For Property Owners

How long will it take to lease my property?

At Property Minders, our average time to lease your property varies depending on market conditions. We begin marketing your property the day it becomes available to rent. We know you have a mortgage to pay and we focus on finding you a qualified tenant in the quickest possible time.

How do you determine the best rent for my property?

We always strive to get you the maximum rent possible, however we also must keep in mind setting the correct market rent to get your property rented as soon as possible.

To do this, we consider these factors:

  1. Demand - is there currently a high or low demand for rental properties? This can be seasonal and affected by a number of factors.
  2. What is available now - we look at properties currently available for rent and consider their location and features for comparison to calculate a maximum rent for your property.
  3. What we have rented right now - We compare your property with what we have currently rented, taking into account property location and features.

These factors allow us to give you enough information to set the right rent for your property.

What if I want a rent amount that is higher than your recommendation?

You may place your property on the market at whatever rental amount you wish. However, keep in mind that it is market demand that sets the rent, and if the market (i.e. prospective tenants looking for a rental property) think that the asking rent is too high, your property may stay vacant longer than necessary.

With this in mind, be aware your annual rental return will be reduced by 2% for every week it is vacant!

What is the length of the average tenancy?

For residential properties, the fixed term is usually 6 or 12 months.

Do you guarantee the tenant?

We can never guarantee the performance of the tenant for your property. We can only use our professional skills and experience to verify that the tenant can afford to pay the rent and to form an opinion on whether the tenant will maintain the property to an acceptable standard.

As the paying of rent and the maintaining of the property is purely voluntary on the tenant’s part, we cannot guarantee any tenancy outcome. This is a landlord risk that comes with owning an investment property. We recommend that you take out landlord protection insurance if the risk greatly concerns you.

What tenancy documentation is required?

All tenancies are subject to the Residential Tenancies and Rooming Accommodation Act (Qld).

The tenancy documentation includes:

  • A statutory 9 page Tenancy Agreement , including By-Laws if applicable
  • A statutory Information Statement
  • A statutory Entry Condition Report
  • A Rental Bond Lodgement Form.

Who signs the tenancy documentation?

This is your choice. However, it is usual practice for us to sign these documents on your behalf. We will, of course, send you copies of any documents signed on your behalf.

May I give you some special instructions?

Yes. You may give us some special instructions in relation to the property and the way it is managed, provided the instructions are lawful. These special instructions will need to be either specified in the Management Agency Agreement or provided in writing to us.

If I allow a pet at my property, what expectations will be given to the tenant regarding the pet?

If a pet is permitted we will provide the tenant with strict written conditions.

The major conditions would be that:

  1. No additional pet may occupy the property without prior permission.
  2. The pet may not come inside the property.
  3. The pet must be removed from the property if it becomes annoying or bothersome to neighbours (after reasonable warning has been given in writing).
  4. The tenant must be responsible for any damage caused by their pet, and clean up any mess left by the pet.
  5. The tenant must have the property professionally fumigated inside and outside upon vacating the property with a receipt provided to the managing agent.

If the tenant has a pet, can I ask for an extra bond (a pet bond)? 

Unfortunately no! Charging a bond in excess of the tenant’s normal rental bond is illegal in Queensland.

What happens when the Tenancy Agreement expires?

If we have not entered into a new Tenancy Agreement and neither side has given notice, the Agreement continues on a periodic basis. Each party will then be required to give the following notice period to terminate the Agreement:

  • Tenant: 14 days
  • Owner: 2 months

It is not necessary to renew a Tenancy Agreement when the fixed term period ends. While we can request that a tenant renew their Tenancy Agreement for a further fixed term, we cannot insist that they do so. Any renewal agreement must be mutually agreed between the parties.

What keys must be supplied to the tenant?

All tenants listed on the Tenancy Agreement must be given a full set of entry keys. One complete set of all keys must be supplied (this includes keys to all external doors, windows, garage or letterbox locks). We retain a full master set of keys at the office.

This may necessitate having keys cut at your expense.

How secure must the property be?

The law requires that an owner must provide and maintain locks and other security devices to the property in order for the property to be “reasonably secure”.

It is recommended that key operated deadlocks be fitted to all external doors and windows.

What if the tenant wants the locks changed?

If the tenant wishes to alter the existing locks or add other security devices to make the property more secure, the tenant must obtain the owner’s prior consent and pay all costs. The tenant must provide the owner/agent with a copy of any new keys.

What about smoke alarms, light globes and tap washers?

