Whether you're a seasoned investor, or you have just purchased your first property, you will always have lots of questions to ask when choosing a property manager.
Typical questions and things you should think about include:
How much rent can I receive for my property?
How do I protect myself against tenant damage?
How much is the bond and what does the bond cover?
Can I commission my own maintenance people or undertake property maintenance myself?
Can water charges be passed on to my tenant?
How often will you inspect my property and who conducts these checks?
How long is a standard lease?
Can I increase the rent during the lease period?
How long will it take to rent out my property?
I have purchased an investment property that is a part of the National Rental Affordability Scheme (NRAS). Can you arrange for the initial rental valuations for my NRAS property to be done for me?
I’ve got a question that’s not covered on your website. Can you help?
This is a great question and often one of the first thoughts you have when getting started. There are many factors to consider when setting the rental value for your property, some of which depend on your personal circumstances and expections. Of course, you can do the research yourself – an excellent place to start is to carry out some research online. The Internet provides a wealth of easily accessible data which you can use to give yourself a guide and set rough expectations. It is important to pay attention to the requested prices, how your property compares, as well as how long those properties stay on the market at those rates.
An alternative solution is to just outsource all this hard work; you can request a free appraisal from our experts here. We are experts in this area and can appraise the rental value of your property using our experience as well as internal and external databases for which we have specific licences to use.
To protect yourself against excessive tenant damage, unpaid rent or other unexpected tenant related liabilities we encourage all our clients to take out landlord insurance. There are many reputable companies providing landlord insurance and most clients protect themselves by taking out a policy. When choosing insurance, please do take care to read through the relevant disclosure statements and see what is and what isn't covered.
What may seem like 'another expense' today, may save you in the long run.
See our Property Management Resources page for a list of companies we recommend for landlord insurance.
A bond is a little bit like insurance in that is gives you some security over tenant behaviour. It is paid by the tenant and held in Trust by the Consumer and Business Services (CBS) department. In the event that your tenant vacates the property, leaving behind damage or a mess, or creates a property maintenance cost for you beyond fair wear and tear, then you are able to lodge a request to withhold some of that bond to cover your repair expenses. This happens at the end of the tenant's stay in your property.
The size of the bond you hold depends on the rent you are charging. If your rent is above $250 per week then you are able to hold six weeks rent as a bond. If your rent is $250 per week or less, then you are able to hold four weeks rent as a bond.
It's best to rely on your landlord insurance for any rent arrears.
APM uses a number of qualified and fully licenced tradespersons to conduct repairs and maintenance required on our clients' properties. Using tried and trusted professionals to complete any maintenance ensures your property is looked after in both the short and long term.
Having said that, we have clients who are professionals in this area in their own right, or have a trusted network of maintenance experts that they prefer to use for their particular property, and this is absolutely fine. However, in order to facilitate a hassle-free, timely and cost-effective maintenance process, and to ensure the Residential Tenancies Act is adhered to, APM will still manage the entire process (no matter who has been engaged to carry out the work).
All water usage and water supply charges can be passed on to the tenant and this is included in our standard lease agreement. If you like, we can explain the process and timing for the payment of your water bills in our initial chats about your property.
Your dedicated property manager will inspect your property multiple times throughout the lease period. Even if you want to treat your asset as a 'set and forget' investment, we view inspections as an essential part of our service and will still conduct routine checks for you, always providing written reports on your property's condition afterwards.
Inspections are conducted during business hours and you’re more than welcome to join us at the inspection if the time suits you.
In Australia, standard lease periods are generally either six or 12 months. While longer lease terms are possible, you are likely to find a smaller number of tenants who are willing to commit to this time.
We can discuss the advantages of each lease length and help you determine how to maximise your return most effectively.
In South Australia rents can be increased every twelve months (regardless of the fixed nature of the lease). If you want the rent to increase mid tenancy that is fine as long as the details are included in the lease document and it has been more than twelve months since the last increase. We constantly review the price of your property and can advise you on the appropriate times to increase your rent.
This varies from property to property. Our expert team will commence marketing your property as soon as it is ready, or as soon as the current tenant gives 21 days notice of their intention to vacate. Once we can determine the rental price, how competitive the rental market in your area is, and other relevant factors, such as if it is the high or low season for renting, we will be able to give you some clarity on what to expect.
Absolutely! We have a number of contacts for licenced valuers who regularly carry out rental valuations for properties in the NRAS. Please contact one of our friendly staff for further information.
Of course! At APM we really enjoy helping property investors find solutions to a problem surrounding their rental property. No matter how 'boring', simple, complex or unusual your question is – we’d love to help. Getting help from an experienced and qualified professional is a great way to relieve unnecessary stress! Please feel free to contact one of our experts today.
There's a lot to talk about so please do give us a call and we can arrange a meeting at a time that suits you. It's always good to put a face to a name!
Contact us at the office on 8232 7623 or simply send us an email.