Frequently Asked Questions
Sydney Property Realtor offers a precise rate property operation service for possessors and operates an app for possessors and tenants to fluently pierce their information and raise/ authorize conservation issues. This mix of technology and endured agents insure both tenants and possessors witness a flawless renting experience through both translucency and effective communication.
To do this, we consider these factors:
- Demand – is there currently a high or low demand for rental properties? This can be seasonal and affected by a number of factors.
- 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.
- What we have rented right now – We compare your property with what we have currently rented, taking into account property location and features.
With this in mind, be aware your annual rental return will be reduced by 2% for every week it is vacant!
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.
The tenancy documentation includes:
- A statutory Tenancy Agreement
- A statutory Premises Condition Report
- A Rental Bond Lodgement Form.
- A New Tenant Checklist from the NSW Office of Fair Trading.
The major conditions would be that:
- The pet may not come inside the property.
- The pet must be removed from the property if it becomes annoying or bothersome to neighbours (after reasonable warning has been given in writing).
- The tenant must be responsible for any damage caused by their pet, and clean up any mess left by the pet.
- The tenant must have the carpet professionally cleaned and the property professionally fumigated upon vacating the property.
- Tenant: 21 days
- Owner: 90 days
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.
This may necessitate having keys cut at your expense.
It is recommended that key operated deadlocks be fitted to all external doors and windows.
During the tenancy, the tenant is responsible for replacing any light globes.
The landlord is required to maintained the smoke alarms as such we recommend the use of qualified professionals for that purpose.
However, the tenant is responsible for any cost of water used during the tenancy if the property has an individual water meter and has legally prescribed water efficiency devices.
It should be noted though that Sydney Water requires that water availability and usage accounts must be paid in full by the owner of the property. We then request reimbursement from the tenant for the water usage component of the account.
If the property is provided with watering systems these need to be working and kept maintained during the tenancy.
- To end the tenancy at the end of the fixed term
-Either party can give at least 30 days 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)
-A tenant is required to give at least 21 days notice and the owner must give at least 90 days notice to terminate the agreement any time after the fixed term has ended.
- To end a tenancy due to a breach
-A 14 day termination notice may be given at anytime if either party breaches a term of the agreement, or if the tenant is more than 14 days in arrears of rent.
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:
- 4 weeks rent if less than 25% of the fixed term has expired
- 3 weeks rent if 25% or more but less than 50% of the fixed term has expired
- 2 weeks rent if 50% or more but less than 75% of the fixed term has expired
- 1 weeks rent if 75% or more of the fixed term has expired
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.
That person’s name and contact details should be recorded in the Management Agency Agreement or alternatively, provided to us in writing.
Alternatively, you can make contact with your personal senior property manager who can arrange for a replacement statement to be sent to you.
For information on how we can help you sell your property or assist you in buying another property, contact your personal senior property manager.
During the tenancy, the tenant is responsible for replacing any light globes.
The landlord is required to maintained the smoke alarms as such we recommend the use of qualified professionals for that purpose.
However, the tenant is responsible for any cost of water used during the tenancy if the property has an individual water meter and has legally prescribed water efficiency devices.
It should be noted though that Sydney Water requires that water availability and usage accounts must be paid in full by the owner of the property. We then request reimbursement from the tenant for the water usage component of the account.
If the property is provided with watering systems these need to be working and kept maintained during the tenancy.
- To end the tenancy at the end of the fixed term
-Either party can give at least 30 days 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)
-A tenant is required to give at least 21 days notice and the owner must give at least 90 days notice to terminate the agreement any time after the fixed term has ended.
- To end a tenancy due to a breach
-A 14 day termination notice may be given at anytime if either party breaches a term of the agreement, or if the tenant is more than 14 days in arrears of rent.
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:
- 4 weeks rent if less than 25% of the fixed term has expired
- 3 weeks rent if 25% or more but less than 50% of the fixed term has expired
- 2 weeks rent if 50% or more but less than 75% of the fixed term has expired
- 1 weeks rent if 75% or more of the fixed term has expired
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.
That person’s name and contact details should be recorded in the Management Agency Agreement or alternatively, provided to us in writing.
