FREQUENTLY ASKED Questions

There’s a lot to understand about property management so we’ve gathered a list of the most commonly asked questions.

What insurance cover is needed?

It is best you discuss this with your current insurance company and advise them that the property is to be tenanted. We urge you to check your policy ensuring that you have the correct coverage and it is strongly suggested you consider Landlord insurance.

How is payment made to the owner?

Accounts are processed at mid-month being the first working day following the 15th day of the month and at end of month being the first working day following the last day of the month. Your statement will show rent received for the month less our fees and deductions for accounts paid. Copies of accounts are attached to the statement. Your rent proceeds are credited electronically to your bank account.

Payment of council rates, land tax, water & other charges?

The Agent can disburse these payments from the income received on your behalf. (note. forms to be completed by the owner to instruct all utilities).

What is the length of the average tenancy?

It is most common that tenancies are arranged for a fixedterm agreement, being either six or twelve months. These terms are negotiated towards the expiry of each period, by first contacting you, and then submitting your offer to the tenant. Fixed term tenancy agreements can only be terminated at the end of the Agreement if either party does not want to renew the agreement, by giving written notice. The notice must be given to the other party 42 days prior to the date on which vacant possession of the premises is required. The tenant can break the Tenancy Agreement in this circumstance we act quickly to let you know and seek your instructions.

Can I choose the tenant?

If you have indicated to your Property Manager that you would like to be consulted, once we have suitable applications processed, we will contact you to discuss and you then make the final decision as to which applicant you would prefer as a tenant.

What happens if my tenant breaks lease?

We understand that circumstances change and sometimes tenants may need to vacate during a fixed term lease agreement, however, this shouldn’t cost you as the owner. A tenant is able to “break their lease” in a fixed term lease agreement and here is what you need to know:

• The tenant is responsible to continue making rent payments until the day before a new tenancy commences, or the end of their fixed term lease, whichever comes first

• The tenant is responsible for the $110 advertising fee to re-advertise the property and begin searching for new tenants

• There is no letting fee or advertising fee payable by the owner

• We arrange open homes directly with the tenant and process applications as per the usual advertising process

• Usual final inspection and exit report procedures are followed

• As the outgoing tenants rent ceases the day before a new lease commences, there is no vacancy period for the owner