RENTING - Renting Information

Property Management Rentals

The property management department at Garry Nash First National abide by the regulations set out by the Real Estate Institute of Victoria and the Residential Tenancies Act.  Our team is committed to providing you with the most professional service in the management of your investment property.  Property Management procedures are documented and reviewed annually to ensure they are kept current and reflect best practices.

CONFIDENTIALITY:  All rental files handled by this office are managed with the utmost care and confidentiality.  Owners are consulted on a regular basis should there be any areas for discussion or concern regarding your property.

LEASE REQUIREMENTS:  Prior to preparing a tenancy agreement on the property, we first discuss your needs, e.g. lease term, appropriate rental figure, tenancy requirements and prepare an agreement that best suits you- the owner.

TENANCY SELECTION:  Tenant selection is given the highest priority by our office.  A bond equal to four weeks rent is paid by the tenant at the time of commencement of the lease and this bond is held as security on the property.  All tenants are screened and references checked carefully to ensure the best match for your property.

RENTAL COLLECTION:  Our office can arrange for rental collection (less our fees), to be deposited direct to your bank or building society as nominated.  Tenant payments can be made by cash, cheque, or direct debit.

MANAGEMENT STATEMENTS:  Management statements are forwarded to you detailing all income and outgoings.  Where a charge for maintenance has been made an invoice detailing all expenditure will be attached to your statement.  Annual statements will be prepared at the end of the financial year.

SERVICES PROVIDED:  In brief, the tasks normally undertaken by us as agents for the owner include:                                                                                                       

  • Selection of tenants and preperation of tenancy agreements.
  • Receipt of rents and dispersal of monies to owners in a timely and efficient manner.
  • Exercising owners' right to terminate tenancies if required.
  • Re-letting the property at the end of each tenancy.  Our aim is to avoid vacancy periods and minimise loss of rent.
  • Arranging all required maintenance of the premises and following through to ensure maintenance is carried out in a professional and satisfactory manner.
  • Computerised statements and cheques.
  • Annual financial statements.

 




Know your rights as a tenant

Before deciding to rent a property there are a few rules and regulations that you need to take into consideration. A Residential Tenancy Agreement or ‘lease’ will be drawn up and is the legal contract that both you and your landlord must abide by. A lease should include information such as;

  • Location of the property
  • Total rent
  • Amount of the bond
  • Commencement and end date of your tenancy
  • The landlords’ name
Lease/tenancy agreements differ between states, so please make sure you have the documentation from your appropriate state.

Never sign a blank form, if you do not understand something, then contact the correct establishments and ask for advice.



Know your responsibilities when renting

When renting, little problems can turn into big problems if you are not aware of who is responsible for taking care of the issues that may arise.

As a tenant you are obliged to do the following:

  • Keep the property clean
  • Not cause damage to the premises
  • Inform the landlord ASAP if any damage is done
  • Ask for the landlords permission to install fixtures or make alterations, renovations etc
  • Avoid causing a nuisance to the landlord or neighbours
  • Do not initiate or participate in any illegal activities on the property

The landlord is obliged to:

  • Keep the premises in good repair
  • Ensure the security of the property by making sure all doors have locks and windows are secure
  • Immediately provide the tenant with a key after changing any locks
  • Avoid disturbing the tenant unnecessarily

Once you have signed a lease / tenancy agreement and paid a bond you should be provided with a Condition Report. This report records the condition of the property. Check this report carefully and immediately discuss any issues you may have with the landlord.

Photographs are a great way to record the condition of the property when you first move in. Keep these in case the landlord objects about returning your bond at the end of your tenancy.