We will thoroughly check all employment and previous tenancy references in addition to checking a national tenancy database. We also require a 100 point identification check for each applicant.
We run a trust account for all rental and bond monies which is audited every year. Each year we have been audited, we’ve received a clean slate with no exceptions reported to Fair Trading. We take the responsibility of trust monies very seriously and reconcile this account every banking day.
We’ll take care of paying your council rates, water rates, strata levies and any maintenance expenses. Your rental monies less any expenses will be transferred to you at the end of each month and an electronic statement with all paid invoices will be emailed to you at the same time.
At the end of each financial year, you’ll receive an electronic statement summarising your income and expenses. Just forward this to your accountant and they will take care of the rest. It’s that easy.
It’s so important that your property is inspected regularly to check on how your tenants are living in your investment. Sometimes, they don’t notice that repairs are required and sometimes they are just too busy to take the time to let us know. When we book our routine inspections, we ask the tenants to let us know of any issues they are aware of.
If, for example, we come across a garden that needs attention or a property that is not satisfactorily clean, we will ask the tenants to attend to the issue and we’ll go back in a few weeks to make sure all is ok.
We cannot over emphasise the importance of ensuring that repairs and maintenance are completed in a timely manner. In fact, it’s so important, we have team members dedicated to taking care of all maintenance items on the investment properties we look after.
We’ve established strong relationships with trades so that we can a) maintain competitive pricing and b) call on them at short notice to have emergencies and other jobs dealt with fast.
A few weeks prior to your tenants lease expiring, we’ll be in contact with you to let you know if your tenant is staying on or, if we will need to find you a new tenant. At the same time, we’ll let you know the market rent for your property.
That said, we’ll be keeping you up to date with the vacancy rate in inner Sydney each month as well as market conditions we are seeing on the ground.
Ninety nine percent of Let’s Rent tenants pay by direct debit. The small percentage that aren’t are generally on company leases. By using this method and having zero tolerance for any arrears, even if it’s just one day it’s late, we’ve been able to reduce our arrears to less than half a percent of our portfolio on average as measured at the end of each month.
Our management of arrears starts before the tenant has even moved into your property. As part of the induction process, when a tenant is signing the lease, they sign to say that they understand Let’s Rent does not tolerate arrears and any arrears in rent is a breach of their lease agreement.
We’ve been doing this a long time and we’ve found that talking to potential tenants is our first port of call when determining if they are the sort of people you would like living in your property. Crazy isn’t it but we can tell so much from those conversation that is not mentioned in an application.
Of course there is the formal application process to and we are diligent in ensuring that employment, tenancy and personal references are checked. We also check a national tenancy database for any outstanding matters against the applicant.
We prepare and sign the lease with the tenant on your behalf, including Let’s Rent’s additional special conditions to further protect you and inform the tenant to our expectations during their tenancy. The condition report forms part of this and is a thorough record of the condition of your property including photographs prior to the tenant taking possession.
Ultimately this is a risk area for any owner of an investment property. We are proud of our advertising record on realestate.com.au and in the last six months we have achieved the highest engagements for advertisements in the suburbs of Darlinghurst, Maroubra, Petersham, Annandale and Birchgrove.
We are committed to responding to tenants and keeping them up to date with property open times and any changes in rental pricing. We require all tenants to register to see a property which gives us the opportunity keep them updated and provide you with quality feedback.
Our priority is to minimise the risk of vacancy while maximising your rental return. Our systems and procedures are set up to ensure that we are pro-active when it comes to the potential of your tenant vacating or managing a totally new investment property.