton
Small Portfolios
Unlike other estate agencies, our business is not dependent upon high volume turnover and their associated 'economies of scale.' Instead, we choose small portfolios of beautifully managed properties in a bespoke strategy that focuses on quality, attention to detail and premium service levels. Our model invests time in every aspect of leasing and management. We leave nothing to chance in ensuring our portfolios are managed professionally. With Kay & Burton, you always have our full attention.
The Kay & Burton Brand
Kay & Burton has been synonymous with premium Melbourne real estate since 1938.
A luxury marketing campaign from Kay & Burton positions your home in the pinnacle of Melbourne real estate regardless of market segment or price point.
Your home is worth more with Kay & Burton
Unrivalled Marketing Expertise
Justin Hodgson
PARTNER – GM MARKETING
25 years experience in Marketing, Digital Marketing and Product Development
Rosemary Shisler
HEAD OF ACQUISITION MARKETING
18 years luxury brand marketing experience, most recently with LVMH
Stephanie Biggs
MARKETING COMMUNICATIONS MANAGER
20 years experience in property Marketing and Communications
Pandora Varley
PROPERTY MARKETING MANAGER
20 years experience in Real Estate media operations, marketing and administration
Michelle Hu
CHINESE MARKETING SPECIALIST
Master's degree in Global Media Communication from the University of Melbourne
A Full Spectrum of Services
Kay & Burton and our Concierge organises full styling and staging services to ensure your property is perfectly presented to maximise the price achieved at sale.
Our curated network of qualified professionals, skilled-and-reliable tradespeople and creative talent is available to meet all your property-related needs at no additional cost.
The Kay & Burton Concierge curated suite of services includes, but is not limited to:
- Art Consultancy
- Cleaning
- Feng Shui
- Home Lending Solutions
- Insurance Services
- Interior Design
- Landscape Gardening
- Minimalism/Decluttering
- Personal Butler
- Pet Concierge
- Removal & Relocation
- Renovation Project Management
- Styling/Staging
- Tradespeople
- Wine Cellar Consultancy
Trusted Advisors
Handpicked among the finest in the industry, our property management division constitutes a team of experts. Their extensive knowledge of the local market, industry legislation and their considerable experience in the corporate relocation market allows us to deliver excellent results year after year. Our teams' commitment to remaining at the forefront or real estate industry changes and practice is evident through their engagement with the highest level internal and external training programs provided by Kay & Burton.
Leasing and Management Fee
Proposed Schedule of Charges
Property:
12/1059 Malvern Road, Toorak
Campaign Commencement:
TBA
Proposed Price:
$700.00 per week / $3,041.67 per month / $36,500.00 per annum
The fees and charges outlined within the document are inclusive of GST and have been calculated based on the proposed price per week as outlined above.
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Leasing and Management Fees
Leasing Fee
4.4% including GST of the average annual rental
Estimated at
$1,606.00
Management Fee
7.7% including GST of the monthly rental collected
Estimated at
$234.21
Re-leasing Fee
1.1% including GST of the average annual rental
Estimated at
$401.50
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MARKETING CAMPAIGN OPTIONS
Internet Marketing
$ 399.00 incl. GST
REA Premier 45 days (+ free Premiere re upgrade for an additional 45 days if needed) & e-Brochure
Domain Platinum 31 days (+ free Platinum re upgrades every 31 days if needed for the life of the listing) & eBrochure
Kay & Burton website
Photography - Up to 8 Daylight Images
$ 176.00 incl. GST
-
Inspections
Open for inspections / Private Appointments / Group Private Appointments - undertaken as necessary until property leased
Included in leasing fee
-
Compliance Fees
Rental Minimum Standards Check
$200 - $300 plus GST
Gas Safety Package
$300 - $400 plus GST
Electrical Safety Check
$200 - $300 plus GST
-
Financial Statements
Administration Fee
$ 5.50 incl. GST
End of Financial Year Statement
$ 27.50 incl. GST per annum
-
INCIDENTAL COSTS
The following costs may be incurred during the ongoing management of the property as approved.
Condition Report Photos
$ 55.00 incl. GST
Equifax / National Tenancy Database Check (per application)
$ 27.50 incl. GST
-
*The above mentioned fees and charges are correct at the time they have been supplied; please note that they may be subject to change based on external costs incurred by Kay & Burton.
