RENT APPRAISAL

We can provide you with a realistic market rental appraisal on your property ensuring that you can begin receiving your rental income with the least vacancy time.

 

PROPERTY VACANCY

We understand that many property owners rely on their weekly rent to meet mortgage commitments and every endeavour is taken to minimise vacancy periods.

 

All things being equal, there are 2 main reasons why properties don’t rent:

 

• Price – In any competitive situation a property that is priced over the market will be passed over for the next property, so it is imperative that your price is within the market’s reach

• Marketing – This is the next main reason properties can sit vacant, but getting this right can help minimise any vacancy period.  Many people have heard the expression “you can’t sell a secret” well, the same principle applies for rental properties. 

 

INSURANCE

We strongly advise our landlords to inform their insurance company of their intention to let so that any subsequent claim will not be jeopardised. This applies to both building and contents insurance. The tenants will be responsible to insure their own contents.

 

TENANT SELECTION

Tenant selection is one of the key areas to a smooth and hassle free property tenancy. It follows that correctly selecting the right tenants is one of the primary methods we use to minimise extra expense for our clients.

 

At NOW Rentals we thoroughly check the background of your prospective tenants.

 

This involves:

• Proof of identity

• TICA check (this is a Tenancy blacklist)

• NTD (National Tenancy Database)

• Personal references

• Past and present rental history

• Employment status

• Affordability for your property

Which means when we refer any tenancy applications to you for your approval you can rest-assured that you are making decisions with all the available facts.

 

TENANCY AGREEMENT

We will draw up the Tenancy Agreement.  We will arrange a date for the tenant to sign the agreement, and forward to you for signing or Now Rentals can sign the agreement on your behalf.  A fully signed copy will then be held on file.

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RENT TO PAY

All tenants are required to pay 2 weeks rent prior to moving into the property and a further week’s rent a week later.  This ensures that the rent is always 1 week in advance. 

 

BOND

Also prior to moving into the property, the tenant is required to pay 4 week’s rent as a bond which is then forwarded to RTA.

 

KEYS

Owner to provide 3 sets of keys.  Rental keys are never handed out unless to a licensed maintenance contractor who is registered with NOW Rentals.  Security of your investment property is paramount.

 

PROPERTY/INVENTORY/ENTRY REPORT

A Property Manager will compile a detailed inventory and property condition report. This will include all furnishings, together with a schedule of fixtures and fittings. This is a very important document which forms part of the contract, as the tenant signs this to agree that all items are in the property at the commencement of the tenancy and in the condition stated. Photographs are also taken internally prior to the commencement of the tenancy.

 

Before a tenant moves into the property gas/electricity and water meters (where applicable) are read and the readings are confirmed in writing to relevant utility companies together with details of the new occupier.

 

ANTI-DISCRIMINATION LAWS

Under federal and state anti-discrimination laws, real estate agents cannot accept discriminatory direction from lessors.

 

Both the agent and the lessor are legally liable if complaints are made. It is neither fair nor lawful to pressure an agent to break the law.

 

When selecting tenants, the only requirements that can be addressed are:

 

• The number of people suitable to reside in the property

• The tenant must be able to prove that they have and can maintain the weekly rent

• The tenant must be able to prove that they have and can maintain a rental property in a clean and tidy condition

 

Unfair discrimination happens if you treat someone less favourably simply because of their sex, age, race, nationality, marital status, the fact that they have children, sexual preferences, disability or impairment, pregnancy, religion or political beliefs.

 

You do have the right to choose the most suitable tenant provided no unfair discrimination occurs.

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During the Tenancy

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PAYMENT OF BILLS

We offer a “worry free package” where we can organize payment of any bills associated with your property e.g. rates, pest control, insurance, maintenance from your rent account.  We will mail invoices to you immediately upon payment.  This ensures that you know exactly what rent amount is coming to you.

 

RENT COLLECTION

We will collect the rent and bank into your nominated bank account

 

REPAIRS & MAINTENANCE

During a tenancy, if the property requires any maintenance or repairs, these will be organised up to our “approved maintenance amount” You will be advised of any such repairs and approval will be sought from you for anything over our approved limit before authorising such works. We reserve the right however, to instruct contractors to carry out emergency repairs if required.

 

All tradespeople engaged by NOW Rentals must complete a Contract Appointment form and provide a copy of their License and evidence of their Public Liability Insurance before carrying out any works on our rental properties.  We also ask for ABN numbers and Worker’s Compensation details.

