Landlord Tips When Choosing a Managing Agent !

Choosing the right agent to manage your investment property is one of the most difficult tasks you’ll face as a landlord!

By Jade Young

28-02-2018 |
Choosing the right agent to manage your investment property is one of the most difficult tasks you’ll face as a landlord!

On a daily basis, we demonstrate to our existing landlords that we offer the ideal combination of professionalism, experience and commitment, because property management is much more than just collecting rent or striking a deal on fees.

While we’re commercially competitive, we don’t compromise on training, systems, equipment or standards that enable us to assure selection of quality tenants, timely rental payments and minimal vacancies.

Here are some tips on property management:

What is a property condition report?

This is a report that is compiled at the commencement of a tenancy, prior to a tenant moving into your investment property. This report outlines the condition of the property at the commencement of the tenancy and is used when the tenant vacates, after keys have been returned, to ensure that the property is left in the same condition.

After vacation of your investment property, the Property Condition Report is referenced and each item is checked off to make certain that the property is in the same condition as when the tenant initially took possession. It is at this inspection that any items that need to be rectified by the tenant are identified.

What is a Routine Inspection?

Routine inspections are conducted after a tenant has moved in and are conducted every three - six months. These inspections are essential to ensure that your property is being maintained to an acceptable standard and to identify any maintenance that may be required. A copy of the routine inspection report is forwarded to you after each inspection and, should it be necessary, a member of the property management team will contact you to discuss items noted on the report.

What happens if a tenant stops paying rent?

If a tenant falls behind in their rental payments, they are issued with a notice of breach. This advises them that they are behind and requests they rectify the problem. If this is not done within the stipulated time period then a termination notice is issued, requiring that they vacate the premises.

How do tenants pay their rent?

Tenants have several options to pay their rent, leaving no excuse for late payments.

* By cheque or money order
* Internet Banking through their chosen financial institution
* Direct debit from their nominated bank account - we will supply the tenant with our account details to arrange an automatic transfer.

When does the rent money get paid into my account?

At the end of each month, all monies held, unless instructed otherwise, are paid to you by way of direct debit to your nominated bank account. A statement is issued at the same time outlining the debits and credits for that month for the purpose of being filed for your tax at EOFY!

For further information on the above or for your full Rental Proposal, contact Jade Young on 4933 5544 or via jade@davidhaggarty.com.au !