What is a Condition Report?

This is a report that is compiled at the commencement of a tenancy prior to the new tenant moving into the property.
It outlines the condition of the property at the commencement of the tenancy and is used when the tenant vacates to ensure that the property is left in the same condition.

The condition report is provided to the new tenant upon their tenancy commencement. This gives the tenant the opportunity to note any items not already stated on the report.

What is a Routine Inspection?

Routine inspections are conducted after a tenant takes possession of the property and are conducted every six months. 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 Property Management Team will contact you to discuss items noted on the report.

What is a database check?

Database checks are conducted on all tenants applying for a property through Collie & Tierney First National Real Estate. Within Australia there are two databases used by Real Estate Agents to lodge and check bad tenants. These are Tenants Reference Australia (TRA) and TICA. Any tenant who has rented through an agency that uses these databases and has defaulted in some way will be lodged on theses databases. This can greatly reduce your chances of getting a tenant with a previous bad rental history.

What happens when a tenant stops paying rent?

When a tenant falls behind in their rental payments they are issued with a notice advising them that they are behind and requesting that they rectify the problem. If this is not done within the stipulated time period then a termination notice is issued requiring that they vacate the premises.

How do tenants pay their rent?

Tenants have several options to pay their rent, leaving no excuse for late payments.
- By coming into our office at 67 Lime Avenue, Mildura with cash, cheque or money order or eftpos. We do not accept credit.
- Internet Banking through their chosen financial institution
- Direct debit from their nominated bank account, we will supply the tenant with our account details to arrange an automatic transfer.

When does the rent money get paid into my account?

At the end of every month all monies held, unless instructed otherwise, is paid to you by way of direct credit to your nominated bank account or by cheque. A statement is issued at the same time outlining the debits and credits for that month.

Property Investment and Management Guide

Your guide to purchasing and managing investment property.

Property represents a very secure and sound, long term form of wealth creation. And as such, Australians are increasingly turning to property investment to secure their future.

A well managed investment can offer many advantages including income and capital growth. Many investors may also be able to use their investment to reduce tax payable on their assessable income.

Property is also a good option as part of an investment portfolio, particularly with people who do not need immediate access to their money and wish to protect themselves against inflation over the long term.
It is important to be aware however, of the responsibilities of managing your property investment and assuring proper care and responsibility. As considerable money is at stake, you need to take the time to get good advice before you act - and remember, consideration of any investment presents wide and varied alternatives and there are always plenty of experts ready to pass on their opinion. It is wise, therefore, to always seek appropriate advice from a qualified financial advisor or your accountant.
This booklet is the first step in this process and is designed to provide an overview of the considerations required for any owner of an investment property.

For a copy of our Property Investment and Management Guide please contact our office.