How do you determine the best rent for my property?
We always strive to achieve 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. To do this, we consider these factors:
• Demand – Is there currently a high or low demand for rental properties? This can be seasonal and affected by a number of factors.
• What is available now – We look at properties currently available for rent and consider their location and features for comparison to calculate a maximum rent for your property.
• What has recently being leased – We compare your property to what we have currently leased, taking into account property location, features and inclusions.
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 than your recommendation?
You may place your property on the market at whatever rental amount you wish. However, keep in mind that it is market demand that sets the rent, and if the market (i.e. prospective tenants looking for a rental property) think that the asking rent is 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!
What is the length of the average tenancy?
For residential properties, the fixed term is usually 6 or 12 months.
What tenancy documentation is required?
All tenancies are subject to the Residential Tenancies Act. The tenancy documentation includes:
• A statutory Tenancy Agreement
• A statutory Premises Condition Report
• A Rental Bond Lodgement Form (now available online)
• A New Tenant Checklist from the NSW Office of Fair Trading.
Who signs the tenancy documentation?
This is your choice. However, it is usual practice for us to sign these documents on your behalf. We will, of course send you copies of any documents signed on your behalf.
May I give you special instructions for my property?
Yes. You may give us some special instructions in relation to the property and the way it is managed, provided the instructions are lawful. These special instructions will need to be either specified in the Management Agency Agreement or provided in writing to us
If I allow a pet at my property, what expectations will be given to the tenant regarding their pet?
If a pet is permitted we will provide the tenant with strict written conditions. The major conditions would be that:
• The pet must be removed from the property if it becomes annoying or bothersome to
neighbours (after reasonable warning has been given in writing).
• The tenant must be responsible for any damage caused by their pet, and clean up any mess left by the pet.
• The tenant must have the carpet professionally cleaned and the property professionally fumigated upon vacating the property.
What happens when the Tenancy Agreement expires?
The Agreement continues on a continuation (or holding over) basis. Each party will then be required to give the following notice period to terminate the Agreement:
• Tenant: 21 days
• Owner: 90 days
It is not necessary to renew a Tenancy Agreement when the fixed term period ends. In fact, in Sydney most landlords and tenants choose not to enter into a renewal agreement once the initial fixed term expires.
While we can request that a tenant renew their Tenancy Agreement for a further fixed term, we cannot insist that they do so. Any renewal agreement must be mutually agreed between the parties.
What keys must be supplied to the tenant?
All tenants listed on the Tenancy Agreement must be given a full set of keys. This includes keys to all external doors, windows, garage or letterbox locks. We retain a full master set of keys at the office.
This may necessitate having keys cut at your expense.
How secure must the property be?
The law requires that an owner must provide and maintain locks and other security devices to the property in order for the property to be “reasonably secure”.
It is recommended that key operated deadlocks be fitted to all external doors and windows.
Who is responsible for the maintenance of the smoke alarms and light globes?
It is the landlord’s legal responsibility in NSW to provide working smoke alarms and light globes, and to fix any leaking taps prior to the commencement of the tenancy.
During the tenancy, the tenant is responsible for replacing any smoke alarm batteries and light globes. We are not legally qualified to check the functionality of smoke alarms and as such recommend the use of qualified professionals for that purpose.
Who pays for the water usage?
If there is no individual meter for the rented premises, as in the case of blocks of older style units, a tenant cannot be changed for water usage. However, the tenant is responsible for any cost of water used during the tenancy if the property has an individual water meter and has legally prescribed water efficiency devices.
It should be noted though that Sydney Water requires that water availability and usage accounts must be paid in full by the owner of the property. We then request reimbursement from the tenant for the water usage component of the account.
I have a house, therefore who is responsible for maintaining the lawns and gardens?
Unless otherwise agreed, the tenant is responsible to maintain the lawns and gardens to the standard they were given at the start of the tenancy.
If the property is provided with watering systems these need to be working and kept maintained during the tenancy.
How can I terminate the tenancy?
There are 3 main ways that a tenancy can be terminated.
1. To end the tenancy at the end of the fixed term. A tenant will need to provide 14 days notice to end the tenancy and the landlords are to provide 30 days when the fixed term of the agreement is due to expire.
2. To end a tenancy after the fixed term has expired (i.e. a continuing tenancy). A tenant is required to give at least 21 days notice and the owner must give at least 90 days notice to terminate the agreement any time after the fixed term has ended.
3. To end a tenancy due to a breach. A 14 day termination notice may be given at anytime if either party breaches a term of the agreement, or if the tenant is more than 14 days in arrears of rent.
Who is required to pays for any damages caused by the tenant?
The question of what constitutes damage and what is considered acceptable “wear and tear” is always an issue in property management.
In cases of damage to a property attributable to a tenant that is not considered normal wear and tear, normally the bond will provide sufficient protection to remedy the damage.
If not, the owner can take action in the Tribunal against the tenant. Also, landlord protection insurance can cover this type of situation.
Who will you contact in case of any emergencies?
We will always contact you in case of emergency situations. However, if it may be difficult to contact you on a routine basis, we suggest that you nominate someone locally to act as your representative in case of an emergency and that this person is advised of the extent of their authority. That person’s name and contact details should be recorded in the Management Agency Agreement or alternatively, provided to us in writing.