QUESTIONS ANSWERED FOR NEW LANDLORDS
Our Rental Department
We have one of the largest rent roles in the City of Monash that is serviced by a team of enthusiastic, dedicated Senior Property Managers. You will benefit from their experience with careful tenant selection through to their ability to solve the day-to-day problems that may occur. Property Management is a major part of our business and we take great pride in our high standard of personalised service. For results in property management, contact a staff member within our Rental Department.
How will my property be marketed?
The most important form of advertising now is the internet. We will advertise your property on 3 websites: www.rogerdavis.com.au, www.realestate.com.au, www.realestateview.com.au.
Digital photographs (maximum of five) will be displayed. We recommend external and internal shots so your property stands out from the rest. Your property can run as a “Feature Property” on www.realestate.com.au for a week. This means the property will appear in bold above others advertised in that suburb by other agents.
Open For Inspections
Open for inspections with a staff member in attendance are done for vacating properties. Both mid-week, and saturday opens are conducted.
Can I stipulate any special conditions?
As a landlord you may wish to stipulate some special requirements to assist with Tenant selection such as:
- Short or long term lease?
- Gardening included in price.
- Number of people to live at the property.
- It is your principal place of residence (Provisions of the Act apply here).
How do we choose the tenant?
Once an application is received, all references are thoroughly checked by our Property Managers. As a Landlord, you make the final decision when selecting your Tenant.
This is a very important, comprehensive report that is completed by the Property Manager prior to the commencement of the tenancy. Photos are taken for the file to reduce any conflicts when the Tenants vacate. This report serves as evidence, to the state of the property prior the tenancy.
Security Deposit (Bond)
All tenants must pay a bond when signing the Lease Agreement, equivalent to one months rent. This is held at the Residential Tenancies Bond Authority until the Tenant vacates and is used where damage is caused to the property or rent is outstanding.
The Rental Formula
All our tenants pay monthly and to calculate this figure, the following formula applies:
Weekly rent: divide by 7 days x 365 days divide by 12 months = rental per calender month.
Rental payments to landlords
We will directly deposit your rental payments into a nominated bank account or we will post you a cheque if required ($3.00 bank fee + GST applies). You will receive a monthly statement of income and expenditure. A yearly financial statement on 30th June is available on request at no charge.
What rates do landlords pay for?
Landlords are required to pay:
- Council rates;
- Water service and park charges; (Tenants pay for water usage and sewerage charges)
- Building and public liability insurance; (Please seek advice from your broker or insurance company)
- Land tax (if applicable);
- Body corporate fees (if applicable).
These accounts can be sent to our office and we can pay them out of the rent.
When are inspections done?
During the tenancy we will carry out regular inspections of the property and a report will be sent to you. This report will contain any maintenance required and an indication of how your tenants are keeping the property.
Victorian Civil & Administrative Tribunal
If a problem with a tenant occurs our Property Managers are trained and experienced and will represent you at VCAT when the need arises. Our Company will not charge you for this service. The cost of stamp duty and postage on an Application to VCAT is $63.70. Warrant of possession, if the situation arises, will cost $111.30. (All costs subject to change by VCAT).
Repairs & maintenance
Our property managers will refer all maintenance requests to Landlords and seek instructions. Every Landlord is different, you may have your own tradesman, do repairs yourself or have us organise the tradesman. In the case where we cannot contact our Landlords, we will act on their behalf and rectify the problem if urgent. We have reliable tradesman that we use regularly.
How should I present my rental property?
We would recommend that Landlords consider the following:
- Smoke alarms must be supplied and fitted in compliance to council regulations;
- All trees and shrubs are cut back away from the house – it is recommended that Landlords do this annually, as tenants are only responsible for maintaining grass and weeds;
- Mulch the garden beds to prevent excess weeds and to reduce watering in the warm season;
- Clean out gutters and downpipes annually to prevent water leaks and rusting;
- Gas appliances and wiring in the house should be checked regularly;
- Keep a close eye on hazards at the property. Is the paving or driveway lifting from tree roots? Are steps and hand rails safe? Tenants are not afraid to claim compensation for injuries occurring at the rental property;
- Between tenancies, we recommend Landlords take the time to tidy up the property, such as washing the curtains, touching up the paintwork and removing exterior dust and webs. The general rule of thumb is ‘A clean and well maintained property will attract a good tenant’.
I am considering selling my investment property. How should I go about this?
We have an active sales team that can offer you a free market appraisal and up to date advice on marketing and selling your investment property.
Our sales team is experienced in selling tenanted properties, where possible we try and retain the tenant while the property is on the market, to reduce loss of rent. Our sales team will liaise with the Property Manager and negotiate access arrangements with tenants.
You can be confident that our professional marketing will achieve the best price for your property.