FREQUENTLY ASKED QUESTIONS
Our team of property investment specialists have compiled a list of the most frequently asked leasing, financial and property questions.
The holding deposit secures the property whilst documentation is prepared and signed. Once lease documents are signed the deposit forms part of the rent, however the deposit is not refundable if lease documents are not signed if it’s through no fault of the owner.
The rental bond is a security deposit lodged directly to Rental Bonds Online who then hold the monies until the property is vacated. It is intended as cover for any damage that may occur during the tenancy that the tenant is responsible for. The amount of bond is the equivalent of 4 weeks rent.
If your property is part of a Strata Title the tenant will need to receive a copy of the rules or by-laws pertaining to the strata scheme.
The by-laws set out the rules that owners and tenants need to follow when living in a Strata Title building. These rules cover use of common property, garbage disposal, pool use and parking, among other things.
The landlord’s insurance does not cover the tenant’s possessions and it is recommended that the tenant take out a policy for their personal contents.
The condition report records the condition of the property at the commencement of the tenancy and is mandatory. When the tenant vacates, the owner will be relying on the condition report to identify any damage that may have been caused.
The tenant has 7 days to verify, sign the report and return to the agency. The tenant can add any items that they feel were missed and include photos if applicable. It is understood that the items mentioned will not necessarily be repaired by the owner unless specifically agreed to.
KEYS & LOCKS
Keys and locks cannot be changed without the consent of the landlord or agent. A copy of the keys needs to be available at the agency at all times in the event of an emergency.
If the tenant loses or misplaces keys, the tenant shall replace them at his own cost.
And if the tenant needs to borrow the duplicate keys from the agency, a deposit of $100 is required which will be reimbursed on their return.
In the case of an urgent repair,
1. Contact your property manager. If unavailable,
2. Contact the tradesperson listed on your Tenancy Agreement. If unavailable,
3.You can arrange to have urgent repairs attended to.
An urgent repair is any work needed to repair any one or more of the following:
* A burst water service;
* An appliance, fitting or fixture that uses water or is used to supply water that is broken or not functioning properly, so that a substantial amount of water is being wasted;
* A blocked or broken lavatory system;
* A serious roof leak;
* A gas leak;
* A dangerous electrical fault;
* Flooding or serious flood damage;
* Serious storm or fire damage;
* A failure or breakdown of the gas, electricity or water supply to the premises;
* A failure or breakdown of any essential service on the premises for hot water, cooking, heating, cooling or laundering;
* Any fault or damage that causes the residential premises to be unsafe or insecure; or
* Any other damage prescribed by the regulations that does not include work needed to repair premises that are owned by a person other than the landlord or a person having superior title (such as a head landlord) to the landlord.
These emergency repairs can be costly, as they often occur after hours, so you must ensure that it fits within the above guidelines. If the event is later deemed as not urgent, you may be responsible for some or all of the costs.
You are required to have the landlord’s written consent to make any alterations If the alterations are considered “minor nature” then the landlord must not unreasonably withhold consent. The tenant must pay for the fixture they install or for any alteration, renovation or addition to the property that they make, unless the landlord agrees otherwise.
You must never tamper with the smoke alarm, and you need to notify your property manager if you discover that the smoke alarm is not working, including when the battery needs to be replaced. Smoke alarms are tested annually.
The tenant is responsible of electricity, gas, internet and phone bills. The owner is responsible for the connection to water but the tenant may be responsible for water usage, if the property is separately metered.
Routine inspections are conducted twice a year. They are for the benefit of both the landlord and the tenant. During these inspections, we are looking for repair and maintenance issues and ensuring the tenant is looking after the property. With a new tenant, we schedule the first inspection after the end of the third month, then every six months.
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Want to know what your property could rent for in today’s current market?
Sure we can do that, we can also advise you on how to tweak the overall presentation of your property to give you an even better chance at a great tenant and rental.
Obligation and cost free, we can set up a time to visit the property and within 48 hours send you a detailed report on the rental market in your area and where your property fits in.
At Property Quarters we know how to manage your property so you can rest easy and relax.
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LocationPO Box 340, Double Bay NSW 1360
Phone(02) 8866 5000