10 FREQUENTLY ASKED QUESTIONS
1. Can I say I don’t want pets at my Property?
Landlords may choose to specify if Pets are, or, are not allowed in Tenancy Agreements for your Property. Our Agency can provide practical suggestions for your consideration before deciding if you will allow a pet or not.
2. Where is the Bond held?
Charging of a Bond is not mandatory. However, it is recommended as a form of security for the Landlord in the event of a Tenant breach of the Tenancy Agreement. Our Agency requires the maximum Bond (4 weeks rent) be paid by this is held by Rental Bonds ACT.
3. How and when am I paid the rent from my Tenants?
All monies received on your behalf are held in our regularly audited Trust Account. From these monies, we pay all authorized payments relating to your Property, e.g., council rates, insurance, repairs, and maintenance. Invoices are sent to you with your next statement. The Trust Account period concludes with account processing occurring on the first business day of each month to comply with Trust Account auditor requirements. We electronically transfer your funds into your nominated financial account within the next 2 business days.
4. Are all repairs done properly?
Work arranged by our Agency for your Property is carried out by a suitably qualified and licensed tradesperson. If the work required is covered by a warranty, our Agency contacts the supplier, or if the work is claimable under your Landlord or any other insurance policy, we can contact the insurer to claim on your behalf. Our Agency has access to a wide range of tradespeople who have met our Agency’s stringent criteria including required Licencing and insurances.
5. Does somebody keep track of rental payments?
Each business day rent arrears are monitored with action taken as the Legislation allows. Of course, we maintain contact with the Tenant until the matter is finalised, i.e., rent is paid or if necessary, the eviction process concludes. We keep you informed of any Notices issued.
6. What is the average length of a Tenancy Agreement?
The most common Tenancy is a Fixed Term, e.g., 6 or 12 months; giving the Investor security. We suggest a new Tenant’s first Tenancy Agreement be for 6 months to see how the Tenant performs. The Agreement may be re-negotiated before the end of each Fixed Term period. We contact you about three months prior to a Tenancy Agreement expiry with opinions and advice about rent. If a Tenant ends a Tenancy Agreement early, the Tenant is responsible to pay for reasonable associated costs as the Legislation allows.
7. How often can I inspect the Property other than for maintenance?
The Tenancy Agreement specifies that the Tenant permits the Landlord/Agent to inspect the Property during the Tenancy provided the Tenant is given notice, as required by the Act related to Tenancies. The Act states that unless a Tenant agrees otherwise, entry for inspections may not be made more than the regulated frequency per year.
8. What Insurance is needed for an Investment Property?
Before renting a Property, it is highly recommended to have appropriate insurance cover such as ‘Landlord Protection Insurance.' We can provide various brochures from Insurance Companies providing this type of policy. In addition, building and contents insurance and public liability cover are vital. Packages are typically available from your preferred Insurer for cost effective and comprehensive protection. All queries about insurance must be directed to Insurance Providers.
9. Who pays for water?
If the water is separately metered and the Property has water efficiency measures, the Tenant can be held responsible for water usage. There is a section on the Tenancy Agreement that details the conditions of water usage charges. From the date, a Tenant commences, and if specified in the Tenancy Agreement, Tenants are responsible to pay for electricity, telephone, gas plus water usage charges. The Landlord is responsible to pay Council / Shire sewerage and drainage rates, Land Tax and all corporate charges.
10. Do I pay for the telephone connection?
It is recommended that if the Property is new or has been vacant for awhile and a telephone line is not connected to the Property, the Landlord pays for a line connection. We recommend the Tenant organises the work and submits the account to us for the Landlord to pay. The Tenant is responsible to pay for the service connection to the line and all services used.
To ask other questions and to find out about the services we provide to Investors, contact Wholistic Property Management
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