Investor FAQS
We are proud to have been awarded the 2019 REIWA Medium Agency of the Year Award, 2019 − RateMyAgent Agency of the Year for Como and South Perth, 2017 REIWA Medium Agency of the Year Award, 2013 REIWA Top Large Agency of the Year together with our Principal, Alan Bourke winning the prestigious 2015 “Kevin Sullivan Award” for services to the Real Estate industry.
We receipt the Tenants rent throughout the Month and pay all funds to owners on the last day of each month. From these funds we will pay whatever disbursements you have instructed us to pay eg Shire Rates / Strata Levies etc
These are inspections, by the Property Managers, of a property detailing its presentation once a tenant has moved in.
Property Managers inspect 6 weeks after occupancy and then 3 monthly thereafter. If a Tenant has been residing there long term, inspection times can be extended to save money.
This is a fee to the Agent to attract a suitable tenant to Let/occupy your investment. This fee covers Home Opens, Private Viewings, completing the Reference and Credit checks on them to verify they are suitable Tenants (this is equivalent to 2 weeks rent plus GST)
If you need to move back into your property and there is a Monthly or Periodical Tenancy in place you can give the Tenant a 60 day Notice to Vacate. They in turn might find a home quicker and advise you in writing they will vacate in 21 days. Otherwise you have to wait 60 days.
If a Tenant has a fixed lease then you can’t evict them unless they are not paying the rent or they are damaging the property. In that case you need to serve written notice to remedy this breach of the Tenancy Agreement. If they fail to do so you must seek an order through the Magistrates Court Residential to gain vacant possession.
This is a major concern for any investor, though in reality a very rare occurrence. If this were to happen we take the tenant to the Magistrates Court. Their bond of 4 weeks rent is used to make good. If there is extra costs this is paid by the Tenant via Court Order. If it can’t be collected by the Tenant, it is paid by your Landlord Protection Insurance. This is why we recommend Landlord Protection Insurance.
A basic obligation of a tenant is to pay rent. If rent is not paid by an agreed date, the tenant is in breach of the lease and the owner or property manager can seek to end the tenancy.
The tenancy may be ended through two alternatives.
Firstly, not less than one day after the rent should have been paid, the owner may issue a Breach Notice or Non Payment of Rent Form. This notice requires the tenant to pay all outstanding rent within 14 days.
If after 14 days the rent remains unpaid, the owner may issue a Notice of Termination for Non Payment of Rent. This notice seeks to terminate the tenancy agreement and requires the tenant to leave the property within seven days.
Secondly, not less than one day after the rent should have been paid, the owner may issue a Notice of Termination for Non-Payment of Rent. The notice warns the tenant that unless the outstanding rent is paid within the next seven days, the owner or property manager may apply to the court for an order to terminate the tenancy agreement.
If sending the notice by post, it is advisable for owners to add six on top of the mandated 14 and seven day periods to allow for postage delivery. Tenants can reasonably expect this courtesy also.
There are no Squatters Rights in WA. If the Tenant refuses to pay the rent then there are Court remedies (see above)
If the person in the property has no lease then it becomes a Police matter, ie breaking & entering without consent & they are removed.
If the Tenant has a lease or even a Periodical lease then a sale doesn’t cancel a lease. The sale must be made subject to the tenancy, ie the buyer inherits the tenant.
If there is a Monthly/Periodic tenancy then there are two notice periods to a tenant to vacate.
60 days – to terminate without a reason
30 days – if an offer has been accepted on the home
(Consult your Property Advisor on these matters)
The tenant can be breached for presentation/cleanliness and if they don’t comply then a Court Order through the Magistrates Court can see them evicted. An application to the Magistrates court will solve the following problems:
- More Tenants in the house than on the lease
- Killing the lawn
- Damaging the property etc