A. This is the million-dollar question, and it really depends on how your agency is set up. Landlords want to know that the property manager can handle the workload, will be able to give them quality customer service and regular communication. If you can tick those boxes then your portfolio size will be negligible. You can check out this blog post which breaks down how many properties a property manager can manage.
A. It is one thing to follow up with a tenant when they are in arrears, but it is another to recover the funds if a tenant does leave the property owing money and or damaging your investment. Ours starts with the application form, we utilise the information on it to commence our investigations, you will be surprised how useful that form can be in debt collection, especially if the tenant is refusing to communicate.
In the worst case scenario, we will represent you at QCAT, will communicate and share with you the outcome of QCAT hearing, we will follow the directive of the hearing and exhaust all means necessary to retrieve all money that is owed. At the end of the day we are reinsuring you will do everything in your power to ensure you as our landlord isn’t out of pocket.
A. Depending on the Management Agreement you choose, being options 1,2 or 3. Options 1 and 2 you are always guaranteed rent even if your tenant falls behind or stops paying rent. Option 3 is our General Agreement. Our agency has Zero tolerance to rent arrears and we clearly out line this when a tenant is approved for any of our properties. However, if they do fall behind we follow our Agencies policy which stipulates our steps clearly. We are proud to say that we have very few issues in this area.
We highly recommend Landlords insurance, as a means of protecting your property if things do go pear-shaped throughout the tenancy. If this does occur our insurance team member discusses the options with you and proceeds accordingly and swiftly. We are happy to discuss your options of who we recommend for your Landlords Insurance and help you to obtain a policy that best suites you and your investment.
A. Maintenance can make or break your relationship with your tenant. It is the number one reason most tenants leave a property. This is why when we conduct a routine inspection that all maintenance that is reported is noted on the report, this report is sent to you as the owner and we will be in touch to discuss the options.
A procedure would look something like this; tenants call through an emergency or urgent repairs, all other non-urgent repairs are discussed at routines or put in writing to their property manager. Emergency maintenance should be responded to within 24 hours, urgent within 48 hours, and non-urgent after routine inspections or on approval. As long as you the landlord and your tenants know the expectations it will reduce issues long term. And will build a strong relationship between all 3 parties concerned.
A. We follow the legislative requirements for conducting routines, ie every 3-4 months. We conduct a thorough entry and exit inspections as part of our servicing of your property as well. All property inspections are very much a part of our customer service, our reports are full of photos, details and a maintenance that will be discussed with you as required. We find that it is imperative that our owners are always kept clearly informed and up to date about the up keep and care of their properties.
A. We prefer to disburse our owner rental payments weekly on a Friday. This will be accompanied with a statement that clearly out lines your payment, fees and expenses. If there is any concerns or questions in regards to the Statement our helpful Accounts Manager will be happy to talk you through this with you.
A. We like to offer all opportunities to rent the property as quickly as possible for them. As a rule of thumb, we hold two open homes per week for vacant properties (one for tenanted), however, if a qualified potential tenant wants to view the property at another time, we will certainly accommodate them. At the end of the day we are in the business of renting properties, we have a goal of renting properties within two weeks.
A. We Advertise on major rental website portals including realestate.com.au and Domain and even Facebook and other Social media platforms
A. Though all our agents have many exceptional years’ experience. Our team leaders are also part of the daily management of your property. We find that our owners feel more confident in dealing with our agents, as they have the knowledge of not only your biggest financial investment, but the tenants and you as an individual client.
A. Rental reference, employment reference checks, confirmation of income, National tenancy default database checks like TICA. We have also added social media as another check in the screening process. We will discuss each application thereafter with you prior to making that very important decision on who will be living in your property
A. Merlot Residential, has three different packages that we are happy to discuss with you.
Option 1. Guaranteed Rent paid weekly in advance, with a maintenance package.
Option 2. Guaranteed Rent paid weekly in advance, No maintenance package – owner to pay as required.
Option 3. General Property Management Agreement, rates Negotiated according to the property and area.
A. Our business core values are based on customer service, communication, teamwork, and innovation. With our teams combined years’ experience in Real Estate netting over 100 years, each of our agents are very well accomplished and Highly experienced with exceptional knowledge in all areas of the Legislation. Giving you the confidence that you need to trust that your unique property will be cared for at the highest standards.
A. This is one of the most important questions to ask a property manager or your landlord when moving into a rental property. Every individual has their unique needs and requirements. If your landlord is looking to keep tenants for a minimum of two years at a time and you do not want to avail the rental property for more than a year, you should make it very clear at the very first point of discussion.
A. Have decided upon moving into a rental property? Before you sign the lease agreement, you need to figure out how your landlord or the property management company check your tenancy history. Usually, a property manager or a landlord does their best to do a detailed background check before handing over the rental property to you. It is the responsibility of the property manager to check your tenancy history as they strive to protect their client’s investment. You need to ask the property manager or your landlord about which system they use to check your creditworthiness or any breaches in your rental history.
A. Having a clear idea beforehand about which payment methods are accepted by your landlord will help you to plan your life better. You need to ask the property manager or your landlord about which payment method do they prefer. This will also create a good first impression. To make it easier for you to pay your rent on a regular basis, most landlords prefer online payments (Direct Debit/bank transfer, etc.). The online payment method is trusted by most landlords because it is highly convenient and secure for both the parties involved.
A. Lease agreements do not have a fixed format. Some of them include utility bills (water, electricity, gas bills) as a part of the total rental payment. On the contrary, some lease agreements do not include utility bills. There might be special cases where a lease agreement could also include garden maintenance. The format of the lease agreement is set by the landlord himself. This is why you need to ask the property manager or the owner if any other bills are included in the rental agreement.
A. Usually, landlords have their own repair person or contractors to take on maintenance works or to handle any kind of emergency situation at the property. If your landlord has hired property management services, a property manager will get quotes from repair contractors of their choice. However, it is wise to discuss this issue with the property manager or the real estate agent to make sure you know what to do if the rental property requires maintenance.
A. To avoid any mishap over the course of time, you need to discuss the rental arrears policy with your landlord or the property manager in detail. If your landlord has hired property management services, the property manager will give you a clear picture of their rental arrears policy. Asking this question at the outset of the tenancy could put you in a difficult situation as most landlords would want a tenant with a good financial condition.
A. It is foolish to assume that your landlord’s property insurance will cover any damages caused to your valuable belongings. Your landlord’s home insurance will only cover the apartment or the house they are renting out but not your valuable items. You need to arrange for your own contents insurance if you want to protect your valuables.
A. The terms and conditions of the tenancy agreement are set by the property owner. Some landlords opt for a flexible lease agreement which requires only a single tenant’s name. However, some landlords prefer a rigid structure which requires every individual over a certain age to sign the agreement. Some of them allow pets and children and some don’t. If you have children and pets or if you are planning to expand your family, be upfront and inform your landlord at the very beginning.
Merlot Residential Australia (MRA) is a full service real estate agency focusing on investment property sales and asset (property) management of all MRA Property homes.
3/36 Harvest CourtSOUTHPORT QLD 4215
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+61 7 5528 1002
+61 7 5528 1009
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