Why use Wright Place Property Management / FAQS

At Wright Place our Property Management team aim to support the lifestyle choices of our clients by delivering a range of property services unique to their brand.

Wright Place has taken pride in the organic growth of their rent role to ensure that the clients making the choice to appoint our agency share the same view to present their properties only at the highest calibre of presentation and care.

We off a unique service to our prospective clientele providing them with the opportunity to pre-apply for properties through our agency. Wright Place works hard to find the perfect rental property based on each individual applicant.

The team at Wright Place are passionate and 100% dedicated to reducing all risks associated with your investment property. As a team we will strive to maximise your income, optimise capital growth opportunities and skilfully represent you throughout your entire experience with our agency.

Are you searching for peace of mind when selecting an agent to management your investment property? Are wanting an agent who prioritises their workload to ensure that any questions received by the tenants are relayed to the owner in a timely manner and actioned immediately.

Are you comfortable with pursuing the tenant if they fall behind in their rent? The team at Wright Place will act as a third party between the tenant & landlord, which gives you peace of mind that you won’t have to communicate with the tenant on issues such as late payment of rent, negotiating rental increases and following up maintenance issues.

Rent reviews are recommended every 12 months at a minimum. Would you feel comfortable advising the tenant of any changes made to the new agreement? Sometimes having a third party to negotiate this on your behalf can avoid conflict and unnecessary additional stress. The team at Wright Place understands the complexity of legislation requirements when issuing notices and preparing tenancy documents.

Besides rent arrears have you considered the other ways tenants can become in breach of the agreement and how you would handle this situation?

The team at Wright Place undertake regular training to keep abreast of the ever-changing legislation to professionally manage the tenants and handle a tenancy breach with minimal stress to you.

Do you have a financial budget in place for your investment property over the next 1, 2 even 3 years? The team at Wright Place know a vacant property isn’t worth a cent to you as the investor and to ensure that your property is rented in the quickest possible time, we use multiple marketing strategies. We pride ourselves on being the Risk Reduction Specialists and we strive to message away any risk associated with investment property ownership!

PROPERTY MANAGEMENT FACTS

Here are answers to some commonly posed questions on property management.

  1. What is the typical lease period?
    The most common lease terms are six or 12 months. However, there is no restriction on the lease term you can offer. A 12-month lease allows you to build a more stable relationship with your tenants, which may encourage them extend the lease. Many may shy away from longer leases that lock them into a contract.
  2. What weekly rental income can I expect from my property?
    It is not possible to estimate the rent you can charge without appraising your property. The factors that affect a property’s rental value include location, space, amenities, the condition of your property, landscaping, washing and drying facilities, provision for allowing pets, etc.
  3. Can I increase the rent in the middle of a lease period?
    The rental rate set in the contract will hold throughout the lease term unless there a special provision allowing a rent increase in your tenancy agreement. If not, at the end of the term, you must provide tenants a written notice of the intended increase. The notice period varies from state to state.
  4. What is the definition of a ‘good tenant’?
    A good tenant is someone who pays rent on time and maintains your property responsibly. You can expect a smooth and positive experience with most tenants. As many renters go on to own homes, they understand the importance of upholding the terms and conditions of their contract.
  5. Can I expect tenants to default on their rent?
    At WRIGHT PLACE, we conduct a background check to qualify only trustworthy prospective tenants. Still, there is a small window of possibility that one or two tenants may pose problems. The issue of bad tenants is often seen in poorly managed and maintained properties. Our experienced property managers go the extra mile to ensure that you don’t face this problem.
  6. What if my tenant does not pay on time?
    It is inevitable that some tenants may find it challenging to pay rent at some point during their tenancy. We have strategies and systems in place to effectively manage this risk.
  7. What happens at the end of the lease?
    At the end of the lease, you have the option to renew the lease or you can request the tenant to vacate. Landlords typically tend to extend the lease when their experience with tenants has been smooth and fruitful.
  8. What is my major responsibility as a landlord?
    Your major responsibility as a landlord is to offer and maintain a dwelling that meets basic habitability requirements, such as structural safety; heat, water and electricity; sufficient waterproofing and a sanitary indoor environment. You are responsible for ensuring the safety requirements set out in the Building Code of Australia.