How long will it take to find a tenant for my property?
It is difficult to put a time frame on this as there are many variables to consider when your property is on the market for lease. Some properties lease in 1 or 2 days and other may take 1, 2 or 4 weeks depending on the market conditions at that point in time. Those properties that are well presented and are marketed at a fair market rate, will generally lease quickly. It is also important to consider the time of year as depending on the suburb of your property, some months may have stronger demand than others.
You can rest assure that Raine & Horne Strathfield, understand that vacancies come at a cost to our clients so our number 1 priority is to ensure you have a good quality tenant as quickly as possible in your investment property.
How do you determine the rental price for my property?
Setting the correct market rent will ensure that your property will be rented as soon as possible.In order to achieve you the maximum rent possible, we consider the following factors:
- Market demand – this can be seasonal or affected by other factors.
- Stock availability – what other properties are available right now for rent and how do their location and features compare to your property? This will allow us to calculate a maximum rent for your property.
- Other rentals – how does your property compare to other homes that we have previously rented for other clients?
How can I be sure the tenant is not damaging the property?
Although your new tenant was thoroughly screened during the application process, there are no guarantees of any accidents that may occur. However, through the conduction of regular routine inspections, your property manager will be able to advise you of the condition of your investment and any repairs that are required at the property. Should there be any cause for concern your Raine & Horne agent will contact you to discuss this.
Do I need landlord Insurance?
Yes. It is extremely important that one of your largest investments be covered by insurance. There are several policies our there so be sure to read the fine print so you know what you are covered for. Most policies cover you for loss of rent, malicious damage, public liability and some items of content such as curtains or carpet.
What if my tenant doesn’t pay his/her rent on time?
Rent arrears are something we take very seriously. This is why at the Raine & Horne Strathfield we have a strict arrears procedures that our property managers must adhere by to ensure any arrears are paid as quickly as possible. Communication via phone, email , sms and by mail, ensure the tenant is made aware of the problem and asked to remedy the arrears immediately. If the rent is more than 14 days in arrears your tenant will be sent a notice to vacate the property.
Your property manager will notify you when your tenant becomes in arrears and will discuss the action plan moving forward.
When will I receive the rent?
We understand that many of our landlords rely on the rent to meet finanical commitments associated with thier investment property. We offer our Landlords both mid month and end of month disbursements which can assist in better managing your financies.
We also suggest our landlords allow a week’s grace period from when their tenant’s rent is due, to correspond with mortgage payments and other periodic bills.
How are maintenance and repairs handled?
This is completely up to you. Should you want to be notified of all repairs first, just let your property manager know. If you have a particular tradesperson you would like us to use, that’s fine too. For any large repairs, your property manager would be happy to arrange more than 1 quote for you. It is important to note that should an emergency repair occur at the property after office hours, the tenant can arrange for an emergency repair to be carried out without the approval of agent or owner as per the lease agreement.
We want you to have peace of mind that when it comes to repairs, we ensure our preferred tradespeople are fully qualified and insured so your property is maintained to the highest standard.
What should I do if I want to sell my property or arrange a valuation?
That’s easy…. Just notify your Raine & Horne property manager and they will put you in touch with the sales department for a free, no obligation sales appraisal.