Common Questions Asked By Property Investors
How much will it cost me to let my property?
The costs involved in letting your property consist of a letting fee and a monthly management fee.
Letting Fees are charged at the beginning of each new tenancy. The services include conducting private viewings, open for inspections, preparation of the condition report and photos, advertising photography, receiving and processing applications, tenant sign up , initial rent and bond payments and handing the keys to the tenant.
Management Fees are charged from the amount of rent collected each month. The management fee is deducted from your rental income including a administration fee.
Are there any additional marketing costs?
Advertising includes website advertising and for lease boards. At Parry Property we do not charge for on line advertising, this is all built into the letting costs. We are confident that we can secure you a wonderful tenant quickly that we cant see the point in charging extras for nothing. For any paper based advertising a fee is attracted and we will discuss this with you if you wish to go down this path.
Not all Landlords would like a ‘For Lease’ board and some flats/units do not allow boards to be erected. The advertising will be discussed depending on your requirements and style of advertising preferred.
Who will conduct viewing on my property and when will they occur?
Your Property Manager will accompany all viewings and open for inspections. Meeting prospective tenants is crucial in order to gain an over perspective of the tenant. Meeting a person offers you an advantage in giving owners an overall image of the tenant which is then supported by the application.
Open for inspections are conducted on weekends & mid week. Private viewings are arranged as required. Many relocation tenants and corporate client are only available to attend private viewings.
Do I need to be present for viewings?
As your Property Manager will be accompanying all viewings & open for inspections your presence is not required however you are welcome to be present.
It is worth noting that tenants often feel more relaxed when the owner is not present.
How much is the tenants bond and what happens to it?
Typically this is four weeks’ rent and is payable upon the signing of the Tenancy Agreement. The bond will be lodged with the Rental Deposit Authority.
Do I need a condition report and who will arrange this?
Every tenancy needs a fully comprehensive condition report given to a tenant at the beginning of each tenancy.
Parry Property Asset Management produced the most detailed condition reports to ensure your property is accurately documented. It is important that the condition report is done to avoid discrepancies at the end of the tenancy which may result in costly hearings.
How long does it take to receive my rent once paid by the tenant?
For a long let you should receive your rent within 3 working days after the due date each month. The due date is typically, although not always, the date on which the tenant moved in.
Please see the Property Owner 10 steps guide information for preparing your property for rent.
What happens when I want to sell my property?
When it comes time to sell your investment we will work in conjunction with the Parry Property sales department as properties are often sold with tenants in place to other investors and we tailor for these circumstances.
We will advise of the legal obligations required for the tenants to vacate prior to or after the Sale / Auction date.
As the managing agent of the property we can assist explaining the process to the existing tenants due to the good relationship we have established with the tenants. Dealing with the tenants vacating or working with the tenants through a sale campaign is crucial in order to ensure a smooth transition from the tenants vacating and preparing for the property to be sold. We will assist the existing tenants to find new accommodation and advise the tenants of their responsibilities prior to vacating.
If you are thinking of selling please contact us and we can begin to discuss your obligations for the current tenancy, giving the tenants notice to vacate, preparing the property the sale and any other queries that will be relevant to your property.