The effective management of your investment encompasses a wide range of issues. At Hamton Real Estate Services it is our aim to handle these on your behalf with minimum of fuss. With this in mind, we have prepared answers to the questions that are most frequently asked by landlords. However please do not hesitate to contact one of our highly qualified professionals to discuss any other questions that you may have.
How do I know my investment will be managed properly?
All communication with both landlords and tenants is handled by a Senior Property Manager who has over 10 years experience in the Property Management Industry. This ensures that you will receive exceptional standards of communication that is both knowledgeable and consistent. Unlike some agencies where landlords feel like they deal with a different person each time they call, at Hamton you deal with the same highly qualified person every time. All staff undertake regular professional training to ensure that the advice and service we provide is always up to date and accurate.
Can you guarantee nothing will go wrong?
Unfortunately, the very nature of a business like property leasing means that sometimes issues can arise between a landlord and a tenant. However you can be assured that with over 10 years experience in the industry your Property Manager has the skill to effectively manage these situations in a manner that both complies with legislation and minimises any loss to you.
How quickly can you lease my property?
The current rental market is one that is marked by strong demand and low vacancy rates. However to take full advantage of this market your Property Manager needs to be vigilant in correctly placing your property in the market by providing an accurate appraisal and by using effective marketing techniques. Experience has shown us that properties that are correctly priced can normally be leased to quality tenants relatively quickly. We can commence marketing your property as soon as the Managing Authority has been signed and returned to our office.
How will you market my property?
All marketing is individually tailored to your investment property in consultation with you. At Hamton we are highly experienced in the effective use of multiple websites, as well as tools such as site signage and selected print media where appropriate. When any new property becomes available for lease we will also utilise our extensive database of prospective tenants who are currently seeking rental properties and match them to your property.
How do you select a tenant?
Due diligence is ALWAYS carried out when selecting an appropriate tenant for your investment. This involves meeting and interviewing the tenant on a face to face basis whenever possible, comprehensive assessments on their rental and employment histories, and National Tenancy Database checks that will alert us to any problems the tenants may have experienced in the past. Careful and methodical tenant selection minimises any risk to you of rental arrears or property damage, so we take this process very seriously. Once the due diligence has been completed, you will be presented with the results of our research along with our recommendations. However, you will always have the final say on who leases your property, so you will always have control of your investment!
How often do you carry out Routine Inspections?
Legislation specifies that routine inspections may only be carried out once every six months. You are welcome to attend the routine inspection, or you may elect to receive a comprehensive written report that details the condition of the property and any issues that may have arisen during the inspection.
How do you handle maintenance?
All maintenance requests we receive from our tenants must be addressed in accordance with the Residential Tenancies Act (RTA). Some clients prefer us to deal with minor maintenance repairs up to a predetermined amount without the need to refer to them. Other clients wish to be contacted at all times. It is entirely up to you! We also have a carefully vetted list of qualified and insured tradespeople to carry out any works to your property. However should you wish we can also deal with any of your preferred tradespeople.
How often can I increase my rent?
At Hamton we are constantly assessing the market to ensure that your investment is well placed and achieving the maximum possible return. Legislation requires that where a fixed term lease is in place we can only undertake a rental increase at the end of each agreement. On periodic tenancies, increases may only be served once every six months. Tenants must also receive no less than 60 days notice (in writing) of a rental increase. There are numerous factors that are taken into consideration when assessing a potential increase. All of these will be discussed in detail with you as part of our regular communication on the performance of your investment.
What happens if my tenant doesn’t pay their rent?
If your tenant is more than two days late with any rental payment we will contact them using all available means (phone calls, SMS, email and post) reminding them their rental payment is outstanding. This process is monitored and repeated where required. Should payment not be received by the 14th day then we may commence VCAT proceedings. We find that our careful tenant selection means that it is rare for one of our tenants to reach 14 days in arrears, however should this situation occur, your Property Manager will contact you to discuss the various options available to you.
Do you hold a bond for my property?
Generally the equivalent to one month’s rental is held as a bond with the Residential Tenancies Bond Authority. There are some circumstances in which more than one month’s rent can be retained, please speak to your Property Manager for more information.
Am I able to deduct monies from the bond if there is any damage to my property?
Money can only be deducted from the bond when there is either agreement from the tenant or by order of VCAT. If necessary, the appropriate application needs to be made to VCAT within 10 business days of the tenant vacating the property. At Hamton, we utilise a system of detailed condition reports with photographs which are prepared at the commencement of the tenancy. This minimises the possibility of disputes arising during the final inspection.
How quickly do I receive payment of my rent after it has been paid?
At Hamton all initial rental payments are due prior to the commencement of the lease. All rental payments into our system have a standard clearance time of 4 days to allow for cheque payments or reversals of any payments. Once funds your are cleared, they are transferred to your account in accordance with your instructions within one business day.
How much do you charge?
A review of the current market shows our fees and charges to be more than competitive with those of our competitors. Importantly, when combined with a commitment to service standards and advice that leads the market, we believe our clients enjoy unrivalled value in the service we provide, with a guarantee of effective, reliable and responsive communication delivered by expert management professionals. Whilst we are happy to compare our fee structure with any other agent, we believe that the value we provide and the long term savings you will enjoy through sound advice and expert management practices will ensure you gain maximum returns from your investment.
We invite you to contact our office to discuss your investment specifically and we can tailor a management package that best suits your requirements.
