Information For Owners

How long will it take to find a tenant?

We have been using realestate.com.au for many years with great success. If the property is well photographed, properly priced and listed as ‘open for inspection’, it will usually rent within seven days. Our aim is to advertise to tenants who want to live the suburb your property is situated in at the rent you want to charge.

Most important is that we process applications as quickly as possible. Good tenants have their choice of properties so it’s critical to assess their applications as quickly as possible. We always do this the same day.

We advertise our properties well before they are vacant to ensure we have time to find the best tenant and to minimise vacancy.

How much will my property rent for?

“Market Rent” is the term used for discovering how much similar properties are renting for in your area. Having the up-to-date, comparative information we can provide will assist you in your decision-making. While our aim is to achieve the best figure for you, we also won’t let your property linger on the market resulting in lost income.

Neil Fraser-Smith Real Estate implements comprehensive marketing campaigns for every property we manage. Stunning professional photography, detailed scripts, proven online marketing all combine to achieve the best result for your property.

How do we select tenants for your property?

There are a number of factors we use to assess a tenant’s suitability. After they have filled out the application form and we have confirmed their identification the next and most important item is to contact their current agent and get a copy of their tenant ledge. This is a record from the agents trust account of every rent payment the tenant has made since they moved in. From this we can easily see if their rent was paid on time for the whole period they were at that property.

The next thing we do is send the agent a questionnaire that askes a number of questions related to the agents experience with the tenant. Questions such as whether the tenant made excessive maintenance requests, what were they like to deal with and if they expected to have to deduct any funds from the bond. We also ask them to rate the tenant on a scale of 1 to 10. Once we get that back we contact the tenant’s agent that was previous to that and ask them the same questions. This will quickly give us a detailed overview of the tenant’s behaviour.

In addition to the above we check their details with the TICA database. This is a database used by almost all agents in Australia and New Zealand and it lists tenants who have vacated a property and still owe money in excess of the bond held.

Selecting the right tenant is the most important aspect of ensuring a smooth and trouble-free management of your property and to date, has worked well for us and our owners.

How and when am I paid the rent from my tenants?

All rent money received on your behalf is held in our audited Trust Account. From these funds we pay all authorised payments relating to your property such as water rates, municipal council rates, insurance, repairs and maintenance. Invoices from the suppliers are sent to you the day they arrive. We electronically transfer your funds into your nominated financial account on the 1st day of the month and the 15th of the month (or the next business day).

How do we keep track of rental payments?

Each business day rent payments are recorded and any arrears are monitored. If the tenant is more than three days in arrears a reminder is sent via text, email or a phone call. If the rent is still in arrears on the 8th day, we issue a Form 11, Notice to Remedy Breach. If the rent continues to be unpaid, we issue a Form 12, Notice to Leave.

We will communicate with you throughout this process and a Notice to Leave will never be issued without discussing the situation with you first. It is always our intention to minimise any loss to the landlord.

Can I say I don't want pets at my property?

You may choose to specify if pets are, or, are not allowed in property. If you elect to allow pets, the Residential Tenancies and Rooming Accommodation Act 2008 (RTRA Act) outlines the tenant’s responsibility with keeping them at a rental property. We can provide practical suggestions for your consideration before deciding if you will allow a pet or not. Something to consider is that if your property is a house it will probably be rented by a family. Traditionally, 80% of Australian families have either a cat or a dog.

How do I change to Neil Fraser-Smith Real Estate?

It’s simple, just give us a call or fill out our enquiry form and we’ll take care of the rest. From contacting your tenants to collecting keys from your previous managers, we ensure a smooth transition. There is no need for you to talk to your current agent, we will do it all for you. Changing to Neil Fraser-Smith Real Estate couldn’t be easier.

How important is an agent's location in the management of my property?

We have properties all over the Gold Coast from Currumbin to Hope Island. With today’s technology most tenants find rental properties online. In fact, almost 99% of our enquiries are from online advertisements and all of our tenants pay rent electronically. More and more, an agent’s location is becoming a thing of the past, allowing us to efficiently service a larger geographic area. Combine this with our constant investment in leading technology and ability to quickly assess rents in any given area we can easily manage your property, regardless of where on the coast it is situated.

What happens if my tenant wants to vacate?

All tenants are required to give specific notice when they wish to vacate the property. Neil Fraser-Smith Real Estate ensures that all notice periods given by tenants is in full compliance with the 18a Residential Tenancy Agreement signed by the tenant.

To minimise potential vacancy, we implement the following procedure. 3 months before the lease is due to end, we will contact you to discuss the tenancy and discuss with you our recommendations of a rent review.

We then contact the tenant to either offer the new lease and seek their intentions or issue a notice to vacate. At least 2 months before your lease expires your tenant has either signed a new lease or given written notice that they will vacate at the end of the lease.

This allows us ample time find the best tenant possible and minimise downtime. Sometimes, tenants have to break lease due to job transfers, etc. In this situation, your property will be advertised, and a new tenant found for your approval, while the current tenant continues to pay their rent and any associated costs.

What Insurance is needed for an investment Property?

Before renting a Property, it is highly recommended you have appropriate insurance cover such as ‘Landlord Protection Insurance’. We recommend Terri Scheer as they specialise in this type of policy. In addition, building and contents insurance and public liability cover are vital. Packages are typically available from Terri Scheer or your preferred Insurer for cost effective and comprehensive protection.

Who holds the bond money?

A maximum amount equal to four weeks rent is to be paid by the tenant as Bond prior to the Tenant moving into the Property unless the rent is greater than $700 per week. In this case, an agreed amount can be requested to be paid over and above the four weeks rent as Bond. The Bond is lodged with the Residential Tenancies Authority (RTA) and held there until the tenant vacates the premises and a thorough Agent Exit Property Inspection and report is completed and we are satisfied the tenant has returned the property as required, and all rent has been paid.

What about repairs?

Work arranged by Neil Fraser-Smith Real Estate for your property is carried out by a suitably qualified and licensed tradesperson. Before any work is done, we discuss the problem with you, and decide upon a course of action. If the work required is covered by a warranty, our Agency contacts the supplier, or if the work is claimable under your Landlord or any other insurance policy, we can contact the insurer to claim on your behalf. We have access to a wide range of trades people who have met our agency’s stringent criteria and that we have been using for many years. Having said that, if you would prefer, we use your tradesmen that is no problem.

What repairs can I expect?

All properties have similar items that wear out eventually. The most common repair is a dripping tap in the shower followed by replacement of the kitchen tap mixer of flick mixer. These items involve daily physical use, so they are the most used item in the house.

The next is the Flush Valve in the toilet cistern. This is the mechanical part that activates the release of water when the toilet is flushed. Once again, it’s a moving part that is in constant use (hopefully).

Water heaters will usually last 15 years but some rust through after only 10 depending upon the location. They will give plenty of warning in most cases as the water will not heat properly a long time before there is any leaking. If your water heater is over 10 years old expect to have to replace it within a few years.