Real insights to assist your property knowledge
- Show all categories
- Property Investment & Management
- Selling Your Home
- Market Updates
- Buying a Home
- Renovating & Presentation
- Consumer Advice
- RealWay Community
- Agent News
- Property Investment
- RealWay Home
- Living Discussions
- Smoke Alarms
- Topics of Interest
- Property Maintenance
- Renting
- Renovating
- Research
- Buying
- Management
- Selling
- Tips
Nov 3, 2023
How to impress your future landlord
Being a responsible tenant not only enhances your reputation as a long-term renter, but also increases your chances of being highly valued by landlords or rental providers. A role model tenant (one that impresses) pays their rent on time, respects their neighbours, takes care of the property, and minimizes maintenance costs. What makes you the best among the rest? To secure a desirable and long-lasting tenancy agreement, it is important to impress landlords or rental providers by exhibiting certain qualities. Rental providers aim to protect their property and increase their investment potential, so the best tenants are reliable, financially secure, and respectful of their rental property rights and obligations. Reputable tenants with good references and rental history also demonstrate character and trustworthiness. Being a responsible tenant involves adhering to both written and unspoken rules regarding the property and surroundings, such as reducing noise levels during socially responsible times. Respectful tenants show innate respect for their landlord, fellow housemates, and neighbours, which creates a positive word-of-mouth reputation. This can increase your chances of being chosen for your next potential rental, house purchase, or even job opportunities. Your icing on the cake Top off the above qualities with truthfulness and anticipation. Anticipation involves open communication via appropriate channels with the landlord, especially for domestic situations such as leaky taps or faulty WC, loose cupboard doors, or damage to walls or tiles. By reporting these issues promptly, you can help prevent further damage and endear yourself to your rental provider. Honesty is also a crucial quality of a desirable tenant. Tenants should promptly report any accidents or incidents committed by household members, including pets. For pet agreements, which vary from state to state and property to property, full disclosure and ensuring that the pet adheres to tenancy rules and agreements can endear you to your rental provider. If you have any specific queries about the requirements for a property or your rules and rights as a renter or rental provider, get in touch with our team.
Aug 4, 2023
Rental application: Tips for nailing it
To stand out among the competition and secure your dream rental property, it’s important to have an organised and fully complete rental application. Here are some tips to make your application process more efficient and effective so you’re ready for your next rental property inspection. Be organised with your paperwork Start by getting all your documents in order before attending any property inspections. This includes bank statements, employment letters, and references. Notify your references in advance that they may be contacted. Being organised beforehand saves time and prevents someone else from getting the property you want. Be thorough in filling out the rental application Fill in your rental application thoroughly and correctly. Ensure that all the information you provide is accurate and detailed, especially about your employment, to show rental providers and property managers that you are financially stable. This makes the sorting process easier and increases your chances of your application being considered. Be personal by including a cover letter Include a cover letter to add a personal touch to your application. Use this opportunity to explain why you would be the ideal person to live in the property. Additionally, when inspecting a property, introduce yourself to the agent to establish a personal connection and gain useful insights. Finding out the answer to the questions you might have will help with your future application. Be prompt and submit your application ASAP Apply for a property as soon as possible once you’ve found the one you like. Waiting too long can result in losing the property to other applicants. Ensure that your finances are in order, and inform your current rental provider of your intention to move out as soon as possible. Be smart and start searching off-peak season Generally, January tends to be a very busy time for people searching for rental properties. Competition is high so take advantage of the off-season to find a property. Instead of waiting for the peak rental seasons, start searching as soon as you’re ready. This can help you avoid the competition and secure a better deal. For instance, if you want to rent near the beach, start searching before the warmer months. Final words Being proactive and getting ahead of the game with your rental property search and application can improve your chances of success. To increase your chances even more, get in touch with our property management team and find out how you can quickly and easily apply for your next rental property. Smart Renting: Key Budgeting Areas to Think About
Apr 14, 2023
Tips to getting your bond back at the end of your lease
