Frequently Asked Questions
Can I charge my tenant for water consumption?
Yes, you can charge the tenant for water usage providing the rental property is separately metered. You can also arrange for the invoices to be forwarded to our office so our accounts department can pay them on your behalf from the rent.
Do I need landlord insurance?
It is a requirement that all our owners ensure that they have adequate building and contents insurance cover. Landlord insurance is not compulsory however we strongly recommended that every investment property owner has a specific landlord insurance policy in place for their property. Landlord insurance protects you in the event of a tenant not paying rent, departing the property early, or damaging the property. The policy should include public liability and cover for contents such as carpets and curtains.
While there are plenty of options out there, we suggest choosing very carefully. Please contact your property manager for further information.
How will I know what my property will rent for?
You will get the best indication of what your property should rent for by closely comparing it to other properties similar to yours that are currently being rented, or have just been rented, in the same area. Market forces will determine exactly what amount of rent you achieve. If you have a very popular property you will get more interest and subsequently a higher rent. If you have a property that is less desired, you will find it hard to command a premium rent.
What factors determine how much rent my property will achieve?
The rental price will be determined by:
a) Market demand
b) The type of rental property
c) The age of rental property
How can I maximise the return on my rental property?
First impressions last. To attract a quality tenant who is prepared to pay a premium rent you need to have your investment property well presented and in good repair. Are the lawns and gardens neat and tidy? Are the windows, carpets, floors, bathrooms, and appliances clean and in good order? The better a property is presented the more interest it will receive.
How long will my property be vacant?
NOW Property Management vacancy rates remain well under the industry standard because we fully utilise the 28 day notice period and prepare strong marketing campaigns.
Our aim is to secure the most qualified and suitable tenant for your property rather than just accepting the first application. As there can be market variances there is no one answer to this question, however we can say that properties that have strong marketing campaigns, are better presented, and are priced according to market conditions, will be rented faster.
What if I need to sell my property?
Although NOW Property Management specialises in the leasing and management of properties we can certainly advise you on this process. Being in the industry we have a good referral network and can easily put you in touch with the best agent to sell your home. Our aim is to get the very best return for your investment so that extends to helping you achieve the best price possible if you do decide to sell.