Maximising Your Investment | Bold Property Real Estate

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BOLD PROPERTY REAL ESTATE

Maximising your investment.

A practical guide for Melbourne rental property owners.

Download the 18-page guide

02 / ABOUT BOLD

Who we are

Local knowledge. A relationship that lasts beyond the next lease.

01 Owners here, and across the world

At Bold Property Real Estate, we work with Melbourne rental property owners who live locally, interstate and overseas. Some of our landlords have been with us for more than ten years. Those relationships matter to us.

When you cannot be at the property yourself, you need someone here who understands it and keeps you informed. When you live nearby, you still need practical advice and someone to take care of the day-to-day details.

02 We get to know what matters to you

A property can mean different things to its owner: regular income, a future home, a long-term investment or a step towards another plan. We want to understand that before making recommendations.

Over time, knowing the property and your priorities helps us give advice that fits. Tell us when your plans change, or when something is worrying you. We can talk it through together.

03 A guide to the whole journey

The pages ahead explain how we would approach preparation, rental pricing, marketing, leasing and management. Our separate Bold Commitment brochure sets out the service expectations in a shorter format.

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03 / YOUR PLANS

Start with what matters to you

Before we talk about the rent, tell us what you need from the property.

01 A conversation before a recommendation

Perhaps this is your first investment. Perhaps it is a home you plan to return to, or a property you have owned for years. Before talking about rent, we want to understand what you need from it.

Are you looking for steady income, planning improvements or considering a sale further down the track? Tell us what is on your mind, including anything that has been frustrating about the current arrangement.

04 / OUR APPROACH

What we would do for you

A clear plan, from the first visit to the next tenancy.

01 First, look at the property

We would arrange a visit to understand the layout, condition and features. Bring along any questions about repairs, improvements, rental demand or the current tenancy.

We would discuss what needs attention before advertising, what records are available and whether any specialist assessment is needed. It is better to find the gaps early than have them delay the campaign.

02 Then, agree the approach

We would prepare a rental recommendation, explain the comparable evidence and discuss how to present the property. The campaign should suit the home, the likely renter and your plans.

Before you appoint us, we would explain the services, fees, proposed marketing costs and management authority. We would also agree how you prefer to receive updates and approve work.

03 During the tenancy

If appointed, we would handle the agreed management tasks, keep records and bring decisions to your attention. Rent collection, repairs, inspections and planning for the next lease all need regular attention.

You should be able to understand what is happening without having to piece the story together yourself.

04 What to bring to our first meeting

Have the owners and other decision makers involved. Bring details of recent maintenance, appliance warranties, insurance, keys and any current tenancy. We would tour the property, discuss your expectations, explain the rental evidence and walk through the management agreement.

05 / OUR RELATIONSHIP

Why work with Bold?

Useful advice, personal contact and attention to the details.

01 Someone who knows your property

You should not have to start from the beginning every time you call. Knowing the property, its maintenance history and your priorities makes each conversation more useful.

We would agree who you contact and how matters are handled when that person is unavailable. A good relationship needs clear arrangements as well as a familiar voice.

02 Recommendations you can understand

If a repair is needed, you need to know the problem, the proposed action and the likely cost. If the rent is being reviewed, you need to understand the evidence and your options.

We would explain our recommendation and the decision we need from you. Questions are welcome; it is your property, and the choice should make sense to you.

03 A view beyond the next lease

Sometimes a small repair is enough. Sometimes it makes sense to plan a larger improvement. We would discuss timing, the renter’s needs and your longer-term plans before recommending the next step.

We cannot promise a particular return or a tenancy without problems. We can explain our approach, the responsibilities involved and how we would work with you.

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06 / STAYING CONNECTED

Trust grows through the everyday details

A useful update. A repair explained. A question answered.

01 Keep the conversation open

Tell us how you prefer to stay in touch and which decisions you want to discuss personally. If you live overseas, let us know your time zone and the best way to reach you.

