FAQS

 

FAQs

LANDLORDS

Q. What is a Property Condition Report?

 

A. A Property Condition Report is a detailed report on the condition of your property at the commencement of a tenancy. The report outlines the condition of your property and gardens includes photos which are essential for accurate documentation. This report is provided to the tenant at the commencement of their tenancy for their comments and signature and is used when they move out to check the condition of the property.

 

Q. What is a Routine Inspection, when are they done and can I attend?

A. A Routine Inspection allows us to check to make sure your tenants are maintaining the property. The first inspection is carried out once the tenants have been in the property six weeks and then inspections are carried out on a quarterly basis. During the inspections, we check both the inside and outside for maintenance e.g. water leaks, overflowing gutters etc and also to ensure the property is being properly maintained. Owners are welcome to attend these inspections which are conducted weekdays between 9am and 5pm during the week.

 

Q, What is a final bond inspection or a vacate inspection?

A. These are one and the same and are conducted when a tenant vacates the property. The condition of the property is checked against the Property Condition report and once this inspection is completed we organize any cleaning or maintenance which needs to be fixed at the tenants expense. We then update the Property Condition Report and photographs in order that they are accurate for the new tenancy.

 

Q. What is a credit check?

A. As a member of REIWA Beaufort Realty has access to two databases where tenants are lodged internationally. We check by name, birth date, drivers licence number, passport number and previous addresses to see if any breaches have been lodged for previous tenancies.

 

TENANTS:

Renting in Western Australia is governed by the Residential Tenancies Act 1987 and the Residential Tenancies Regulations. The Department of Consumer and Employment Protection Advice Line 1300 304054 gives free advice in regard to a residential agreement and will also supply a free booklet which sets out all matters in regard to renting.

 

Q. What is the difference between a Fixed Term Tenancy and a Periodic Tenancy?

A. A fixed term tenancy specifies in writing a start and finish date and comes to an end unless it is renewed. A periodic tenancy has a start date and is valid until “proper notice” in writing is given by either party. The proper notice is 60 days by the owner/agent (unless the Tenant has broken the agreement or the owner has sold the property) or 21 days by the Tenant.

 

Q. What happens to the Bond during the Tenancy

A The Bond is held by the owner/agent “in trust” until the end of the tenancy and must be deposited into an authorised fund.

 

Q. Does the Owner/Agent have to give a receipt if the money is paid into a bank account?

 

A. If the rent is paid into an account at the bank, the owner/agent does not have to give you a receipt as the bank receipt is sufficient to comply with the Act so it is essential that tenants keep all receipts when they make payment.

 

Q. Who is responsible for what?

 

A.The tenant is responsible to keep the property clean and tidy and hand it back in a similar condition to how it was at the start of the agreement, taking into account normal use.

 

SELLERS:

 

Q. How long is it taking to sell a property at the moment?

 

A. The average days on the market during the first part of 2009 were 76 days. Please remember this is an average only, some properties are on the market for 180 days and others for 7. How long your property stays on the market has a lot to do with asking price, marketing and in particular, presentation.

 

Q. How often will my property be advertised?

 

A. Your property is advertised 24/7 on the internet. Most buyers go firstly to the web to do their homework. On many occasions we have opened properties by putting a home open time on the internet at late notice and have had as many people through as when we advertise in the newspapers. We will organise a marketing plan with you to suit your particular needs at the time.

 

Q. Do I have to have homes opens?

 

A. Our advice in the current economic climate is to make it as easy as possible for prospective buyers to view your property and once we have shown any registered buyers through the property, a home open would be the next step. Many people who come through “just for a look” do not consider themselves buyers and would not ring to make an appointment however if they like what they see they may very quickly become buyers.

 

Q. What if I want to cancel your authority to sell?

 

A. At Beaufort Realty we have a service guarantee and if we don’t do what we say we will do and you wish to cancel the agreement, it is not an issue. The guarantee is given to you when signing our authority to sell.

 

BUYERS:

Q. When I find a suitable property, what deposit do I have to put down and in what time frame?

 

A. Industry standards are as high as 5-10% deposit and can be paid at the time of signing the offer or anytime usually within 7 days of acceptance of the offer. The is something that is negotiated between seller and buyer depending on each parties circumstances.

 

Q. Where is that deposit held and does it attract interest?

 

A. All deposits are held in a trust account and deposits of $20,000 or more held for over 60 days can be deposited into an Interest Bearing Account payable to the buyer. Interest on all other deposits by law is paid to the Fidelity Guarantee Fund.

 

Q. If I bid at an auction, can I make my offer subject to finance?

 

A. If you are the highest bidder at an auction your offer must be unconditional ie not subject to finance or any other condition. Should the property be passed in, the seller may entertain other conditional offers if there are no cash offer.

 

Q. Once I have made an offer, how long until it is presented to the owner?

 

A. “Time is of the Essence” here and at Beaufort Realty we will always endeavour to present your offer to the seller within 24 hours on the proviso the seller is available. We will communicate with you every step of the way so you are not left wondering what is happening.