OWNER TIPS

We specialise in letting all types of property, from commercial premises to city centre apartments and suburban houses. Our success is achieved by putting the needs and requirements of our landlords and tenants before anything else. We are not a real estate agency with a letting business 'on the side', so we remain totally focused on offering the best service at the most competitive price.

To provide the optimum benefits and services, management is split between our dedicated departments: residential property management and commercial property management.

• Free advice on property management issues and leasing activities.
• Free rental market appraisals.
• Multi-lingual skills to cater clients from non-English backgrounds.
• Advice to clients on recent law amendments affecting their properties.

We will always discuss the best way of meeting your requirements, so our management fees vary according to each individual's requirements and are based on the level of property management service you wish us to provide.

(Information for commercial properties can be found later on this page)

• Your property should be clean, tidy and have a reasonable standard of decoration, to be attractive to good quality tenants and achieve a good level of rent.
• Most property is let unfurnished. As a minimum you will need to provide decent quality carpets and light fittings.
• As a landlord you have a legal obligation to provide a safe property for the tenants. This includes any electrical equipment provided, plugs, sockets etc.
• You should ensure that all equipment is serviced regularly and provide instructions or user manuals so tenants know how to safely operate appliances and equipment.
• You will generally be responsible for maintaining and repairing the fabric or structure of the property. It is also normal to pay the strata charges or any maintenance charges.
• If you have a mortgage or loan on the property you must inform your lender for consent in advance of any letting. If the property is an apartment or portion of a building, then you may also need the consent of the Owner's Corporation.
• You must inform your insurance company of any proposed letting to maintain your cover on the building, contents and public liability. If the property is a Strata unit, the Owner's Corporation insures the building. The tenant is responsible for their own personal items.
• In addition, we highly recommend you to take out Landlords Protection Insurance. This insures against damage to your carpets, curtains, blinds, light fittings and any other furniture left for the tenant's use. It covers theft and malicious damage by your tenant or their guests, as well as damage to the building. More importantly, it covers you for loss of income should your tenant abscond or default on their lease agreement. The insurance also includes legal liability cover to protect your personal legal responsibilities as a property owner.

• We employ a number of tactics to get you the most suitable tenant, in the shortest time possible for the highest possible rent.
• Your property will be advertised on our website, as well as several large affiliated websites.
• Adverts will be placed in appropriate newspapers
• We will contact all prospective tenants on our database.
• The property will be advertised in our office display window.

• Prospective tenants are thoroughly checked by collecting references. This includes financial and employer checks and a search of the National Tenancy Database (NTD) and Tenant Reference Australia (TRA).
• Despite this thorough referencing procedure, unforeseen events can occur for the tenant, such as a relationship breakdown or a change in employment circumstances. If these incidences occur our strict arrears control procedures come into affect.

Before a lease is signed, we will assist you with the following necessary requirements for a residential tenancy (for commercial tenancies please contact our office for information):

• Residential Tenancy Agreement.
• A condition report that sets out the general condition and cleanliness of the premises.
• A list of all up-front costs.
• A copy of The Renting Guide.

• A rental bond paid by a tenant must be sent to the NSW Office of Fair Trading within seven days.
• At least 60 days notice must be given of a rent increase. Tenants may challenge an increase before the Consumer, Trader and Tenancy Tribunal.
• A landlord or agent is entitled to inspect the property up to four times a year but must give seven days notice of each inspection. Two days notice must be given to carry out repairs. No notice is required for urgent repairs. 'Reasonable' notice must be given to show the premises to prospective tenants or buyers.
• The landlord is obliged to carry out all repairs but may be able to charge the tenant if an occupant was responsible for the damage. Urgent repairs must be carried out as soon as reasonably possible or the tenant is entitled to spend up to $500 and be reimbursed within 14 days.
• To end a tenancy a landlord must give 14 days written notice in a prescribed form, or 60 days if the fixed term of the lease has expired (30 days if the premises have been sold).
• If the tenant is more than 14 days behind in the rent, you may give 14 days notice of termination.
• Further information is contained in The Renting Guide published by the NSW Office of Fair Trading, which can advise or mediate on problems with tenants. If this fails you can apply to the Consumer, Trader and Tenancy Tribunal.

• We have a series of procedures in place for tenant who do not pay their rent on time. Please contact us for further information.

• Under the Retail Tenancy Act 1994, a draft retail lease must be on hand before a retail premises can be promoted for lease in the market. Both lessor and lessee of a retail lease shall pay for their own legal cost.
• The draft lease should cover proposed rental, term of lease, any options, whether tenant shall bear any portion of outgoings, the frequency and the method of the rent review and any other special terms and conditions that apply to your premises.
• Be aware of the zoning of your premises. This would dictate what type of business may be operated.
• Apart from zoning, also be aware of facilities available in the premises, eg air conditioning, loading dock, grease trap, exhaust etc. For example, if you believe the premise would be ideal for a restaurant and if there is not a grease trap and exhaust, it would hold up your lease.
• If the tenant is required to pay a portion of outgoings on top of statutory ones such as Council rates, water rates and land tax, the law requires all related outgoing figures be on hand at time of lease.
• Renovations should not commence until approval has been obtained from the Council. The prospective tenant should provide details of the renovation, including a copy of the plan.
• The lease should specify that the tenant would return the premises to a satisfactory condition on termination of the lease, excluding normal fair wear and tear.
• A lease is as good as the tenant behind it. There is an inherent risk in every business and this could be minimised with a security deposit or a bank guarantee. A security deposit is not standardised like a residential lease and the amount could vary with each different type of business and the track record behind the prospective tenant. It is therefore important that your agent carry out the reference check with due care.
• Our management is carried out actively on a continuous basis, including monitoring the tenant's business and its economics.
• As every business has its ups and downs and is different, it is important to identify problems before it is too late. Once there is an indication of the problem, we will meet up with the tenant and offer our assistance. However, if there is a real risk of worsening performance, we will start to look for another tenant before it is too late. Our system and procedure will recoup for you their share of outgoings and invoice new rental annually.
• Our size of management supports a comprehensive database for a current market rental review. This is important and helps to successfully support and negotiate an increase.