Landlord information

What is a property condition report?

This is a report that is compiled at the commencement of a tenancy prior to your tenant moving into the property. This report outlines the condition of the property at the commencement of the tenancy. The report comprises of at least 12 pages and outlines each room further dissected into each wall, light fittings, windows, skirtings, power points etc. and is used when the tenant vacates to ensure that the property is left in the same condition. This is the last inspection carried out as soon as possible after the end of a tenancy, when the tenants have returned their keys.

The property condition report is checked off item by item to make certain that the property is in the same condition as when the tenant took possession. It is at this inspection that any items that need to be rectified by the tenant are identified.

Property Condition Report

What is a routine inspection?

Routine inspections are conducted after a tenant takes possession of the property. The first inspection is carried out at the end of the first 3 months and then every 6 months thereafter. These inspections are essential to ensure that your property is being maintained to an acceptable standard and to identify any maintenance that may be required. At bellarine property, we take this important step a little further: we actually take a photo of each room in the house from the lounge through to bedrooms and bathrooms. We take photos of appliances, shower cubicles and/or any damage/maintenance observed.

Outside, we take photos of the garden, garage both internal and external, gutters, trees, fences/gates and again any maintenance issues observed. A comprehensive report will be emailed to you along with the photos of the property so that you can see and believe that what we say in the report is true and correct. This method of inspection creates incentive for the tenant to ensure all is clean and tidy, lawns mowed etc, for the inspection. This method of inspection also creates a stronger relationship between landlord and agent as it reflects our honesty and commitment to you and the services we provide. Additionally, it provides you with a reference should you ever need to assess previous reports and is easily filed away in your computer/Ipad/Iphone. Should it be necessary, a member of the bellarine property management team will contact you to discuss items noted on the report.

Furthermore, the previous routine inspection report and photos are compared to the current to act as a guide to ensure anything amiss is deemed as fair wear and tear and not damage by the tenants. Routine inspections are an important process as they create a pattern over the years on the general care of the property and in preventative maintenance that exceeds normal wear.

When does the rent money get paid into my account

At the end of every month all monies held, unless instructed otherwise, is paid to you by way of direct debit to your nominated bank account or by cheque. A statement is issued at the same time outlining the debits and credits for that month. To help maximise your rental return, we ensure payments are forwarded to you promptly each month. Each month, we forward to you an itemised statement showing all rental income and payments made on your behalf.

For owners with multiple properties, these can be separated on individual statements or combined on one statement. There are 5 payment runs available depending on the frequency the tenant pays rent. We will place you on the most suitable payment run to get rental funds to you as quickly as possible. Statements can be emailed or posted (with copies of invoices attached).

Council rates, water rates, body corporate fees and insurance premiums are just some of the accounts that can be paid on your behalf from received rental monies.

What happens when a tenant stops paying rent?

Should tenants fall into arrears, we are aware of it immediately, because of our ‘zero tolerance’ policy and our daily arrears management process.

Prompt action follows in accordance with the residential tenancies act and your instructions.

How do tenats pay their rent?

Tenants have several options to pay their rent, leaving no excuse for late payments. – by cheque or money order – internet banking through their chosen financial institution – direct debit from their nominated bank account, we will supply the tenant with our account details to arrange an automatic transfer.

We encourage and educate tenants to pay the full rental amount when due, to ensure that your investment is working for you. This is somewhat alleviated by the fact that the majority of our tenants pay their rent by direct debit whereby we are in control of drawing the funds from their bank account.

Rent reviews & Lease renewals

We want your investment working for you. That’s why your tenancy agreement is closely monitored to ensure you gain full advantage of current rental market trends. It is most important for us to constantly monitor the rental pricing market and review the rental prior to the expiration or renewal of each tenancy agreement. Why? Because we must help you maximise your investment return. We want to ensure that you achieve the highest return possible on your property investment. We will contact you on these occasions to present the options available and make a recommendation that is best for you and your property. We will then seek to confirm your instructions on paper as all landlord instructions must be in writing.

For those leases that are periodic, that is on a month to month basis, we will contact you via mail every six months advising you if a rent increase is applicable. For periodic leases, rent increases can be applied every 6 months.