We always strive to get you the maximum rent possible; however, we also must keep in mind setting the correct market rent to get your property rented as soon as possible. There are a number of factors that are important to present your property on the market successfully for rent. To do this, we consider these factors; Demand, what is available now, what has recently rented and the property’s current condition.
You may place your property on the market at the rental amount you wish, however keep in mind that it is the market demand that sets the rent, and if the market (prospective tenants looking for a rental property) deem the amount of rent too high your property may stay vacant longer than necessary. With this in mind, be aware your annual rental return will be reduced by 2% for every week it is vacant.
Once we have a signed Management Agreement authorising us to act on your behalf, we list your property in the following forms of advertising:
We ask that the property be presented in the best manner possible to attract the right tenant for your property. We don’t want a bad first impression to detract the right tenant from renting your property.
We always ask that the prospective tenant fill in an application form, signing giving permission for us to check the information provided. We will never discuss an applicant with you without this application form completed prior to contacting you.
If you have a person interested that contacts you, please direct them to our agency on (07) 4011 5077 to fill in the necessary documentation so we can complete all the necessary checks.
With the information provided we confirm their payment and tenancy history by calling their current and/or previous landlord/agent as well as confirming their employment. We check them against a National Tenancy Database (TICA) to see if they have been lodged as a bad tenant by a previous agent. We check personal references and make sure their income is sufficient enough to sustain the rental amount they will be paying each week.
In some cases where an applicant may not have any tenancy history, we try and confirm other information that may give us to show their ability to maintain a tenancy in your rental property; for example a stable employment history with good employment references. In some cases where this is not possible we may will contact you to discuss the best option for you.
Legally we do not have to give a reason and by industry practice we never give a reason.
You do! We will simply give you the information we have collected and by using our experience give you a possible guide as to the tenancy outcome, but at the end of the day it is always your choice!
We can never guarantee any approved tenant for your property. We can only attempt to collect information on their past history and confirm their income arrangements. We monitor them throughout the tenancy as they continue to pay rent and maintain the property to ensure the best outcome. This is a landlord’s risk that comes with allowing someone else to rent your property. We are here to merely lessen that risk by doing all the necessary checks thoroughly and having the professional knowledge on how to handle unforeseen situations when they arise.
The property should be presented ‘reasonably clean’ in accordance with legislative requirements. As a very general rule we ask the tenant to leave the property at the standard they found it. In cases where the property is provided in an extreme level of cleanliness we ask the tenant to leave the property likewise. In the case of a dispute legally we can only enforce that the tenant return the property in a the same condition as they received it minus fair wear and tear, this being their minimum legal obligation.
We go through all of the legal expectations. For example, how they must pay their rent on time, how and where to pay their rent, what we do if they do not pay their rent. We discuss our repairs and maintenance policy, what happens in an emergency repair situation, how often inspections occur and what we look for. We also supply them with two copies of the ingoing condition report (Form 1a), explain how they must check, sign and return one copy of the form within 3 business days. We explain and get them to sign the Bond Lodgment Form (Form 2) and go through any relevant pet agreements. We also hand to them a Residential Tenancies Authority booklet ‘A Guide for Tenants’ that explains their tenancy rights and obligations.
We prepare a Tenancy Agreement covering the details of the tenancy, with terms and conditions. We explain all parts of the agreement to the tenant before we get them to sign it. We will then send you a copy of the tenancy agreement for your records.
After all the forms have been explained and signed, all bond monies and the first payment of rent are received we will then grant them the keys and possession of the property as per their start of lease date.
If pets are permitted, we will always get the tenant to sign the pet agreement. This obligates them in 4 ways;
We obligate the tenant to commit in writing that they will not bring the pet inside. However as we are unable to monitor the property all of the time, we cannot guarantee that the pet will not come inside the property. We do look out for any warning signs whilst at the property conducting inspections and make note to the tenant if any signs are there and can issue them with a breach notice.
There are two types of disbursement options. We will do this as agreed with you on your management agreement (Form 6). We deposit all monies collected into your nominated bank account by the first working day after the last day of each month for your end of month disbursement method.
We collect the rent by the tenant paying into our Business Trust account. This way we monitor the rental payments and know immediately when or if a tenant falls behind. This account also gets audited 3 times annually.
Paying the rent is always a voluntary action on behalf of the tenant. We can never force a tenant to pay their rent however we have clear procedures in place to lessen the chance of a tenant falling behind. This is our rent arrears process;
As you can see, the full legal process can be very drawn out and lengthy. Unfortunately the bond will never cover the shortfall in rent. Only if you have landlord insurance will there be a reasonable prospect of covering the rent payment shortfall, in the case of your tenant defaulting in their rent payments. Without landlord insurance, the chance of recovering owed rent monies is minimal. If you have no protection for your rent payments, the problem is further compounded with the fact that the bond will probably be exhausted with owed rent. You will then most likely have cleaning up and re-letting costs.
Therefore, without landlord insurance, this process can be quite financially damaging.
