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Frequently Asked Questions

 

 

If you have a question related to the information below or any other queries please feel free to contact our Client Relationship Manager, Eliza Zammit, on (02) 9683 0000. Please note we also provide our new clients with a Property Owner’s Handbook, which is a more comprehensive source of information.

 

 

 

How do you determine the best rent for my property?

 

 

Our goal is to always maximise your rental return. However we must also ensure that the advertised rent is line with the market in the best interest of leasing your property as quickly as possible.

 

 

Some important factors in determining the advertised rent:

 

  • Demand - is there currently a high or low demand for rental properties? This can be seasonal and affected by a number of factors such as interest rates.
  • What is available now - we look at properties currently available for rent and consider their location and features for comparison to calculate the best possible yet realistic rent for your property.
  • Taylor’s rent roll - we compare your property with our existing rentals, taking into account property location and features.

 


These factors allow us to give you the necessary information to advertise the right rent for your property.

 

 


How long will it take to lease my property?

 

At Taylor Real Estate our average time to lease your property varies depending on market conditions. However in recent months we have averaged less than 14 days.

 


We begin marketing your property the day it becomes available to rent. In addition, unlike many other real estate companies, we have a specialised leasing consultant focused solely on finding you a qualified tenant in the quickest possible time.

 

 


What is the length of the average tenancy?

 

 

For residential properties, the fixed term is usually 6 or 12 months.

 

 

 

Do you guarantee the tenant?

 

No one can honestly guarantee the performance of the tenant in your property. We can only use our professional skills, experience, and industry best practice to verify that the tenant can afford to pay the rent and will maintain the property to an acceptable standard.

 

 

Given the ultimate uncertainty that comes with owning an investment property, we recommend that all owners take out landlord protection insurance. Our preferred insurer covers any rental arrears and property damage that the bond doesn’t cover, up to $60,000.

 

 

 

If I allow a pet at my property, what conditions will apply to the tenant?

 

If a pet is permitted we will provide the tenant with strict written conditions.

 

 

The major conditions are as follows:

 

  • The pet may not come inside the property.
  • The pet must be removed from the property if it becomes annoying or bothersome to neighbours (after reasonable warning has been given in writing).
  • No additional pet may occupy the property without prior permission.
  • The tenant must be responsible for any damage caused by their pet and clean up any mess left by the pet.
  • The tenant must have the property professionally fumigated inside and outside upon vacating the property with a receipt provided to the managing agent.

 

 

 

If the tenant has a pet, can I ask for an extra bond (a pet bond)?

 

Charging a bond in excess of the tenant’s normal rental bond is illegal in NSW. So a pet bond is not permitted.

 

 

 

What happens when the Tenancy Agreement expires?

 

The agreement proceeds on a continuation or carry on basis. Each party will then be required to give the following period of written notice to terminate the agreement:

 

  • Tenant: 21 days
  • Owner: 60 days

 

 

It is not necessary to renew a Tenancy Agreement when the fixed term period ends. Either party may request a renewal for the same or a different fixed period of time, however a new agreement isn’t entered into without a mutual agreement.

 

  

 

 What keys must be supplied to the tenant?

 

All tenants listed on the Tenancy Agreement must be given a full set of keys. This includes keys to all external doors, windows, garage, or letterbox locks. We retain a full master set of keys at the office.

 

 

 

What if the tenant wants the locks changed?

 

If the tenant wishes to alter the existing locks or add other security devices to make the property more secure they must obtain the owner’s prior consent and pay all costs. The tenant must also provide the owner/agent with a copy of any new keys.

 

 

 

Who pays for water usage?

 

If there is no individual meter for the rented premises, as in the case of blocks of older style units, a tenant cannot be charged for water usage. However, the tenant is responsible for any cost of water used during the tenancy if the property is separately metered.

 

 

It should be noted though that Sydney Water requires that water availability and usage accounts must be paid in full by the owner of the property. We then request reimbursement from the tenant for the water usage component of the account.

 

 

 

Can I inspect the property whenever I like?

 

For all inspections the tenant needs to be given seven days notice. The owner/agent is limited to a maximum of four inspections in any 12 month period.

 

 

 

How can I terminate the tenancy?

 

There are three main ways that a tenancy can be terminated.

 

 

1. To end the tenancy at the end of the fixed term:

 

     Either party can give at least 14 days notice to end a tenancy when the fixed term of the agreement is due to expire.

 

 

2. To end a tenancy after the fixed term has expired (i.e. a continuing tenancy):

 

     A tenant is required to give at least 21 days notice and the owner must give at least 60 days notice to terminate the

     agreement any time after the fixed term has ended.

 

 

3. To end a tenancy due to a breach:

 

     A 14 day termination notice may be given at anytime if either party breaches a term of the agreement, or if the

     tenant is more than 14 days in arrears of rent.

 

 

All notices to tenants require an additional four (4) business days for postage.

 

 

 

Can a tenant break the Tenancy Agreement?

 

Residential Tenancy Agreements are legally binding contracts. However, if a tenant wishes to break the agreement and vacate the property before the fixed term expires, the tenant is responsible for the following:

 

 

  • Rent until the date a new tenant takes over the property, or until the fixed term expires (whichever happens first).
  • Any agreed advertising costs.
  • The owner’s costs of a letting fee and tenancy agreement preparation fee.

 

 

It is important to note that the owner/agent must make reasonable efforts to minimise any potential losses the tenant may suffer in this situation.

 

 

 

If I want to sell my property or buy another investment property, can Taylor Real Estate help?

 

Yes, we have our own real estate sales team to service the needs of our property management clients. For information on how we can help you sell your property or assist you in buying another property, contact your personal Portfolio Manager.

 

 

 

 

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