Need more information?
Q. How do I change Property Managers?
Making the change is simple. You simply complete a Property Transfer Form and our office looks after the rest. Often the outgoing agent will request a 30 day termination period, which we will work towards. Our office will then notify the tenants of the upcoming change of management and organise to collect the keys & files from the agent when the time comes.
Q. What do you do to find me a good tenant quickly?
It is important that your property is advertised correctly, presents well and attracts a broad base of potential tenants. We ensure that all our properties have professional photos, when possible to do so, and also ensure our properties are listed as upgraded features on realestate.com.au along with listings on domain.com.au; rent.com.au and 3 other website portals sites. We are also very flexible with inspection times, we don’t just do open homes, we make private inspection times to ensure as many potential tenants view your property as possible.
Q. How often do you inspect my property?
Routine Inspections are completed every 3-4 months. Time between inspections can vary as we avoid inspecting properties over the Christmas / New Year period to give tenants a break. We do not inspect a property within one month of a tenant moving in. With every inspection you will receive an email report with photos attached. The report will confirm the state the property is being kept in and report back on any maintenance or issues found at the time of our inspection.
Q. How often will I receive statements & rental monies?
Tenants often pay rent weekly, fortnight or monthly. Our office disburses rents to our Landlords at the middle and/or the end of each month, being the 15th and or 30th/31st. If a disbursement date falls on a weekend or public holiday the disbursement will be completed on the business day immediately prior to the scheduled disbursement. With every disbursement you will receive a statement confirming rental funds received and confirmation of any expenses paid on your behalf.
Q. What happens if repairs need to be completed on my property?
If a tenant reports a maintenance issue we will either notify you immediately and request instructions on how you would like to proceed or if you have provided our office with a maintenance limit we will organise the necessary repairs on your behalf and provide you with a copy of the invoice, once received. Maintenance limits and instructions are confirmed when we first take over management and can be updated at anytime.
Q. Can you pay my rates, water & body corporate accounts on my behalf?
As part of our service we can pay your rates and water accounts on your behalf. Simply request your Local Council, Water & Sewerage Authority or Body Corporate Manager to send all invoices to our PO Box 554, Albion DC, Qld 4010 for processing and payment. Along with your Rental Statement you will be provided with a copy of all accounts paid on your behalf.
Q. Can I charge tenants for water used & if so, how long until my tenants make payment?
A tenant can be charged water consumption charges if a property is both water efficient and is individually metered. See link for more information (go to Landlord Services). If your property meets the necessary requirements our office can invoice the tenants for the water used. Your Local Water & Sewerage Authority Account includes two components - a water usage and a fixed charges component. Under the RTA tenants cannot be charged the fixed charges, as such the Local Water & Sewerage Authority Account must remain in the owners name and tenants are invoiced for their share of the consumption charges. Tenants must be provided a minimum of 30 days to pay the invoice.
Q. What is a rent credit and why does it show on my statement?
A rent credit occurs if a tenant pays an amount of money which does not exactly match the rental amount. I.e Rent per week $500. A payment of $510 would generate a week's rent plus $10 rent in credit towards the next week. If the tenant was to pay a further $490 the $10 credit would be used and a week's rent completed.
Q. I would like to inspect my property. What is the process?
We are required to provide tenants with a minimum of 7 days notice for inspections that are not relating to maintenance, valuations or legislative requirement. Simply contact our office and we can arrange to meet you at the property at a suitable time and provide the tenants with the required Entry Notices.
Q. How do you determine how much my home is worth?
There are a handful of methods used to determine the value of a home. The most common method is by completing a Comparative Market Analysis (CMA). A CMA is an in-depth evaluation of recently sold “comparable” homes in the past 6 – 12 months. A CMA isn’t a crystal ball that determines what your home will sell for, however, if performed by an agent who has experience in the area, and understands the property, it should greatly narrow the sale price range. The CMA will take into account many features of not only a home, but also the local area and neighbourhood.
