How do tenants pay their rent?

Tenants have several options to pay their rent, leaving no excuse for late payments. - Internet Banking through their chosen financial institution, direct payment at any National Australia Bank (NAB) - By cheque or money order - or in the office with EFTPOS.

 
When does the rent money get paid into my account?

At the middle and/or end of every month all monies held, unless instructed otherwise, is paid to you by way of direct debit to your nominated bank account or by cheque.

On your instructions, our office will pay various accounts from the rent monies collected which may include your land and water rates and maintenance items. All accounts paid will appear on your monthly statement with a copy of the invoice attached.

 

A statement of account will be posted to you at the end of each month also. This statement will keep you informed of the tenant rent status including paid to dates, any accounts paid and monies transferred to your account during the month. 

After the end of financial year, our office will provide you with a Financial Year summary. This is effectively a summary of all of the monthly statements and assists in your tax calculations without having to provide all monthly statements to your account.

 
What is a property condition report?

This is a report that is compiled at the commencement of a tenancy prior to your tenant moving into the property. The report outlines the condition of the property at the commencement and is given to the tenant when they sign the lease to complete and return to the office within 7 days.

The report is then used when the tenant vacates to ensure that the property is left in the same condition as when they moved in.

This is the last inspection carried out as soon as possible after the end of a tenancy, when the tenants have returned their keys. The Property Condition Report is used at this inspection and each item is checked off to make certain that the property is in the same condition as when the tenant took possession. It is at this inspection that any items that need to be rectified by the tenant are identified.

 
What is a Routine Inspection?

Routine inspections are conducted shortly after a tenant takes possession of the property and are conducted every six months thereafter.

These inspections are essential to ensure that your property is being maintained to an acceptable standard and to identify any maintenance that may be required.

A copy of the routine inspection report is forwarded to you after each inspection and should it be necessary, a member of the Reece Realty Newcastle Property Management Team will contact you to discuss items noted on the report.

 
What happens when a tenant stops paying rent?

In the event that your tenant falls behind in their rent, you can be assured that our office will closely monitor their progress and continue to follow up so that the tenants are to be paid up to date.

 

We will send reminders via email, SMS, letter and phoning the tenants and house visits as required with stern warnings where necessary to chase rental arrears on a daily basis.

If the rent arrears are not rectified within the stipulated time period then a termination notice is issued requiring that they vacate the premises.

 
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