How long will it take to find a tenant?
Our current average lease time is less than 10 days, although this may vary depending on market conditions. We use a targeted, aggressive marketing system that in a short period of time attracts a large number of eligible tenants.
What is the length of the average tenancy?
Most of our tenancy agreements extend for six to twelve months.
What tenancy documentation is required?
1) Statutory Tenancy Agreement
2) Statutory Premises Condition Report
3) Rental Bond Lodgement Form.
4) New Tenant Checklist (courtesy of the NSW Office of Fair Trading)
May I give you some special instructions?
Yes, as long as they are lawful. Any special instructions should be specified in the Management Agency Agreement or submitted to us in writing for approval.
If the tenant has a pet, can I ask for an extra bond?
No, charging extra bonds is illegal under NSW law.
What keys must be supplied to the tenant?
All tenants listed in the Tenancy Agreement must be provided with a complete set of keys (including keys to external doors, windows, garages and letter boxes). You will also need to give us a master set that will take place at our office. Any further key cutting will be at your expense.
What about smoke alarms, light globes and tap washers?
Before your tenants move in, you are required to fix faulty tap washers and provide working smoke alarms and light globes. Your tenant takes responsibility for replacing smoke alarm batteris and light globes after their tenancy begins. We recommend that you hire professionals to carry out smoke alarm functionality checks.
If the property is a house, who is responsible for maintaining the lawns and gardens?
The tenant is responsible for keeping the lawns and gardens to the standard they were given at the beginning of the tenancy unless otherwise agreed.
If watering systems are provided to the property, these must be operational and maintained during the tenancy.
How can I terminate the tenancy?
You may terminate a tenancy in three ways:
– By giving your tenant 30 days’ notice to end the tenancy at the expiration of the fixed term.
– By giving your tenant 90 days’ notice to end their continuing tenancy at any time after the fixed term has ended.
– In event of a breach of the tenancy agreement or at least 14 days in arrears of rent, by serving the tenant with a 14 day termination notice.
Who pays for damage?
If your property incurs damage that is not considered to be standard “wear and tear,” the deduction of the bond should be sufficient to cover any repairs. If not, you can take action at the Tribunal against the landlord or file a complaint with your landlord insurance.
What do I do if I misplace a rent statement?
Please visit our website and use your owner’s login user name and password to reproduce a rent statement. You will be able to locate on our portal the appropriate statement. You can also send a copy of the replacement statement to your property manager.
Do I need an insurance policy?
Traditional home insurance will not protect against specific rental concerns such as rental loss, accidental damage, or tenant hardship. We therefore recommend you take out a comprehensive insurance policy for landlords.
How do you determine the optimum rent?
Taking into consideration market conditions, we will always attempt to find the maximum rent possible. Here are some of the factors that we take into account:
● Demand: A flooded market or seasonal changes can affect the level of demand for rental properties.
● Availability: The cost, location, and amenities of competitive rental properties can affect the rent.
● Presentation: The presentation, marketing and display of a property also has a significant impact on its price. Calculating market rent by looking at the cost of maintaining the property, by adding their water rates, insurance rates, and loan payments, may be tempting for property owners. Ultimately, however, rental prices are determined by market demand. Setting a reasonable rent is best for prospective tenants to find feasible and start renting immediately rather than setting a high number, leaving the property vacant for longer periods of time, and costing thousands of yourself.
Do you guarantee the tenant?
We can not fully guarantee a tenant, but we use a thorough screening and our years of management expertise to confirm their ability to pay rent and take care of the property. It is the decision of thetenant to pay the rent and keep the property. We therefore recommend that you buy landlord protection insurance in order to protect yourself from unnecessary risk.
Who signs the tenancy documentation?
This decision is yours, but we usually sign tenancy documentation on your behalf and send you copies.
If I allow a pet at my property, what expectations will be given to the tenant regarding the pet?
If you decide to permit pets, we will provide the tenant with strict conditions, including that:
– Any bothersome pets must be removed from the property after a written warning
– Tenants are responsible for pet damage
– Tenants must professionally fumigate the property and clean the carpets before vacating
What happens when the Tenancy Agreement expires?
The Tenancy Agreement will continue unless otherwise specified. Before concluding the agreement, you and your tenants are required to give notice. Tenants must notify you at least 21 days in advance, while landlords must notify you at least 90 days in advance.
We usually ask tenants to renew their contracts for another fixed period, but they are not required to do so.
What if the tenant wants the locks changed?
If the existing locks are to be modified or altered by your tenant, they must obtain your consent and pay all costs. They are required to give you a copy of the new keys.
Who pays for water usage?
If, as with many blocks of older style units, there is no individual meter for the rented premises, a tenant can not be changed for water use.
However, if the property has an individual water meter and has legally prescribed water efficiency devices, the tenant is responsible for any water costs used during the tenancy.
However, it should be noted that Sydney Water requires the property owner to pay full water availability and usage accounts. We then request that the tenant be reimbursed for the account’s water use component.
Can I inspect the property whenever I like?
As long as the tenant is given a minimum of 7 days notice. You will be limited to no more than 4 inspections in 12-month period.
Can a tenant break the Tenancy Agreement?
Residential tenancy agreements are contracts that are legally binding. If a tenant wishes to break the Agreement and vacate the property before the expiry of the fixed term, the tenant shall be responsible for the following:
– Rent until the date a new tenant takes over the property, or until the fixed term expires (whichever happens first)
– Any agreed advertising costs
– The owner’s costs of a letting fee.
It is important to note that the owner/agent must make reasonable efforts to minimise any potential losses the tenant may suffer in this situation.
What should I do if my contact or payment information changes?
You are obligated to notify us in writing as soon as possible.
What happens to any mail that comes addressed to me at the property?
We recommend that you request Australia Post redirect your mail. Although it is a tenant’s responsibility to forward any mail to you, they do not always follow through.