Clear approval arrangements are especially important when a repair cannot wait. We would agree the authority and contacts before the tenancy starts, while following the requirements that apply to urgent work.

02 Keep us informed

A change of contact details, insurance arrangements, bank details or plans for the property can affect how it is managed. Let us know early so the records and next steps can be checked.

07 / MANAGING THE RESPONSIBILITIES

Why appoint a property manager?

Give the regular work a clear owner, while keeping the important decisions with you.

01 There is more to it than collecting rent

Advertising, inspections, application checks and the agreement are only the beginning. During the tenancy, rent payments, repair requests, records and communication all need attention.

A manager can help coordinate that work and explain when a decision is needed. The scope of the service should be set out in the management authority rather than left to assumptions.

02 Keep the process consistent

Rental rules change, and different situations can require different notices, records or steps. We would follow the applicable process and explain when specialist legal advice is needed.

For disputes or overdue rent, a clear history of communication and action matters. A manager cannot guarantee the outcome, but can help keep the issue documented and the next step clear.

03 Make room for your own priorities

You may live close by but have little time to manage repairs and enquiries. You may be interstate or overseas and need a local point of contact. Either way, the aim is to keep you informed while someone handles the agreed daily work.

Owners still have obligations and decisions to make. Prompt approvals, accurate information and a repair budget help the relationship work.

04 Considering managing it yourself?

Consider who will handle applications and references, the agreement and disclosures, bond lodgement, overdue rent, repairs and access arrangements. Notices, disputes and goods left behind also need the correct process and a clear record. Decide whether you have the time and support to manage those responsibilities consistently.

08 / LOCAL ACTIVITY

Understand your local rental market

The most useful evidence is close to the home you own.

01 Look beyond a suburb average

Two homes in the same suburb can attract different renters and different rents. Layout, condition, transport, parking, outdoor space and heating can all affect the comparison.

We would look at relevant leased properties and competing listings, explain where your property sits and identify the features that matter most.

02 Separate asking prices from results

An advertised rent is what an owner is asking for. A leased result is stronger evidence of what a renter agreed to pay. The date of the result and the property’s condition also matter.

A broad market report is useful background, but it should not replace a property-specific recommendation. We would explain any limits in the evidence rather than present an estimate as certain.

03 Use feedback as the campaign develops

Enquiry levels, inspection attendance and application feedback can show whether the property is meeting expectations. If the response is weak, we would discuss price, presentation and any practical issue affecting demand.

The right response depends on the cause. We would explain what we are seeing and recommend a next step.

09 / RENTAL STRATEGY

Set the rent with the whole picture in mind

The asking rent matters. So does how long the property sits empty.

01 Use evidence close to your property

We would look at comparable leased properties, competing listings and the features renters are choosing in your area. Condition, layout, parking, heating and location all affect the comparison.

An advertised price tells us what another owner is asking. A leased result is stronger evidence of what a renter has agreed to pay. We would explain the differences behind our recommendation.

02 Watch the response

Once the campaign starts, enquiries, inspection attendance and applicant feedback help show whether the price and presentation are working.

If the response is weak, we would talk through the likely reasons and recommend a change where needed. The aim is a sound leasing decision, with the cost of vacancy considered alongside the weekly rent.

03 Think beyond the next increase

At review time, we would consider the market, the property and the value of a reliable renter. We would explain your options and follow the rules that apply to any proposed rent change.

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10 / BEFORE ADVERTISING

A property that is ready to lease

Good preparation gives renters a clearer reason to choose your property.

01 Take care of the essentials

Look at the property as a home someone will live in: doors and windows that work, reliable appliances, a clean kitchen and bathroom, and repairs that have been dealt with.

We would help you identify what needs attention before advertising and what can be planned for later. A modest, well-chosen improvement may be more useful than a large renovation.

02 Minimum standards and safety

Victorian rental properties must meet the applicable minimum standards before they are advertised or offered for rent, and before a renter moves in. We would discuss a minimum rental standards assessment and report, along with the safety checks and records relevant to your property.

