MAXIMISING YOUR RENT
How Do You Determine The Best Rent For My Property?
We always strive to get you the maximum rent possible; however we also must keep in mind setting the correct market rent to get your property rented as soon as possible. Both factors are important to present your property on the market successfully for rent.
To do this, we consider these factors:
a) Demand– Is there a high or low demand for properties at present. This can be seasonal and affected by a number of factors.
b) What Is Available Now– We look at properties currently available for rent in the newspaper and/or the internet, and consider their location and features for comparison to calculate a maximum rent for your property
c) What We Have Rented Right Now– We compare your property with what we have currently rented, taking into account property location and features.
These factors allow us to give you enough information to set the right rent for your property.
What if I want a rent amount that is higher?
You may place your property on the market at the rental amount you wish. However keep in mind that it is the market demand that sets the rent, and if the market (prospective tenants looking for a rental property) deem the amount of rent too high, your property may stay vacant longer than necessary.
With this in mind, be aware your annual rental return will be reduced by 2% for every week it is vacant!
How is the rent reviewed during the time that you manage it?
When we need to secure you a new tenant, we will always review the rent against market conditions. This will also be done at lease renewal time, or at other times when required. We will always contact you for your permission before the rent is increased.
How does someone apply for my property?
We always ask that the prospective tenant fill in an application form, signing giving permission for us to check the information provided. We will never discuss an applicant with you without this application form completed prior to contacting you.
What if an applicant contacts me?
If in the unlikely chance a prospective tenant contacts you to discuss their application, or in fact ask questions regarding their rejected application, we insist that you simply request that they contact us (your agent). If they persist we insist that you do not discuss anything further to avoid unnecessary problems and complications.
How do you check an applicant?
With the information provided we confirm their payment and tenancy history by calling their current and/or previous landlord/agent as well as confirming their employment, checking them against a National Tenancy Internet Database to see if they have been lodged as a bad tenant by a previous agent.
In some cases where an applicant may not have a tenancy history we try and confirm other information that may give us insight to show their ability to maintain a tenancy in your rental property, for example a stable employment history.
In some cases where this is not possible we may simply reject the application.
What reason do you have to give the applicant to reject their application?
Legally we do not have to give a reason and by industry practice we never give a reason.
Who selects the applicant for my property?
You do! We will simply give you the information we have collected and by using our experience give you a possible guide as to the tenancy outcome, but at the end of the day it is always your choice!
Do you guarantee the tenant?
We can never guarantee any approved tenant for your property. We can only attempt to collect information on their past history and confirm their income arrangements. As their paying of rent and maintaining the property is purely voluntary we cannot guarantee any tenancy outcome. This is a landlord risk that comes with allowing someone else to rent your property!
THE MARKETING OF YOUR PROPERTY
What Do You Do To Advertise My Property?
Once we have a signed Management Agreement authorising us to act on your behalf, we list your property in the following forms of advertising:
Your property along with photos is entered onto the following websites, maximising coverage to any prospective tenant using the Internet to locate a rental property.
Whilst not used for all properties as the majority of prospective tenants will enquire through online advertising, properties that are in need of higher exposure and upon the landlords request will be advertised in the local newspaper at cost.
3. Tenant Database
As a full service real estate agency, we record prospective tenants details in our database. If a property comes up that we think they may be interested in we will contact them to inspect the property.
4. Signboards & Brochures
For higher end properties and those that require extra exposure, we may organise for a professional signboard and brochures to be distributed.
5. Professional Photos
We will organise a professional photographer to take photos of your property to be used throughout the advertising campaign.
We will erect a ‘For Lease’ sign on your property within 2 working days of listing (if signs are agreed to).
We will place a listing for your property on all the real estate websites that we subscribe toand each listing will include at least 6 photographic images of the property.
Your property will be accurately described and advertised and if mutually agreed to by us be placed in the local newspapers.
We will conduct an unlimited number of private viewings of your property and at least one ‘Open for Inspection’ each week until the property is leased (subject to access provided to us by any current occupant).
All property viewings will be carried out by one of our representatives (we do not give out keys to prospective tenants).
We will update you on the status of your available property at least twice each week and provide you with a weekly marketing report until such time as the property is leased.
LEASING YOUR PROPERTY
All information and references provided by tenancy applicants will be verified by us within 1 working day of receipt.
All tenancy applicants will be screened.
Unless you instruct otherwise, all potentially suitable tenancy applications will be referred to you for a decision.
We will lease your property for the rental amount nominated in the Management Agency Agreement between us unless changes are permitted with your approval.
Subject to the tenancy commencement date and the tenant’s availability, we will prepare the tenancy documentation within 2 working days of tenancy approval.