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FAQ Investors

What if I don’t want pets at my Property?

Landlords may choose to specify if Pets are, or, are not allowed at your Property. If you elect to allow pets, the Residential Tenancies and Rooming Accommodation Act 2008 (RTRA Act) outlines the Tenant’s responsibility with having them at a rental Property and our agency requests the tenant sign a specific pet agreement to outline the terms in which the tenant is allowed to have the pet.

Where is the Bond money kept?

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 QLD Residential tenancies authority and held there until the Tenant vacates the premises and an Exit Condition Inspection and report is completed and we are satisfied the Tenant has returned the Property to the condition as per the Entry Condition Inspection report. The Bond is then dispersed appropriately.

When do I receive my rental funds?

All monies received on your behalf are held in our Trust Account. From this money we pay all authorized payments relating to your Property EG: council rates, insurance, repairs and any maintenance. Invoices are sent to you with your statement. To comply with Trust Account auditor requirements, the Trust Account period ends on the first business day of each month. We electronically transfer your funds into your nominated financial account on the same day if this falls on a Saturday it will be done on the following Monday. If the Monday is a public holiday it will be done on the next business day.

Who organises repairs?

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.

What if the tenants fall behind in rent?

Each business day rent arrears are monitored with action taken. If the Tenant is 2 days in arrears a reminder is sent. If rent is in arrears on the 4th day, we issue a formal letter as a reminder. If the rent is in arrears in the 7th day we make a call to the tenant. In the event the tenant falls two weeks behind, a Notice will be sent to the tenant and you for your reference. If rent continues to be unpaid we issue a formal Notice to Leave (with your approval) when the law allows and send a copy to you. We maintain contact with you until the matter is finalised.

What is the average length of a Tenancy Agreement?

In today’s market less Tenants are requesting 6 month tenancies due to the costs of moving premises and the desire to have security with their home and the knowledge the rent will not alter over the next 12 months. We suggest a new Tenant’s first Tenancy Agreement be for 12 months to see how the Tenant performs. If the market allows a rent increase this can be written into the Agreement at the 6 month mark.  The Agreement may be re-negotiated before the end of each fixed term period. We contact you about 3.5 months prior to a lease expiry with options and advice about rent.

Can I inspect my property and how often?

The Tenancy Agreement specifies that the Tenant permits the Lessor/Agent to inspect the Property during the tenancy provided the Tenant is given notice, as required by the Residential tenancies authority. You are a landlord are more then welcome to attend the inspections that the agent will be holding throughout the tenancy.

What Insurance is needed for my property?

Before renting a Property it is highly recommended to have appropriate insurance cover such as ‘Landlord Protection Insurance’. In addition, building and contents insurance is vital and public liability cover is a compulsory requirement. Packages are typically available from your preferred Insurer for cost effective and comprehensive protection. All queries about insurance must be directed to Insurance Providers.

Who pays for water?

The Landlord is responsible to pay Council sewerage and drainage rates, Land Tax and all corporate charges.  From the date a tenancy commences and if specified on the Tenancy Agreement, Tenants are responsible to pay for electricity, telephone, gas plus water charges over and above the average allowance incurred. The Landlord can pass on full water consumption costs as long as their Property meets certain criteria (see fact sheet for more information).

Do I pay for the telephone connection?

It is recommended that if the Property is new or has been vacant for a while 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.