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Owners Frequently Asked Questions

Owning an investment property can be a harrowing experience, especially for first time investors. With the plethora of rules and regulations governing the leasing of a residential property, we understand the concerns that surround many property investors today. Here are some common questions you may ask:

1. How will you find tenants for my property?

We aim to maximize the exposure of your property when we market it for lease. Within 24 hours following your instruction to lease it, your property will be marketed in the following ways:

Online and e-marketing

We immediately execute an online marketing campaign by placing advertisements on:
www.realestate.com.au
www.networkpacificrealestate.com.au

Open for Inspections

Network Pacific conducts private inspections and advertised open for inspections throughout the week. In this way, we provide the viewing time that is most convenient to prospective tenants.
We happily arrange private inspections for prospective tenants who are unable to make the open inspection times.

Our Client Database

Network Pacific actively maintains a database of potential tenants who receive regular emails of available properties that meet their search criteria. We also possess an excellent referral network of educational institutions, HR personnel and recruitment firms who also regularly receive our email notifications that they can forward to their candidates who are looking to rent.

Eye-catching Newspaper Advertising

Properties available for rent may be advertised in the real estate section of weekly national newspapers where appropriate.

Prominent Signages

Where permissible, professional “For Lease” signs are placed in prominent locations to advertise the property is available for lease.

2. Are keys given out to prospective tenants to inspect my property?

All property inspections are accompanied by a property manager from our office. Keys are never provided to prospective tenants to inspect the property unaccompanied. This also ensures that we promote all accompanying facilities with the property, for example; pool, onsite parking, gyms, security features etc

3. How do you qualify prospective tenants?

For every application that is received, Network Pacific conducts extensive background checks on every applicant. This includes:

  • Confirmation of the applicant’s identity through a ‘100’ points check system
  • A check with the National Tenancy Database to ensure they do not have previous undesirable records against them with regards to residential tenancy.
  • Verification of their employment and source of income with their employers
  • Reference checks with past landlords/property managers on their previous rental history

Once we are satisfied with the quality of the applicants, we will discuss their application with you. We will put tenants in your investment property only after this consultation with you.

4. How frequently do you inspect my property?

As your property manager, we are committed to looking after your investment. We conduct the following inspections:

  • Entry Condition Report prior to your tenant moving in and first general inspection after the first 12 weeks to ensure they are settling in well
  • A routine inspection every six months thereafter. You will receive a Routine Inspection Report following each routine inspection
  • An exit inspection after your tenant vacates
  • Additional inspections during the tenancy may be required to complete repairs and maintenance, valuations or as required.

5. How do you manage arrears?

We endeavour to ensure that your rental income is received by the due date. In accordance with the legislation, tenants have a 14-day grace period in which to pay their rent before the landlord can commence legal actions. Our arrears management policy is as follow:

  • Tenants are given an SMS text or courtesy call on the second day after rental is due.
  • Tenants will be contacted in writing if rent due is still not paid after 7 days. As a matter of urgency, they will also be telephoned to remind them to pay the rent.
    If rental remains unpaid after 14 days, tenants will be issued with a 14 day Notice to Vacate for non payment of rent. Three business days following the Notice to Vacate, an application will be made to VCAT requesting possession of the property.
  • If the matter is resolved before a VCAT appearance, no other applications will be made.
  • If the matter is not resolved and brought before VCAT, we will attempt to obtain an order entitling the landlord possession of the property.
  • Once the landlord has possession of the property, we will apply to VCAT for recovery of the bond paid to cover any rent owing.

6. When will I get the rental funds into my account?

Rental monies will be transferred into your nominated bank account on the business day following the payment of rent by your tenant. A detailed landlord statement reflecting all income and charges will accompany each time funds are transferred. All invoices paid on your behalf will also be included.

7. Do you pay invoices associated with the property on my behalf?

With your written authority, we can arrange for council rates and water service charges to be re-directed to our office and paid from the rent collected on your behalf. Invoices for repairs and maintenance will also be paid on your behalf from the rent collected.

