9th December 2019: Tips for Landlords

Fletchers make managing your investment property easy. To help you on your journey, we've put together a list of the most frequently asked questions by landlords.

How quickly can you find a tenant for my property?

Once an authority is signed with Fletchers, we commence marketing your property immediately by advertising your property on various websites, including our own award winning website. We advertise your property in our rental list, erect a For Lease board (if requested) and we also make contact with prospective tenants in our database to advise of your property and availability. It is important that your property is presented in the best possible condition and that the rent is set at market level, as this assists a property to lease within a shorter period of time.

Prevailing market conditions will also have an impact on the vacancy period. Put simply, it is our aim to lease your property at the highest possible rent to the most suitable tenant in the shortest time frame. A dedicated Property Manager and Inspections Consultant handles the leasing process of your investment property.

How do I know that my property will be managed properly?

Our clients are appointed a dedicated Property Manager to effectively manage their property. Our portfolios are kept to a manageable size so that each manager has the ability to invest time and care to their client base.

Our team works together closely to ensure positive outcomes and are overseen and supported by an experienced Department Head. We believe that our structure allows us to look after each client's needs. Testimonials received over a long period of time from both landlords and tenants are available for your perusal.

How do you check a prospective tenant?

Our Inspections Consultant conducts personal inspections of properties with prospective tenants. To apply for a property, a prospective tenant is required to complete a detailed application form and supply references where appropriate. This form is checked thoroughly including an optional (additional cost) National Tenancy Database and Public Records Search.

The landlord is then advised of the outcome so they can make an informed decision on the application(s). The landlord makes the final decision on applicants presented to them.

How do you collect the rent?

Tenants are signed up on a direct debit or direct credit facility before the commencement of their tenancy; this reduces the problem of arrears.

Once the rent has been paid, how quickly do I receive payment?

At Fletchers, we direct credit our clients regularly as per the arrangement that we made upon the listing of your property.

How do you handle non-payment of rent?

Our Property Managers check their arrears daily and once a tenant is two days in arrears, they are contacted by all available means. If payment is still not received after 3-4 days, the tenant is contacted again and advised that should they not meet their rental commitment, a final notice will be served followed by an application to VCAT (Tribunal). Due to selecting good tenants and following these procedures as a rule, we rarely experience non-payment of rent.

Do you hold the bond and do I receive the interest?

Estate agents are required to lodge all residential bonds received with The Residential Tenancies Bond Authority within five days of receipt. The interest generated is put back into the running of VCAT and other associated tenancy literature printed etc. The bond can only be released to the tenant or landlord by both parties signing a bond claim form. These signatures are matched up against those on the bond lodgement form at the commencement of the tenancy.

If there is any damage caused to my property, can we deduct money from the bond?

Monies can only be deducted from the bond if the tenant agrees. If there is a dispute between a landlord and tenant, an appropriate application needs to be made to VCAT within 14 days of the tenant vacating the premises. A member of VCAT will hear the case and make a binding decision based on the evidence presented. We encourage a landlord and tenant to resolve any disputes as applying to VCAT is a last resort.

How much do you charge?

Since deregulation was introduced to the industry, this means that all agencies will offer a different fee structure. Our fees may be higher than some other companies or even the same, however our fees are negotiable. We pride ourselves on the level of service given and an excellent track record established since our Property Management department began.

Testimonials from both landlords and tenants are available to demonstrate this upon request. We think it is wise for a landlord to consider all aspects of Property Management in coming to a decision to appoint an agent.

Fees are only one component and, although important, a decision should never be made based on this solely. An expert Property Management department may cost more initially but overall, will save you money through experience, management and sound advice. We invite you to contact our office to appraise your property and discuss a management package that suits your requirements.