Thank you for considering Holdsworth Real Estate to manage your investment property.
It can be a busy and confusing time when leasing out your property. To help you through this process we’ve compiled this list of frequently asked questions.
Preparing Your Property for Rent
Before you even hand the keys over, we will have a marketing plan drawn up for your property. This will generally take the form of online advertising on the following websites:
Your property will be photographed and descriptive advertising text prepared to show off the features of the home.
Colour PDF brochures will be sent out to our corporate and relocation contacts, so that we can offer “first dibs” to them.
Your property will be shown to prospective tenants by private appointment and general home open.
We will liaise with you regularly to advise you of web and email enquiry traffic and inspection numbers.
Photographing your property is part of our service. However, if you would like your property professionally photographed, we can arrange this for you at cost. These photographs will be yours to keep.
As online advertising is now the most cost effective and preferred form of advertising, it is not standard for us to advertise your property in the newspaper. If you still prefer to advertise in print, we can arrange this at cost. Most strata companies will not allow For Lease signs to be erected on site. However, if your property is freestanding, or we have the permission of the strata company, we can arrange this for you at cost.
In addition to digital brochures, prepared and distributed free of charge, we can arrange for colour DL flyers to be produced and distributed at cost.
All applications received will be processed by your Property Manager, and then forwarded to you for your consideration and ultimate approval. Tenants will be checked on a national Tenancy Database for prior rental defaults.
It is important that we have at least 2 complete set of keys and any swipe cards for the property – 1 set for us and 1-2 sets for the tenant, depending on the number of occupants. Tenants are responsible for the cost of replacing any lost keys, swipes or remotes, and for ensuring that remote batteries are replaced when necessary. Please advise if you would like us to arrange copies of keys to be cut and swipes and remotes to be purchased from the strata company.
It is important that the property is cleaned to a professional standard, including carpets, prior to renting. The condition in the property is handed over to new tenants is the condition in which it must be left by them when they vacate. We can arrange cleaning for you.
Let your Property Manager know if you will accept any pets at the property, so that we can include this information in our advertising.
If you wish to include or exclude specific items which may not otherwise be clear, please let us know. For example, if you want to keep your own items in the store room, and keep it locked and out of bounds, we must advise prospective tenants at the home of inspecting the home. Or if you intend to leave items of furniture, again, we must advise this from the beginning.
We advise all our clients to take out Landlord Insurance. Please find attached brochures from two preferred insurers for your consideration. We will arrange this for you, just let us know.
If you have lived in the home, please make sure you disconnect any utilities that are in your name. We will arrange a water meter reading for the property if it is individually metered. Handy Telephone Numbers
- Alinta Gas: 13 13 58
- Synergy: 13 13 53
- Telstra: 13 22 00
- Optus: 1800 696 683
Due to damage that can be caused to furnishings, carpets, curtains and paintwork, our policy is that no smoking is permitted inside the property.
The Property Is Rented - What Happens Next?
We will prepare all lease documentation for the tenant to sign, lodge the tenants’ bond with the Bond Administrator, and send you a copy of the Lease.
It is imperative that a thorough Property Condition Report is prepared prior to the start of the tenancy, and handed to the tenants before they move in. We have attached an excerpt from a “PCR” showing you the detail that is involved. Detailed colour photographs also accompany this report. This important document protects both the landlord and the tenant, and is used to compare the ingoing and outgoing condition of the home at the Final Bond Inspection.
We can only demand 2 weeks rent at the start of a new tenancy, although many tenants may elect to pay additional rent in advance, or to pay their rent calendar monthly. From these funds we will deduct management fees, any leasing fee, advertising charges, property condition report fees, etc, and then pay the net amount to you at the end of the first month. If you require payment bi-monthly please let us know.
Most landlords and tenants will opt for a 6 or 12 month lease to start with. This will vary depending on when the expiry of this lease will fall due, and the future plans of each party. You may want to give the tenants a 6 month “test run”, or you might want the security of tenure that comes with a longer lease. We advise against accepting a lease that will fall due for expiry during a “dead period” such as over Christmas. An 11 month or 13 month lease may be the best option in this situation.
6 to 8 weeks after your tenant moves in, we will carry out the first Routine Inspection. At this inspection, we will check that the tenant has settled in and is maintaining the property to our standards. A thorough report, such as the report attached, including colour photographs, will be forwarded to you by email. If we need to reinspect for any reason, we will provide a 2nd report to you, at no extra charge.
A termination can be sent if the tenants are 2 days behind with rental payments. If they fail to bring rent up to date, we will liaise with you to discuss the best course of action.
If You Are Transferring Over an Already Tenanted Property
Once you have advised the outgoing agent that management is being transferred to Holdsworth Real Estate, we will contact them and arrange to transfer over any documents and keys we need.
Tenants are required to contact us within 72 hours of maintenance arising. Depending on the instructions in your Management Authority, we will either contact you for further instructions, or carry out the maintenance within the expense limit specified in your instructions. You will be advised of any maintenance arranged on your behalf, and will receive a copy of the invoice.
On rare occasions, emergency maintenance may be arranged for your property. We will endeavour to contact you in this instance or as soon after as practicable, however, the Residential Tenancies Act (1987) overrides Item 5 of the authority.
- Blocked toilet if there is only one toilet in the premises
- No Electricity
- Fire / Flooding
- Stove/Oven not working
- Any general repair
- Hot water fluctuating in temperature
- Reticulation not working
- Leaking taps
- Pest control
Renewing or Ending a Tenancy
Prior to the expiry of the lease, we will contact the tenant and landlord to discuss future plans. At this point, if the tenancy is going to continue, a rent review will be discussed and agreed upon. Lease documents will be signed and a copy forwarded to you for your records.
If a tenant advises they are vacating, we will discuss with you a new rental price and commence marketing your property to minimise vacancy.
A Final Bond Inspection will be carried out once the tenant vacates. At this point, any cleaning or repairs (if by fault of tenants) will be undertaken, and deducted from the tenants’ bond.
Your Property Manager is your first point of contact for any questions or correspondence – please do not hesitate to contact us by phone or email.
To arrange for a meeting with our Property Manager please contact us.