Q. What are the different methods of selling my home?
The majority of properties in Queensland are sold by private treaty. This means that you offer the property to the market and invite offers from interested purchasers. Sales by private treaty generally allow greater flexibility for negotiation. For instance, a contract can be signed ‘subject to' certain conditions such as a building inspection or finance approval. When offering a property for sale by private treaty you have the ability to vary the price or even not list a price whilst it is on the market! You will also have the opportunity to consider each individual offer from potential purchasers. And it is the agents obligation to present all written offers to the vendors for consideration. A Second option to selling your property is to invite offers to purchase by a specified time and date. This is typically called For Sale by Expressions of Interest (EOI). In these instances, a property will generally be on the market for 4-6 weeks to allow potential purchasers to view the property. If they are keen to buy, the agent will ask them to complete an Expression of Interest. Expressions of Interest will close on a specified day and time, and each potential purchaser will need to put forward their best and final offer (in writing). As well as a price that the purchaser is willing to pay, conditions of sale will also need to be added to the offer, including settlement dates, finance conditions and inclusions and exclusions of the sale. After EOI's close, they will be discussed with the vendor. It's important to know that your offer can only be shared with the vendor. It cannot be disclosed to any other party, such as other purchasers. The third option, and a common option for vendors who require an urgent sale, is Auction. An Auction is a three pronged marketing push. You may be able to sell your property before auction, on the day of auction, or in the event the property is passed in, directly after auction. The vendor is able to set the reserve price, settlement date and any other terms, to suit them. The auction process creates a sense of urgency, buyers have a definite timeframe in which they must act. Buyers see other purchasers as competition. An Auction creates a competitive environment. With sale by auction, all contracts are unconditional and no cooling off period applies.
Q. What are the fees associated with selling my property?
Fees and charges associated with selling a property can vary. Listed below are some of the 'usual' expenses you can expect..
- Commission and marketing expenses payable to your agent
- Search costs
- Government charges e.g. stamp duty and registration costs
- Discharge of mortgage (if applicable)
- Your proportion of rates and taxes as at the settlement date
- Conveyancer's fees
- Moving costs
Q. Can I sell my house on my own?
It is not a legal requirement to use an agent to sell your property. You may elect to undertake the process yourself. However, there are many reasons why people generally engage the services of a professional. Main reason being to achieve the best price possible for your largest asset! Aside from the obvious expertise in marketing, negotiation and selling that an agent brings, most buyers also prefer not to deal directly with the seller. If buyers know you are not paying for an agent, they will usually expect to see the house price reduced accordingly. Selling a property on your own might lead to a lot of work and pressure, without actually saving any money or maximising the end sale value.
Q. Can I sell my property while it is tenanted?
You are able to sell your property while it is occupied by tenants. Any potential purchaser must be told there is a current lease in place. If you have not previously advised your tenants that you plan to market the property for sale, there is a waiting period of 60 days after a lease is signed or renewed before a property can be marketed for sale. The tenant has the right to occupy the residence until the end of the lease term. If an owner occupier wants to purchase the property to move into straight away, both parties can negotiate and agree to terminate the existing agreement. For an investor, the fact your property has reliable tenants in place may actually be appealing and make it easier to sell!!!
Q. How frequently and by which methods do you communicate with your home sellers?
Here at Asset Plus Property, we deal with clients from all around the world. Many of our vendors live overseas, interstate, or are local, so the frequency and methods of communication will vary from client to client. The methods in which we communicate with our sellers are tailored to each individual seller. At a bare minimum, you should expect to hear from you agent at least once a week. We pride ourselves on our ability to produce exceptional results, and provide extremely good customer service. We touch base with our clients following every open home/private inspection and relay the feedback. We also distribute weekly reports outlining the property online campaign as well as the feedback chart for that specific week. For our interstate and overseas vendors, we aim to skype at least once a week as well.
Q. My application has been approved. What is the two week deposit for?
Once your application has been approved a request for a two week deposit will be made by our office. The deposit will hold the property for you until your planned move in date and will be applied to your first two weeks rent. It should be noted that the deposit is non-refundable. The property will be removed from advertising and our office will start drafting the necessary lease documentation once the deposit is paid.