Alternatively, you can make contact with your personal senior property manager who can arrange for a replacement statement to be sent to you.
For information on how we can help you sell your property or assist you in buying another property, contact your personal senior property manager.
Changing from your property manager is very simple. In fact SPR property manager will handle the entire process for you.
We only allow property managers who have at least 5 years experience to join us. We vet all our candidates as you normally would before you choose to work with someone. Ensuring our investors receive a great experience that us easy and adds value to their life isn’t just a dream it’s a commitment.
Your first step is to give us a call or send us an enquiry. We will then send you and information pack outlining our services. We will offer a free market appraisal based on a market comparison of other properties in your area. Our team of experts may also offer suggestions for possible improvements that could be made to increase the rental return on your investment property.
Should you wish to engage us as your Property Manager we will then commence the leasing process. We will firstly introduce you to our Property Management Team and introduce you to your personal Property Manager. Should your property already be tenanted and managed elsewhere the change from agent to agent is streamlined – we handle everything on your behalf including tenant inspections, forms, and all relevant regulatory requirements.
We strongly advise that all landlords take out not only investment insurance through an insurance agency but also landlord insurance. Landlord Insurance provides cover for your property against loss or damage caused by tenants, whether malicious, accidental or deliberate. It can also cover loss of rent due to tenant default.
All of our rental inspection times are listed on our website. If you cannot view a property within the designated time please give our office a call or drop us an email and we will be happy to assist you with a different time, where possible. As most of our listings are properties that are already tenanted please be mindful of the fact that we also have to work in with times that suit the current tenants.
First of all you MUST inspect the property in person before you can apply. If you like the property, we will then ask you to submit an application. You will be notified within 24 hours of the outcome of your application.
We will ask you for photo identification. We will also ask you to provide payslips and/or evidence of income. If you do not have an income (retired) then you maybe asked to provide a current bank statement to prove your ability to pay rent. If you are currently renting or have previously rented, we will ask you to provide the details of your current agent or landlord or home ownership information.
We will ask you to complete a Tenancy Agreement, pay your first two weeks rent and your bond (usually 4 weeks rent) and arrange your move in date. We will provide you with keys and will ask you to complete a Condition of Entry Report. Your bond is lodged with the Rental Tenancy Authority (RTA).
Yes you will need insurance for your contents. Your landlord’s insurance only covers the property in which you live NOT your belongings.
Many Agencies took nearly 2 to 3 weeks to lease out any vacant property, but We have our Own database and CRM called Eagle software. Where we feed Professional and Clean tenants or prospective tenants who looking around Sydney suburbs. Normally We lease out properties within first week of listing.
Following Factors are highly affecting to achieve the desired rent
1. We keep in mind the “Market Trend “and “Condition of Property.” [ Very Important]
2. Which time of the Year property becoming available for Rent also make huge impact on Value of the rent. [ i.e., if it’s becoming available during Christmas holidays than there are very fewer tenants available in market for rental]
3. How many properties and type of properties available in Similar suburbs also have influence on Rental market
4. Demand / Supply Ratio — What is Demand in the suburb and Supply in the market can determine Current market rent.
We always recommend our clients to go for 6 or 12 months of lease to Check the Characteristic of tenants.
If we found, they are eligible to go for long term than there is always a scope to renew a lease for up to 12 to 24 months.
We follow below steps to verify the tenants.
1. We do 100 points ID checks for tenants.
2. We send application along with those documents to the owner to verify again.
3. Reference checks of “Job Employment “and “Previous Tenancy” is must and can give us brief idea about type of tenants.
4. “Direct Debit” Form gives us authority to debit their rent from Tenants account on fortnightly basis.
[However, at Sydney Property Realtors We Cannot Control future circumstance and behaviour of tenants, but definably above Professional checks gives us idea about type of tenants. We highly recommend to obtain “Landlord Insurance Policy” to protect your investment property]
The three costs of renting are Utilities, monthly rent, and renters insurance.
You must not unreasonably refuse to agree to days and times for showing the premises – however, you need not agree to more than 2 showings in any period of a week. The landlord/agent may apply to the Tribunal for an order to specify the days & times that you must let the premises be shown.