LANDLORD FREQUENTLY ASKED QUESTIONS

How much will it cost for you to manage my property?

We understand that very property is different, and most landlords’ requirements are different. Therefore our management fees vary based on individual requirements.
Our fees are based on:

• The type of property management services you wish us to provide.
  
• Your selection of included services level (with many additional features in your agreement supplied at no cost to you).
  
• An assessment by us of the time and expertise required providing you with those services.
  
• The number of properties you would like us to manage for you.

Many agents can offer similar fees, but no one can match our service.
We have more qualified property management staff per property than most agents, which means greater personal care and attention to your property.

Can you arrange to pay bills associated with the property on my behalf?

Yes. With your permission, we will arrange to receive and pay such bills as Sydney Water, local Council Rates, Strata levies, pool and lawn maintenance or other such bills as you may authorise.

Each month this expenditure is detailed in your monthly statement. In addition, we will supply an Annual Profit and Loss statement at the end of the financial year for ease of completing your taxation return.

Will I lose control of my property if I give it to you to manage?

You can have as little or as much involvement in the management of your property as you wish. It’s your choice – from ‘set and forget’, to detailed involvement. We will discuss your requirements with you and once agreed, we will focus on ensuring they are met.

How long will it take to find a tenant for my property?

We can commence marketing your property the moment you place it in our hands. Your property will be advertised on our website, as well as realtyonline.com.au and realestate.com.au. We will place a colour advertisement in our busy agency window, and erect a professional signboard. Your property will be cross-matched with our prospective tenants database and circulated within our specialized leasing team.

There can often be seasonal factors to consider, as well as fluctuations in supply and demand caused by economic forces outside our control, however we devote all available resources into getting you the most suitable tenant, in the shortest time possible to minimize any vacancy period.

How do you qualify prospective tenants?

We know that our most important task is to provide you with the highest calibre tenants for your property. Our tenant qualification process includes:

• 100 point identity check
• The completion of a highly detailed Application Form.
• Thorough checking of all information provided in the Application including means of income, employment and previous tenancy history.
• A search of the TICA tenancy reference database (with payment default results recorded from Australia and New Zealand).

It is important to recognize that no system can ever be 100% fool-proof, but we can certainly minimize the likelihood of future problems by some care and attention at this important stage.

Do I have to insure the property or does the tenant do that?

Yes. You must maintain your own insurance to cover on the building, contents and public liability. If the property is a Strata unit, the Strata Company may possibly insure the building, but you should have contents insurance for the carpets, blinds, curtains, light fittings and any appliances inside the unit.

We recommend that you take out Landlord Insurance which will often cover the items mentioned above. The tenant is responsible for his or her own personal effects.

How promptly do you process your monthly rent statements and pay me my money?

We process rent statements on the last working day of each month, at which time we deposit your monies electronically into your bank account, or post a cheque if you would prefer.

It is a good idea to allow a couple of working days to allow for your Bank processing, before loan payments and the like are debited from your account.

How are rent collections handled?

Tenants are given several options in paying rent:

1. EFT direct deposit by the tenant straight into our Trust Account
2. Payment in person at our office (cheque only – cash not accepted for security reasons)
3. ANZ Rentexpress (for tenants to pay their rent with Visa or Mastercard)

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

What happens if the tenant doesn’t pay the rent on time?

At all times we act firmly, fairly and within the law. We first send a reminder letter and/or call the tenant. If the tenant falls more than 14 days in arrears, a notice terminating the tenancy is automatically served.

We are experienced in the procedures of the Tribunal, and Local Court protocols should appearances before either be required.

Can you guarantee that the tenant will pay on time and won’t damage my property?

Unfortunately, no agent can make such a guarantee because sometimes totally unforeseen circumstances may occur, and no one can foretell what the future may hold.
The keys to reducing the possibility of these incidents occurring are:

• Careful tenant selection
• Strict arrears control
  
• Taking immediate and appropriate action on your behalf if a breach of the lease does occur.
  

Neighbourhood Realty uses these (and other) methods to minimize the chance of loss to the landlord. You can, as a landlord, insure yourself against these occurrences with a special insurance policy. We can of course help arrange this insurance for you.

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