The rent gets reviewed before every lease renewal, or at other times when required. We will always contact you for your permission before the rent is increased. It will also be done before we need to secure you a new tenant, we will always review the rent against current market conditions as required.
We conduct a comprehensive inspection of your property when a tenant first moves in. We inspect your property area by area (lounge room, bedrooms, kitchen, front and rear yards, garage etc) and then all items present in each area (walls, ceiling, light fittings, curtains, windows, stove etc). We record their condition and cleanliness item by item, and then a brief description and detail about the item. This involves recording details of any marks, scratches and dents etc. We also take photos inside and outside at the property. This document is referred to as the “Entry Condition Report” (Form 1a).
The Residential Tenancies Act states that we can only inspect your property not more than every 4 months for the same reason. The first inspection we are allowed to conduct cannot be within the first 3 months of the tenancy. This inspection is not as detailed as the start of tenancy inspection but is more like a walk through, checking room-by-room the tenant is keeping the property damage-free and reasonably clean. We will also take photos of the property, of any repairs or concerns observed. We are unable to take any photos if the tenant refuses permission for their privacy. We also note any repairs reported or observed by us and any other recommendations needed to assist you in keeping the property in the best condition possible. We will send you a copy of the inspection report. If there are emergency item’s, then we will contact you by phone or email to discuss.
Four times the current weekly rental amount is the industry standard for a bond at the start of any tenancy.
Unfortunately no! We are legally only allowed to take one bond.
Under legislation it is the responsibility of the landlord to keep the property in good repair. This means it is at the landlord’s expense.
Please contact our office number which will provide you with an after hours mobile number and we will be able to assist you with any urgent repairs or maintenance.
General wear and tear that occurs from tenants just living in a property is expected and legislation provides that it be allowed. A few extra marks and scuffs on the walls, some chips and scratches to doors and doorways will occur over time, along with the gradual wear of everything that is in the property. The only time a tenant can be held responsible is if wear and tear is considered ‘excessive’ for the time frame that the tenant has been in possession. For example, a newly painted property with walls severely marked after 2 years resulting in the walls having to be painted again may not be deemed as ‘reasonable’ wear and tear. In a tribunal this type of situation, if proved, could result with the tenant paying for a re paint to be done, minus any depreciation for the age of the paintwork at that point in time when it was repainted again.
If a tenant has caused damage to an item that is not the result of normal break down or wear and tear, this will be charged to the tenant. Normally, a qualified tradesperson would let us know that the repair was normal or if it was influenced or caused by the tenant.
All smoke alarms must comply with Australian Fire & Safety Standards & must be installed in all residential buildings. It is the legal responsibility of owners and landlords to install smoke alarms. In addition, the landlord has a duty of care under common law to provide tenants with safe housing and ensure the smoke alarms are functional. We offer a service provided by Smoke Alarms Solutions to conduct this service for you & issue with all the necessary compliance certificates upon servicing. Therefore, tenants are not legally responsible for the maintenance of smoke alarms.
The Fire and Emergency Services (Domestic Smoke Alarms) Amendment Act 2016 (Qld) commenced on 1 January 2017 and imposes additional obligations on property owners/managers with regards to the installation and maintenance of smoke alarms at domestic dwellings. If the existing smoke alarms were manufactured less than 10 years ago, and are still in good working order, they will comply with the new legislative requirements. Find out more about the new smoke alarm legislation from Queensland Fire and Emergency Services. If you have questions concerning the new smoke alarm legislation, email .
From January 2022
Smoke alarms in all dwellings must:
Smoke alarms must be installed on each storey:
In addition to the above, property managers/owners are currently required to:
Unless otherwise agreed, the tenant is responsible to maintain the lawns and gardens to the standard they were given at the start of the tenancy. If the property is provided with watering systems these need to be working and kept maintained during the tenancy; however any tree over 2 metres high must be maintained by the landlord.
According to legislation it is the landlord’s responsibility to ensure these are done. Of course, we can arrange gardeners on your behalf to do these for you.
You do! We will contact you by letter or email before the lease is due, and seek your instructions if you wish to renew or in fact not renew the lease. Once we have your approval we will then approach the tenant to have the lease renewed.
If you do not wish for the lease to be renewed you are not obligated to give your tenant a reason however 60 days notice is required if you wish to issue a notice to leave (Form 12) for the end of their lease.
When the tenant lets us know they will be vacating they must give a minimum of 14 days notice in writing via the Form 13, we send them detailed information on our expectations of how the property needs to be presented. Once the tenant has fully vacated, we compare the property to the ingoing inspection report completed when the tenant moved into the property. We carefully check through the report item-by-item, ensuring it has been left in the same condition as when they moved in, taking into account reasonable wear and tear for the period of time they have been in the property. This is a legislative requirement.
When a tenant has vacated and the bond is refunded to them this means the following has been completed.