Fees and Charges Explained
Leasing Fee
Fee/Commission for the leasing of the property including sourcing of the renter, open for inspections, dealing with renter enquiry, verifying references, NTD/TICA database checks, obtaining client approval, preparation of condition report preparation of all lease documentation. This fee is deducted from the initial months rental only when a renter is secured.
Management Fee
Fee/commission for the day to day management of the property including tasks such as collection of rental, liaising, with renters and dealing with any queries as required, arranging, and overseeing maintenance, undertaking routine inspections etc. This fee is deducted monthly from the rental paid by the renters.
Rental Agreement Renewal Fee
Fee/Commission for negotiating a new fixed term Rental Renewal Agreement with the current renters at the end of their existing fixed term agreement. Under the Residential Tenancies Act renters are not under obligation to sign a new fixed Rental Renewal Agreement and can opt to stay on month to month (periodic) tenancy. This fee is charged when the Rental Renewal Agreement is signed and returned by the existing renter.
Administration Fee
An account administration fee to offset agency costs associated with managing the property and the account including postage costs, bank transaction costs, invoice processing costs, software licensing fees and print costs. Charged monthly when a statement is issued.
Internet Marketing Fee
Fee to cover all expenses associated with marketing the property.
Photography
The cost associated with arranging and supplying quality professional images for the purpose of marketing.
Condition Report Photography
Our office will undertake a comprehensive and detailed condition report outlining the condition of the property throughout and documenting fixtures and fittings. The condition report photos serve as an addition to the written report to act as evidence to substantiate any potential claims when the renters vacate. This fee is deducted from the initial month's rental paid by the new renters.
Signage
Kay & Burton can arrange for a for lease board to be erected outside the property.
Floor plan
Kay & Burton can arrange for a professional floorplans to be prepared for the purpose of marketing.
Just Listed Drops
The cost to template, print and deliver 250 letterbox drops advertising your properties availability to the local area.
National Tenancy Database Credit check & TICA checks
NTD & TICA checks are undertaken to ascertain whether a prospective renter/company has any recorded breaches and credit defaults listed by estate agents, creditors and courts. These checks are undertaken on approved applications as the last stage in the checking process, your property manager will guide you as to whether they believe these are necessary at the time an application is being discussed. This fee is deducted from the initial month's rental when renters have been found.
Insurance Claim Preparation
The cost to prepare and lodge insurance claims that may relate to the building or the rental provider contents at the property.
Victorian Civil & Administrative Tribunal or
Magistrate Court Charges (Interstate Client’s Only)
Government charges passed on to the property owner in the event a dispute arises and VCAT is required to reach an amicable resolution. Charges to include a cost to lodge an application, cost to apply for a warrant of possession, attendance fees for Kay & Burton to prepare the case and attend VCAT on your behalf.
Key Cutting
Charged as incurred if 3 full sets are not provided prior to a tenancy commencing.
South Yarra
|
Hawthorn
|
Bayside
|
Flinders
|
Red Hill
|
Portsea
|
Sorrento
|
South Yarra
- 226 Toorak Road
- South Yarra VIC 3141
T
+ 61 3 9820 1111
F
+ 61 3 9820 0371
Hawthorn
- 553 Glenferrie Road
- Hawthorn VIC 3122
T
+ 61 3 8862 8001
F
+ 61 3 8862 8088
Bayside
- 1/36 Carpenter Street
- Brighton VIC 3186
T
+ 61 3 9592 6522
F
+ 61 3 9592 6566
Flinders
- 47A Cook Street
- Flinders VIC 3929
T
+ 61 3 5989 1000
F
+ 61 3 5989 0171
Red Hill
- 159 Shoreham Road
- Red Hill VIC 3937
T
+ 61 3 5989 1000
F
+ 61 3 5989 0171
Portsea
- 3741 Point Nepean Road
- Portsea VIC 3944
T
+ 61 3 5984 4744
F
+ 61 3 5984 0133
Sorrento
- 106 Ocean Beach Road
- Sorrento VIC 3943
T
+ 61 3 5984 4744
F
+ 61 3 5984 0133
RACV Emergency Home Assist Offer
Final Note
When you select Kay&Burton, our commitment to the successful leasing and management of your property is our guarantee, We will treat your investment as if it were our own.