Frequently Asked Questions
How long will it take to lease my property?
At True, our average time to lease your property varies throughout the year depending upon market conditions. However, we begin marketing your property as soon as we are aware of the date it will become available for rent and we are totally focused on finding you a qualified tenant in the quickest possible time.
When you find an applicant for my property, how do you qualify them?
We strive to provide you with the calibre of tenants that you want in your rental property. This includes:
- An interview with one of our highly experienced team members
- A 100 point identification check
- A detailed tenancy database search
- Verification from their current/former landlords/agents
- Verification of their employment
- Verification that they can afford the rent and all other monies payable under the tenancy agreement.
In addition to the normal financial qualifications, we always try to accommodate the housing needs of our tenants to ensure the property they rent is convenient to their work, shopping and desired school district. This will help to ensure that they will settle quickly into the area and remain longer in your rental property. Unless you instruct otherwise, all tenancy applicants, once interviewed and reference checked by us, will be presented to you for approval before any tenancy documentation is entered into.
How quickly do you process the rent statements to property owners?
We pride ourselves on prompt and regular processing of rent statements. Unlike some of our competitors we do not make you wait until the end of the month, we process rental statements at least once a week to ensure you receive funds in the shortest possible time. Rent Statements will be posted or emailed to you on the next working day and unless you instruct otherwise your rent monies will be deposited into your bank account by electronic funds transfer (EFT).
How often, and how are property inspections conducted?
When your property is vacant, we inspect it at least once a week. During a tenantís occupancy, we carry out routine inspections every 6 months with the initial inspection conducted once the tenant has been in occupation for three months.
To view a sample routine inspection report click here.
When the tenants give notice of their intention to vacate the property we carry out a brief pre-vacating inspection of the property to:
- ensure the tenant gives the property back in the same condition they received it (fair wear and tear excepted)
- ascertain if any essential work is required to make the property ready for re-letting.
When the tenants vacate your property we carry out a detailed outgoing inspection. The inspection is done to ensure that the tenants return the property back to us in an acceptable condition. If damage is found or cleaning is necessary, we make the necessary deductions from the tenants rental bond.
Should I take out Landlord Protection Insurance?
Landlord protection insurance is vital for any professional investor and we strongly recommend you take out this cover.
It can cover unforeseen circumstances like:
- Accidental damage or breakage
- Malicious damage or vandalism caused by tenants
- Deliberate or intentional damage caused by tenants
- Public Liability
- Loss of rental income
- Rent default and theft by tenants.
We can refer you to specialist landlord protection insurance companies with excellent cover and premiums. Please contact firstname.lastname@example.org for further information.
How are rental collections handled?
Our rent collection policies are as follows:
- All rents are due either monthly or fortnightly in advance
- The vast majority of our tenants utilise our DIRECT DEBIT facility from their bank accounts for rent payments
- If your tenant is 5 days late with their rent, they are personally phoned, faxed, emailed or sent an sms message
- Tenants who are 10 days late with their rent are personally phoned or visited by a property manager
- If the outstanding rent is then not paid within 2 days, we will contact you to update you on the situation and seek your instructions regarding the possible termination of the tenancy
- Once the tenant is 15 days late with the rent and subject to your instructions, we serve the tenant with a Notice to Vacate requiring the tenant to vacate the property within 14 days.
Do you provide me with an End of Financial Year Statement for my income tax return?
Yes. We can either provide you with a paper based Statement at the end of June each year, or you can access an electronic copy at any time via a secure login to the True website.
Can you pay my Water Rates, Council Rates and Strata Levies for me?
Yes, just advise us in writing and we can do the rest.
Do I need to redirect my mail?
Yes, tenants cannot always be relied upon to forward your mail to you or to us. So, we recommend that you arrange a suitable mail redirection service with Australia Post.
Can I use my own tradespeople to carry out repairs at the property?
Certainly. However, it is important to ensure that anyone who carries out work at your property is appropriately licensed and insured. True has a large pool of tradespeople on its books that can carry out repair work in a timely fashion, and with our bulk buyer power, at very competitive prices.
Are you the cheapest property management business in the area?
Definitely not. However, we do believe we are the best property management business in Melbourne focused on providing a level of service unsurpassed in the industry. We have found that charging a discount price dictates a lower level of service, therefore we charge a competitive fee commensurate with the high quality of service we provide to our clients. Low fees may end up costing you more over the life of your investment property.
Why should I choose True Property Management?
In two words, Experience and Expertise. Our clients know that our people make the difference. Our business is owned and operated by the people who train, mentor and coach other property managers throughout Australia and have done so many years. If you have a residential rental property in Melbourne, there is no better choice than True Property Management.