Frequently Asked Questions and Answers

How quickly will you find me a tenant?

Unfortunately no one can guarantee an exact timeframe as the answer to this question is dependant on the supply and demand at the time of marketing.

How much will my property rent for?

As with the above question, we cannot always quote the exact dollar amount but we can will give you an idea of what similar properties have leased for and what similar properties are being advertised so you can know your “competition“.

How will you find me a tenant?

We will advertise your property complete with photographs on three websites – allhomes.com.au, realestate.com.au and maxwellandco.com.au, we will also promote your property on our office rental list.

We can also advertise your property in local newspapers; however, enquiry via this media is very low.

How do you qualify tenants?

Sometimes the first tenant is not the best tenant so all applications will be reviewed on the basis that they meet the following criteria:

1. Ability to pay the rent, and
2. Ability to maintain the property

In order to verify that the tenant meets these criteria your portfolio manager and the prospective tenant will complete a highly detailed application form which includes:

1. 100 points of identification,
2. Stability of employment,
3. Previous rental references or proof of ownership,
4. Good credit history, and
5. A search of the National Tenancy Database and/or Tenant Reference Australia will be conducted.

Once your manager has obtained this information, they will discuss it with you and together you will choose the right tenant.

How do you collect the tenant’s rent?

Tenants are given three (3) options to pay rent:

1. a direct debit for the rent to be taken from their bank account, wages or Centrepay payments,
2. via the internet, or
3. in the office.

All of these options make it quick and easy for tenants to pay rent and reduce the possibility of arrears.

When and how will I receive my money?

Generally, statements are processed on the closest working day to the end of each month by Electronic Funds Transfer or a cheque through the post; however we can tailor your account to suit you. We do process bi-monthly transfers.

If your rent money is going to be paid direct to your mortgage account, it is always a good idea to have your account paid several months in advance, just in case the property becomes vacant for a short time or the tenant is late with their payment.

What happens if the tenant does not pay their rent on time?

Legally your portfolio manager cannot take steps to evict the tenant for non-payment of rent until the tenant is 14 days in arrears. This means that on the 15th day, your manager will issue the tenant with a Notice to Vacate within 14 days and apply for a Consumer Tenancy and Tribunal Hearing in relation to rent arrears. If the notice is to be posted, four working days are allowed for postage.

Prior to this time, your manager will speak to the tenant by phone, sending them letters and/or visiting the tenant at the property to try and ascertain why they have not paid the rent.

Can you guarantee that the tenant will not damage my property?

Unfortunately not; as previously mentioned, all steps will be taken at the commencement of the lease to select the right tenant; however circumstances can change - relationships break down, children come along, people lose jobs.

As such, three types of inspections are carried out to minimise any problems that may arise.

The first is the Residential Premises Condition Report. This is completed by your portfolio manager prior to the commencement of the tenancy and the tenant is given a copy to approve. Any discrepancies will be resolved at this time rather than at the end of the tenancy.

The second inspection is a Routine or Periodic Inspection. These will conducted at 6 weeks into a new tenancy, followed by a 3 month inspection and then at regular 6 month intervals.

Lastly, the Final or Bond Inspection is carried out once the tenant has vacated the property. The Residential Premises Condition Report is taken to the property and the current condition of the property is compared to that on the original report.

How are repairs and maintenance handled?

Your portfolio manager will contact you with all maintenance requests from your tenant to obtain your instructions. However, urgent repairs such as burst sewers or hot water systems/ no water or power must be acted upon regardless of whether your manager has been able to reach you.

How often will I hear from you/will I lose control of my property?

As mentioned previously, your portfolio manager will contact you in relation to all facets of managing your property, however, if you would prefer us to handle most elements on your behalf, please advise your manager of your expectations in relation to communication to avoid confusion. Please also advise your preferred method of communication, by phone (home, office or mobile) or by email.

What documents do I need to sign and why?

The Management Agency Agreement. This agreement is signed by you to authorise us to act on your behalf in all matters in relation to the management of your property. We cannot legally act for you without this document (not even advertise your property for lease).

What are my obligations to the tenant?

Under the Residential Tenancies Act, landlords have various obligations to their tenants such as,

1. The premises and inclusions are clean
2. The premises and inclusions are in good repair
3. The lessor is not in breach of the law dealing with issues about health and safety of a person using or entering the premises.

Do I require insurance on the property?

It is highly recommended that you protect your rental income along with property and contents insurance and public liability insurance.

It is the tenant’s responsibility to have their belongings insured.

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