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STATEMENTS
You have the option of choosing to receive statements at the end of the month or mid month and end of month.
These statements detail all rent collected and payments of any maintenance accounts.
You may have your money transferred by EFT directly into your nominated bank account. If you prefer a cheque will be forwarded to you.
At the end of the financial year we can provide you with a fully comprehensive statement that will assist you with lodging your tax return.
Trained Lease Negotiation Specialists
After consultation with you regarding the tenancy application, duration of lease and rental rate, we arrange signing of the Residential Tenancy Agreement. Once accepted, tenants enter into a fixed-term lease for the agreed period. On expiry of the initial term, you have the option to extend the lease for a further agreed fixed term, or adopt a periodic arrangement under the same terms and conditions.
Our Property/Leasing Manager is trained to understand market conditions affecting your lease term and achievable rental rate. This is paramount in securing the best possible outcome for both parties. Once an application has been processed and approved the Property/Leasing Manager negotiates and finalises all General Tenancy Agreements promptly on your behalf, handling all tenant liaison to ensure your best interests are represented.
Rental Payments and Bonds
Whilst it is not a requirement under the Residential Tenancies & Rooming Accommodation Act for tenants to pay a bond it is highly recommended and a policy of PRDnationwide Beenleigh for all tenants to pay the equivalent of four weeks rent as the bond. We ensure peace of mind for the property owner and backing our commitment to only approve tenants with the proven capability to fulfill the requirements of their General Tenancy Agreement.If a bond is charged to the tenant there are heavy penalties imposed by the Residential Tenancies Authority (RTA) for non-compliance through bond overcharging and non lodgement of the bond with the RTA. All new tenants are required to pay a bond equivalent of four weeks rent, for weekly rent up to $500 (five hundred dollars). Properties attracting higher weekly rents on some occasions attract a higher negotiated bond taking into consideration fixtures, fittings and features of the property. These bonds are lodged with the RTA within 10 (ten) days of receipt and held in trust by the RTA until both parties agree, usually at the end of the tenancy, to distribution and refund of the bond. Should a dispute arise regarding the distribution and refund of the bond, dispute resolution and possible Small Claims Hearings could result so that neither party can unfairly claim the bond.
We require all tenants to pay rent in advance usually fortnightly although in some instances tenants opt to pay calendar monthly. Under the Residential Tenancies & Rooming Accommodation Act we cannot request rent to be paid more frequently than fortnightly in advance.
Rental Arrears & Arrears Control
All tenants are informed at the commencement of their lease that rental arrears will not be tolerated or excuses for arrears accepted. Payments are strictly monitored and, should arrears occur at any time, we act quickly to ensure tenant obligations are met. Tenants are reminded by phone or email alert of their arrears. Should their rent still be in arrears on the eighth day a ‘Notice to Remedy Breach’ is issued. You will be advised at this point so you don’t have any unexpected and unwelcome surprises when your statement is issued. Should the tenants fail to remedy the breach by paying the rent a ‘Notice to Leave’ will be issued. It is vital that these notices are issued at the time in order to protect your interests and Landlord Insurance policy. Non issue of these breaches could result in your insurance being deemed null and void in the event of a claim being necessary.
By issuing the required breach notices we not only protect your interests but in most circumstances future rental payments are prompt and on time as tenants are made aware that regular arrears and breaches of their General Tenancy Agreement will affect future rental references and tenancy applications.
Be assured that property owners are kept informed of rental arrears and remedy of breach progress. Should the breach result in a ‘Notice to Leave’ being issued and possible application to the Small Claims Tribunal for a ‘Warrant of Possession’ the property owner will always be notified with a request for advice and instructions prior to proceeding.
Maximising Your Returns by Minimising Vacancy Periods
PRDnationwide Beenleigh recognizes that maximizing your returns through minimizing vacancy periods is quite possibly one of the principal reasons for employing the services of a professional Property Manager and this very factor is a major cause for concern for property owners. PRDnationwide has developed a comprehensive system to ensure leases are renewed as due and weekly rents are increased within the legislated time frame. By following our system, should the tenant not opt to accept notice of a rental increase and/or the offer to renew the lease we have maximum time in which to market your property to ensure the tenant is replaced in the minimal amount of time.
A fundamental factor and the key to maximum performance are in setting a market rental rate to achieve stable and consistent occupancy. We constantly monitor the rental market and after assessing your property and market factors that could influence the tenant as to whether or not they will decide to renew a lease and accept a rental increase or not. Recommended rental rates are designed to achieve optimum returns for your property.
Rents are reviewed at the end of each lease term. Advice is provided on the condition of the property, the rental market at the time of renewal and whether rents should be revised. Instructions are always requested from the property owner prior to proceeding with rental increases or renewals.
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