FAQs for Investing
How do you determine the best rent for my property?
At Allure Realty we aim to achieve the highest possible rental return in the shortest amount of time on the market. Renting a property quickly can be hard if your property isn’t priced correctly and in good condition.
There are a few factors that we take into consideration to determine the correct market price:
Demand –What kind of properties are in demand at the moment? This can be seasonal and depend on a variety of factors.
Availability –What properties are on the market at the moment? If what is in demand is in short supply you can achieve a higher rent.
Market Comparison –What are they being rented for at the moment? We compare your property against the rental market to determine an ideal price, taking into account the location and any extra features your property might have.
These factors allow us to give you enough information to set the right rent for your property.
We will also report all feedback from prospective tenants back to you.
How long will it take to rent my property?
No specific time frame came be given; however if you meet market conditions, if your property is priced correctly, in good condition, you have decent photos for marketing and a proactive agent representing your property, it will be rented quicker.
What insurances do I need?
It is recommended you take out Building Insurance and also Landlords’ Insurance.
Building Insurance covers you for unexpected events that damage your building, such as fire, storm and flood.
Landlords’ Insurance covers you for Tenant-related risks including loss of rental income, death of a tenant and damage by Tenants to your building and contents.
Can I maintain the smoke alarms myself?
Professional Smoke Alarm companies are trained and qualified to ensure your biggest assets is well looked after, and complies with the correct legislation, for the safety of your tenants, and also insurance purposes.
However, if you decide to maintain the smoke alarms yourself, you must ensure:
- install smoke alarms complying with Australian Standards
- replace smoke alarms before the end of their service life
- test and clean smoke alarms and replace any flat or nearly flat batteries within 30 days before the start or renewal of all tenancies
- repair/replace the smoke alarm during the tenancy if they are reported faulty or missing – urgently
- abide by and keep up to date with all Smoke Alarm legislation
- supply a written report to our office upon completion, including: Position and expiry date of alarms,date batteries replaced and alarms tested and cleaned etc.
What happens if my tenant falls behind in rent?
We have a zero tolerance policy for late rental payments. We understand that sometimes there are unforeseen circumstances that may result in payments being late. Although we will endeavour to accommodate these, there is a strict arrears management procedure that will be maintained, and we act from day one.
Can I sell my property while it is being rented?
You can sell your property during a tenancy however if you list your property within the first 2 months of a tenancy starting, the Tenant has the option of ending the agreement with only 2 weeks notice.
- In a fixed agreement, the Landlord cannot make the Tenant leave because they decide to sell the property. The Tenant can stay until the end of the term, and the new owner will become the new Landlord.
- If the Tenant is on a Periodic Agreement, and the Landlord requires vacant possession, they must give the Tenant 2 months notice to vacate, or upon signing the contract of sale, the Tenant must have at least 4 weeks notice to vacate.
How do I change agents?
Changing Agents is easy. All you have to do is fill out the contact form or contact us directly. We will then arrange the correct documentation for you to complete and handle the rest on your behalf.