Q. Should I not be two weeks in advance, as I paid two weeks rent when I first moved in?
Your rent must be to date at all times and paid in advance. The two weeks paid at the beginning of your tenancy is applied directly to rent. It is not held separately. For example if you move in on the 1st of the month, your first two weeks rent will pay you to the 14th. Rent will be due and payable again before the 14th.
Q. How much does it cost to pay rent on a credit card?
We do expect credit card payment via Macquarie Bank's DEFT System. A surcharge of 1.5% applies to all master card and visa credit card transactions. A 3.30% surcharge applied for AMEX and 3.77% for Diner Club cards.
Q. What is the rent credit, showing on my tenant ledger?
A rent credit is generated when an amount less than the a full weeks rent is paid. A rent credit is rent payment towards the next weeks rent. i.e if your rent is $500 p.w and you have a $50 rent credit; if you pay $450 you will remove your rent credit and complete a week's rental payment.
Q. Can my pet come inside my property?
Unless specifically stated in your lease, all pets are to be housed outside. You may only keep a pet at the property if agreed in advance by the landlord and it is stated in your lease agreement that pets are allowed.
Q. I am being billed for water. Why?
If your property is individually meter and water efficient, the landlord may pass on the water consumption charges. If your property is individually metered but not water efficient you may be charged excess water over 40KL per quarter.
Q. Why am I being billed for water 3-6 months after a reading has been taken?
Utility providers like "Urban Utilities" and "Unity Water" invoice 90 - 120+ days in arrears for water consumption. The meter readings are often taken 90 - 120+ days prior to the account being issued. This delay results in a delay in our ability to invoice for water used.
Q. My hot water is not hot or runs out after a few minutes, what should I do?
If you have limited hot water your hot water system may require topping up. Refer to Troubleshooting - No Hot Water. If you have no hot water please check that no switch board circuits have tripped before reporting the issue to our office for actioning.
Q. I want to install a phone line or Internet will the owner pay the installation cost and connection fee?
Tenants are responsible for the cost of supply, installation and ongoing service charges relating to telephone, internet, cable and any other services. If you are getting a new service connected which requires additional cabling or a satellite dish installed, you must first request permission from your Property Manager.
Q. Can I install picture hooks ?
Please seek approval from your Property Manager before installing any additional picture hooks. We recommend using non-nail supporting picture hooks similar to 3M Damage Free Hanging Hooks.
Q. My light bulb has blown, is this my responsibility to replace?
Light bulb replacement is the tenants responsibility. This includes downlights, flush fitted lights and fluro's. Ensure you turn off all lighting circuits before replacing any bulbs.
Q. I have power to lights, but not my power points. What should I do?
If you have power going to your lights but not power points, it is likely you have a tripped safety switch. Refer to Troubleshooting - Loss of Power. Check your switch board and try to reset the circuit breaker. If your safety switch continues to trip you will need to remove all appliances from all circuits, this includes your fridge and dishwasher. Once you have removed all appliances attempt to reset your safety switch. If your safety switch resets slowly re-install your appliances one by one until you locate the faulty appliance. If you safety switch will still not reset following the removal of all appliances report the issue to our office for actioning.
Q. How long after I vacate can I expect the RTA to release my bond?
Once keys are returned and your exit inspection is completed, your bond refund will be processed as long as there is no outstanding money owed for rent, utilities, invoices or damage. The standard time for a bond refund, where there is no claim being made, is 10 business days. The RTA will transfer the bond refund into your nominated account.
Q. Can I attend the exit inspection?
Before an exit inspection is completed, keys must first be returned to our office to finalise the handover of the property. It is not standard process to meet a tenant at a property to return keys or complete the exit inspection. Once the keys are returned, your Property Manager will complete the exit inspection within two business days and report back to you on their results.
Q. Am I required to get the property cleaned when I vacate?
If your lease states you must have your property professionally cleaned, you must hire a professional cleaner and carpet cleaner. A receipt must be provided to your property manager when you vacate.