- How long is a typical lease period?
The most common lease terms are six or 12 months. However, there is no restriction on how long the lease term can last.
- How much rent can I expect for my property per week?
To deliver a weekly amount rent, the @ Real Estate team will provide an appraisal on your property. Some factors could affect your property’s rental value, including;
Condition of your property
- Is it possible to increase the rent price during a lease agreement?
The rental rate is set in the contract and will hold throughout the lease term (unless there a special singed agreement allowing a rent increase in your tenancy agreement). At the end of the lease, you must provide tenants a written notice of an intention to increase the rent price and the increase price.
Please note, the notice period changes in different states.
- What is the definition of a ‘good tenant’?
A good tenant is someone who pays rent on time and maintains your property responsibly. You can expect a smooth and positive experience with most tenants. As many renters go on to own homes, they understand the importance of upholding the terms and conditions of their contract.
- Can I expect tenants to default on their rent?
At @ Real Estate, we conduct a background check to qualify only trustworthy prospective tenants. Still, there is a small window of possibility that one or two tenants may pose problems. The issue of bad tenants is often seen in poorly managed and maintained properties. Our property manager goes the extra mile to ensure that you don’t face this problem.
- What if my tenant does not pay on time?
It is inevitable that some tenants may find it challenging to pay rent at some point during their tenancy. @ Real Estate have strategies and systems in place to effectively manage this risk.
- What happens at the end of the lease?
At the end of the lease, you have the option to renew the lease or you can request the tenant to vacate. Landlords typically tend to extend the lease when their experience with tenants has been successful.
- What is my major responsibility as a landlord?
Your major responsibility as a landlord is to offer and maintain a dwelling that meets basic habitability requirements, such as structural safety; heat, water and electricity; sufficient water-proofing and a sanitary indoor environment. You are responsible for ensuring the safety requirements set out in the Building Code of Australia.
Have some more questions for us?
Call @ Real Estate to discuss how we can help you maximise your returns from your property.