Following are answers to some of the common property management questions which we receive. If you have questions that are not answered below or, if you would like to discuss one of the questions below in more detail, please don’t hesitate to contact us.
This is a question that we get asked quite often. Unfortunately there is no easy answer. However, we can tell you that properties that are well presented, professionally marketed, priced according to market conditions and represented by a professional agent, will be rented more quickly. At Rentals SA we are proud of our low vacancy rates and our low tenant turnover. Most of our properties are rented within eight days of being placed on our rental list.
At Rentals SA, we are well known for our zero tolerance policy when it comes to rent arrears. We have invested in technology which allows us to monitor tenant arrears on a daily basis. After 2 days of arrears, we contact tenants via telephone, email and SMS to follow up on payments. On the 7th day of arrears the tenant receives written notice that they are in breach of their tenancy agreement and that if the outstanding rent is not paid in full within 7 days that they will be served with a Notice of Termination. If there is still outstanding rent on day 14 then a Notice of Termination will be served.
We will communicate with you throughout this process and a Notice of Termination will never be issued without discussing the situation with you first. It is our intention at all times to minimise any loss to the landlord so these actions will be carried out promptly.
All of our tenants are made aware of the above policy at the time of signing their tenancy agreements. Rental arrears are rare due to our electronic rent collection methods and our tenants understanding of the above policy.
With 99% of our prospective tenants using the internet to find their rental properties and the vast majority of our current tenants paying their rent electronically, our physical location is not a concern.
Our central CBD location plus our suburban satellite offices, allows us to service the entire Adelaide region. From Magill in the East to Glenelg in the West, South to Noarlunga and North to Gawler, we’ve got Adelaide covered.
As with any insurance policy, it is not compulsory to have landlord insurance for your investment properties. However, as property specialists, it’s our expert recommendation that every investment property owner has a specific landlord insurance policy in place for each of their properties.
Landlords Insurance protects you in the event of a tenant not paying rent, vacating the property early or damaging the property. It also includes public liability and limited cover for contents (e.g. floor coverings, curtains).
While there are plenty of options available to you, we suggest choosing very carefully. Many policies provided by the major banks are worthless! Be sure to look at how well a policy can cover unpaid rent, liability claims, damage to contents and extreme weather, and most importantly have a look at the excess conditions.
There are only a handful of specialist landlord insurance providers. The most common insurer across properties managed by Rentals SA is EBM. We are a distributor of EBM Landlords Insurance and can arrange your policy for you.