Frequently Asked Questions
- I live in Brisbane. Why can’t I manage the property myself?
- What is the Residential Tenancies Act 1994?
- Don’t all property managers do the same things? How is Investment House different?
- What sort of properties do you manage?
- What if a tenant trashes my investment property?
- How can tenant vacancies be minimised?
- How can I be sure the tenants you find will be good tenants?
- Do you give out keys to prospective tenants to view the property alone?
- Will one person be in control of my property?
- What happens when that person is away? How will my property be managed?
- How do I engage OneDoor Property Management?
I live in Brisbane. Why can’t I manage the property myself?
Managing a rental property is more than simply collecting the rent. You’ll need to source a reliable tenant; conduct extensive reference and background checks and ensure that you complete all the paperwork required under the Residential Tenancies Act, 1994. You’ll need to adhere to all the regulatory timeframes. And failure to do so can result in legal action.
Your OneDoor Property Manager eliminates this angst. Our internal procedures comply with the Act. We have access to tenant databases for reference checks. And as your agent we become legally liable to advise you on your rights and responsibilities under the Act.
Property management fees payable to us are also legitimate tax deductions, saving you tax and freeing up your time to focus on the "bigger picture".
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What is the Residential Tenancies Act 1994?
In Queensland, all residential tenancies are governed by an Act of Parliament. The Residential Tenancies Act 1994 is a 235-page document that sets out the rights and responsibilities of tenants and lessors. It provides clear guidlines that must be followed when starting a tenancy, during a tenancy and when ending a tenancy. The Act also stipulates dispute resolution procedures for both the tenant and the lessor.
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Don’t all property managers do the same things? How is OneDoor Property Management different?
Most property managers will offer a standard service that includes:
- Sourcing a tenant
- Collecting the rent
- Conducting routine inspections
- Organising required maintenance
- Monthly disbursement notices
- Completing paperwork for lease renewals and tenancy terminations
However, many of our clients report that these things are seldom performed satisfactorily by property managers that they have dealt with in the past.
That's why we created the OneDoor Property Management service. While most property managers claim to offer great service, often they fail even the very basics. So in addition to these staples, OneDoor Property Management will:
- Treat you like a person, not a number
- Assign a dedicated property manager who looks after no more than 85 properties (some rental managers oversee more than 150 properties each!)
- Follow through on any action items
- Follow-up on any actions required of the tenant or other service providers (e.g. tradespeople)
- Communicate with you several times a year outside of monthly reports and maintenance issues
- Recommend preventative maintenance to maintain and grow your property’s value
- Build a stable relationship with your tenant
What sort of properties do you manage?
OneDoor Property Management specializes in good quality and new-near residential properties located in Brisbane’s CBD and inner suburbs. However, we're also able to manage older properties, so if you’re looking for a proactive property manager, please don't hesitate to contact us.
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What if a tenant trashes my investment property?
We've all heard terrible stories about the tenant from hell. Fortunately, it's now possible (and highly recommended) to get an insurance policy to cover you against this type of event. It’s called Landlord Special Protection (and it will also cover you against a tenant breaking a lease).
By selecting the right property in the right area, and using a good property manager you can minimise the likelihood of having a bad tenant - but it can still be worth paying for the insurance.
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How can tenant vacancies be minimised?
This is the element that causes many property investors the most worry, yet interestingly it's one of the lowest elements of risk.
It comes down to doing the right research and embarking with the right recipe. The right type of property in an area with good rental demand, coupled with good property management is unlikely to have any more than a 4% vacancy (the average for the properties we manage is only 1.5%).
Key elements in your planning include proximity to employment, infrastructure and services in addition to the general appeal of the dwelling. We are able to advise you on the right mix of ingredients to generate above-average rental demand.
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How can I be sure the tenants you find will be good tenants?
Vacant properties are listed on the two main property sites, domain.com.au and realestate.com.au. Prospective tenants must fill in an application form giving their previous rental history and details of their income. Your property manager will also conduct reference checks from previous landlords or property managers and will confirm their income details with their current employer. Only then will they be put forward to you as a prospective tenant.
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Do you give out keys to prospective tenants to view the property alone?
No, absolutely not. All prospective tenants are accompanied to the property by the Property Manager. This not only ensures the safety of your property, it also gives them the opportunity to point out the benefits of the property and to answer any questions the prospective tenant might have.
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Will one person be in control of my property?
Yes. When you engage OneDoor Property Management, you’ll have an assigned Property Manager. They will be your primary point of liaison and will have up-to-date records of all communications with you and your tenant. You'll never be shunted round between several managers who look after different areas (e.g. leasing, accounts, maintenance) and don't know what's going on in other areas.
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What happens when my property mangers is away? How will my property be managed?
All our Property Managers maintain complete and comprehensive computerized property histories. That means if your assigned property manager is away, another qualified rental manager will have immediate and easy access to the history of your property.
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How do I engage OneDoor Property Management?
You can call our Property Managers on (07) 3369 0111 or click here to contact us.
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