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When you find an applicant for my property, how do you qualify them?
We strive to provide you with the calibre of tenants that you want in your rental property. This entails an interview, an identification check with their former/current landlord/agent, their employment, their ability to afford the rent and all other monies payable under the tenancy agreement. In addition to the normal financial qualification, we always try to accommodate the housing needs of your tenants to ensure the property they rent is convenient to their work, shopping and desired school district. This will help to ensure that they will be happy tenants and remain longer in your rental property. 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. This report 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.
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 are the kinds of tenancy agreements available?
There are two types of tenancies — fixed and periodic. A fixed term tenancy agreement lasts for a specified length of time, usually six or 12 months. A periodic tenancy agreement lasts until either the tenant or the landlord decide to end the tenancy. The tenant must give 21 days’ written notice and the landlord must give 90 days’ written notice.
What is a routine inspection?
Routine inspections are conducted after a tenant takes possession of the property and are conducted every three 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 happens when a tenant stops paying rent?
When a tenant falls behind in their rental payments they are issued with a notice of breach 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 cheque
- Internet Banking through their chosen financial institution
- Automatic Payment 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? On the first work day of the new 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. Is my current insurance policy enough?
As a general rule, this is not the case. Many policies do not cover the issues that may arise during a tenancy. For further information, please ask your current insurance policy provider.
What if I want to sell my property, can First National Wanaka help?
Yes, we can help! We have some of the best real estate sales consultants in our market area to sell your property. Please note that we have a legal requirement to notify, in writing, a tenant if a property is to be sold.