The Answer to All Your Property Management Questions
What happens if the tenant doesn't pay rent?
We have a no tolerance rent arrears policy.
At Wolfbrook Property Management we pride ourselves in our careful tenant qualification and screening processes. Applications are approved ONLY on the grounds that we are confident that the rent will be paid on time. However a minority of tenants still get behind in their rent, despite all of our tenant screening procedures.
We have sophisticated systems in place to minimise arrears including phone, SMS, email and letter-based reminders along with the use of a direct debit payment facility for tenants to further automate the rent payment process.
What is the bond money used for?
The tenants must pay the equivalent of three weeks' rent as bond when they move into the property.
If the tenants have permission for a cat or dog, a $100 pet bond also applies which can be used for fumigation at the end of the tenancy.
The bond money is to be used to cover any damages, cleaning, outstanding rent and/or water accounts at the end of the tenancy.
Our bonds are held with Tenancy Sevices.
Can the landlord come on periodic inspections?
Yes, our inspections are completed at regular intervals with periodic inspections occurring every 90 days. An owner is welcome to come along to each inspection if they wish.
We will provide the owner with a detailed condition report, a schedule of recommended routine maintenance and photographs after each inspection.
At the end of each tenancy we will inspect the property and ensure that the tenant leaves the property in its original condition (fair wear and tear excepted). We also advise the owner of any maintenance or renovation work that may be required
Do you recommend landlord insurance?
Owning an investment property should be a rewarding experience with an uninterrupted cash flow whilst having your property adequately cared for. Unfortunately sometimes this is not the case, when a tenant lets you down or when unexpected events occur. Landlord insurance is designed to cover some if not all of the losses that can be incurred.
It is important to review any landlord insurance policy to ensure that the coverage is what is required as not all insurance policies are the same.
Does the landlord have a say in who is put into the property?
Yes, we strive to provide you with the calibre of tenants that you want in your rental property. This includes:
- A thorough identification check;
- A detailed tenancy database search;
- Verification from their current/former landlords/agents;
- Verification of their employment;
- Verification that they can afford the rent and all other monies payable under the tenancy agreement.
In addition to the normal financial qualifications, we always try to accommodate the housing needs of our tenants to ensure the property they rent is convenient to their work, shopping and desired school district.
This will help to ensure that they will be happy tenants and remain longer in your rental property.
Unless you instruct otherwise, all tenancy applicants - once interviewed and reference checked by us - will be presented to you for approval before any tenancy documentation is entered into.
Can I sell my investment property with a tenant in it?
Yes, we have "teamed up" with one of the best real estate sales companies in our market area to sell your property.
For information on how we can help you sell your property, call or email us.
Do you recommend to fully-furnish our house to attract tenants?
We have many corporate companies as well as the general public who require furnished properties from time to time.
Some leases may vary from quite short term to several year terms and therefore as furnishing a property can incur quite a cost some owners may not wish to let their properties furnished if the properties are going to have a higher turn over of tenants.
If a property is bought to Wolfbrook Property Management as a furnished property we will always advise the owner of the current demand of furnished properties and if the demand is low we may recommend that the property be advertised as the option of unfurnished to ensure that the property has continual cash flow.
What happens if the tenant doesn't maintain lawns and gardens?
We understand that lawns and gardens are an expensive asset and are difficult to "bring back" once neglected, therefore we at Wolfbrook Property Management take extensive photographs at the commencement of the tenancy and at each routine inspection, these are checked at the following inspection to ensure that there is no deteriation since the last.
We also carry out monthly drive by inspections, ensuring that the property is being maintained in between the regular inspections.
If the tenant is not maintaining the property then we will issue breach notices, follow through with a termination notice and court eviction if required, all at the owner's discretion of course.
If my property is managed with you is it a risk free investment?
Investments are never risk free, however, residential property management in real estate has become highly competitive over recent years and we have no doubt you will find another agent who will offer to let and manage your investment for a very low fee.
They can afford to do so as they usually do not specialise in property management, but merely see it as an adjunct to their sales income.
Sales continues to be the most important area for the majority of real estate companies.
Professional residential property management is a totally separate and highly skilled area of real estate that demands well qualified and experienced personnel plus an effective and systemised approach to management. Just Property Management has developed "cutting edge" property management systems and procedures that ensure effective letting and management to maximise our clients' investment returns. We believe that these systems and procedures will heavily reduce your risk.
And that's what it's all about - maximising investment opportunities.
We firmly believe that no other estate agent can provide you with the quality and consistency of service that has built our reputation for excellence in property management.
Assuring you of our prompt attention and the very best service at all times.
More Property Management Resources
To find out more information about property management check out our property management resources page.
If you are currently a tenant and have questions about how property management works you can also find more information in our tenants frequently asked questions page.
Or if you are interested in becoming a property investor but are not sure how to purchase your first investment property you can read our guide on how to get mortgages for investment rental properties.