FAQ's for Residential Rental Providers (RRP)
A. Synonymous with Buyers Advocate’s commitment to excellence in buying real estate, our Property Management division is no less devoted to providing expert management services and advice to RRPs & Renters.
Management is a lot more involved than you may initially think. At Buyer’s Advocate, our Property Managers have been in the industry doing Property Management for over 15 years. Our staff undertake regular training, which allows us to provide sound and professional advice on your rights as a Rental Provider and the legal obligations governing RRPs and Renters alike.
This means you are assured of the highest standards of professional ethics, service and accountability.
A. All property owners should avail themselves of any insurance that provides them with protection from unexpected situations that may arise. Most owners are aware of insurances such as building, contents and public liability, however all RRPs can also protect themselves against loss of rent and Renter related damage. All RRP insurance is tax deductible and readily available. Please see our Insurance Section for more information.
A. Generally, we say to allow approximately 4 weeks to lease your property. This is because most prospective Renters if currently renting, are required to give 28 days notice when vacating their current property and most prefer to do this once they have found another property. Other factors that affect the leasing process are; the level of demand relative to supply, varying market conditions depending on the characteristics, condition, type and location of the property.
FAQ’s for Renters
A. All Renters must have insurance that covers their belongings at the rental property. A RRPs building and contents insurance will not cover a Renters personal belongings, even if the damage is caused by a situation within the property such as a roof leak.
A. After your lease has expired and you wish to vacate, the Residential Tenancies Act states that 28 days notice, in writing must be given and rent must be paid to the end of the tenancy. If you are wanting to vacate at the end date of your lease, 28 days prior to this date you must give written notice to your property manager.
Your rent is due until notice has expired or keys are returned, whichever is the later. If you wish to break your lease, you will be required to pay rent up to the day a new tenancy starts and reimburse the RRP the pro-rata amount of the letting fee charged and any advertising costs incurred.
A. The RRP has approved your tenancy and the tenancy agreement is in your name. You are responsible for meeting all of the requirements and conditions of the lease, unless it is assigned to another person(s) or cancelled by mutual consent.
If a new Renter is to replace an existing Renter, a new application must be completed by the proposed Renter and approved by the RRP before any change can occur.
A. If you lock yourself out of your property and have no other access, please advise our office by phone on 9818 4499 during business hours. If we have spare keys, you may collect these by producing photo ID. If you require your spare key after hours refer to the urgent maintenance form for Locksmith details.
Please see the link from Consumer Affairs Victoria regarding each parties responsibility on this.
