Metrocity Realty

See how we make your property work so much harder

Right now, you are concerned about getting the maximum return on your investment property-and rightly so!

Having carefully selected your property, you believe it's also very important that it be managed so it works very hard for you.

Our role in your success:
We manage your property in such a way that it produces its best results for you. This part of our website tells you just how we do this. As you go through, you will see what sets us apart from similar services:

Briefly ...
Free advertising of your property!
Money-back performance guarantee!
Court costs paid if tenant sued!
Read on to see how we spell out these guarantees for your peace of mind. From now on, your property will work so much harder!


What do our property management clients say about us?

"Metrocity Realty have managed my unit at St Lucia for some years, and I find them very helpful. I'm happy with them being our agents."-Ellen Irving, of Burleigh Heads

Could YOU really do all that a professional property manager does?


The Real Estate Institute of Australia’s John Hill has this to say: “Unless you have impeccable systems, plenty of time on your hands, and are prepared to work hard to look after a property and your relationship with your tenant, managing your own property generally turns into a bad experience.”

One reason for this dire prediction is that you become personally involved with your tenant, when your relationship should be businesslike and unemotional.

Here’s what a good property manager does to earn their (tax-deductible) fees:

    * Recommends effective ways of presenting your property, advises on lease conditions, rent levels and tenant preferences;
    * Organizes advertising and coordinates inspections for prospective tenants;
    * Evaluates applications from would-be tenants;
    * Sets up and maintains property and rental records;
    * Checks out prospective tenants thoroughly, using a national database, reference checks and extensive industry networks;
    * Pays such expenses as rates, insurance, body corporate fees etc, as instructed by you;
    * Disburses rent payments and submits annual revenue and expenditure statements to you;
    * Maintains your property and arranges any necessary repairs—including after-hours emergencies;
    * Inspects your property regularly to ensure your tenants are looking after it well;
    * Chases up late rent payments;
    * Represents you in any negotiations with the tenant and/or dispute resolution bodies;
    * Collects and forwards bond payments;
    * Advises you on current rental market trends.

Still feel like doing your own property management?
Good? Bad? Indifferent? These 16 questions will help you rate your next property manager!

   1. How long have you been a professional property manager?
   2. What accreditation or professional qualifications do you have?
   3. How long has your company been operating in this area?
   4. How long have you been working in this area?
   5. How long have you been with this company?
   6. Where did you work before, and for how long?
   7. Does your company offer written standards for me to measure your quality of service?
   8. Can you show me a copy of the tenancy agreement you use?
   9. How often do you conduct property inspections?
  10. Is your routine inspection report written in detail, or boxes ticked?
  11. Do you run credit checks on tenants before they rent property?
  12. Will you give me a written rental appraisal of my property so I can make comparisons?
  13. Can I speak with some of your current clients?
  14. Who are you accountable to?
  15. Can I terminate a management contract within 48 hours if you fail to fulfil its terms?
  16. Do you have investment property yourself?

Landlord’s insurance: with all the other policies I have, do I really need this too?

No matter what other policies you carry for your investment property, you are vulnerable to three big risks:

   1. Loss of rent;
   2. Rent default and tenant theft;
   3. Damage.

Just to get this cover into perspective, landlord’s insurance is NOT expensive (averaging a few hundred dollars annually). It has special inclusions and is provided by very few insurers. Landlord’s insurance covers the above three risks and more besides, so it’s definitely worth having. (Always make sure you check the extent of your policy’s cover, however.)

LOSS OF RENT: If your property is damaged, making it uninhabitable (just think of floods), you will lose rent because of this damage. Landlord’s insurance will insure you against this contingency. (Note: it doesn’t cover downturns in the market that result in vacancy.)

RENT DEFAULT AND TENANT THEFT: What’s worse than a tenant being in arrears? When the tenant skips out with some of your property. The landlord’s policy will cover the arrears up to a certain amount or a certain period, and also the cost of replacing the item/s (with the usual excesses applied).

DAMAGE: This means damage caused by the tenant BEYOND normal wear and tear, whether wilful or accidental, and not covered by house and contents insurance.

ORDINARY HOUSE AND CONTENTS: The policy has a component to cover normal loss to your building or contents--the same as your personal house and contents policy. No furniture in your rental property? Fine, but what about fixtures and fittings? If your rental property is strata-titled, check the extent of any existing cover.

PUBLIC LIABILITY: If a tenant or any visitor is injured on your property and sues you for big damages, you’ll be glad you have this in place.

NOT having landlord’s insurance is false economy. Simply include it in your calculations when assessing a property for cash-flow. It is possible to cover yourself for loss AND still gain a positive cash-flow.
Breaking the lease early

As a landlord, when you sign a lease, you legally commit yourself to providing safe premises for your tenant.

The lease binds BOTH of you to your undertaking for whatever is the agreed term.

So you can’t kick out your tenant just because, say, a family member gives you a sob-story. And your tenant can’t simply walk out, for example, if they get a job in another state.

However, if you both agree, then the lease may be ended when you choose.

Some states have an arrangement to compensate you (for lost rent, advertising costs and re-letting fee) if a tenant breaches their lease.

And some state tenancy authorities may allow your tenant to break a lease if it causes them hardship to complete it.

Changing your property manager is easy!

If you’re unhappy with your current property manager, perhaps because your property has remained vacant too long, don’t get mad; simply find another one! (Read the story titled Good? Bad? Indifferent? These 16 questions will help you rate your next property manager! in this section.)

All you need to do is inform our office that you would like to change to our services. We will draw up a letter for your signature and then rest assured all other details will be handled by our agency. We take the hassle out of sometimes a painful exercise.

After picking up the keys, the new manager will take over the balance of the existing lease, and prepare a new one when it ends. They will also draw up a new management agreement with you.
Avoiding the unpleasantness of handling disputes

This is where having a professional property manager (PPM) really shows its worth!

Unlike you, the investor, PPMs are not emotionally attached to the properties they manage so they’re in a better position to handle disputes. Besides, they will also have had training in negotiation.

With a PPM, disputes can usually be settled without involving you, the investor. If a dispute goes to a tribunal hearing, then senior and properly accredited property managers can easily draw up the necessary documents for you, and even appear at the tribunal on your behalf.

And that may not be the end of it!

If the tribunal finds in your favour, the PPM can follow up to make sure the tenant complies with the finding, including recovering rent arrears and compensation for damage done.