Information for property Owners
Presenting your property for rental
Under the Residential Tenancies Act, the property must be presented in a “reasonably clean condition”. At Haughton Stotts Real Estate, over the years, we have managed to identify some of the factors that help in property presentation. We also know that tenants are more likely to care for a property if the Landlord has gone to the trouble of presenting it to them in a clean and tidy manner.
Why choose Haughton Stotts Real Estate?
We have hundreds of landlords, some of which have been with us for more than ten years. We have one of the largest property portfolios and our vacancy rate is lower than the Melbourne rental vacancy average. We understand that your property is an income producing asset and know how important it is to manage it in a professional manner.
- Dedicated Leasing Consultant – prompt appointment only inspections
- Tenant database and extensive client database and links with professional companies
- Documented Quality System and Procedures
- Commitment to our clients
- Professional, experienced & highly skilled personnel
- Creative and extensive marketing strategies
- Network coverage
- KEYS ARE NOT GIVEN OUT to prospective tenants
- Deal with the same staff member regarding your property
- Customer Service focus
- Company commitment to property management
How long will it take to let my property?
This often depends on the time of year that the property is available and whether the rent is at the correct market value. Once the property is placed with Haughton Real Estate, marketing will commence immediately to reduce the time period. The average time period varies as some properties are let straight away and others take between 4-5 weeks. We would be happy to demonstrate in further detail.
How are the tenants qualified & selected?
Haughton Stotts adopt a very strict screening process in compliance with the Privacy Act. Thorough checks are carried out to ensure the integrity of each applicant. Knowledge of anti-discrimination laws, together with asking the right questions minimises potential risks to our clients’ property. Prospective tenants are required to complete a detailed application form including rental and employment history. Details are verified, and then credit and rental history is checked through the appropriate channels that have access to various information including CRAA. Access to this information is only available to Real Estate Agents. It is advisable for these checks to be carried out to reveal any defects in previous tenancy and outstanding debts.
What happens if the tenant pays late?
Arrears are monitored and followed up daily. These options reduce the possibility of rent being in arrears. However if rent is late, we have a strict follow up procedure:
5 days late – letter sent to tenant and phone call or SMS placed
10 days late – letter sent to tenant notifying of impending termination notice and phone call placed
15 days late – after seeking instruction by you, termination notice is served
When do I receive the rent money?
Rent is collected calendar monthly, hence landlords are paid monthly. Landlord statement runs are done twice a week for your convenience. We offer prompt payment of rental income via electronic banking where funds are transferred from our Rental Trust Account to your nominated bank account and can be drawn against immediately.
How often are Routine Inspections done?
To ensure your property is being maintained in the manner expected, we carry out general inspections every 6-12 months. Information is provided to you in a written report that supplies you with information about the current state of the property and the manner in which the tenants are maintaining it. It also provides advice on repairs and maintenance required now or in the future and any recommendations. Any problems arising from these inspections are solved mid-tenancy rather that facing them at the tenancies end.
When is the rent reviewed?
Rents are regularly reviewed and adjusted in accordance to market conditions. Formal 60 days notice is required to be given to the tenant of a rent increase. Rental levels are constantly reviewed in consultation with the property owner.
Am I contacted about repairs?
Yes. Unless you have given pre-authorization up to a particular amount, you will always be contacted about maintenance repairs for your instruction. Should the problem be an after hour Urgent Repair then Haughton Stotts will follow legislative requirements.
Will the tenants do the right thing and not cause damage?
There are no guarantees when you become a landlord as unforeseen circumstances can arise, however the risk involved can be minimised due to the strict systems and procedures in place at Haughton Stotts. The key areas are careful tenant selection, strict arrears control, regular routine inspections.
There is insurance available to Landlords for extra protection. Please ask us for a brochure.
What are Haughton Stotts fees?
We have different fee packages available dependent upon the level of service you require. Every property is different as well as the Landlord needs. We would recommend that you discuss which package would best suit your needs with your Property Manager.