Property Management & Investment
Your guide to purchasing and managing investment property.
Property represents a very secure and sound, long term form of wealth creation. And as such, Australians are increasingly turning to property investment to secure their future. A well managed investment can offer many advantages including income and capital growth. Many investors may also be able to use their investment to reduce tax payable on their assessable income. Property is also a good option as part of an investment portfolio, particularly with people who do not need immediate access to their money and wish to protect themselves against inflation over the long term. It is important to be aware however, of the responsibilities of managing your property investment and assuring proper care and responsibility. As considerable money is at stake, you need to take the time to get good advice before you act - and remember, consideration of any investment presents wide and varied alternatives and there are always plenty of experts ready to pass on their opinion. It is wise, therefore, to always seek appropriate advice from a qualified financial advisor or your accountant.
Please call our property management office on (02) 9651-1109 for more information
What is a property condition report?
This is a report that is compiled at the commencement of a tenancy prior to your tenant moving into the property. This report outlines the condition of the 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, taking wear and tear into consideration.
This is the last inspection carried out as soon as possible after the end of a tenancy, when the tenants have returned their keys. The Property Condition Report is used at this inspection and each item is checked off to make certain that the property is in the same condition (less wear and tear) as when the tenant took possession. It is at this inspection that any items that need to be rectified by the tenant are identified.
What is a Routine Inspection?
Initially a Routine Inspection is conducted when a new tenant has had possession of the property for three months and then at six monthly intervals.
These inspections are essential to ensure that your property is being maintained to an acceptable standard and to identify any maintenance that may be required. A copy of the routine inspection report is forwarded to you after each inspection and should it be necessary, a member of the Property Management Team will contact you to discuss items noted on the report.
What is a database check?
Database checks are conducted on all tenants applying for a property through First National Real Estate. At Dural First National we have conducted a study and decided that TICA is the most widely used database in our area and is therefore, the database the we use. Any tenant who has rented through an agency that uses this database and has defaulted in some way will be lodged on this databse. This can greatly reduce your chances of getting a tenant with a previous bad rental history.
What happens when a tenant stops paying rent?
When a tenant falls behind in their rental payments we notify them of the breach and request immediate rectification of the problem. If the breach is not recitifed a Termination Notice will be issued when the arrears reach 15 days. In accordance with the Residential Tenancies Act 2010, this is the earliest opportunity to issue a Termination Notice for arrears.
How do tenants pay their rent?
Tenants have several options to pay their rent, leaving no excuse for late payments.
- Internet Banking through their chosen financial institution
- Bpay through their chose financial instution or Australia Post (Quickrent card)
- By cheque or money order
When does the rent money get paid into my account?
At the end of every month all monies held are paid to you by way EFT to your nominated bank account. A statement is issued at the same time outlining the debits and credits for that month. We can also offer an additional EFT payment at mid month (on request).