A report helps identify issues and work needed; it does not replace the owner’s obligations. Any required repairs or specialist work need to be completed and evidenced. Requirements change, so use current Consumer Affairs Victoria guidance when preparing to lease.

03 Make the handover easier

Gather keys, remotes, appliance manuals, warranties, safety records and owners corporation information. Tell us about any recurring problem, planned work or access restriction.

Keep a budget available for repairs. Agreeing how approvals and urgent decisions will be handled helps us act when the property needs attention.

Current guidance: Consumer Affairs Victoria — minimum standards.

11 / YOUR CAMPAIGN

Marketing your property

Help renters see the home clearly and understand why it suits them.

01 Start with the presentation

Clean, well-lit photographs and an accurate description make the listing easier to assess. We would discuss photography, a floor plan where useful and the features that deserve attention.

The listing should describe the home honestly. A renter who understands the layout and inclusions before inspecting is better placed to decide whether it fits.

02 Agree the campaign and costs

We would explain the proposed advertising channels, costs and inspection arrangements before the campaign starts. The approach should suit the property rather than simply add more advertising.

Tell us about access restrictions, owners corporation arrangements or work that could affect photography and inspections. Planning those details early helps the campaign run smoothly.

03 Listen, report and adjust

We would keep you informed about relevant enquiry and inspection feedback. Repeated comments about the same issue deserve attention while there is time to act.

If the campaign needs a change, we would explain the reason and discuss the options. A useful update tells you what the response means, not just how many people attended.

04 Marketing tools to discuss

Professional photography, an online listing, a floor plan where useful, inspections and enquiry follow-up can support the campaign. Signboards or other advertising may suit some properties. We would agree the tools and costs with you; availability and suitability vary.

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12 / FINDING THE RIGHT FIT

Lease with care

Clear presentation, useful feedback and a considered choice of renter.

01 Show the property honestly

Good photographs and a clear description should help renters understand the home before they inspect it. We would agree the advertising channels, campaign costs and inspection arrangements with you.

The features that matter should be easy to find: layout, parking, outdoor space, transport and any practical details that affect living there.

02 Keep you involved

We would keep you informed about the campaign and explain relevant feedback. If applicants are raising the same concern, you should hear about it while there is still time to respond.

03 Assess applications fairly

We would assess applications using the required application process and relevant information about the applicant’s ability to meet the tenancy obligations. Checks and references support the decision; they cannot guarantee a trouble-free tenancy.

We would discuss suitable applications with you, protect applicants’ personal information and keep the decision within the applicable rental laws.

04 Start with a clear record

The agreement, condition report, keys and required disclosures help establish a clear starting point. We would explain the arrangements for rent, reporting repairs and contacting us.

13 / COMPLETE SERVICES

Support around your property

Practical help with preparing, protecting and planning for your property.

01 Systems, records and communication

Checklists and organised records support the everyday work: rent payments, repair requests, inspection reports and the decisions that need your approval. Systems are useful when they make the information clearer. If something is not working for you, tell us so we can discuss it.

02 Property readiness

Minimum rental standards assessments and reports can identify issues before leasing. Gas, electrical and smoke alarm services help address the safety checks relevant to your property. Required work and records still need to be followed through.

03 Utilities and moving

Utility connection assistance can help renters arrange services for their move. Availability, charges and terms depend on the service selected.

04 Insurance and tax depreciation

Building and landlord insurance can be discussed with an insurer or broker, including cover, exclusions and excesses. A qualified quantity surveyor can assess whether a tax depreciation schedule may be useful; your tax adviser should confirm how it applies to you.

05 Finance and future improvements

If you are reviewing a loan or planning work, we can discuss the property information you may need and options for obtaining specialist help. Finance advice should come from an appropriately qualified adviser.