One of the areas that can cause challenges when renting is the end of the tenancy. It can be a stressful time searching for a new home, packing, moving and then needing to clean and repair any damage to the property you are vacating. There are a few things that you can do to ensure that you are on track to getting your bond back and finalising the tenancy so that you can move on to your new home with minimal fuss. Check the copy of your ingoing report Prior to handing back the keys to the property, check the ingoing report for the condition when you commenced the tenancy. If you have misplaced your copy of the report, contact the property management team and have a copy emailed. Walk through each room of the property and make a list of any areas that might need attention. It may be chips or marks to paintwork, stains to carpet or damage to other areas of the property. If there is damage that needs to be repaired, qualified trades can carry out the work and repairing these items prior to vacate or communicating this with your property manager can help with being prepared and addressing any concerns. Carry out a vacate clean also (known as a bond clean) A vacate clean can be quite different to a regular weekly clean and requires more deep cleaning of areas that may not get attention week to week. Some common areas that are often missed are range hoods, light fittings, ceiling fans, curtains and blinds, windows, and door tracks. If you choose to do the cleaning, work through room by room to ensure that nothing is missed. Alternatively, to save time you may choose to hire a professional cleaner. Hiring trades during the vacate can mean that you have more time to focus on moving into your new home without the stress of knowing that you still need to clean the property you are vacating. If you hire a professional to do your bond clean, you can provide the property manager with a copy of the receipt. People who specialise in bond cleans will know every detail that needs to be cleaned. If you are doing the bond clean yourself and have any questions about the standard that needs to be achieved, a quick call to your property manager may save you needing to retrace your steps. Pay any outstanding rent and bills Check with your property manager prior to vacating for any outstanding rent and bills like water usage. If you are breaking your lease, there may also be penalty fees that apply, and these can be paid in advance rather than have them taken out of your bond. Lastly, make sure that you return all the keys on time on the day of the vacate so that you aren’t liable for any extra costs for rent. Refer to a copy of the keys that you were provided at the start of the tenancy to make sure that you are returning all keys to the property. If you would like further tips or a guide during the vacate to getting your bond back fast, contact our property management team who are happy to help. First time renting? Tips and planning techniques.
Apr 6, 2023
Smart Renting: Key Budgeting Areas to Think About
When starting your search for your next rental property, it is essential to keep in mind the associated expenses and budget accordingly, both for moving and ongoing expenses. Be smart about your rental payment and bond To begin with, you should factor in the rental payment and bond. Property managers will evaluate your income and affordability before accepting your rental application. Generally, your gross income should be within 30-35% of the weekly rent. You should use this as a benchmark to ensure that you stay within your budget and do not exceed your financial limits. Additionally, you will have to pay a bond equivalent to four weeks’ rent to the bond authority before you can move in. This payment should be considered when considering your ideal rental property. Be smart about relocation costs Moving expenses such as hiring removalists and cleaners should also be taken into account. Contacting multiple removalists for a quote can help with planning and avoiding any unexpected expenses. Moving costs can quickly add up, so it’s always better to be prepared. Professional cleaners, carpet cleaners, and tradespeople can also be employed to reduce the stress of moving out and expedite the return of your bond. Be smart about consumption costs Apart from moving costs, you should also budget for ongoing expenses, such as electiricy, gas and water usage. Though it may be difficult to budget for these expenses initially, you can use the costs from your previous home or ask energy companies for an estimate based on the property’s size and occupants. After the first month or quarter, you’ll have a clearer idea of what to expect. Additionally, clarifying with the Property Manager or Owner whether electricity, gas, or water is included in the rental price is crucial to avoid confusion and ensure that you understand your obligations. Think about your internet connection Connecting to the internet is another expense you should consider. After moving in, you may want to set up an internet connection. The NBN Co website can help you determine the type of connection available at the property, and you can then research plans from various providers to find the best option for you. Be mindful of insurance Finally, it’s important to note that while the owner may have insurance for the building, your belongings are not covered under their policy. You should look into renter insurance, which is an affordable way to protect your belongings from any incidents or accidents that may occur during your tenancy. Many companies offer renter insurance, so you can compare and find the best option for you. Our office can get you in contact with our preferred providers, so make sure you ask how we can help you when you’re looking for your next rental property.
