Our team of property investment specialists have compiled a list of the most frequently asked leasing, financial and property questions.

LEASING

Marketing

The tenant’s first contact with your property is through marketing. Quality photography and first-rate copy writing will make a great first impression. The importance of an attractive signboard cannot be overstated. Brochures and floor plan are important optional extras.  

Asking Rent

It’s important to start the marketing with an appropriate asking price. Too high a start and many potential tenants will be scared off never to return. Of course too low and you’ll be giving your money away. We are always studying the market so we can be in a position to offer you accurate advice, saving you time with a vacant property.

Tenant Application

Our tenancy application is proven to establish a true appraisal of any potential tenant. We follow up all relevant credentials and references to make sure the tenant will be able to pay the rent on time, care for the property and be willing to co-operate if there is a problem.

Holding Deposit

A holding deposit can only be accepted once the tenant is approved. In NSW a holding deposit means the tenant has 7 days to complete documentation or forfeit the deposit. During these 7 days the landlord is not permitted to rent the property to another tenant. This effectively means that once the deposit is accepted so is the tenant.

Documentation

Preparation of all necessary documentation including tenancy agreement (with special conditions to safeguard the property and landlord), condition reports, strata by-laws (if applicable), rental bond lodgement, tenant checklist and key receipt.

Signing of tenancy agreement

Before the tenant signs the tenancy agreement we make sure they are fully aware of their responsibilities. Our 15 point check list is very thorough and clearly explains our expectations.

Pets

Should you consider allowing pets we will include the following special conditions,

  • The tenant will make good any damage caused by their pet
  • Carpets will be steam cleaned and fumigated at the termination of the tenancy.

We are not, however, allowed to increase the bond more than 4 times the weekly rent.

FINANCIAL

Landlord Statement

All of our statements are processed on the last working day of the month as standard. The Landlord Statement is prepared showing all monies collected for the month less all expenses that we have paid on your behalf. The balance of funds will be deposited to your nominated bank account and the statement forwarded to you via email. At Property Quarters we understand that every landlord’s needs are different and we are very willing to accommodate your particular requirements.

Outgoings

As part of our service in managing your property we are available to pay all expenses relating to the property.

Water Usage

Water usage can be invoiced to the tenant where the property is separately metered and water saving devices have been installed.

Budgeting & Planning

An essential part of property investment is budgeting and planning. We prepare an annual budget and review actual income and expenses on a quarterly basis. These results, any possible rent review and other property matters will be discussed with you at least quarterly either in person or over the phone.

PROPERTY

Routine Inspections

We conduct two routine inspections per year. Of the two inspections, one will be a report by phone or a quick email and the other will be formal written report.

Repairs & Maintenance

It’s important to maintain the condition of the property and the relationship of the tenant by acting quickly on all items requiring maintenance or repair. Even if we have instructions from you to act on your behalf we will first try to contact you.

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