How to Deal With Non-Paying and Slow Paying Tenants

If you are looking at a property management agency to manage your rental investment, one of the first questions to ask is for details on their rental collection policy. 

At True Property Management, our rent collection policies are as follows:

Tenancy Laws - What To Do If You Think Your Rent Increase Is Too High

To find out about tenancy laws if you think your rent increase is too high, or looking at increasing the rent of your tenants contact Consumer Affairs Victoria for assistance.


You can request a rent assessment if you think a rent increase is too high or you are not receiving some or any of the services, facilities or other items that are part of the tenancy agreement.
 

A request for a rental assessment must be made in writing within 30 days of receiving a ‘Notice of Rent Increase to Tenant/s of Rented Premises’.

Tenancy Laws - What Are Your Rights as a Tenant?

Tenancy laws are there to protect your rights as a tenant. Do not sign anything unless you understand what it means. Never sign a blank form, even if it looks official. All official notices you give your landlord or agent must include their name, your signature and other details in some circumstances.

FAQ #3: Why Choose True Property Management for your Australian Real Estate Management?

In two words, Experience and Expertise.   When it comes to Australian Real Estate we have the background and the knowledge to manage your property to ensure maximum yield.

Our clients know that our people make the difference. Our business is owned and operated by the people who train, mentor and coach other property managers throughout Australia and have done so many years. If you have a residential rental property in Melbourne, there is no better choice than True Property Management. 

Property Management Realty in Melbourne – Looking Forward

Property management realty in Melbourne is changing with our city.  As our population increases our city is changing, with more high density apartments being built to meet the demand, investors often opting to purchase ‘off the plan’.  

 

By 2030, metropolitan Melbourne’s population is expected to increase by 620,000 households and by 925,000 people. Managing this increase will present substantial challenges for where and how we live. We face across-the-board changes that will alter our perception of what we want in housing, and the way the housing market develops. These include:

How Can a Property Management Agency Add Value to Your Investment Property?

There are two common approaches in renting your investment property, the Do It Yourself (DIY) approach or to hire a professional property management agency.  The DIY approach proves to be an appealing option for property investors, increasing your immediate cash flow when not paying the services of a property management agency.  However the true value of a seasoned professional property manager is worth their weight in gold, as they can add significant value to your investment.  Here's how:

FAQ #2: When you find an applicant for my property, how do you qualify them?

We strive to provide you with the caliber of tenants that you want in your rental property. This includes:

• An interview with one of our highly experienced team members
• A 100 point identification check
• A detailed tenancy database search
• Verification from their current/former landlords/agents
• Verification of their employment
• Verification that they can afford the rent and all other monies payable under the tenancy agreement.

Victorian Homeowners' $300m Blow

An interesting article but the results are not at all surprising.

Numerous blocks of apartments have been built in the CBD, Docklands and Southbank precincts over recent years with a large number of the apartments being purchased by foreign off-the-plan speculative purchasers. During the past three years, many of these investors have been forced into selling due to the economic climate and a desire to rationalise assets. As Catherine Cashmore states quite correctly, high-rise developments will generally lose value before they gain value primarily due to the initial purchase prices paid being over-market at the time.

10 Years Ago - by REIV.com.au

A review of some market indicators shows that a lot has changed in the past decade.

 

In the June quarter this year the median Melbourne house price was $590,000, which is 103 per cent higher than the $291,000 recorded in the June quarter 2001.

 

A decade ago the stamp duty payable was $13,120, which is 132 per cent less than the $30,470 which was payable on the median house if purchased in the June quarter this year. Unlike a decade ago, first home buyers can now benefit from a 20 per cent reduction on this bill for most homes.

FAQ#1: Should I take out Landlord Protection Insurance?

Landlord protection insurance is vital for any professional investor and we strongly recommend you take out this cover. 

It can cover unforeseen circumstances like:

• Accidental damage or breakage
• Malicious damage or vandalism caused by tenants
• Deliberate or intentional damage caused by tenants
• Public Liability
• Loss of rental income
• Rent default and theft by tenants.