06 Your choice, clearly explained

Tell us which services you need. Before proceeding, we would explain any proposed referral arrangement, relevant costs and required consent. We would explain any services we arrange under your management agreement. Insurance, tax and finance advice would come from the relevant qualified specialists.

14 / LONG-TERM CARE

Protect the property by planning ahead

Repairs, records and future decisions belong in the same conversation.

01 Keep the information useful

You need to know when rent is overdue, when a repair needs approval and when an inspection raises a concern. We would explain what has happened, the action being taken and any decision we need from you.

02 Deal with repairs thoughtfully

When a problem is reported, we would assess the next step, arrange appropriate trades and work within the agreed authority and legal requirements. Urgent repairs need prompt action.

For planned work, we would discuss the reason, likely cost and timing. Tell us if you have a preferred trade or warranty that needs to be considered.

03 Plan for the years ahead

Routine inspection records, maintenance history and clear accounts help you keep track of the property. They also help us discuss future work before every issue becomes a surprise.

If your plans change, let us know early. Renewing a tenancy, moving back in or selling each needs a different conversation and enough time to follow the required process.

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15 / KEEPING TRACK

Inspections are a chance to look ahead

A record of the condition today can help plan the work needed tomorrow.

01 Look, record and explain

Routine inspections, carried out within the applicable access rules, help identify visible condition and maintenance issues. They are not a specialist building inspection or a guarantee that every defect will be found.

We would record relevant observations and explain concerns that need your attention. If an issue needs a qualified trade or building specialist, we would discuss that next step.

02 Make the history useful

Keeping inspection reports, repair invoices, warranties and safety records together makes it easier to understand recurring problems and plan work.

Before the next lease, we would discuss the property’s presentation, outstanding work and any changes needed to prepare it for the market.

16 / THE MANAGEMENT AGREEMENT

Know the costs before you commit

A clear proposal is more useful than an old fee schedule.

01 Agree the scope

Before appointing us, ask what is included in the management service and what attracts a separate charge. Leasing, advertising, specialist services and other work should be explained in the current proposal and authority.

We would talk through the fees and costs relevant to your appointment. This guide does not include a fee table because the current written proposal should be the reference for your decision.

02 Plan for the property’s expenses

Management fees are one part of ownership. Repairs, insurance, owners corporation charges and other property expenses need to be considered as well.

Keep funds available for unexpected repairs and discuss planned improvements early. Your accountant, insurer and finance adviser can help with the parts that need specialist advice.

03 Set the approval arrangements

Agree spending authority, how quotes will be handled and who can approve work if you are unavailable. Urgent repairs remain subject to the applicable legal requirements.

Read the authority, ask about anything unclear and keep a copy. If you are changing managers, we would discuss the handover and existing agreement before setting a start date.

17 / GETTING STARTED

Your next step

Let’s turn the conversation into a practical plan for your property.

01 1. Tell us about the property

Share the address, current tenancy status and what you would like to achieve. Let us know if you are planning to move back in, sell or carry out work, even if the timing is not settled.

02 2. Arrange a visit and rental appraisal

We would look at the property, discuss its condition and prepare a rental recommendation. Bring any questions about the market, repairs, compliance or the current management arrangement.

03 3. Review the proposal

We would explain the service, fees, proposed marketing costs and authority. This is the time to agree contact preferences, approval arrangements and any extra services you need.

04 4. Prepare for the handover

If you appoint us, we would agree the next steps, gather the relevant keys and records and plan any work required before advertising. An existing tenancy needs its own handover arrangements.

05 A question is a good place to start

You do not need to have everything worked out before you call. Tell us what you are thinking and we can talk through the options together.

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Looking after your property, wherever you call home.

Handing someone the keys to your property takes trust. Whether you live locally, interstate or overseas, you are also relying on them to be your eyes and ears here in Melbourne. You need to feel comfortable with the people looking after it.

Some of our landlords have been with Bold for over 10 years.

Talk to us about your property

[email protected]   (03) 8566 6777

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