Mar 27, 2023
Reasons to contact your property manager
Whether you are a seasoned renter or new to renting, you may not always be aware of the reasons or when you should contact your property manager about your tenancy or the property. For the most part, you won’t need to contact your agent on many occasions and when you do need to, they will usually have a process in place for how to contact them and time frames around responses. Some of the reasons that you may need to contact your property manager may include the following. Repairs and maintenance During the course of your tenancy, there will be repairs and maintenance that may be needed at the property. This may be anything from a leaking tap to an oven element not working or a burst hot water system. The urgency and time frame required will depend on the type of repair that needs to be completed and its use. As an example, a burst hot water system or flexi hose under the sink requires urgent repair, while a loose door handle is non-urgent. All repairs must be reported in writing and at the start of your tenancy, you will be provided with information on how to report the repair either through a portal or via email to your property manager. You will then be able to easily follow up on the progress online. Alterations to the property There are legislative requirements around what alterations can be carried out to a property and before you begin installing tv brackets or painting walls, it is important that you contact your property manager to be aware of your obligations as a renter. If permission is required, they will ask you to put in writing your plans for minor alterations and seek authority from the Owner. This will ensure that both the Owner and you are compliant with the required legislation. If you do make alterations, be aware that you are responsible for any repairs needed when you vacate the property if damage occurs. Vacating the property When you decide to vacate the property, it is important to be aware of the required notice periods and that any notice must be in writing and taken from the day that the property manager receives it. Usually, an email is sufficient for notice to be given and if you are unsure of how much notice you must give, contact our property management team and they can advise the correct notice period. They will then send you confirmation of the notice received as well as information in the lead-up to the vacate including any rent owing and how to get your bond back. What happens if I break my lease?
Dec 21, 2022
Tips to help your rental application
A rental market that has limited availability of properties and a larger number of prospective tenants can create a level of competition that means that you may not be approved for the first or even subsequent rental properties. To combat this, we have put together some tips on what property managers will look for when assessing your application to ensure that you are well-prepared. Have all required documents ready Similar to a job interview, it is important to be prepared to apply for the property in advance of inspecting and putting forward your application. One mistake that applicants can make is not providing all documents with the application which can mean that your application will not be assessed at the same rate as those who have provided all their information. Collate all ID documents, payslips, proof of address and rental history in advance and have it ready to apply and submit as soon as you have inspected the property and determined that you would like to put forward an application. Check your rental history If you have a recent rental ledger, this helps to submit your application as well as the details of your current property manager or landlord. Before you begin the search for a new home, carry out a health check on your rental history including looking at your rental ledger. When assessing your applications, a property manager will look at the rent paid, and the paid-to dates and check for a history of late payments. Even a few days late consistently can impact your rental history and chance of being at the top of the list so it is important to ensure that your rent is paid on time. The property management team will also speak with your current property manager or landlord to check on your rental history and if you have only been in the property for a short period of time, they may check past references to confirm the history. Employment and personal references To help your rental application, before submitting an application, ensure that you have advised your work and personal references that you have put their names forward to provide information on your work or their relationship with you. Your work references will be assessed including the length of time in the role, the income per year to assess rental affordability and information on your employment while personal references may be called for verbal reference. Stand out from the crowd On the day of the inspection, introduce yourself to the property management team, ask any questions that you may have and look through the property thoroughly. Submit your application as soon as the inspection is finalised using the details provided and the team can begin processing your application as soon as they have it. If you have any questions about our available properties or would like to be included in our database to hear about properties before they come to the market, contact our property management team today. Read another quick article with more tips for a successful rental application here.
