Landlord Information

Landlord Information:

RENTAL VALUATION

It is our responsibility to honestly and professionally recognise your property’s rental potential. This is why our valuation process takes into account similar comparable properties and rental market trends, which may affect your property. A realistic rental valuation is essential to ensure your property should be let promptly, resulting in a better financial return on your investment in the long term.

TENANCY SELECTION

We adopt a very strict screening process which aims to obtain the best possible tenant for your property. Our detailed application form enables us to establish current and previous tenancy and employment history, as well as screening business and personal references. We also complete a background check on the tenants. This company and its information is only available to estate agents and will advise us if the tenants have any outstanding debts or judgements against their name from previous lease agreements. This can protect you from poor tenants. Once all this information has been obtained, we shall contact you direct to discuss the application on its merits, and the final choice of the tenant is your decision.

LEASE AGREEMENT

We prepare all the documentation, ensuring stringent legal compliance. It is also our responsibility to ensure that all requirements to the lease are clearly explained to the tenants at the time of signing this important document and the tenant has read and understand their obligations.

COMMUNICATION

It is our policy to develop open and honest communication with our clients, to build mutual trust and to maintain possible relationships with them. We deliver the highest standard of service keeping in mind the importance of personal contact.

RENTAL PAYMENTS

Our accounts department offers prompt payment of all rental income. We produce rental statements on a set date every month and a statement with a cheque can be forwarded to you, or your funds can be directly credited into your nominated bank account. This ensures there is no delay receiving your funds.

MAINTENACE

It is our policy to contact owners for authorisation before work can be carried out for large repairs. We can organise any works to be carried out on your behalf by a variety of trusted qualified tradesmen who look after all properties managed by our firm. In the event you have a preferred trade person to carry out any repairs, just provide information of these trades people for our file.

ROUTINE INSPECTION

Routine inspections are conducted on all properties. It’s our policy to ensure the tenancy is running smoothly and safeguard your financial interests.

CONDITION REPORT

Detailed preparation of the condition report is completed by our property managers both at the commencement and termination of the tenancy. Copies of the Condition Report are signed and exchanged with the tenant and kept with the property file. This ensures that the property is maintained and left in good condition. We offer as part of additional services to our clients photographic evidence supporting the condition report.

FREQUENTLY ASKED QUESTIONS

How quickly can you find a tenant for my property?

We make it our aim to lease your property at the highest possible rent to the most suitable tenant in the shortest possible time. A dedicated letting consultant handles the leasing process of your investment property, and once an authority is signed with your company, we commence marketing your property straight away. Prospective tenants that we have on our database are contacted and advised of your property and it is automatically placed on our website and counter list at our office. It is important that your property be presented in the best possible condition and at a comparable market rent. This should ensure that the property is leased within a short period of time. Prevailing market conditions will also have an impact on the vacancy period.

How do I know that my property will be managed properly?

Each client is provided with their own portfolio manager to effectively manage their property. Our portfolios are kept to a manageable size so each manager can spend an appropriate amount of time with their clients. We conduct weekly training and staff also attends external training courses regularly. The head of our Property Management Department is Perry Theo. We believe that our structure allows us to look after each client’s needs to the highest possible standard.

How do you handle non-payment of rent?

Our property managers adapt a “Zero Tolerance” attitude towards non-payment of rent. They check their arrears daily and once a tenant is 3 days in arrears, they are contacted by all available means. If payment is still not received, the tenant is contacted again and advised that should they not meet their rental commitment, a final notice will be served followed by an application to VCAT (Tribunal). Due to selecting good tenants and following these procedures, as a rule we do not experience many problems with non-payment of rent.

Do you hold the bond and do I receive the interest?

Estate agents are required to lodge all residential bonds received with The Residential Tenancies Bond Authority within five days of receipt. The interest generated is put back into the running of VCAT and other associated tenancy literature printed etc. The bond can only be released to the tenant or landlord by both parties signing a bond claim form. These signatures are matched up against those on the bond lodgement form at the commencement of the tenancy.

If there is any damage caused to my property, can we deduct money from the bond?

Monies can only be deducted from the bond if the tenant agrees. If there is a dispute between a landlord and tenant, an appropriate application needs to be made to VCAT within 14 days of the tenant vacating the premises. A number of VCAT will hear the case and make a binding decision based on the evidence presented. We encourage a landlord and tenant to resolve any disputes, applying to VCAT is a last resort.

How much do you charge?

We pride ourselves on the level of service given and an excellent track record established since our property management department began. We think it is wise for a landlord to consider all aspects of property management in coming to a decision to appoint an agent. Fees are only one component although important, a decision should never be made based on this solely. An expert property manager may cost more initially but overall, they will save you money through thorough management and sound advice. We invite you to contact our office to appraise your property and discuss a management package that suits your requirements.