Frequently Asked Questions
Can I say I don't want pets at my Property?
Lessors may choose to specify if Pets are, or, are not allowed in Tenancy Agreements for your Property. If you elect to allow pets, the Residential Tenancies and Rooming Accommodation Act 2008 (RTRA Act) outlines the Tenant's responsibility with having them at a rental Property. Our Agency can provide practical suggestions for your consideration before deciding if you will allow a pet or not.
Who holds the Bond money?
A maximum amount equal to four weeks rent is to be paid by the Tenant as Bond prior to the Tenant moving into the Property unless the rent is greater than $700 per week. In this case, then an agreed amount can be requested to be paid over and above the four weeks rent as Bond. The Bond is lodged with the Residential Tenancies Authority and held there until the Tenant vacates the premises and a thorough Agent Exit Property Inspection and report is completed and we are satisfied the Tenant has returned the Property as required and all rent has been paid. The Bond is then dispersed appropriately.
How and when am I paid the rent from my Tenants?
All monies received on your behalf are held in our regularly audited Trust Account. From these monies we pay all authorized payments relating to your Property eg council rates, insurance, repairs and maintenance. Invoices are sent to you with your next statement. The Trust Account period concludes with account processing occurring on the first business day of each month to comply with Trust Account auditor requirements. We electronically transfer your funds into your nominated financial account within the next 2 business days.
Are all repairs done properly?
Work arranged by our Agency for your Property is carried out by a suitably qualified and licensed tradesperson. If the work required is covered by a warranty, our Agency contacts the supplier, or if the work is claimable under your Landlord or any other insurance policy, we can contact the insurer to claim on your behalf. Our Agency has access to a wide range of trades people who have met our Agency's stringent criteria.
Does somebody keep track of rental payments?
Each business day rent arrears are monitored with action taken. If the Tenant is 2 days in arrears a reminder is sent. If rent is in arrears on the 8th day, we issue a formal Notice to Remedy, as the law allows at this time. In this event, a Notice copy will be sent to you for your reference. If rent continues to be unpaid we issue a formal Notice to Leave when the law allows and send a copy to you. We maintain contact with you until the matter is finalised ie rent is paid or the eviction process concludes.
What happens when the lease is due for renewal?
We will endeavour to contact you 3 months before the current lease on your investment property expires to allow you time to make decisions regarding lease conditions, tenants, and the rental price. If you do decide to increase the tenants rent and/or change /add any terms of the tenants lease agreement at this renewal time, it is important to remember that once your decision is made and you have notified our office, it is from them that the tenants need to be given 2 months' notice of the change. This is why we contact you 3 months before the lease expires and ask for your decision as soon as possible.
How often can I inspect the Property other than for maintenance?
The Tenancy Agreement specifies that the Tenant permits the Lessor/Agent to inspect the Property during the tenancy provided the Tenant is given notice, as required by the RTRA Act. The Act states that unless a Tenant agrees otherwise, entry may not be made less than 3 months after a previous entry by the Lessor/Agent.
What Insurance is needed for an investment Property?
It is essential that you have adequate Landlord Insurance on your property. Landlord Insurance is your protection against unforseen circumstances that may occur during a tenancy. Most Insurance Companies offer Landlord Insurance please take the time to discuss in detail the conditions of your policy, as these conditions can differ greatly depending on the Insurance Company Provider. We make every effort possible to ensure that the applicants we put forward to you are the right tenants, but at times unforseen circumstances can affect a tenant's ability to pay rent or have them act totally out of character. A copy of your rental property's Building and Landlord Insurance will need to be provided before tenants can move into the property.
Who pays for water?
The Lessor is responsible to pay Council / Shire sewerage and drainage rates, Land Tax and all corporate charges. From the date a tenancy commences and if specified on the Tenancy Agreement, Tenants are responsible to pay for electricity, telephone, gas, plus water charges over and above the average allowance incurred. The Lessor can pass on full water consumption costs as long as their Property meets the criteria of the 3 star wells rating this is commonly referred to as being 'waterwise'. We strongly urge all owners to pass on a copy of water accounts once received so that we can arrange for this amount to be recovered from the tenant.
Do I pay for the telephone connection?
It is recommended that if the Property is new and a telephone line is not connected to the property, the Lessor pays for a line connection. We recommend the Tenant organises the work and submits the account to us for the Lessor to reimburse. The Tenant is responsible to pay for the service connection to the line and all services used.
Can you help me sell my property?
Of Course! Our Property Consultant has over 30 years experience in helping clients buy and sell property, and has already completed many successful transactions on behalf of our landlords. Should you be seeking an ideal of what your property is worth, or just looking for a general market snapshot, please feel free to contact Geoff at anytime.