Frequently Asked Questions
How long will it take to lease my property?
At True, our average time to lease your property varies depending on market conditions, however in recent months it has averaged less than 14 days. We begin marketing your property the day it becomes available to rent and unlike many other real estate companies, we have a team of specialised leasing consultants focused solely on finding you a qualified tenant in the quickest possible time.
When you find an applicant for my property, how do you qualify them?
We strive to provide you with the calibre of tenants that you want in your rental property. This includes:
- An interview with one of our highly experienced senior property managers
- A 100 point identification check
- A detailed tenancy database search
- Verification from their current/former landlords/agents
- Verification of their employment
- Verification that they can afford the rent and all other monies payable under the tenancy agreement.
In addition to the normal financial qualifications, we always try to accommodate the housing needs of our tenants to ensure the property they rent is convenient to their work, shopping and desired school district. This will help to ensure that they will be happy tenants and remain longer in your rental property. Unless you instruct otherwise, all tenancy applicants, once interviewed and reference checked by us, will be presented to you for approval before any tenancy documentation is entered into.
How quickly do you process the rent statements to property owners?
We pride ourselves on quick processing of rent statements. We close off our monthly accounts on the 30th of every month. Rent Statements will be posted or emailed to you on the next working day. Unless you instruct otherwise, your rent monies will be deposited into your bank account by electronic funds transfer (EFT) on the next working day after our monthly close off date. We can also arrange a mid-month payment on the 15th of each month should you request it.
How often, and how are property inspections conducted?
When your property is vacant, we inspect it at least once a week. During a tenants occupancy, we carry out routine inspections every 12 months (additional inspections can be carried out upon request, at an additional fee).
To view a sample routine inspection report click here.
When the tenants give notice of their intention to vacate the property we carry out a short pre-vacating inspection of the property to:
- ensure the tenant gives the property back in the same condition they received it (fair wear and tear excepted)
- ascertain if any essential work is required to make the property ready for re-letting.
When the tenants vacate your property we carry out a detailed outgoing inspection. The inspection is done to ensure that the tenants return the property back to us in an acceptable condition. If damage is found or cleaning is necessary, we make the necessary deductions from the tenants rental bond.
What if I want to sell my property, can True Management help?
Yes, our sister Company is True Real Estate Sales www.truerealestate.com.au. For information on how we can help you sell your property, call or email us.
Should I take out landlord protection insurance?
Landlord protection insurance is very important, so we would recommend you have it.
It can cover unforeseen circumstances like:
- Accidental damage or breakage
- Malicious damage or vandalism caused by tenants
- Deliberate or intentional damage caused by tenants
- Public Liability
- Loss of rental income
- Rent default and theft by tenants.
We can refer you to specialist landlord protection insurance companies with excellent cover and premiums. Please contact your senior property manager for further information.
How are rental collections handled?
Our rent collection policies are as follows:
- All rents are due either monthly or fortnightly in advance
- The vast majority of our tenants are on a DIRECT DEBIT from their bank accounts for rent payments
- If your tenant is 5 days late with their rent, they are personally phoned, faxed, emailed or sent a text message
- Tenants who are 10 days late with their rent are personally phoned or visited by a senior property manager
- If the outstanding rent has not then been paid within 2 days, we will contact you to advise you of the situation and to seek your instructions regarding possible termination of the tenancy
- Once the tenant is 15 days late with the rent, subject to your instructions, we serve the tenant with a Termination Notice requiring the tenant to vacate the property within 14 days.
Do you provide me with an End of Financial Year Statement for my income tax return?
Yes. We can either provide you with a paper based Statement at the end of June each year, or you can access an electronic copy at any time via a secure login to the True website.
Can you pay my Water Rates, Council Rates and Strata Levies for me?
Yes, just advise your True representative know in writing and we can do the rest.
Do I need to redirect my mail?
Yes, tenants cannot always be relied upon to forward your mail to you or to us. So, we recommend that you arrange a suitable mail redirection service with Australia Post.
Can I use my own tradespeople to carry out repairs at the property?
Certainly. However, it is important to ensure that anyone who carries out work at your property is appropriately licensed and insured. True has a large pool of tradespeople on its books that can carry out repair work in a timely fashion, and with our bulk buyer power, at very competitive prices.
Are you the cheapest property management business in the area?
Probably not. Because we believe we are the best property management business in Sydney, we employ the best quality people who are focused on providing a level of service unsurpassed in the industry. We have found that charging a discount price means a lower level of service. Therefore, we charge a competitive fee commensurate with the high quality of service we provide to our clients.
Why should I choose True Property Management?
In two words, Experience and Expertise. Our clients know that our people make the difference. Our business is owned and operated by the people who train, mentor and coach other property managers all over Australia and New Zealand, and have done so since 1983. If you have a residential rental property in Sydney, there is no better choice than True Property Management.
To view a short audio visual presentation of the benefits of using True to lease and manage your investment property click here.