Smoke alarms are covered by separate legislation in Queensland (Fire and Rescue Services Act 1990). It is the landlord’s responsibility to install compliant smoke alarms, test, replace batteries and clean alarms within 30 days before the start or renewal of a tenancy and replace them before the end of their serviceable life. We recommend the use of a qualified professional to meet your obligations in all these respects.

The Act does not specify responsibility for light globes and tap washers. We find that most tenants will replace the light globes themselves if they are working at the beginning of the tenancy. Hard to reach and unusual fittings may need to be covered by a special arrangement. It is often more cost effective to have a licensed plumber replace tap washers as they can ensure that no other more serious problems are present or caused by the inadvertent actions of an unskilled tenant.

Who pays for water usage?

You can only charge the tenant for their water consumption if the property is separately metered (all houses and some townhouses), if water saving devices are fitted and if the tenancy agreement provides for it. You can charge for the water consumption but not for the water access charges.

Where all conditions are met, some landlords wish to charge the tenant all water costs. This is optional; however we do believe that some incentive should be given to the tenant to ensure the garden remains healthy.

Where the property is separately metered but water saving devices are not fitted, you can agree at the start of the tenancy on a reasonable amount of water consumption and charge the tenant for excess consumption over and above this amount.

The property is a house, who is responsible for maintaining the lawns and gardens?

Unless otherwise agreed, the tenant is responsible to maintain the lawns and gardens to the standard they were given at the start of the tenancy.
If the property is provided with watering systems these need to be working and kept maintained during the tenancy.

However, permanent water restrictions in Queensland do mean that landlords need to have realistic expectations regarding the health of lawns and gardens. They will be looking drier than if the water restrictions were not in place.

Can I inspect the property whenever I like?

The Owner/Agent is limited to a maximum of 4 inspections in any 12 months period and a minimum amount of notice must be given to the tenant (seven clear days).  Give us as much advance warning of your visit to Brisbane or desire to inspect the property and we will try to accommodate you.

How can I terminate the tenancy?

There are 3 main ways that a tenancy can be terminated.

To end the tenancy at the end of the fixed term 
The landlord can give at least 2 months’ notice to end a tenancy when the fixed term of the agreement is due to expire.

To end a tenancy after the fixed term has expired (i.e. a continuing tenancy) 
The landlord must give at least 2 months’ notice to terminate the agreement any time after the fixed term has ended.

To end a tenancy due to a breach 
A 7 day termination notice may be given if the tenant has failed to remedy a seven day Notice of Breach due to rental arrears of more than seven days. A 14 day termination notice may be given if the tenant has failed to remedy a seven day Notice of Breach for any other significant matter.

Can a tenant break the Tenancy Agreement?

Residential Tenancy Agreements are legally binding contracts. However, if a tenant wishes to break the Agreement and vacate the property before the fixed term expires, the tenant is responsible for the following:

  • rent until the date a new tenant takes over the property, or until the fixed term expires (whichever happens first)
  • any agreed advertising costs
  • reasonable costs of letting the property (usually the Letting Fee).

It is important to note that the owner/agent must make reasonable efforts to minimise any potential losses the tenant may suffer in this situation.

Who pays for damage by the tenant?

The question of what constitutes damage and what is considered acceptable “wear and tear” is always an issue in property management.
In cases of damage to a property attributable to a tenant that is not considered normal wear and tear, normally the bond will provide sufficient protection to remedy the damage.

If not, the owner can take action in the Tribunal against the tenant. Also, landlord protection insurance can cover this type of situation.

What should I do if I change my address, bank account, phone numbers, email address, etc?

Please notify us in writing as soon as possible.

What do I do if I misplace a rent statement?

Simply request that a replacement statement be issued to you.

What happens to any mail that comes addressed to me at the property?

We ask the tenants to forward to us any mail addressed to you, however, they are not always as diligent with this as we would like.

It is strongly recommended that you request Australia Post to redirect your mail to you.

If I want to renovate property, can Property Minders help?

Property Minders can project manage all renovation work on your property which will ultimately increase your rental income.

Click this link for more information

If I want to sell my property, can Property Minders help?

We are a specialized Property Management business, associated with the buyer’s agency Property Searchers. So we are unable to sell your property on your behalf.

We can recommend the vendor advocacy services of Property Searchers to:-

  • Offer an independent opinion on value of the Property;
  • Choose the most appropriate selling agent;
  • Implement the most cost effective marketing campaign;
  • Adopt the most appropriate sale method;
  • Organise the conveyancing by a reputable and cost effective firm.

 

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