Rent

Owner Information

Welcome to Property Management at Ray White Elizabeth Bay. We pride ourselves on providing outstanding service both to landlords and tenants. If you would like us to provide a free rental appraisal of your property, please contact us via the online form on the left. The following outlines contact details and the reasons why you should choose our team to manage your property.

Location

40 Macleay Street,
Potts Point,
NSW, 2011
p (02) 9331 9600
f (02) 9331 9633
e elizabethbay.nsw@raywhite.com

Office Hours

Monday to Friday 8.30am — 5.30pm
Saturday 8.30am- 4.00pm
Sunday: Closed

Finding A Suitable Tenant

Ray White Elizabeth Bay is ideally placed to efficiently source a suitable tenant for your investment property. Our proven strategies to find the right tenant include the following initiatives:

  • Local Rental Guide – Emailed regularly to our tenant database. The rental guide is also available for collection at the front of our office.
  • Ray White Elizabeth Bay tenant database – An up-to-date register of available tenants.
  • The Internet – Rental properties are listed on www.domain.com.au and www.realestate.com.au. They are also regularly update on our website, www.raywhiteelizabethbay.com.au
  • Ray White Sign Boards
  • Open for inspections (Saturday and midweek as required)
  • Our Window Displays.
  • The Ray White Network
  • Relocation Agents – we work with relocation agents to match quality tenants with suitable properties.

Tenant Selection

Ray White Elizabeth Bay employs a thorough screening process to ensure the best possible tenant is found for your property. All applicants must complete a detailed form outlining their past and present tenancy and employment. Business and personal references are also checked carefully. If these checks reveal no problems, our office will contact you to discuss the application, with you making the final choice on tenant.

Landlord Communication

Good communication is vital for the success of any long-standing relationship. Our team is committed to developing an open and honest dialogue with all clients. Be assured you will be kept informed of all matters relating to your property. Our aim is for you to relax and trust us to handle the rest.

Lease Agreement

Once the prospective tenant has been screened and you have given final approval, our team will handle the “signing up” process. To ensure your legal rights as a landlord are protected, the tenant will be asked to sign the Residential Tenancy Agreement and to pay a bond which is held by the NSW Department of Fair Trading as security for the landlord against any damage or undue wear and tear to the property. Once the tenant vacates, the bond is refunded, provided the property is left in a fit state — allowing for a reasonable amount of wear and tear — and rent is up to date.

Inspections

Inspections are carried out at various times to ensure tenants are meeting the terms of their lease and to identify any repairs or potential maintenance issues that may arise.

Landlords are welcome to attend any inspections they wish.

An initial inspection is carried out before the lease is signed. If requested, photographic and video records of the property may also be taken at this point. A thorough report is prepared — detailing in full the condition of the property – which is used as a checklist when the tenant vacates.

Regular inspections are held to check on the condition of your property and updated reports are kept as a record. Should any issues arise from these inspections, be assured our team will contact you immediately.

While every investor dreams of keeping good tenants forever, the reality is, most tenants eventually do move on. Should your tenant give notice, we arrange an inspection to review the property in full. Is the rent still in keeping with local values? Are any repairs needed and would some minor renovations help achieve an increase in rental income? Before your tenant vacates, a final inspection is carried out to determine if any funds are needed from the Rental Bond to cover repairs.

Collecting Rent

Ray White Elizabeth Bay has made it so easy, tenants should have no excuse for falling behind with rental payments. There are several options:

  • All our tenants are offered various methods of payment including electronic payment facilities.
  • Payments may also be made at our office by using a cheque or money order. For obvious safety reasons, cash is not accepted.

Arrears Follow-Up

Tenants in arrears are contacted by our team as often as necessary and are also sent reminder and warning letters.

Maintenance And Repairs

Ray White Elizabeth Bay places a high priority on maintenance and repairs, referring problems to a trusted and skilled group of tradespeople who look after all properties managed by our company. Tenants who encounter problems contact our property management team by telephone if the matter is urgent. If not, they are asked to email details of the problem or to complete the on-line maintenance and repairs request form. It is our policy that owners are contacted and authorisation obtained before work is carried out – other than emergency repairs as outlined in the Residential Tenancies Act. Our team then contact the appropriate tradesperson and co-ordinate a convenient time to gain access to the property to carry out the repair or maintenance work. If you would prefer your own tradesperson to handle the job, just let our team know and they can make the appropriate arrangements. In most cases, the cost is simply deducted from the monthly rental income, with all receipts mailed with the rental statement at the end of the month.

Insurance

All landlords should consider their insurance needs including Landlords Insurance. All landlords should consider their insurance needs including Landlords Insurance. For more information, speak with out property management team.

Rental Reviews

Rents are reviewed regularly, with several factors taken into consideration including any change in the property itself and market conditions. Tenants must be issued with the appropriate notice for any rental increase.

Landlord Services— A Summary

  • Rent collection
  • Direct banking of rental income
  • Payment of regular property expenses such as water and council rates, body corporate fees and insurances.
  • Payment of repairs and maintenance invoices.
  • Monthly rental statement detailing income and expenses.
  • Annual financial statement for tax purposes.
  • Preparation of lease documentation ensuring all legal requirements are met
  • Management of any maintenance issues — including obtaining quotes from reliable trades people.
  • Arrangement of any repairs, organising minor renovations or refurbishment.
  • Advice on property improvements to maximise returns.
  • Attending the Consumer Trader and Tenancy Tribunal if required.
  • Advice on purchasing additional investment properties/investment advise.
  • Insurance placement and claims.
  • Preparation of reports to assist with GST reporting.
  • Basic information maximising deductions on taxation.
  • Serving notices on behalf of landlords as required including rental increases and for termination of tenancies.