 

Should you have preferred tradespeople we are more than happy to engage their services provided they supply us with the aforementioned information.

 

INSPECTIONS

The first inspection of your property will be carried out after 3 months of the tenancy. Here we will be able to establish the general condition and report back to you with feedback. We can then assess when to carry out the next inspection according to how well the tenant is looking after the property. Thereafter your property will be inspected on a 6 monthly basis, unless otherwise instructed.

 

SMOKE ALARMS & WATER USAGE

• Legislation and local regulation dictate how these must be dealt with.

• Now Rentals provides full information on smoke alarms and water compliancy, brochures have been included in this booklet for your perusal.

• It is vital that legislation is strictly adhered to, particularly in relation to Smoke Alarms and it is important that the responsibilities and obligations of investment property owners are fully understood.

• Water Usage regulations can change from time to time, and we will keep you fully informed on any changes and put in place the necessary systems to facilitate collection of tenant’s contributions as necessary.

 

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GARDEN MAINTENANCE

If your property has gardens it might be in your best interest to employ a professional to maintain it.  This ensures your property’s increase in value.

 

POOL MAINTENANCE

We recommend that if your property has a pool, that it be serviced monthly by a professional pool company.  The cost could be included in the weekly rent.

 

MONTHLY STATEMENT

You will receive a monthly statement and an End of Financial Year Summary at the end of June.

STS

We get asked all sorts of questions i.e. “can we install Pay TV”, there’s a snake in the roof”, “can we put a fence up”.  We will advise you of any requests and work through accordingly.

 

RENT ARREARS

Our office has a “Zero Tolerance” policy for rent arrears and a review of tenancy rent accounts is performed on a daily basis.  All tenants are advised of their responsibilities regarding the payment of rent during the sign-up process and are fully informed of the process should they not fulfil these obligations, i.e.

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• Reminder phone/SMS at 3 day’s arrears

• Notice to Remedy Breach sent when reaches 8 days in arrears

• Contact Owner, seek instruction, act in accordance with written instructions

• Terminate tenancy if required

   

  We recognise that your rental income is vital to the success of your investment and we take every precaution to minimise tenants falling behind in their rent.

 

RENTAL INCREASES

We realise the importance of rental returns and their ongoing role in complimenting the growth of the value of your property.  We constantly monitor the market rent on your behalf.  A minimum of 1 rent review is carried out per year and 1 is automatically carried out when a tenant vacates or their tenancy agreement comes up for renewal.

 

TENANT BREACHES OF CONTRACT

Apart from non-payment of rent, Tenants may breach their contract by way of, for example not maintaining the gardens or keeping unauthorised pets.  We have procedures in place to remedy these so that your investment is protected at all times.

 

LEGAL PROCEEDINGS

Our first action would be self-resolution.  We negotiate with the party on your behalf and try to come to an amicable solution.

 

REPRESENTATION IN COURT

In the event that an issue cannot be resolved it is usually a matter then for the Queensland Civil Administrative Tribunal (QCAT) to decide upon.  As your Agent, we will prepare all the paperwork and represent you in Court.

 

EXIT INSPECTIONS

Once the tenant/s has vacated the property we will conduct a thorough final inspection. We will advise you of its condition and as to whether any cleaning/maintenance/gardening work is required.  We will NOT refund the bond without your approval.

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NOW.......LET'S GET STARTED!

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WHAT WE NEED FROM YOU:

 

• Your photo ID is required and verification of Ownership i.e. Title Search ($22.95)

• Verification that the property has sufficient and appropriate Insurance cover.  A copy of policy details are to be provided

• A copy of the Landlord’s Insurance Policy.  Ask for our recommendation

• 3 sets of keys to be provided (2 for the tenant and 1 set to be held in the Office)

 

 

DUTY OF CARE

 

As a property owner you have a “duty of care” and a legal obligation to protect the tenant and look after the investment property.

 

Failure to carry out this obligation could result in serious consequences. 

 

The property must be kept in safe and a well maintained condition, which is safe for the tenant to live in.

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IN FINISHING………………..

 

Our goal is to add value over and above the traditional functions of property management. 

 

We believe it is about helping to create wealth and maximize returns.

 

Communication is paramount in building successful relationships.

 

We are excited at the prospect of helping you move forward with your Property Management needs.  Please do not hesitate to call or email with any questions.  We are only too happy to help.

 

In short…………. WE WONT LET YOU DOWN!!!

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