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Kendall Real Estate

10-12 Main Street North Tamborine

07 5545 5000

07 5545 5050

admin@professionalstamborinemountain.com.au

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Investor Information

FAQ’s

What is a property condition report?

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

This is the last inspection carried out as soon as possible after the end of a tenancy, when the tenants have returned their keys. The Property Condition Report is used at this inspection and each item is checked off to make certain that the property is in the same condition as when the tenant 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 takes possession of the property and are conducted every four months. These inspections ensure that your property is being maintained to an acceptable standard and to identify any maintenance that may be required.

What is a database check?

Database checks are conducted on all tenants applying for a property. Within Australia there are two databases used by Real Estate Agents to lodge and check bad tenants. These are Tenants Reference Australia (TRA) and TICA. Any tenant who has rented through an agency that uses these databases and has defaulted in some way will be lodged on these databases. This can greatly reduce your chances of getting a tenant with a previous bad rental history.

What happens when a tenant stops paying rent?

When a tenant falls behind in their rental payments they are issued first with a SMS, an email then with a notice of breach advising them that they are behind and requesting that 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.

– 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 get paid into my account?

At the end of every month all monies held, unless instructed otherwise, is 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.

Landlord protection insurance

We encourage all our Lessors to carry Landlord Protection Insurance.

Our Lessors have peace of mind that their investment properties are being managed by a professional team. However, they also understand that sometimes tenants can fall on hard times, marriage and partnership break ups happen, tenants become unemployed due to redundancy etc. This puts a strain on the tenant’s finances; consequently one of the first accounts not to be paid is often the rent.

If cover is in place and all Notices have been sent to the tenant/s for arrears, a claim can be lodged for loss of rent up to 15 weeks.

CHECKLIST:

This list will assist you to ensure you have done all that is required by the RTA and recommended by us for a smooth and easy transition from being an owner occupied property to a rental home:

 
Home has been cleaned or organised to be cleaned to standard
‰Carpets professionally cleaned or organised to be professionally cleaned
‰Home has been sprayed or organised to be sprayed for fleas ( if applicable)
‰Home has been professionally sprayed for pests i.e. cockies, silverfish etc
‰Warranty details of pest spray provided
‰Keys for all external locks (including screens) have been provided/accounted for
3 Sets of keys and garage remotes for the number of vehicles that can be parked in the garage have been provided
Mail has been redirected.
Pool (if applicable) is or has been arranged to be in A1 condition.
Pool fencing complies with Council regulations
Instruction manuals for appliances have been provided/ accounted for.
Instructions for irrigation system, alarms etc provided
Instructions for cleaning of appliances, floors etc have been relayed
Landlord insurance has been arranged
Electricity arranged to be disconnected
Telephone and Foxtel arranged to be disconnected
Council advised of address for service of rates notices
Bank details for deposit of rental income provided
Alarm code ( if applicable) supplied
Smoke detectors checked to ensure operating correctly

 

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