Who pays for water charges ?
The tenant is responsible for all metered water usage charges and the landlord is responsible for daily line / supply charges . Where the water supply is from a tank , the landlord should provide a full tank at the start of the tenancy .
Insurance - is this required ?
Although not a legal requirement , we advise all landlords to have comprehensive insurance to cover both their property and the tenancy ( these are often two different policies ). Investors need to be careful to check their policy wording and the cover that is offered , particularly now around the areas of methamphetamine contamination and its associated costs , tenant liability for careless or accidental damage and also inspection frequency requirements .
It is important for landlords to insure chattels such as carpet , drapes , stove and other whiteware that a tenant may be using and also to maintain a current insurance certificate if the property has a chimney . Always remember to tell your insurance company that the property is tenanted to ensure you have some cover .
Ray White property managers have access to comprehensive tenancy related insurance , so please contact us directly to find out more .
Gardens - who is responsible ?
Under the Act , gardens and lawns are to be kept in a “ reasonable condition ” by the tenants . Pruning trees and hedges , spraying and vine removal are the landlord ’ s responsibility . We advise that in properties with large gardens or those that require more maintenance than usual , landlords consider the option of maintaining this as a part of the weekly rent to ensure standards are kept at an acceptable level long term .
Can you guarantee the tenant ?
We can never guarantee any approved tenant ( s ) for your property , however , through our training , systems and processes we do everything we can to ensure all risks are minimised .
Although it is expected and communicated as such , the paying of rent and maintaining the property cannot be guaranteed . This is a risk to landlords that comes with allowing someone to rent a property .
How long will it take to rent my property ?
The length of time it takes to secure a tenant for your property will largely come down to market demand at the time , the condition of your property and an effective marketing and pricing strategy .
If an existing tenant gives three weeks ’ notice ( as they are entitled to do ), it is highly likely that a new tenant will be secured and ready to take possession as close to the outgoing tenants date of vacating as possible .
Your property manager will do everything in their power to minimise your vacancy period , and provide you with regular feedback throughout the process .
What is the achievable rental amount for my property ?
Your property manager will advise you on what is ‘ fair market rent ’ for your property based upon their market knowledge , current levels of market demand , the area , comparable properties and statistical data .
55