Owners Resources - FAQ

  • What does my management fee pay for?

    It pays for the day to day management of your property - it is deducted from rental income from the tenants.

  • What does the letting fee pay for?

    The process in which we find a new tenant, viewings, home opens, application processing, paper work, Tenancy Agreement, sign up, bond lodgement paper work etc.

  • Why should I pay marketing? Isn't that what my letting fee/management fee is for?

    This is an additional cost as it varies depending on the level of advertising you want. Letting fee is for the above stated and management is only charged on incoming money collected from the tenant.

  • How thoroughly do you process/screen applications? Can I reject an applicant? Do you provide recommendations?

    Once we have received the application we phone their two previous rental references, work references, two personal references and check photo identification. If they own the previous property we check this against RP Data to ensure this is correct. Once completed we put the applications to the owner and it will be the owners decision to proceed with a national tenant database/credit check to ensure they have no negative records.

  • How often are inspections & do I get informed each time? Can I attend a routine inspection?

    Routine inspections are carried out every 13 weeks; this is in line with most insurance companies requirements. Yes you will get a report each time. If you wish to attend any inspections let us know and we will notify you of the date and time.

  • Why do I need landlord insurance? Isn't that why I have a property manager?

    Landlord Protection Insurance covers any loss of rent, malicious damage etc. Yes, while a property manager can prevent these issues, sometimes people’s situations change and things can escalate quickly while waiting for a breach to expire and a court date to be set. Property Managers do not cover any loss over and above the bond.

  • Will I only have 1 property manager or more?

    You will have one property manager (unless of course a property manager leaves the company, then you will be assigned a new property manager), in our organisation we have a high staff ratio per property including a tiered management team and administrative support who can all assist with enquiries if your property manager is not available. However day to day running will be the responsibility of your assigned property manager.

  • What is your procedure if tenants are behind on rent?

    At Harcourts BCRE we have a strict zero rent arrears policy which the tenant is advised of at sign up and a form that they sign agreeing that they understand our procedure. We monitor rental payments on a daily basis and start the process on day one.

  • Do you get 3 quotes or just 1?

    Because we are conscious of the owners’ costs we will generally use our experience to advise the owner of the estimated cost. We can also use our trusted contractors to advise us of their thoughts. This is because call outs to quote can cost the owner extra unnecessary costs. If a quote is required we can arrange one, two or three quotes depending on the owner’s requirements.