Frequently Asked Questions
How long will it take to lease my property?
Here at Agent4U Realty we focus on finding an excellent quality of tenant rather than focusing on how fast we can lease the property. There is no real average time to how long it should or shouldn’t take to lease out your property. There are many other outside influencing factors which can determine how long it takes. For example the market conditions, type of property, location, property condition etc. However we can adapt to each landlords individual needs and requirements.
How do you determine the rent for my property?
We always strive to get you the maximum rent possible, however we also must keep in mind setting the correct market rent to get your property rented as soon as possible. To give you a market appraisal and determine how much your property is worth we look at the current market situation, what other properties similar to yours have been leased for and the demand. Did you know that every week your property is vacant the annual rental return will be reduced by 2%.
What length of tenancy do you advise?
For most properties we recommend either a six or twelve month lease to begin with. But this is completely up to you. We offer our suggestions but let you make the final decision as it is your investment property.
May I give you some special instructions?
Yes you certainly can as long as they fall in line with current legislation. For example if a landlord does not want pets at the property, or does not want to include the garage with the rent of the property.
What happens when the Tenancy Agreement expires?
The Agreement continues on a continuation (or holding over) basis. Each party will then be required to give the following notice period to terminate the Agreement:
· Tenant: 21 days
· Owner: 90 days
It is not necessary to renew a Tenancy Agreement when the fixed term period ends. In fact, in Sydney, most landlords and tenants choose not to enter into a renewal agreement once the initial fixed term expires.
While we can request that a tenant renew their Tenancy Agreement for a further fixed term, we cannot insist that they do so. Any renewal agreement must be mutually agreed between the parties.
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. This may necessitate having keys cut at your expense.
How secure must the property be?
The law requires that an owner must provide and maintain locks and other security devices to the property in order for the property to be “reasonably secure”. It is recommended that key operated deadlocks be fitted to all external doors and windows.
What about smoke alarms, light globes and tap washers? It is the landlord’s legal responsibility in NSW to provide working smoke alarms and light globes, and to fix any leaking taps prior to the commencement of the tenancy.
During the tenancy, the tenant is responsible for replacing any smoke alarm batteries and light globes. We are not legally qualified to check the functionality and suitability of certain types of smoke alarms and as such recommend the use of qualified professionals for that purpose.
Who pays for water usage?
If there is a separate water metre for the property and water efficient devices have been installed at the property it is the tenant’s responsibility to pay the usage charges.But if there is no separate metre and or there are no water efficient devices we are unable to charge water usages.
The property is a house, who is responsible for maintaining the lawns and gardens? Unless otherwise agreed upon it is the tenants responsibility to maintain the lawns and gardens.
Can I inspect the property whenever I like?
You can, however, the tenant needs to be given 7 days notice. The Owner/Agent are limited to a maximum of 4 inspections in any 12 months period. Please note you must give the tenant notice before inspecting the property.
How can I terminate the tenancy? The tenancy can be terminated one of four ways
1. 30 days termination notice for end of lease or when the property has been sold
2. 90 days no grounds termination notice- if you wish to give the tenant notice and the lease agreement has expired.
3. 14 days termination notice for breach of tenancy
4. 15 day termination notice for rental arrears.
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 to pay a four week break lease fee.
If at any time you have any other questions please feel free to contact Simone from Agent4U Realty and she will be more than happy to assist you.
