Our property managers are here to take the stress and uncertainty out of managing your investment property, maximising your return and making sure your property remains compliant. And that starts with answering your questions.
Read on to learn more about the property management process and, if you can’t find the answer to your question here, feel free to get in touch with our property management team.
- How do you decide on the rent for my property?
First, we’ll appraise your property, then we’ll look at supply and demand in the local rental market with you – a market we know inside out. We can then advise you on the optimum rental price for your property. Of course, the final decision is yours, but we’ll draw on all our experience to ensure you’re able to maximise your return.
- What’s the best way to advertise my property?
Instead of looking at advertising as a cost, we look at it as an investment – an opportunity to maximise interest and, therefore, your rental return. That starts with quality photography, which we then use to advertise your property across all the must-see online property marketplaces, including realestate.com.au, Domain and REIWA. We also recommend the prudent use of feature and highlight ads across these channels along with exposure on social media.
- How do you pick a tenant for my property?
We do it together, with you. Of course, we’ll do all the hard work. We’ll use all our experience to vet and shortlist candidates, adhering to our proven tenant selection process to research each candidate’s employment history, previous tenancy records and more. Then, we’ll work through the shortlist with you and help you select the best tenant, again with the aim of maximising your return and minimising your costs.
- What happens after we’ve selected a tenant?
After we’ve chosen the ideal tenant from our shortlist, we’ll take a bond and the first rental payment from your new tenant and complete all necessary documentation before handing over the keys. Then, your property manager will handle every facet of the day-to-day management of your property. You are then safe in the knowledge we’ve done everything we can to maximise your returns.
- How do you manage my rental payments?
When it comes to your tenant’s rental payments, we have strict rules. If the rent is not paid within 3 days of the due date we will commence proceedings to recover all funds and ensure your tenants rent is paid up to date as quickly as possible. Thanks to our thorough selection process, this is rarely necessary, and so you’ll find your regular payments deposited directly into your nominated bank account at the end of the month, when we’ll also issue your monthly financial statement. - Do I need landlord’s insurance, as well as building and contents cover?
We believe landlord’s insurance is a must, combined with building and contents to cover window treatments, floor coverings and light fittings insurance; However, there’s a range of insurance options to choose from. We’ll gladly discuss the various options with you – each has pros and cons – but we recommend comparing policy details before making your final decision.
- How often will you inspect my property?
Before your tenant moves in, we conduct a thorough inspection called a Property Condition report – this report serves as a benchmark for your tenancy and we’ll expect your tenant to maintain the property’s condition accordingly. We then conduct a follow-up check six weeks after the tenancy starts, with regular inspections every three months thereafter. We’ll check your property as if it were our own, reporting any damage or excessive wear and tear to you in writing.
- Who’s responsible for bills, repairs and general upkeep?
Your tenant and you, as the landlord have certain obligations under your rental agreement.
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- Your tenant is responsible for the general care and upkeep of your property and any outdoor areas, along with water usage, gas and electricity bills. They are also responsible for any noise disturbance issues and any damage, including damage caused by pets (if you permit pets in your property).
- It’s your responsibility to ensure your property is safe and hazard free, which extends to dealing with repairs and meeting all legislative requirements (e.g. RCD regulations, smoke alarm regulations, pool fencing requirements). You’re also obliged to ensure your property meets the minimum-security standards of the Residential Tenancies Act.
- What happens if my tenant wants to terminate their agreement early? If your tenant wishes to vacate early, it’s known as a ‘break lease’. If they’re on a periodic tenancy lease, they must provide 21 days’ notice, in writing. They must provide 30 days’ notice if they’re on a fixed-term agreement. In either scenario, your tenant is liable for the balance of the tenancy and must cover all costs incurred in re-letting the property. This includes advertising, ongoing rent (until a new tenant moves in), the final inspection fee, a portion of your letting fee and any other applicable fees.
- Who decides whether to renew a tenant’s lease?
While we’re happy to advise you on the best course of action, based on our experience with the tenant and market conditions, the choice is ultimately yours. As the end of the tenancy approaches, we’ll contact you to let you know whether the tenant would like to extend their tenancy or not. It’s worth noting that you have the right to give the tenant notice to vacate the property at the end of the lease, without providing a specific reason.
- What happens if I decide to sell my investment property?
While you can sell your property at any time, you need to know that if your tenant is on a fixed-term lease, it’s guaranteed. In other words, anyone who buys your property must honour your tenant’s agreement, so the new owner wouldn’t be able to move in to the property until the tenancy has run its course.
- Can I switch to another property manager?
Most of our property management clients have been with us for many years – some since we started out in 2003. And once you’ve experienced our service, we’re confident you’ll want to stay with us too. We even have a performance guarantee that enables you to walk away without any penalties if you have a genuine grievance about the service we provide.
Got another question? Want to check out our property management credentials? Then contact our team to arrange a no-obligation chat with one of our property managers.