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Here's the 10 questions most often asked by our landlord clients ... |
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1 How much does
Prudential Real Estate charge to manage a rental property ?
2 How much rent should I charge for my property ?
3 What if my property is currently managed by another agent ?
4 Why shouldn't I manage my property myself ?
5 How much notice do I need to give ?
6 How much notice must a landlord give a tenant when advising of a rent increase ?
7 What is the difference between "fair wear and tear" and negligence ?
8 What is the maximum bond a landlord can charge a tenant ?
9 How far must the tenant be in arrears with their rent before formal eviction proceedings be commenced ?
10 What are the steps involved in a formal eviction ? |
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1 How much does
Prudential Real Estate charge to manage a rental property ?
Our professional fees are discussed in detail in the section called "Costs" Simply click
here to view this
section |
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2 How much rent should I charge for my property ?
Your property is not only worth what a tenant will pay but what a good agent can negotiate for you.
In order to accurately establish the most likely rent level for your property we recommend you arrange a thorough external and internal inspection by our senior property manager, Kerrie Meldrum.
She will then actively compare your property with others currently on the market and recently leased to calculate the premium rent level for your property.
You can phone Kerrie on any weekday on 4628 0033 or
you send her an email by
clicking here. |
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3 What if my property is currently managed by another agent ?
If your property is currently managed by another agent and you would like to change to
Prudential Real Estate simply call our senior property manager, Kerrie Meldrum and she will handle
the transfer personally.
She will arrange the correct notice to the other agent, manage the collection of all documents and liaise with the tenant to ensure a smooth transition.
This whole process can be handled without your involvement.
Our job is to make the whole process easy. |
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4 Why shouldn't I manage my property myself ?
Although the vast majority of rental properties in Australia are managed by licensed real estate agents
many owners are often tempted to "have a go themselves”
After all, what can go wrong ?
We have prepared a special one-page report to help you work out if self-management is the right choice
for you and your family. Click
here to view this report now. |
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5 How much notice do I need to give ?
One of the most common questions asked by both tenants and landlords is “How much notice do I need
to give ?”
For a tenant the following periods apply ;
During the fixed term - Firstly, if the landlord breaks one of the terms of the agreement the tenant can give
14 days written notice to vacate. Otherwise, the tenant can give 14 days notice to vacate prior to the
expiry date of the agreement.
After the fixed term has expired – 21 days
For a landlord the following periods apply ;
During both the fixed term of an agreement and during any continuing agreement a landlord can ask for
vacant possession if the tenant has broken any one of the terms of the agreement, including being in
arrears with rent payments a minimum of 14 days.
After the fixed term has expired and the tenancy becomes a continuing agreement the landlord can obtain
vacant possession by providing either 60 days notice (without having to state a reason) or 30 days notice
in the case that the property has been sold and one of the terms of that agreement is that the landlord
provide vacant possession to the purchaser. |
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6 How much notice must a landlord give a tenant when advising of a rent increase ?
Rent can only be increased once the fixed term of the agreement has lapsed.
And in all cases the tenant must get 60 days notice in writing of the proposed increase. |
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7 What's the difference between "fair wear and tear" and negligence ?
Essentially negligence is damage that occurs to the landlords premises (or fixtures and / or fittings) which
was caused by the tenants lack of care, whether deliberate or accidental.
Fair wear and tear, on the other hand, is that “damage” to the landlords premises which occurs during
normal usage over the time of the tenancy.
This is a very grey area of the law and it seems that every time we ask for compensation for negligence at
a tribunal hearing we are often handed slightly varying decisions.
This is often a question that is best handled on a “case-by-case” basis and as such a call to any of our
property management staff will often be the best answer in each case. |
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8 What is the maximum bond a landlord can charge a tenant ?
In the case of a furnished property the bond would be the equivalent of 6 weeks rent and in the case of an
unfurnished property it would be the equivalent of 4 weeks rent.
Given the fact that, under the present system, it takes up to 6 or 7 weeks to obtain vacant possession for
a property when a tenant refuses to maintain their rent payments the amount of the bond is usually
insufficient to cover lost rent let alone any possible damage.
As a result we always recommend “Landlords Insurance” to cover all contingencies over and above the
bond. This type of insurance is generally inexpensive and provides wonderful peace of mind. If you
would like some information about this type of insurance simply call our office at any time. |
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9 How far must the tenant be in arrears with their rent before formal eviction proceedings be commenced ?
A tenant must be at least 14 days in arrears before a landlord or their agent can begin any formal eviction
proceedings. |
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10 What are the steps involved in a formal eviction ?
Most eviction proceedings stem from the tenant falling into arrears with their rent. If this is the case then
formal steps for an eviction can only commence when the tenant is at least 14 days behind with their rent.
Once this has occurred we issue a correctly formatted notice advising the tenant that they have a further
14 days to correct their arrears. In addition we have to provide a minimum 4 days for postage of such a
notice.
So, even before we apply to the residential tenancies tribunal, the tenant is usually 32 days behind with
their rent.
The next step is to make formal application to the tribunal for a hearing. Even if we fax this application and mark it urgent, our notice of a formal hearing date can take a week
and a hearing date a further 2 weeks away.
By the time the tribunal hands us a formal eviction notice the tenant is sometimes 7 weeks in arrears and,
unless the landlord has insurance to cover such an eventuality, the only financial comfort might be the 4
weeks rent paid as a bond at the beginning of the tenancy.
The solution is LANDLORD INSURANCE. We can help you choose the best type of landlord insurance for your
circumstances so you need never have to worry about damage to you property or tenants falling into arrears and
being evicted. And the cost is generally only a few hundred dollars a year – a cheap price to pay for peace of
mind.. |
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