LANDLORD TOP 10 FAQs

1. Can I choose who rent my property?
Yes. You, as the landlord, maintain complete control over this process at all times. We write advertisements, complete the marketing campaign, hold open-for-inspections, find and interview potential tenants and process a shortlist of applicants for your consideration. We only present tenants who meet our strict selection criteria while ensuring that the property suits their requirements (such as location, amenities, transportation, etc.). This means that both parties can have the best chance of smooth and satisfactory transactions. Our process provides you with all the information necessary for making an accurate, informed decision about who rents your property.

2. How long will it take to find a tenant?
While our vacancy rates are among the lowest in Australia with a constant stream of tenants looking for new homes, as well as an extensive database of prospective tenants, unfortunately there is no generalised answer to this question. Time frame varies depending on a number of factors such as local market conditions, the time you decide to rent your property (seasonal) and the price you are prepared to accept.
However, the quality of your marketing material and the methods you choose to employ directly impact the amount of time needed for your property to rent. Because we know that every customer is different, our marketing material and advertising methods are individually tailored for to each listing. We do not use a ‘one size fits all’ approach.

3. What happens if my tenant doesn’t pay the rent?
If your tenant stops paying their rent their lease will be terminated, no exceptions. In short, we put great pressure on tenants who continuously avoid paying their rent via emails, text messages, phone calls, letters, etc. We do everything we can to ensure that tenants who do not pay are aware of any notices of breach and/or termination that we send them.
Fortunately, we pay particular attention to selecting the right tenants in the beginning of the lease in order to prevent these problems from happening down the track. We require a satisfactory rental history and personal/workplace references from all of our tenant applicants.

4. Why is landlord insurance so important?
“Prepare and prevent, don’t repair and repent.”
As the quote suggests, we strongly suggest purchasing landlord insurance for your property. For a minimal fee, you and your property are protected from a multitude of risks. We’ve also made it a compulsory policy for every client we manage. There is no legal requirement for landlord insurance but it is imperative in protecting your investment.

5. How do I make money from Depreciation?
Obtaining a depreciation schedule for your property and claiming legal tax deductions may enhance your returns. We highly recommend seeking advice from your taxation advisor in order to fully understand the benefits of a depreciation schedule for your property.

6. Can I sell my property with a tenant in it?
Yes. There are various methods for achieving this effectively. We are also able to work in conjunction with your selling agent to further enable this process.

7. When will I receive my rental income?
We complete our payment run on the last business day of every month with your rent appearing in your nominated bank account soon after.

8. What should my property rent for per week?
Due to a constantly fluctuating market, knowing exactly what a property should rent for is a constantly changing balance between science and art.
We begin with a proprietary software program that assess a range of factors such as comparable properties, location, median price data, etc. in order to produce an indication of rental price. Then we reference the pricing against a number of sources such as (but not limited to) historical records, geographic information and school zones.
We are looking at rental properties every single day which gives us a unique and detailed knowledge into all the factors that add or subtract value.
Our process is completely transparent and all the information and reasoning used in this process are provided to the landlord.

9. How often are inspections?
We keep a careful eye on your property throughout the lease, making sure that the tenants are treating your property with respect. That’s why we take care in assessing the exact condition of your property inside and out with routine inspections every 6 months of the tenancy.

10. Should I consider pets for my property?
Allowing pets in your property enables you to charge a higher rent for your premises and can make your offering more attractive to a larger tenant pool. However, some tenants are not as thoughtful as others.