If I feel my current agent isn’t working for me is it easy to change?

The simple answer is YES, is it extremely easy as we take care of all the paperwork on your behalf.

The first step is to notify your current agent in the form of a simple letter stating their management services are no longer required. The changeover period will be specified in section 4.2 of your current Appointment Of Agent (generally 30 days).

In the meantime we arrange for a new Appointment Of Agent to be signed with our agency so that we can act on your behalf. We will then notify the current tenants and arrange for collection of keys and documents relevant to your property. It really is that simple.  After handover we arrange a meeting with the current tenants to ensure the ease of transition. You do not have to wait until a lease expires to change agents!

Is it easy for you to find me a tenant?

This question is asked by all investors as the aim of renting property is to find a tenant in the shortest possible time, however there are 3 contributing factors to finding a tenant.

• Price
• Presentation and
• Availability

An up to date comparative market analysis will determine the weekly rental price. The presentation of the property is paramount. Present the property with the same attention to detail as if you were selling a property. The availability date is crucial, a property can be rented within a day and must be ready for a tenant if this is the case.  A tenant will be found and  the highest possible rent will be achieved  if all three requirements are met.  

What happens when my tenant falls behind in rent?

Arrears are monitored daily and extremely closely here at Fastrack. If your tenant is falling behind in rent we will certainly know about it, we don't believe in Free Rent.

The course of action we follow is to:

Day 4: An SMS is sent to the tenant alerting them rent has not been received.

Day 7: The tenant is called regarding arrears.

Day 8: A Notice To Remedy Breach (Form 11) is issued to the tenant, this is the first step in the eviction process and tenants are made aware of this. 

If the tenant does not adhere to the notice to remedy breach we seek instruction from our landlord, there are two options at this stage.

Option One: A payment plan is put in place for the tenant to catch up the outstanding rent, this is a written agreement signed by all parties. We believe in the Honey Honey Vinegar approach, meaning we are happy to work with the tenants to a certain point, but if no attempt is made then we have no choice but to offer option two.

Option Two: A notice to leave is issued allowing the tenant 7 days to vacate the property. Any monies owing may be recovered from the tenant’s bond.

Can you help me if I need to sell my investment property?

YES! Being a Property Management only business does not restrict our knowledge of sales. We have a strong relationship with sales agents in the Toowoomba area allowing us to put you in touch with the best agent if you wish to sell your property. A portion of our owners live in other areas of Australia and find it hard to place their trust in a sales agent. We believe your first call should be made to us if you are considering selling and we will recommend the best agency that will achieve the best price, advice and quality service.

Do I need Landlord Insurance?

The easiest way of answering this question is to look at it logically. If you were to drive your car with no insurance and had an accident where do you stand? The same applies to having little or no landlord insurance. Your ordinary home insurance may be able to cover you for the basics of landlord insurance but we strongly recommend a specialist in the field as they can cover you at approximately the same rate as your ordinary insurer but will be able to offer a large number of options including coverage for up to 52 weeks rent default.

What do you believe my property will rent for?

Property Managers are trained to access the rentability of the property and determine the weekly rent, firstly to research the local area and carry out a comparative market analysis. If a property is uniquely different to anything else on the market at the time a checklist of what the property has to offer is conducted and a weekly rent obtained in this way. Some investors are happy to rent the property for a little less and have a long term tenant or if the property has been rented previously and you, as the investor are happy with the rent then we are also happy to follow your instruction. However it is all about following supply and demand, if it is a renters market then prices need to remain competitive; if demand is high then rents can be pushed up! Usually the start of the year is a hot time for renting property.