Oct 27, 2022
What to expect if your landlord sells
It’s not always welcome news when you are advised that the landlord has made the decision to list their property for sale. It may leave you with many questions, including what happens next? The property can be sold at any point, irrespective of what stage of tenancy you are in as the landlord’s situation can change over time. Can the lease be terminated? If you are in a fixed-term agreement for your lease, the landlord cannot terminate you during the period of the lease for a sale of the property. You may however come to a mutual agreement with the landlord if you decide to move out of the property before the sale where they agree for the fixed term agreement to be terminated without penalty. If you do decide to leave after the property has been sold, the fixed-term agreement terms will still stand with the new landlord of the property. Notice for inspections The property manager and sales agent must provide you with written notice of the intention to sell the property and when it will be listed and marketed for sale. The sales agent will also need to provide notice for times in which they would like to hold open for inspections at the property and will discuss the possibility of private inspections with you. Photography and open homes A sales agent will likely discuss with you the option of taking professional photographs of the property and you will need to provide permission for photos to be taken and used in marketing. During the open home process, there is a requirement for a tenant to make reasonable efforts to agree on times to allow prospective buyers through and that the property will be kept in a reasonable state of cleanliness. The sales agent or landlord may offer to help with a cleaner or gardeners and landscapers throughout the sale to ease some of the stress when it comes to expectations through the sales campaign. What happens after the sale When an offer has been accepted or the property has been sold at auction, there may be questions as to what happens next. If you are in a fixed term, the agreement will continue with the new landlord. If you are in a periodic agreement, you may be given the notice to vacate the property for the new owner or they may decide to keep the property as an investor. If you have any questions relating to the sale of the property you are renting, chat with one of our property managers who can walk you through what comes next. For further reading you could have a look at a recent post about the reverse situation - Considering selling a tenanted investment property?
Oct 13, 2022
What happens if I break my lease?
The best-laid plans don’t always go according to the path that you set out on and changes in life circumstances can occur. It may be that you need to downsize or relocate for work or reasons outside your control. If you need to end your tenancy before the lease term is complete you will need to break your lease. It is possible to break your lease should you need to, however, there are requirements and costs that are associated with breaking the contract. What are the fees to break my lease? Depending on which state you are renting in will determine the costs that you may be liable for when breaking your lease. Some of these costs may include: A lease break fee is the equivalent of a week’s rent or more depending on how far you are through your lease agreement. Potential re-letting costs including letting fees and advertising costs Rent until a new tenant is found When is the lease deemed broken? It is mindful of being aware that the lease agreement is not deemed to be broken until you have moved out of the property and handed back the keys to your property manager on vacate. Before this time, it is important to provide your property manager or landlord with the required notice to vacate the property and details of the date that you will be handing back the keys. They will then communicate with you the terms and requirements under the lease break so that you can prepare for your vacate day. Rent is still payable on the property until the date that you hand back the keys and after this time, the relevant lease break costs will come into effect. Do they need to show people through? The agent will usually advertise the property as soon as possible once you provide notice to vacate. They will aim to find a new tenant in the shortest possible time to minimise the costs of a vacant property. It is important to allow access for inspections so that a new tenant can be found, which in some cases can also reduce your costs, depending on the lease break requirements in your state. What happens if the situation is outside my control? There are sometimes extenuating circumstances that are outside your control which may deem a reduction in the lease break costs that you are liable for. Situations that may be unavoidable may include: Death of co-tenant Acceptance of temporary crisis accommodation or a domestic violence situation Acceptance of social or special care housing Experiencing financial hardship Breach of the lease agreement conditions by the landlord If you do feel that you need to break your lease agreement for any reason, reach out to our property management team who can talk you through the obligations and requirements of your tenancy before you provide notice. What is a Residential Tenancy Agreement