If they wish to vacate the property on a non-fixed term lease or a fixed term lease they are required to give 14 days notice in writing via a Form 13, Of course it is up to us to approach the tenant to seek their intention to either renew the lease or vacate the property as early as we can.
If they break their lease, they may do so with little to no notice, however they are subject to paying rent until a new tenant is secured or to the end of the lease (whichever occurs first). They must also contribute to the letting fee and advertising costs.
Unfortunately we have no control over the tenant breaking their lease early. People’s circumstances change and sometimes they move out earlier than expected. In this case, we will need to charge letting fees and advertising again. However, under legislation we are entitled to charge a tenant for part or the full amount of these costs to be reimbursed back to you, depending on how much of the lease remains when it is broken. We also must take into account the current lease or entire term of leases they may have already served at the property, when calculating monies for reimbursement.
Depending on what has occurred determines largely what action is taken. If the breach is minor, approaching the tenant verbally or in writing maybe appropriate. If it is something serious we will consult with you first to discuss what action to take. Serious breaches of tenancy may involve using the property for illegal purposes or not paying rent etc. We will let you know whether we should serve a termination notice on the tenant first or use more diplomatic means to rectify the breach.
We at no time can guarantee your tenant’s performance at your property and therefore the owner should be insured for such a risk.
Even a good tenancy can turn bad. If the tenant’s circumstances change sometimes the tenancy will become unstable. This can result in rent owing and the property not being maintained. It pays to be properly insured, even with a good tenant.
Landlord insurance will cover loss of rent due to tenant default and malicious damage to the property caused by the tenant. It is important for you to know what your landlord insurance policy will and won’t cover. Please consult with your landlord insurer so that you are fully aware of the extent of your cover and also any excesses that may be applicable in the event of a claim.
Both electricity and gas charges are a tenant expense, however if there are charges relating to the supply of these services to a property, then the supply charges are at a landlord's cost. A good example of this is if a property has bottled gas supplied the tenant pays for the gas in the bottles; however the landlord would be responsible for the charges related to the gas compliance certificate required to supply this service to the premise.
Water consumption charges are the responsibility of the tenant where the property has water efficient compliance and that is separately metered for usage. You are able to charge for partial water cost if the home isn’t water compliance in relation to your local council's allowance. A separate house is most always separately metered but in blocks of units, flats and townhouses it is possible that the water may not be separately metered. If the water is not separately metered then the total cost will be the responsibility of the landlord. The landlord will always be responsible for the rates portion of the water invoice.
Yes! We strongly recommend all of our clients to regularly check your property for termite activity at the frequency they recommend. Please note, it maybe a general exclusion of your building insurance policy that damage to your property caused by termites is not covered (not insurable). Therefore regular checking is the best way to prevent termite damage, or at least attempt to identify warning signs that termites are creating damage. Without this the damage could be substantial and very costly to rectify.
We will issue you end of month and yearly financial statements accounting for all monies we have handled and disbursed to you on your behalf in accordance with legislative requirements. You will receive your end of month statements together with any tax invoices from tradespersons or other disbursements paid during that month on your behalf. Your end of year statement accounts for all monthly statements accumulated for accountancy ease.
Your statement will be sent to you approximately a day or two after your rent has been paid into your nominated account and the end of financial year statement will come to you in July of each year being the month immediately following the end of the financial year.
Call our office and we can reissue you one or you can go onto our website www.goldcityrealty.com.au and click on to the online owner portal and download another.
You may sell your property at any time. However any fixed term lease in place is guaranteed to your tenant. This means if a person buy’s your property and they wish to occupy it, they must wait until the tenancy is finished unless the tenant agrees in writing otherwise.
Again any fixed term lease is guaranteed unless the tenant agrees in writing to move out. As is the case with the property being sold, this can involve an amount of compensation being paid to the tenant as agreed by both the landlord and the tenant.
If they are on a non-fixed term agreement, you may give them notice to vacate at any time however the minimum is 60 days notice (allowing also for postage delivery time)
Of course! Selling your property is part of the service we provide. It is always preferred that we sell your property. It is much easier to coordinate access with the tenant between the sales and rental departments when you are using the same agency for both services. Your tenant will also be more comfortable to deal with a company they are already familiar with.
Simple! If you currently have a property managed by another agent and for any reason would like to change over to Gold City Realty, all you have to do is contact us to sign a form and we will take care of the rest. If you choose to have us manage your investment property we will organize for your tenant/s to be notified and for the keys to be collected from your managing agent. Everything else carries on as normal. Changing your managing agent couldn’t be easier.
You can obtain further information from The Residential Tenancy Authority (RTA), Residential Tenancies and Rooming Accommodations Act 2008 (RTRA act), The Property Agents and Motor Dealers Act 2000 and The Property Occupations Act 2014 and has all legislation requirements in relation to general or visit https://www.qld.gov.au/law/laws-regulated-industries-and-accountability/queensland-laws-and-regulations/regulated-industries-and-licensing/regulated-industries-licensing-and-legislation/property-industry-regulation.