Property Management FAQ’s

We get asked a lot of questions about our property managers and the services we provide, so to make things easier for everyone here are frequently asked questions.


What is the length of the average tenancy?

For residential properties, the fixed term is usually 6 or 12 months.

 


 

How long will it take to lease my property?

At Wise, our average time to lease your property varies depending on market conditions, however in recent months it has averaged less than 14 days.


 

Do you guarantee the tenant?

As the paying of rent and the maintaining of the property is purely voluntary on the tenant`s part, we cannot guarantee any tenancy outcome. We can only use our professional skills and experience to verify that the tenant can afford to pay the rent and to form an opinion on whether the tenant will maintain the property to an acceptable standard.


 

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.

– A New Tenant Checklist.


 

What is an ‘Entry Condition Report?’

This is a report prepared by your property manager at the commencement of a lease prior to your tenant moving in. It states the Condition Report details the condition of your property at the commencement of the tenancy and is used when the tenant vacates to ensure that the property is left in the same condition allowing for fair wear and tear


 

Can I increase the rent in the middle of a lease period?

The rental rate set in the contract will hold throughout the lease term unless there a special provision allowing a rent increase in your tenancy agreement. If not, at the end of the term, you must provide tenants a written notice of the intended increase.


 

What if the tenant wants the locks changed?

If the tenant wishes to alter the existing locks or add other security devices to make the property more secure, the tenant must obtain the owner’s prior consent and pay all costs. The tenant must provide the owner/agent with a copy of any new keys.


 

Can I inspect the property whenever I like?

You can, however, the tenant needs to be given 7 days notice. The Owner/Agent are limited to a maximum of 4 inspections in any 12 months period.



How much notice does the tenant need to give if they want to move out?

End of lease: The tenant must give 28 days notice in writing if they which to vacate.

Prior to the lease expiring: They must pay break lease fees which are: rent until a new tenant is found or the lease expires, which ever comes first.



Is it compulsory for owners to have landlords insurance?

It is not compulsory to have landlord insurance for your property. Landlord insurance is a good part of risk management. Landlord insurance covers you against theft and damage (accidental or malicious) by your tenants or their guests; it also covers rental income loss due to unpaid rent (depending on the circumstances) or vacancy while insured damage is repaired.



What are the different types of repairs?

There are two main types of repairs out lined by Under the Residential Tenancies Act 1997, urgent and non-urgent.

Urgent repairs: a burst water service, toilet system, serious roof leak, gas leak, dangerous electrical fault, serious flooding, storm/fire damage, failure of essential service/appliance failure of gas/water/electricity, fault causing unsafe premises, fault causing substantial water loss or a lift/staircase fault

Non urgent repairs: do fall into the above list and can be fixed within 14 days of an agent/owner being notified.


 

We would love to help with any questions about your property, please contact our office anytime on 1300 00 or email info@wiserealestateadvice.com.au

  • +61 3 9982 4545





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  • Wise Real Estate Advice

    Wise Real Estate Advice
    Reviewed from Google

    5 out of 5 stars

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    Hari Krishnan

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    Ken Stewart

    5 out of 5 stars

    posted 6 months ago

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