Frequently Asked Questions
Q) How do you determine the best rent for my property?
A) We always strive to get you the maximum rent possible; however we must also ensure the rental amount is in line with current market conditions. Both factors are important to present your property on the market for rent successfully. We consider factors such as demand, what rentals are available now, what we have rented right now and the condition of your property.
Q) What if I want a rental amount that is higher?
A) You may place your property on the market at the rental amount you wish. However keep in mind that it is the market demand that set the rent, and if the market (prospective tenants looking for a rental property) deem the amount of rent too high; your property may stay vacant for longer than necessary.
Q) How is the rent reviewed during the time that you manage it?
A) At We Love Rentals we conduct six monthly rent reviews to ensure that the rent of your property is continually up to date. When we need to secure you a new tenant or renew an existing lease, we will always review the rent against market conditions to achieve maximum value. We will always contact you for permission before the rent is increased.
Q) How does someone apply for my property?
A) We ask that all prospective tenants over the age of 16 complete an application form and provide 100 points of identification. By signing the form the prospective tenant is giving us permission to check the information provided. We will never discuss an applicant with you until this application form is completed.
Q) How do you check an applicant?
A) With the information provided we confirm their payment and tenancy history by calling their current and/or previous landlord/agent as well as confirming their employment and income, and checking them against three National Tenancy Internet Databases to see if they have been lodged as a bad tenant by a previous agent. The main tenancy databases that we check are TICA, National Tenancy Database, VEDA and Barclays.
Q) What if an applicant doesn’t have a tenancy history?
A) In some cases the applicant may not have a prior tenancy history as they are first time renters. We try and confirm other information that may give us insight into their ability to maintain a tenancy in your rental property. For example this would be a stable employment history or evidence that they have been a home owner.
Q) What if an applicant contacts me?
A) If in the unlikely event a prospective tenant contacts you to discuss their application, or in fact asks questions regarding their rejected application, we insist that you ask them to contact us. If they persist, we insist that you do not discuss anything further to avoid unnecessary problems and complications. At no stage will we give an applicant your contact number.
Q) Do you have to give the applicant a reason for their declined application?
A) Legally we do not have to give the applicant a reason and by industry practice we never give a reason to why the application was declined.
Q) Who select the applicant for my property?
A) You do! We will simply give you the information we have collected and by using our experience give you a possible guide as to the tenancy outcome. At the end of the day it is always your choice.
Q) Do you guarantee the tenant?
A) We can never guarantee any approved tenant for your property. We can only attempt to collect information on their past history and confirm their income arrangements. As their paying of rent and maintaining the property is purely voluntary we cannot guarantee any tenancy outcome. This is a landlord risk that comes will allowing someone else to rent your property.
Q) How should the property be presented?
A) We asked that the property be presented in the best manner possible to attract the right tenant for your property. A bad first impression can detract the right tenants from renting your property.
Q) How clean should the property be when a new tenant moves in?
A) The property should be presented ‘reasonably clean’ in accordance with legislative requirements. As a very general rule, we ask the tenant to leave the property in the same standard as they found it.
Q) How much bond do you take from the tenant?
A) In general, you cannot ask for more than the equivalent of four week’s rent however the following exceptions apply: if you have been living in the property for the previous 3 months, then the bond is negotiable; if the rent is more than $1200 per week then the bond is negotiable.
Q) When do you pay back the bond monies?
A) We only refund the bond after the following has occurred; the tenant has fully vacated the property and all keys have been returned, the property has been inspected and is satisfactory when compared with the initial incoming report, all monies are paid which includes any outstanding rent, water or anything owed by the tenant and if the tenant is breaking their lease, any re-letting fees and advertising costs are paid.
Q) How often are the rental payments made to me?
A) We can arrange rental payments on a weekly, fortnightly or monthly basis, whatever suits you best.
Q) What happens if my tenant doesn’t pay the rent?
A) Paying the rent is always a voluntary action on behalf of the tenant. We can never force a tenant to pay their rent. Even a tribunal can only order a tenant to pay the rent but can never physically force them to pay. We Love Rentals has a zero tolerance policy on rental arrears. If the tenant does not pay rent we send and SMS on the first day then send a 7 Day Termination Notice on the third day. This notice seeks to terminate the tenancy and require the tenant to vacate the premises within 7 days or pay the outstanding amount in full. If the outstanding amount isn't paid in full, we then apply to court to attempt to recover the damages.
Q) Is it worth getting landlord insurance?
A) Absolutely. Even a good tenancy can turn bad. If the tenant’s circumstances changes sometimes the tenancy can become unstable. Landlord insurance will cover rent lost due to tenant defaults and malicious damage to the property cause by the tenant. It is very important to know what your landlord insurance policy will and won’t cover. Please consult with your insurer to ensure you are fully aware of the extent of your cover.
Further questions? Why not call one of our property managers on 6254 6300 .