• We achieve higher rents
• Consistency of experienced PM contact
• Tenant selection
• Life Experiences
• Care factor
• Team mentality
• Trades
• Admin support
• Regulations knowledge
• Detailed Condition Reports and Routines
• We take care of our staff
• Boutique rent roll with focus on customer service
• We’re always available
• We answer our phones
• We do what we say we’re going to do
• We manage maintenance thoroughly – Triage
• Continual training
• Photography/Marketing
• Communication throughout campaign
• Open for Inspections

Landlord Insurance is to cover the rental income that your property earns, the contents of the property (carpets, blinds, underlays, light fittings and any other household items owned by you for the tenants use), public liability, malicious and accidental damage, pet damage and theft.

Building insurance is designed to protect the structure, fittings and fixtures of the building. If a tenant was cooking and accidentally set fire to your kitchen, you would be covered by your building policy. Building Insurance also covers standard perils such as storm, fire and impact damage.

This depends on the type of property you are going to be renting out.

If your rental property is a house, you need Building Insurance and Landlord Insurance.

If your rental property is a unit within a complex and within an Owners Corporation (also known as a Body Corporate or Strata) you need Landlord insurance. The Owners Corporation already have insurance cover for the building.

If your rental property is a townhouse you need Landlord insurance AND maybe Building Insurance – you will need to check and see if there is an active Owners Corporation that insures the complex. Most 2 lot subdivisions will not have an active Owners Corporation and therefore you will need both Building and Landlord Insurance.

As you may be aware, there were more than 130 changes introduced to the Residential Tenancies Act and the Regulations from the 29th of March 2021. Some of these changes are very minor but some are not, and we want to inform you of the most important ones that might affect your property.

SAFETY CHECKS

Safety Checks need to be conducted on all properties since the 29th of March 2021. These checks are mandatory on all rental properties. Safety checks include an electrical safety check, a gas safety check and smoke alarm safety check.

MINIMUM STANDARDS

Minimum Standards have also been required to comply with every property across Victoria since the 29th of March 2021, unless they have a date in the future such as electrical, heating and blinds (see below). The trigger for these to take place is the same as gas/electrical/smoke alarm safety checks; if we lease the property after 29th March 2021 or if a tenancy renewal is signed after this date.

DISCLOSURE STATEMENTS

Before signing a rental agreement, you must disclose certain information about the property to the renter. This will apply to all new agreements signed after the 29th March 2021. You will need to have gathered this information and disclosed it before they sign an agreement. RESIDE REAL ESTATE will not be able to sign the disclosure statement on your behalf.

There are two main types of repairs outlined by Under the Residential Tenancies Act 1997, urgent and non-urgent.

Urgent repairs: a burst water service, toilet system, serious roof leak, gas leak, dangerous electrical fault, serious flooding, storm/fire damage, failure of essential service/appliance failure of gas/water/electricity, fault causing unsafe premises, fault causing substantial water loss or a lift/staircase fault. Urgent repairs must be repaired within 48 hours.

Non urgent repairs: do not fall into the above list and can be fixed within 14 days of an agent/owner being notified.

The rental provider must organise and pay for all repairs if they are not the renter’s fault. If the renter caused the damage, the renter may have to pay for the repairs. Renters must tell their rental provider or property manager about any repairs that need to be made as soon as possible.

Once a tenant takes possession of the property, routine inspections are carried out on a regular basis by your Reside Property Manager. These inspections are crucial for ensuring that your property is being properly maintained and to identify any necessary repairs or maintenance. After each inspection, you will receive a copy of the routine inspection report, and if needed, we will reach out to discuss any items mentioned in the report. Our goal is to keep you informed about the condition of your property and address any concerns that may arise.

Our selection process ensures that all potential tenants are carefully evaluated and must meet specific criteria. Their application for a property is assessed based on their previous rental history, employment or income verification, and character references.

To ensure a thorough evaluation, we only process applications from tenants who have personally viewed the property or have had someone view it on their behalf. While the final decision for approval rests with the rental provider, we provide our opinion based on our previous experience.

By following this process, we aim to select reliable and suitable tenants who meet the necessary qualifications and have demonstrated a genuine interest in the property.

Establishing the appropriate market rent is crucial to securing a tenant for your property promptly. To maximize your rental income, we take into account the following factors:

1. Market demand: We assess the market demand, taking into consideration seasonal variations and any other factors that may influence rental demand. By understanding the market dynamics, we can determine an optimal rental rate for your property.

2. Stock availability: We analyse the availability of other rental properties in the market, considering their location and features in comparison to your property. This comparative analysis allows us to calculate a competitive and attractive maximum rent for your property, ensuring it stands out among the available options.

3. Comparison to other rentals: We evaluate how your property compares to other homes we have previously rented for our clients. By leveraging our experience, we can assess the rental rates achieved for similar properties in the past and use this information to determine an appropriate rent for your property.

By carefully considering these factors, we aim to set the correct market rent for your property, maximizing its rental potential and ensuring it remains competitive in the market.

At Reside, we prioritize addressing rent arrears in a diligent manner. We have implemented a rigorous arrears process that our property managers strictly follow to expedite the collection of outstanding payments. Effective communication channels, including phone calls, emails, SMS messages, and mail, are utilized to promptly inform the tenant about the issue and request immediate resolution of the arrears.

Rest assured that your property manager will notify you as soon as your tenant falls into arrears and will engage in a discussion with you regarding the subsequent action plan. Our goal is to ensure transparency and effective collaboration throughout the process of addressing rent arrears.

Certainly! We not only can but also highly recommend handling other bills related to your property. This includes expenses such as rates, water bills, insurances, and levies. You have the option to direct these bills to us for payment, which offers several advantages.

By allowing us to manage these expenses, you benefit from maintaining comprehensive and organized records of all relevant property-related costs. Additionally, you will receive a copy of each paid account attached to your electronic statement for easy reference.

At the end of each financial year, all expenses paid on your behalf will be included in your summary statement. This simplifies the tax reporting process, making it more convenient for you during tax time.

We encourage you to take advantage of this service as it streamlines your property-related financial management and ensures efficient record-keeping.