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PROPERTY MANAGEMENT FAQS


What is the typical lease period?

The most common lease terms are six or 12 months. However, there is no restriction on the lease term you can offer. A 12-month lease allows you to build a more stable relationship with your tenants, which may encourage them extend the lease. Many may shy away from longer leases that lock them into a contract.

What weekly rental income can I expect from my property?

It is not possible to estimate the rent you can charge without appraising your property. The factors that affect a property’s rental value include location, space, amenities, the condition of your property, landscaping, washing and drying facilities, provision for allowing pets, etc.

Can I increase the rent in the middle of a lease period?

The rental rate set in the contract will hold throughout the lease term unless there a special provision allowing a rent increase in your tenancy agreement. If not, at the end of the term, you must provide tenants a written notice of the intended increase. 

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?

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 experienced property managers go 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. We 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 smooth and fruitful.

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.


SELLING FAQS


Henry tells me it’s currently a seller’s market so I should put up my home for sale now. What does that mean?

When the demand for homes is greater than the supply, i.e.: when there are few homes for sale and a great many buyers clamouring for them, the market is in the seller’s favour, a seller’s market. Putting up your home for sale at this time is a great idea because you are likely to get the best possible price for your property right now and the deal will close quickly because there are so many buyers ready to close the deal.

Why can’t I sell my home on my own instead of hiring an agent?

You can certainly sell your home on your own but hiring an agent makes the process a lot easier and faster. More importantly, since Henry as an experienced agent knows the prevailing pricing trend in market he can give you accurate advice about pricing your property correctly. An experienced agent is also a great help in telling you how to prepare your home for sale and during negotiations

What is a home appraisal and should I get one done?

A home appraisal is the inspection and assessment of your home by Henry as a real estate agent, done with the objective of determining its right sale price. Unless you are very familiar with the market conditions and the pricing for similar properties in the marketplace, getting your home appraisal done is a good idea. Henry typically bases his pricing assessment on the most recent sales that have taken place in the neighbourhood which gives you a clear picture of what buyers may be willing to pay.

Henry asking me to invest in painting the home and getting the frontage cleaned up? Is this expense worth taking up when I am going to sell my property?

Definitely! Making your home look appealing to prospective buyers is a critical first step in the selling process. Repainting the outer walls, ensuring that the frontage and overall appearance of the home give a positive first impression ensures that the maximum number of potential buyers are attracted. Also, a home that looks cared for and well maintained does garner a better price than one that is in a state of disrepair.

My buyer wants to carry out a pre-settlement inspection although he already visited the property before? Should I agree?

A pre- settlement inspection is quite a normal practise in home sale deals. Right before he signs the sale deed, the buyer simply wants to make sure that the home is in the same condition as it was during his initial visit(s). Allowing the buyer to do so builds his confidence in you and in having made the right choice of property to buy.