property management faqs

What are the benefits of using a professional property manager, as opposed to managing my own rental property?
If you are considering managing your own property, you must be aware of current legislation pertaining to tenancies, will have to collect rent (or alternatively, follow up late payments), and organise for any quotes or repairs. These activities can be time consuming.
In contrast, the position realty team is extremely experienced in managing properties and leasing. Not only are we proactive in managing properties, we have a vast tenant database, and we maintain excellent relationships with our trusted tradespeople. By engaging our services, you are guaranteed the satisfaction that you have a knowledgeable team behind you who will ensure your property is kept well maintained.
 
How do I know what my property will rent for?
One of the easiest ways to get a feel for your property’s rental value is to compare similar rental properties in the area that your property is located. You should also take into consideration the market fluctuations, for example property values in the Eastern Suburbs tend to increase around Spring.
To ascertain a better indication of your property’s rental value, our property management team is more than happy to offer a free rental appraisal.
 
How long does it take to find a tenant for my rental property?
Rental properties tend to follow the typical supply and demand curve, pertaining to market conditions. In our experience, however, we have found that properties which are well presented and appropriately priced for the market appeal to a greater amount of potential tenants.
On average, our turnaround period to lease a property is three days, which is inclusive of screening and reference checking.
 
How do you find tenants?
position realty has an extensive tenant database, have established relationships with many relocation agents, hold open and private inspections (often early morning and late evening, as well as Saturdays), and advertise in numerous, cost effective ways. Our bold and strong imagery and our statement copy to captivate people’s attention visually and verbally is seen through our online advertising (domain.com.au, realestate.com.au, rent.com.au, the position realty website, etc). Our suite of property marketing tools, from social media to For Lease signs will ensure your property stands out in any market.
 
How do you qualify tenants?
Thorough screening and reference checking, including Google searches, are undertaken on all prospective tenants.
 
How long is the average tenancy period?
Most leases run for a period of six or twelve months and then the rental is renegotiated.
 
What happens if my tenant doesn’t pay rent?
To ensure that our tenants do not fall into arrears, we have a direct debit system in place with our tenants. Additionally, our property management team takes proactive approach to avoiding rental arrears by monitoring rental payments daily, and having complete follow through.
 
How can I be sure that my property will be well looked after?
We perform up to four inspections per year to ensure your property is being well maintained. Photos and a full report are emailed to you.
 
Do I need landlord’s insurance?
While landlord’s insurance is not required by law, we highly recommend all landlords take out a policy for their properties. This is simply for your protection and peace of mind in the event that there is accidental or malicious damage to your property or loss of rent.
 
How do I change my managing agent?
Changing your managing agent is not as complicated as it sounds. Simply contact our office and our property management team can easily organise this for you, from providing the necessary documentation to collecting your files from your previous managing agent.
 
What happens if I decide to sell my property?
Even if your property is tenanted, you can sell your property at any time. Our property management and sales teams work closely together at all times to obtain the best results for you, regardless of whether you’re selling or renting out your property. If you do decide to sell your property, our sales team is always happy to assist and answer any queries.