As a Landlord, when and how do I get my rental payments?
BPG use the very best operating systems from leading industry suppliers to ensure that your monthly statements are electronically emailed to you. We credit your nominated account through direct debit via Westpac. At the end of the year we also provide you with a statement of activity for your accountant. This gives you a detailed report on the income and expenditure for your investment. If you lose a statement, we will gladly replace this at no cost.
We can also take care of paying any bills on time. The details of the bill payments will show on your monthly statement so you can keep on top of the expenses. This also means that expenditure relating to your property is on one easy financial statement.
How do we choose a tenant?
At BPG we carefully screen tenants and carry out reference checks when we process applications. Each prospective tenants must provide an application form clearly outlining employment history, previous rental details and provide formal ID. We utilise the National Tenancy Database to check tenants who have been blacklisted by other real estate agencies.
When we market your investment property we aim to attract the largest number of applications allowing you to choose the most suitable tenant for your property. The less time vacant the more time your property is producing income for you. To do this we need to have all of our marketing bases covered. Our office subscribes to feature listing packages so we can offer your investment the best possible exposure online including both realestate.com.au and domain.com.au.
We also erect our eye catching leasing board’s onsite when we know that your property is coming available. They have all the essential information for tenants to contact. We also advertise all of our open for inspections on our rental lists and also online. At BPG we don’t just show people through Monday-Friday between 9.00am-5.00pm but we actually schedule viewings when potential tenants are available including weekends.
How will I know BPG is looking after my property?
We carry out regular inspections of your property. Our inspections are very thorough and form a large part of managing your investment. Routine inspections ensure any minor repairs and maintenance are brought to your attention including budgeting for larger expenditure. After each inspection you receive a written report with photo’s outlining the overall condition of the property. Our comprehensive inspection program ensures that maintenance & repairs are resolved quickly by qualified tradespeople.
Upon the commencement and completion of a tenancy agreement a detailed entry and exit report is completed before we release the bond to the tenants.
What is the best time to do rent reviews?
Generally, prior to the commencement or the change of tenancy we discuss the marketing campaign and recommend any rent increases accordingly to your wishes.
Do I need things like a safety switch and smoke detectors?
Yes, Under Queensland law, all residential premises must be fitted with a working safety switch.
Landlords must ensure their rental property is fitted with the required number of working alarms complying with Australian Standards and installed per the Building Code of Australia. Under the QLD Fire and Rescue Service Amendment legislation landlords must test and clean each smoke alarm within 30 days prior to each tenancy change or tenancy renewal. Landlord must replace batteries that are flat or almost flat and must replace the smoke alarm before it reached the end of its useful life. The legislation prohibits the transfer of this responsibility to the tenants. It is important to ensure your property is compliant at all times.
What happens if my rental property if has a pool?
If a swimming pool is included as part of the rental property, the maintenance should be covered in the special terms of the tenancy agreement. The tenant is generally responsible for everyday maintenance such as clearing leaves from the pool and may be responsible for more regular maintenance.
All things associated with maintaining the pool should be discussed prior to signing the agreement. It is recommended that the lessor/agent provide instructions for any maintenance the tenant is required to carry out.
The lessor must have a pool safety compliance certificate from a licensed pool inspector prior to renting the property and should be included in the tenancy agreement.
If a tenant is not familiar with pool maintenance they should discuss this with the lessor/agent. A pool service and training package can be arranged at the expense of the tenant on leasing the property if required.
If the pool maintenance is covered by a contract between the lessor and an external company this should be listed in the tenancy agreement having tenants liable for the chemicals.
Can I charge for additional items like water?
Yes, you are able to pass on the full water consumption costs to tenants providing all of the criteria are met. This means the property must be individually metered, the property is water efficient (3 stars wells rated) and have a plumber’s compliance certificate, the Tenancy Agreement states that they must pay for water consumption.
Upon the signing of our Agency Agreement we will complete our property listing checklist and if required, we can organise our preferred plumber to carry out an inspection at your property.
As a landlord should I have insurance?
At BPG we recommend you take out two types of insurance. These are Building and Contents Insurance as well as Landlord insurance.
Have you purchased an Investment Property or are looking for Property Management Advice?
At BPG we are happy to help your source and secure an investment property. This may be your first investment or simply adding to your current portfolio. Our team is equipped with the knowledge to answer any questions regarding the investment property purchase. If you need a current rental evaluation on any properties that you wish to purchase or any listings BPG has for sale let us know and we can organise a rent appraisal for you.
We can talk to you about the good and bad things associated with the property as an investment and the type of tenants you can expect to attract. We can also provide a range of best and worst case scenario’s and most likely weekly rental. Once you have purchased the property we are able to attend the property and provide you a full report on what is required to get the property ready for tenants to occupy.
This includes attending the property at handover, organising any repairs that may be needed, ensure the property is ready for tenants, advertising your property so that you get a quality tenant, help you organise the correct Landlord & Building Insurances as well as depreciation schedules from a reputable quantity surveyor if needed.