PROPERTY MANAGEMENT FAQ: Whether you are a first-time investor or experienced property investor, there is a fair chance you will have a couple of questions for us. Here are a few that pop up from time to time that you may also be wondering about.
We have put together a list of Frequently Asked Questions for Property owners.
1. How do you qualify applicants for a rental property?
One important strategy when finding new tenants is to not rush to judgement. We seek information about applicants to give you confidence that they’ll be good tenants and pay their rent in full and on time.
It includes steps:
- An interview with one of our property manager
- A 100 point 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 find more information about prospective 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. Once interviewed and reference checked by us, applications that met the criteria will be presented to you for approval before any tenancy documentation is entered into.
2. How do I change over to Encore Property Group from other Agency?
This is very simple. Our property manager will supply you with a letter to sign and we will take care of the rest. We will notify your tenants and also collect all the information necessary to commence managing your investment. Just give us a call and we will manage all on your behalf.
3. What is the process of engaging a property manager?
Your first step is to give us a call or send us an enquiry. We will then send you the information pack outlining our services. We will offer a free market appraisal based on a market comparison of other properties in your area.
Should you wish to engage us as your Property Manager we will then commence the leasing process. We will firstly introduce you to our Property Management Team and introduce you to your personal Property Manager. Should your property already be tenanted and managed elsewhere the change from agent to agent is streamlined – we handle everything on your behalf including tenant inspections, forms, and all relevant regulatory requirements.
4. Do I need landlord insurance?
We strongly advise that all landlords take out not only investment insurance through an insurance agency but also landlord insurance. Landlord Insurance provides cover for your property against loss or damage caused by tenants, whether malicious, accidental or deliberate. It can also cover loss of rent due to tenant default.
4. What do I do if I want to sell my Investment Property?
We specialise in renting and managing investment properties but fortunately we also have a sales team in the office. Just ask us and we will be happy to help.
5. How quickly can you put a tenant into my property?
here is no easy answer to this question. In our world today it is a known fact that over 90% of prospective tenants use the internet to find homes. We endeavour to make your property really stands out from the crowd by delivering high-quality advertising and marketing on various internet platforms like www.realestate.com.au and many more. This includes multiple high-quality photos and detailed descriptive copywriting text in all property listings and advertisements.
Take a look at the rental advertisements on our website and see for yourself! We even do videos of each property when requested, and social media campaigns.
We have invested in the latest online technology to allow people to enquire about a property, receive inspection alerts and apply for a property all online...
Basically we make it as easy as possible for a potential tenant to get information about your property, inspect it and apply for it. This all results in more applicants to choose from, so you get a suitable tenant into your property as quickly as possible.