How long does it take to get a suitable tenant?
The time it takes to rent your home depends on market conditions. However, in recent years it has averaged between 14 and 30 days.
- Most prospective tenant would need to give 14 to 21 days’ notice to their current agency or landlord.
Our new business manager knows how vital the time factor is, with your permission they will start to promote your property to appropriate tenants in our database even before the property is advertised.
- Quite often at North Estate Agents we will have fully reference checked, quality tenants lined up for your property so you experience little or no vacancy period.
To make the time as short as possible, we put your rental home into our system as soon as it is “rent ready”. This means it is listed on several different web sites, complete with full-colour photos.
- Our Property Managers know how important the time factor is, especially when there are mortgages to pay, so they often conduct viewings of your property after hours and at times to suit tenants. We make sure no-one is missed!
Keep in mind, that the overriding factor in renting, is to not only find tenants, but to find the right tenant. This may not be the first one who applies for the property.
Getting the right tenant for your home
Getting the right Tenant for your home is absolutely essential. When we receive an Application to rent your property, the prospective tenant is required to provide the following:
- Identification (usually a current driver’s licence)
- Proof of income, such as current payslip
- Any previous rental references
- Details of employment history
- Release under the Privacy Legislation
- The application is then processed by our staff in the following manner:
- All previous rental references are checked
- Employers are contacted for confirmation of details
- Details are checked through (TICA) defaulting tenancy database
- We search through court records for bankruptcies and any outstanding debts or charges
- Personal references are contacted for more details
- Once the tenant is approved we then involve you in the final choice
Presenting your property
“Nice properties attract nice people”
This saying is particularly true when it comes to renting properties. The better the presentation, the better quality of tenant you will get. To assist in the smooth leasing and management of your rental property, we ask that the property be presented to North Estate Agents’ standard. This will be explained in detail on inspection of your property, as each property is different. However, in general terms it is important to:
- Attend to outside areas; gardens, lawns, shrubs etc should be tidy, lawns mowed etc.
- Ensure that all outside painted areas are sound
- Have inside areas cleaned, including walls and stoves
- Have all appliances, stove, hot water service, air-conditioners, heaters, ceiling fans and all electrical wiring, power points etc. in good working order
- Make sure all blinds and curtains are clean and in good working order
- Have carpets professionally cleaned
Detailed inspection report, lease and bond lodgement form
As a part of the process of leasing your rental home, a number of important tasks are done prior to letting people into your property.
First, we prepare a very detailed entry condition report. This is usually several pages where every detail of the condition and state of repair is noted for every room as well as the exterior of the building, and the front and back yards. In addition, we take a series of internal and external photographs which are kept on file in digital format. The Inspection Report is a Government prescribed form required under the Residential Tenancies Act. As a part of the sign-up process, the tenant is required to sign this form. In addition, they are required to check our notations and report any discrepancies back to us within seven days (NSW) and three days (QLD).
Next, we prepare a formal written Lease which includes any special conditions you require that are within legislation. A Bond Lodgement form is also prepared. This is also a Government prescribed form and is signed by us on your behalf and by the tenant and is then lodged with the bond money at the RTA (QLD) and Renting Services (NSW).
Once all the paperwork is prepared, an appointment is made with your new tenant to go through everything and sign all documents. The bond and first rental payment is taken at this time and keys are signed for and released. The tenants then move in.
Once completed, a copy of the lease is forwarded to you.
You don’t have to worry about meeting all the legal requirements of the Act – we do it all for you!