8. Can you send me rental statements by email?

Network Pacific is committed to reduce its impact on the environment by implementing, maintaining and continually improving our environmentally sustainable practices. We encourage all our owners to opt for email statements and support us in this worthy cause.

All financial statements, unless otherwise instructed, will be delivered via electronic mail.

9. How do you handle repairs and maintenance issues?

All maintenance and repairs matters are handled on your behalf in accordance to your instructions. If you have a preferred tradesman that you would like us to use, you may let us know. Our 24/7 Maintenance Division sets strict selection criteria and all our contractors meet these criteria. They are all required to obtain the necessary qualifications, permits and must have Public Liability Insurance cover to protect your investment property.

Our property management team will identify the need for maintenance and repairs either through tenants’ feedback or through our regular inspections.

We are committed to responding to repairs in a timely fashion. We also attend to minor maintenance issues before they become major issues or present a risk to tenants.
You may provide us with a pre-authorized limit to carry out minor maintenance works without referring to you.

10. What is the difference between an ‘Urgent’ and ‘Non-urgent’ repair?

Urgent repairs are classified as such if they can pose an immediate health and safety or security risk, or when the property will be damaged if work is not carried out quickly.

The following are deemed as ‘urgent repairs’:*

  • Burst water service
  • Blocked or broken toilet system
  • Serious roof leak
  • Gas leak
  • Dangerous electrical fault
  • Flooding or serious flood damage
  • Serious storm or fire damage
  • Failure or breakdown of any essential service or appliance supplied by a landlord or agent for hot water,
    water, cooking, heating or laundering
  • Failure or breakdown of the gas, electricity or water supply
  • Any fault or damage in the premises that makes the premises unsafe or insecure
  • An appliance, fitting or fixture that is not working properly and causes a substantial amount of water
    to be wasted
  • A serious fault in a lift or staircase

*Source: www.consumer.vic.gov.au

The legislation provides the tenant with a right to arrange for work to be carried out up to a maximum value of $1800 and seek reimbursement from the landlord if they are not attended to within a reasonable time frame.

Non-urgent repairs are required to be attended to within 14 days of notice provided by the tenant.

11. What kind of insurance do I need?

If your property is part of an Owner’s Corporation, the common areas will be covered by the overall building insurance provided by the Owner’s Corporation. However, this does not include the fittings inside your apartment. Fittings may include floor coverings, curtains, light fittings and appliances like stove tops, oven and dishwasher.

We strongly recommend that you consider a Landlord Protection Insurance that covers these items. Some Landlord Insurance also covers you in the event the tenants injure themselves within the property, as well as potential financial loss if the tenant defaults on rent payments. Speak to your insurer to discuss the best policy for you. Alternatively, we can arrange for a Landlord Insurance policy on your behalf.

12. What happens when my tenant vacates?

A tenant must give at least 28 days’ notice of Intention to Vacate. When your tenant has given notice to vacate, you will be notified in writing as soon as we receive the tenant’s notice. If your tenants leave before the expiry of the fixed term, commonly known as ‘breaking the lease’, there may be costs incurred by them.

Marketing of your investment property starts as soon as your tenants advise us of their Notice of Intent to Vacate in writing. A rental review is usually conducted at this time to ensure we achieve the best possible returns for your investment.

13. How often will you communicate with me?

We communicate with you as often or as little as you like via phone calls or email correspondence. You will be contacted at the very least:

  • Once weekly when your property is being marketed for lease
  • When an application has been received to lease your property
  • Each time following a Routine Inspection
  • When a rental review is due, usually at the end of a fixed term lease
  • When your tenants hand in their Notice of Intent to Vacate

You will also receive a monthly newsletter to all landlords to keep you informed of the latest industry trends and information.

For more specific concerns which are not addressed here, ring us at 03 9816 4722 and speak to our property managers. Alternatively, you can send your queries to: propertymanagement@networkpacific.com.au