Property owners

Momentum Wealth are a leading property management agency who service the entire Perth Metro region, from Joondalup in the northern suburbs, to North Perth and South Perth, across to the eastern suburbs including Forrestfield and High Wycombe, and right down to Fremantle and beyond.

Rental property management fees in Perth can vary depending on the fee structure, the number of properties being managed and your individual requirements.

At Momentum Wealth, we offer two straight-forward and transparent fee structures: ‘itemised’ or ‘all-inclusive’, the latter of which is charged as a percentage of gross collections from the tenant.

The best option for you will depend on individual factors such as whether you have long or short-term tenants and your requirements in terms of cashflow management. Our property managers will discuss this with you in your initial consultation to help you choose the best option for your circumstances.

Yes, in Australia property management fees are generally tax deductible for investment property owners.  

Many expenses incurred by you which relate to your rental property are tax deductible, including property management charges.

Other expenses you may be entitled to claim a tax deduction for include:

• Marketing costs
• Land tax, council and water rates
• Insurance
• Cleaning and gardening
• Pest control
• Maintenance and repairs

For information on deductible rental expenses and your individual tax eligibilities, we recommend speaking to a qualified tax advisor.

We can manage the payment of all outgoings on your behalf and provide you with detailed monthly and annual financial statements. These statements will clearly outline all funds we have received and disbursed, offering transparency and simplifying your tax accounting process.

Whether you’re looking to upsize, downsize, or simply move home and convert your current residence to an investment property, renting out your property can be a great way to generate income. However, we understand it can seem daunting if you’re new to the process. There are several important steps to consider before listing your property. Our experienced property management team can guide you through each aspect, ensuring a smooth and successful rental experience. Contact us today to discuss your property and receive personalised recommendations. We’ll be happy to answer your questions and help you get started!

At Momentum Wealth, we understand that you want to enjoy the benefits of owning a rental property without the hassle of day-to-day management. That’s why we take care of everything for you, minimising the workload on your end. This includes tenant communication, screening, lease agreements, rent collection, and maintenance requests. We’ll keep you informed on your property’s performance and handle any issues that may arise, but won’t need to be involved in the day-to-day interactions.

We always strive to secure the maximum rent possible for your property to support optimum longterm returns. This can often be a fine balance between achieving a higher rate and minimising vacancy periods to prevent loss of rental income. To set the right rate in line with market expectations, we consider several factors:

1. Demand and availability: we perform in-depth analysis into the local area to assess demand from tenants at the time you’re leasing. This involves investigating a broad range of factors including the general vacancy rate of the area, the average number of views per property, the number of properties available for rent in the area and the length of time properties are on the market, as well as seasonal trends that may influence tenant demand.

2. Comparable properties: we assess rents recently achieved for comparable properties in the surrounding area to calculate a rental range for your property.

3. Competition and current prices: we compare your property with similar properties currently advertised for rent and/or those already under management to ensure the rental rate is realistic, and to provide you with tailored recommendations on strategies to enhance your property’s rental value.

These factors allow us to determine market value and set the right rent for your property.

The choice of tenant is ultimately up to you as the owner. However, we will provide you with as much accurate information as possible so that you can make an informed decision.

At Momentum Wealth, we conduct extensive background checks on all applicants using the information they provide to us through our detailed Application Form. This includes phoning references and checking national databases to confirm the applicant’s tenancy history, checking their credit rating, and determining their ability to afford the associated rent.

In most cases, tenants are entitled to make ‘minor modifications’ to a rental property, provided they have the property owner’s permission. WA Regulations specify the minor modifications that tenants can make themselves and an investor can only refuse permission if it goes against strata rules, could disturb asbestos, or breaches a heritage listing.

Outside of these possibilities, an investor can only say ‘no’ to modifications if good reasons can be demonstrated to the Commissioner for Consumer Protection. As a guide, this could include changes that make the home unsafe, result in higher maintenance costs, or if the cost to repair or remove the modifications exceeds the bond.

At the end of the tenancy, the tenant must restore the premises, unless the investor or agent agrees for the modification to remain, for example, where a wall has been painted.

Tenants are required to formally apply to keep a pet on a rental property. However, investors can only refuse if it is ‘reasonable’ to do so. This may be the case, for instance, if the property doesn’t have pet-friendly fencing. Owners can also refuse pets where it would contravene a law, including a strata by-law.

An owner can also impose ‘reasonable conditions’ around keeping pets, such as limiting the number of pets, or requiring pets to be kept outside. The property owner can also set rules around cleaning and maintaining the property in relation to keeping a pet.

There may be instances where a tenant pays their rent late due to a number of factors outside of our control. To minimise the likelihood of this happening, we have a zero-tolerance policy on rent arrears, with clear protocols in place when a tenant fails to pay rent on time. It is important to note that property managers must comply with legislative requirements when handling rent arrears and that there are strict processes in place that must be followed.

You can securely access your property and financial information via PropertyMe.

In PropertyMe, you can:

• View a real-time snapshot of your property and rental details.
• Track financial activity including monthly activity, expenses breakdown and more.
• Monitor the status of any outstanding jobs.
• Drill into inspections to see comments, images and any follow-up actions.
• View and download documents such as statements and bills.

As a general rule, you can change property managers whenever you want to (including mid-lease), with minimal disruption to both you and your tenant; however, switching property managers will be more complex if you’re still within the fixed term of your management authority. Transitioning to a new property management company does have the potential to significantly enhance your rental property’s performance and improve your investment outcomes. For more information on switching providers, read our article on the topic or contact us today.