Why is it worth using a property manager? A property manager will be able to help organise your property so it is suitable for new tenants. Whilst the property...
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The following advice is of a general nature only and intended as a broad guide. The advice should not be regarded as legal, financial or real estate advice. You should make your own inquiries and obtain independent professional advice tailored to your specific circumstances before making any legal, financial or real estate decisions. Click here for full Terms of Use.

Click here for Q & A about SMSF investment

What is a Routine Inspection?

Routine inspections are conducted after a tenant takes possession of the property and are conducted periodically for the life of the tenancy.

These inspections are essential to ensure that your property is being maintained to an acceptable standard and to identify any maintenance that may be required. A copy of the routine inspection report is forwarded to you after each inspection and, should it be necessary, a member of the Property Management Team will contact you to discuss items noted on the report.

What happens when a tenant stops paying rent?

When a tenant falls behind in their rental payments, they are issued with a notice of breach advising them that they are behind and requesting that they rectify the problem. If this is not done within the stipulated time period then a termination notice is issued, requiring that they vacate the premises.

How do tenants pay their rent?

Tenants have several options to pay their rent, leaving no excuse for late payments.
  • By cheque or money order.
  • Internet Banking through their chosen financial institution.
  • Direct debit from their nominated bank account.

When does the rent money get paid into my account?

Unless instructed otherwise, all monies held are paid to you by way of direct debit/cheque to your nominated bank account at the end of every month. A statement is issued at the same time, outlining the debits and credits for that month.

I’ve inherited a home. What are my obligations if I sell?

There may be ‘capital gains’ tax obligations.  Please seek advice from your financial advisor or a qualified tax accountant concerning the implications of selling an asset you have inherited.

How can I renovate to improve my property’s appearance and value, for the least cost?

First National Real Estate has a detailed ‘Home Sellers Guide’ that you can download here. It offers all manner of tips and renovation advice. Alternatively, we have a brief ‘Preparing your home for sale’ brochure.

However, it’s always best to ask about what’s most popular and effective in your locality. Contact a First National Real Estate agent and we’ll happily give you all the advice you need.

What is land tax?

Land tax is an annual tax payable by owners of land. Land tax is administered by your state or territory government and is applicable everywhere except in the Northern Territory. It does not apply to your principal place of residence but does apply to every investment property you own.

Do I need to keep the property I’ve just bought insured until settlement?

It’s wise to insure from the moment you have signed a contract to buy your home. Risk passes from seller to purchaser, immediately upon purchase, even though you have not settled and taken possession of your new home.

Should I allow tenants with pets to rent my investment property?

With research showing just 25% of new investors allow tenants to have pets; you’ll improve your chances of renting your property faster if you allow your First National property manager to flag your property ‘Pet Friendly’.

Given that not many landlords offer pet-friendly properties, those that do have the advantage of reaching a broader demographic of tenants, which is especially important in family orientated neighbourhoods.

By allowing pets with references, a property is more likely to attract longer-term tenants, as the property will feel more 'homely' where a pet is permitted.

First National introduced its Pet Friendly rental search feature in 2008. We encourage tenants to present their pet references with their application and may attach additional clauses to a rental agreement to strengthen your protection. Let us know if you’d like us to consider tenants with pets when you next have a vacancy.

I don’t want to pay for property management services. Can you help me to do it myself?

If you’re going to manage your rental property yourself, there are a great many things you need to know about your rights and obligations, and, how to protect yourself and your tenants from risk.

Download our ‘Self Managing Your Rental Property’ brochure for tips on how to do it yourself. If you do change your mind, we’ll always be happy to manage your property.
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