Information for Landlords / Investors

Our Rent Arrears Policy

At the commencement of the tenancy, our tenants are supplied with deposit books, allowing them to pay directly into our Trust Account where funds are held for your protection. Tenants may also pay rent via the internet or by direct debit from their bank account. Providing flexible methods of payment eliminates excuses of why rent has not been paid.

Prior to signing a Tenancy Agreement with us, our tenants are advised we maintain a zero tolerance on rent arrears and are fully informed of the processes we carry out, as outlined under the Residential Tenancy Act, should they fall behind in their rent.

   

Our Unique, Extremely Comprehensive Property Conditions Reports

You can be confident that our Property Management Team is very thorough when completing Ingoing and Outgoing Inspection Reports to protect your Investment. If there is a dispute at the end of the tenancy over the condition of the property, it is the initial condition report which will be referred to to resolve the matter.

In addition to our written Ingoing Condition Reports, we also take internal and external digital photographs of the property prior to the commencement of the tenancy to again assist in eliminating end of tenancy disputes. Ask to see an example of our exclusive, comprehensive Ingoing Condition Reports.

   

What is a Property Condition Report?

This is a report that is compiled at the commencement of a tenancy prior to your tenant moving into the property. This report outlines the condition of the property at the commencement of the tenancy and is used when the tenant vacates to ensure that the property is left in the same condition. This is the last inspection carried out as soon as possible after the end of a tenancy, when the tenants have returned their keys.

The Property Condition Report is used at this inspection and each item is checked off to make certain that the property is in the same condition as when the tenant took possession. It is at this inspection that any items that need to be rectified by the tenant are identified.

   

What is a Routine Inspection?

Routine inspections are conducted after a tenant takes possession of the property and are conducted on a quarterly basis. These inspections are essential to ensure that your property is being maintained to an acceptable standard and to identify any maintenance that may be required.

A copy of the routine inspection report is forwarded to you after each inspection and should it be necessary, a member of the Property Management Team will contact you to discuss items noted on the report.

   

Landlord Insurance

Not all tenants are bad, but you do need to make sure you are covered should something go wrong.

While most tenants take good care of the property they are leasing, those that don't may intentionally cause extensive damage.  Intentional damage is not covered by many standard home insurance policies nor is the failure to pay rent.

The valuable common features of a Landlord Insurance policy include:

- Malicious or intentional damage to the property by the tenant or their guests

- Theft by the tenant or their guests

- Loss of rent if the tenant defaults on their payments

- Liability, including for a claim against you by the tenant, and

- Legal expenses incurred in taking action against a tenant.

It's important to remember that not all landlord protection policies are the same.  Some, for instance, are designed to be implemented in addition to a typical home and contents or strata title policy while others are more comprehensive.

Some policies allow cover for the contents of the property.  This is particularly important if you rent a partially or fully furnished property.  Speak to your First National Pope Nitschke Property Manager and they will be able to help you find the right policy.

   

Your Guide to Purchasing and Managing Investment Property

Property represents a very secure and sound, long term form of wealth creation. And as such, Australians are increasingly turning to property investment to secure their future.

A well-managed investment property can offer distinct advantages, including income and capital growth. Many investors may also be able to use their investment to reduce tax payable on their assessable income.

Property is also a good option as part of an investment portfolio, particularly with people who do not need immediate access to their money and wish to protect themselves against inflation over the long term.

It is important to be aware however, of the responsibilities of managing your property investment and assuring proper care and responsibility. As considerable money is at stake, you need to take the time to get good advice before you act - and remember, consideration of any investment presents wide and varied alternatives and there are always plenty of experts ready to pass on their opinion. It is wise, therefore, to always seek appropriate advice from a qualified financial advisor or your accountant.

First National Real Estate offer an informative Property Management Guide designed to provide an overview of the considerations required for any owner of an investment property.

Click here to request your FREE copy of First National Real Estate's Property Management Guide.
 
Of course, if there is anything else you need to know, just ask. We are more than happy to help.