Mareeba Property Management
10 Questions for the Property Investor.
Whether you’re looking for a new property manager or want to get the most out of your existing one, here are ten questions you may want to ask.
1. How will you attract and retain quality tenants for my property?
Our office has been operating in Mareeba for over 20 years. We have an established data base of tenants. We have an established rent roll and a lot of our business is from established tenancies that upgrade and downgrade depending on their stage in life.
Applicants are required to be completed a detailed application form to allow for reference and data checking. We also apply the 30% rental affordability rule.
Good tenants are attracted to good properties “Like Attracts like”
Our property manager will meet you at your property before the management starts to ensure the property is presented to a high standard to ensure the best possible tenancy terms.
2. Can I say “ No Pets” for my rental property?
Most Tenants do have a dog or a cat. We do recommend owners to allow Pets so they can be recorded on the tenancy agreement. No extra bond or rent can be charged for this. Damage to the property by the pet is not fair wear and tear.
3. How often will you conduct rental inspections and review the rent? Can I also come to the inspection?
Your property will have its first Routine Inspection 12 weeks after the tenancy agreement is signed. From that point we do inspections every 4 to 6 months.
Rent reviews are done every 6 months you will be advised of the agency recommendation for a rental increase comparative to other properties in the area.
Yes, you a welcome to come along to the inspection or we can do a facetime meeting also, we encourage our owners to be active investors. You will also receive an inspection report detailing a visual inspection of the property.
4. What happens if the tenant does not pay the rent?
We have automated payment systems that makes rent payment easy and convenient for the tenant. Arrears management is a daily action of our property managers, we have zero-tolerance on late payments.
5. Who holds the Bond money?
A maximum amount equal to four weeks rent is to be paid by the Tenant as Bond prior to the Tenant moving into the Property. The Bond is lodged with the RTA and held there until the Tenant vacates the premises.
6. What should I do to make my property rental ready?
Ensure the property is maintained to a high standard. Invest in repairs in maintenance on your property.
If there are parts of the property, which require fixing or repairs, these need to be attended to immediately. All repair works should be completed before letting the property. Handling repairs and maintenance during the tenancy is carried out by the agency. We have a directory of trusted, qualified tradespeople to call on.
Emergency Repairs – After Hours Emergency Repairs Information
REIQ Fact Sheet – Emergency Repairs & Nominated Repairers
7. Who pays for Water?
Lessors are able to pass on the full water consumption charges to tenants if:
- the rental premises are individually metered (or water is delivered by vehicle), and
- the rental premises are water efficient, and
- the tenancy agreement states the tenant must pay for water consumption.
- If the property is not water wise 275 kiloliters is allocated every 6mths, if the tenants go over 275kilolitres they are required to pay for excess water.
8. What Insurance do I need for my investment property?
We recommend insurance cover such as ‘Landlord Protection Insurance’.
In addition, building and contents insurance and public liability cover are vital.
Terry Sheer – Landlord Residential Building
9. When will I receive the rent paid by the tenants?
All monies received on your behalf are held in our Trust Account. From these monies we pay all authorized payments relating to your Property e.g.repairs and maintenance. Invoices are sent to you with your statement. The Trust Account period concludes with account processing occurring on the first business day of each month. We electronically transfer your funds into your nominated financial account within the next business day. A monthly statement is generated at the same time.
10. What is your management fee?
Our fees are based on the number and type of Property management services you need us to provide.
Every Property is different and we tailor a management package specifically for your requirements.
We look forward to having the opportunity to discuss your property investment needs and the range of our services.
Outline of Fees:
- Management Fee
- Administration Fee
- Letting Fee
A quote can be done for you over the phone once we have the property address.
Getting a right agency and property manager to manage your investment property is critical for your long term success.
