Buying an investment property is a big deal. Usually it is exactly that – an investment – so it is vitally important to ensure that the property is well maintained and looked after by any tenants that make it their home – short or long term.
Doepels has been managing properties in the Ballarat market for decades. We follow a professional and effective process that gives our landlords with an assurance that protecting their investment is our priority.
If you are thinking of investing in property and are wondering about the process of a Doepels property manager, the below explains a little of the process we follow to list and tenant your property.
- As soon as all the necessary paperwork is signed, marketing of the property will start. We will check our records for prospective tenants and contact them to advise that your property is available. The property will be listed on our website, signage is erected and ads prepared for our online platforms and print.
- Once your property has been viewed, any prospective tenants are asked to complete a comprehensive application form. The application asks for current and/or previous rental history, employment as well as other personal details. From here we contact you, outlining the details of the applications, our impressions and make recommendation for your final decision.
- Your property will be managed by one of our professional Property Management experts. Your property manager will ensure that all aspects of leasing and management of your property are covered including finding a suitable tenant, handling maintenance issues and ensuring that tenancy agreements are adhered to.
- All leases for your property are then prepared per your instruction.
- Tenants will be required to agree to their rent being paid via a debit facility before the commencement of their tenancy. In some circumstances we will accept rent over the counter – but only by special arrangement.
- Doepel Lilley & Taylor will direct credit the payment to you either weekly, bi-monthly or on a monthly basis, as outlined in our agreement with you.
- Our property managers check on arrears regularly and once a tenant is in arrears, then our property managers follow a rigorous process to ensure their account is brought back into line with their rental agreement.
- When a tenancy is confirmed, the equivalent to a calendar month’s rent is taken as bond and is held with the Residential Tenancies Bond Authority (RTBA). Estate agents are required to lodge all residential bonds received with the RTBA within five days of receipt. A minimum of two weeks rent in advance is also taken at this time. Keys to your property are not handed over until the bond and rent have been paid. At the end of the tenancy, the bond is only be released to the tenant or landlord by both parties signing a bond claim form. These signatures are matched up against those on the bond lodgement form at the commencement of the tenancy.
- A comprehensive condition report is completed before the tenants move in. This lists the current condition of your property at the time of letting. If there is damage to the property or the condition of the property does not match the initial report, monies can only be deducted from the bond if the tenant agrees. If there is a dispute between a landlord and tenant, an appropriate application needs to be made to VCAT within 14 days of the tenant vacating the premises. A member of VCAT will hear the case and make a binding decision based on the evidence presented.
We encourage a landlord and tenant to resolve any disputes as applying to VCAT is a last resort.
If you have any more questions about our property managers looking after your property, contact us on 5331 2000.