Questions Landlords Should Ask Their Property Managers

1. WHAT IS YOUR PROCEDURE FOR FOLLOWING RENT ARREARS UP?

YEELES PROPERY MANAGEMENT remind their tenants three times a week if their rent has fallen behind by text, phone call and letter.

These reminders commence once a tenant falls 3 days behind.

Once a tenant is 16 days behind a Notice of Termination can be issued which we always discuss in length with the owner beforehand.

We will always notify owners at the end of the month about any tenants who are behind so the owners are aware that their payment may be less than usual.

2. HOW DO YOU CONDUCT A PROPERTY'S INGOING AND OUTGOING INSPECTION AND WHAT IS INVOLVED?

YEELES PROPERTY MANAGEMENT take the ingoing and outgoing inspection reports very seriously. Your ingoing inspection report is a comprehensive typed report outlining all the aspects of the property down to how many power points and light globes are in each room.

On average YEELES PROPERTY MANAGEMENT take 200 photos for an average size house to ensure that tenants are responsible for leaving the property in the same condition in which they found it, reducing the risk of the owner being out of pocket in fixing the property once tenants leave.

3. CAN I ATTEND ROUTINE INSPECTIONS?

YES

YEELES PROPERTY MANAGEMENT welcome the opportunity for Landlords to attend the routine inspection with us. This is not only reassurance for the Landlord but is also a good opportunity for us to meet with the Landlord to discuss their property in detail.

4. WHEN WILL I RECEIVE RENTAL INCOME?

Landlords have the option of receiving payments in the middle of the month and at the end of month or just at the end of the month.

Landlords receive any rental income received by their tenant minus our fees at this time.

5. WILL I RECEIVE THE SAME RENTAL AMOUNT EACH TIME?

The rental amount you receive will depend on when your tenant has paid their rent minus our management fees and any other expenses that the property may have incurred such as Landlord Insurance Policy renewal, Water Rates or Council Rates.

Therefore it is common for your rental income to vary from month to month.

6. ARE YOU A QUALIFIED PROPERTY MANAGER?

Unfortunately in South Australia you don't need to be qualified to practice as a property manager. This poses an enormous risk to Landlords in particular because if their property manager has no qualifications in property management it is possible that they may unintentionally expose their Landlords to unecessary risk simply by not know the laws and legislation relating to the tenancy act.

Both Kimberley and Asha are qualified property managers and member of the Real Estate Institue of South Australia, which not only means they are qualified they are continually updated on any changes to the legislation.