FREQUENTLY ASKED QUESTIONS
How do you establish the current rental value of a property?
Establishing the market rent will depend on a number of
factors. These include seasonal demand and the availability
and price
of competing properties. Market rent will be established
through consideration of the following:
- The quality of the home and the standard of inclusions
- Direct comparison of your property with similar properties
currently offered for lease and recently let in the
area
- Current levels of supply and demand
- The consensus of opinion of our Property Management
Team
How will you market my property?
Exposing the property to the market is vital to ensure
competitive activity. We have a proven and tested
methodology that includes
the following:
- Direct promotion by a “For Lease” signboard
on the property
- Web site exposure
- Advice regarding new listings to all prospective
tenants on our waiting list
- Advertisements in the local papers
- Personalised inspection tours
- Open house events
- Direct marketing to major employment groups
An ongoing progress report will be provided to
you as part of the service.
How do you select a suitable tenant?
We are absolutely focused on the need to have
the property occupied and producing the
best possible
return for
you. At the same time it is essential that
the tenant is suitably
qualified
for your property.
We undertake all due diligence in the tenant
selection process, realising that this
is the key element
of our responsibility
and a core function of tenancy management.
At all times the owner has the final
decision on
acceptance
of a
tenant.
In our experience fewer than two percent
of tenancies present problems of any
significance, and these
are usually a result
of changes in the tenant’s relationship, employment or
financial circumstances that could not have been foreseen.
We have the expertise to deal with these situations fairly
and firmly should they arise. However, we strongly recommend
that you take out a suitable investment insurance policy to
safeguard your interests.
What is a tenancy agreement?
A Tenancy Agreement and an Entry Report
accompanied by photographs form
the basis of the contract
entered into
by the stakeholders. At the initial signing of the lease documents and before
handing over the keys, the tenants are thoroughly briefed
on their responsibilities under the Tenancy Agreement, a
copy of which will be provided to you.
When do you review the rentals?
Successfully investing in property
means achieving the best
possible return on your investment.
Approximately two months
prior to the expiration of the lease, we review the current
rent, and in consultation with you we assess if any increase
is warranted, and to what extent. This decision is obviously
dependent on prevailing market conditions.
How do I know my property is being looked after?
To ensure your property is
being well cared for, we
carry out an inspection approximately
six weeks after a new
tenant moves in, and every four months thereafter. When a tenant vacates the property we carry out a thorough
inspection and compare the condition of the home to the Initial
Entry Report. The result of this inspection will determine
whether the tenant’s bond is returned.
How am I kept updated?
What you can expect from us:
- Rental income directly deposited into your nominated
bank account by the second day of every month
- A monthly rental statement
- An end-of-financial-year summary statement
- Tenancy Agreements
- Ongoing property management condition reports
- Ongoing newsletters
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