Rental Provider Tips
Frequently Asked Questions by Rental Providers
How quickly can you find a renter for my property?
Once an authority is signed with our company, 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 renters 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. Simply, it is our aim to lease your property at the highest possible rent to the most suitable renter 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 rental providers and renter are available for your perusal.
How do you check a prospective renter?
Our Inspections Consultant conducts personal inspections of properties with prospective renters. To apply for a property, a prospective renter 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 rental provider is then advised of the outcome so they can make an informed decision on the application(s). The rental provider makes the final decision on applicants presented to them.
How do you collect the rent?
Renters 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 renter is two days in arrears, they are contacted by all available means. If payment is still not received after 3-4 days, the renter 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 renters and following these procedures as a rule, we do not experience many problems with 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 renter or rental provider 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 renter agrees. If there is a dispute between a rental provider and renter, an appropriate application needs to be made to VCAT within 14 days of the renter vacating the premises. A member of VCAT will hear the case and make a binding decision based on the evidence presented. We encourage a rental provider and renter 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 rental providers and renters are available to demonstrate this upon request. We think it is wise for a rental provider 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.